Abitibi Metals Closes Strategic Private Placement for C$30.7 Million

London, Ontario — May 15, 2026 — Leads & Copy —

Abitibi Metals Corp. has announced the closing of its non-brokered strategic private placement, amassing gross proceeds of C$30,752,228. Discovery Silver Corp. has subscribed for 23,704,790 common shares, representing approximately 9.9% of Abitibi Metals' issued and outstanding common shares following the Offering's closure.

According to the company, the strategic financing marks a milestone for Abitibi Metals and further validates the long-term potential of the B26 Copper-Gold Project. Following the closing of the Offering, Abitibi Metals and Discovery entered into a participation agreement, which, subject to conditions, grants Discovery financing and other participation rights to maintain its shareholding interest.

The Offering was completed through a combination of 11,764,706 charity flow-through common shares (CFT Shares) at $0.85 per share, and 35,779,704 hard dollar common shares (HD Shares) at $0.58 per share. All securities issued under the Offering are subject to a statutory hold period of four months and one day from the closing date, adhering to Canadian Securities Exchange (“CSE”) regulations.

The company will complete its post-closing filing requirements with the CSE. The proceeds from the CFT Shares will fund “Canadian exploration expenses” on the company’s Quebec-based projects, while net proceeds from the HD Shares will support exploration and development, as well as general corporate purposes.

Jonathon Deluce, President & CEO of Abitibi Metals, said the company is pleased to welcome Discovery as a strategic investor as it continues to advance the B26 Copper-Gold Project in Québec. With a treasury exceeding $45 million, a growing resource base, and an 80,000-meter drill program underway, the company is positioned to accelerate exploration across the B26 system, according to Deluce.

Abitibi Metals aims to build a critical minerals company within the Abitibi Greenstone Belt. The company also maintains an active presence on various social media platforms to keep stakeholders and the general public informed, and encourages shareholders and interested parties to follow and engage with the Company through its Twitter (https://twitter.com/AbitibiMetals) and LinkedIn (https://www.linkedin.com/company/abitibi-metals-corp-amq-c/) channels.

This announcement does not constitute a securities offer or solicitation. The described securities have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Source: Abitibi Metals Corp.