Nine Mile Metals Ltd. announced a private placement to issue 4,545,454 FT Units at an issue price of CAD 0.11 per unit for the gross proceeds of CAD 499,999.54 1,333,333 NFT Units at CAD 0.075 each, for gross proceeds of up to CAD 99,999.975; aggregate gross proceeds of CAD 599,999.915 on April 8, 2024. Each FT Unit will be comprised of one common share and one-half Common Share purchase warrant, issued on a non-flow through basis. Each full FT Warrant will entitle the holder thereof to acquire one common share in the capital of the Company at a price of CAD 0.13 per Common Share for a period of 24 months from date of issuance.

The FT Shares are intended to qualify as "flow-through shares" within the meaning of subsection 66(15) of the Income Tax Act (Canada) Each NFT Unit will be comprised of one common share, and one-half Common Share purchase warrant, issued on a non-flow through basis. Each full NFT Warrant will entitle the holder thereof to acquire one common share in the capital of the company at a price of CAD 0.11 per Common Share for a period of 24 months from date of issuance. In consideration for their services in introducing subscribers to the Company under the FT Private Placement, finders may receive commission of 8% cash and 8% common share purchase warrants, exercisable to purchase one common share at a price of CAD 0.13 for a period of 24 months.

In consideration for their services in introducing subscribers to the Company under the NFT Private Placement, finders may receive commission of 8% cash and 8% common share purchase warrants, exercisable to purchase one common share at a price of CAD 0.11 for a period of 24 months. All securities issued in the FT and NFT private placement will be subject to a four-month and a day hold period.