Muzhu Mining Ltd. announced a Quebec non-brokered private placement of 2.500,000 flow-through units at an issue price of CAD 0.085 for the gross proceeds of CAD 212,500 on December 20, 2022. Each flow-through unit consists of 1 common share and 0.5 common share purchase warrant. Each warrant entitles the holder to acquire one additional common share at CAD 0.12 per share for a period of twenty-four months from the date of closing.

The company may finder's fees to the eligible parties in accordance with CSE policies. All securities issued pursuant to the offering will be subject to a hold period of four months and one day from the date of closing and the offering and payment to finder's fees is subject to CSE policies.