The Fort Worth Press - North Sky Metals Corp. Provides Corporate Update and Announces Proposed $5.5 Million Financing

North Sky will use the proceeds from the financing to advance its portfolio of district‑scale copper and gold exploration assets located in the mining friendly jurisdictions of British Columbia and Nunavut. The Company has applied to list its common shares on the TSX Venture Exchange ("TSXV"), supported by a tight capital structure of approximately 46.5 million shares outstanding and strong insider ownership of roughly 25%. Listing remains subject to the Company fulfilling all the listing requirements of the TSXV.

The Company is also pleased to announce that its official website, www.northskymetals.com, is now live and provides additional information on its projects, strategy, and corporate developments.

Fieldwork completed over the past five years has defined multiple high‑priority, undrilled targets across the Company's flagship Natlan Project in British Columbia and the emerging Jet Copper Project in Nunavut. North Sky is positioned for a catalyst‑rich 2026 exploration season, with drilling planned on the Ace and Natlan West targets.

"North Sky is well positioned for a strong 2026, with a clear plan and a portfolio that remains largely underexplored for its scale and setting. With multiple undrilled porphyry targets at Natlan and a compelling copper opportunity at Jet, this is a true discovery-driven story. This current financing [outlined below] puts the company in a strong position to execute on its first drill programs and deliver consistent news flow as we move toward our planned TSXV listing." - Scott Ansell, CEO

Natlan Project (British Columbia)

The 100 km² Natlan Project hosts three compelling targets:

• Ace Target - Undrilled Cu‑Mo‑Au‑Ag Porphyry:
  A 1.75 km by 900 m multi‑element anomaly with strong coincident Induced Polarization (IP) chargeability, magnetic highs, and robust soil geochemistry. Porphyry‑style alteration includes Quartz-Sericite-Pyrite (QSP) and potassic associated with hydrothermal breccias, and stockwork veining. First‑ever drilling is planned for summer 2026.

• East Target - Undrilled Cu‑Au‑Mo Porphyry:
  A 2.5 km geochemical trend located along the margin of the Natlan intrusive stock, supported by strong chargeability/resistivity anomalies and magnetic highs. Not previously drilled.

• West Target - Epithermal Gold System:
  A greater than 750 m gold‑arsenic soil anomaly with soil values averaging ~50 ppb Au and grab samples up to 10.7 g/t Au. Historic drilling intersected broad low‑grade gold grades; new IP anomalies remain untested. Drilling is planned for 2026.

Jet Project (Nunavut)

The 110 km² Jet Project is located on Inuit‑owned land, 15 km from tidewater, and along the structural corridor hosting high‑grade copper deposits, including the historically defined Jura (June) deposit approximately 2km south of the Jet Property boundary. Recent drilling on Jura (June) by Somerset Minerals Ltd returned 42.7 m at 2.69% Cu underscoring the potential of the regional trend.

North Sky plans to survey the northern extension of this structural corridor in 2026 by airborne geophysics and district level mapping and prospecting activities.

Proposed Financing

The Company is pleased to announce a proposed non-brokered private placement financing for aggregate gross proceeds of up to C$5,500,000, comprised of the sale of a combination of non-flow-through and flow-through Special Warrants.

The Financing will consist of:

• Up to 5,714,285 non- flow-through Special Warrants ("NFT Special Warrants") at a price of $0.35 per NFT Special Warrant for gross proceeds of up to approximately C$2,000,000; and

• Up to 7,777,777 flow-through Special Warrants ("FT Special Warrants") at a price of $0.45 per FT Special Warrant for gross proceeds of up to approximately C$3,500,000 .

The FT Special Warrants and the NFT Special Warrants entitle the holder to acquire, without payment of any consideration in addition to that paid for the Special Warrant, one unit of the Company (a "Unit"), with such Unit consisting of one non-flow-through common share in the authorized share structure of the Company (a "Unit Share" and each common share in the authorized share structure of the Company, a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to acquire one additional Common Share at an exercise price of $0.55 for a period of 24 months from the date of issuance of the Special warrant giving rise to the issuance of the Warrant.

The Special Warrants may be exercised by the subscriber, in whole or in part, at any time following the closing date of the Financing. Any unexercised Special Warrants will be deemed to be exercised on that day which is the earlier of any of the following:

1. four months and one day has passed from the issuance of the Special Warrants by the Company;

2. the first business day following the day on which a receipt for a (final) prospectus (a "Prospectus") has been issued by or on behalf of the last of the securities commissions qualifying the distribution of the Units to be issued upon exercise of the Special Warrants; or

3. the Company has completed a transaction which provides holders of Special Warrants with comparable liquidity that such holders would have received if a (final) prospectus was filed and receipted, whether by way of a reverse-take-over, merger, amalgamation, arrangement, take-over bid, insider bid, reorganization, joint venture, sale off all or substantially all assets, exchange of assets or similar transaction or other combination with a public corporation or such other transaction as may be acceptable to the Company.

The FT Special Warrants will qualify as "flow-through shares" within the meaning of the Income Tax Act (Canada). The gross proceeds from the FT Special Warrants will be used to incur eligible Canadian exploration expenses that will be renounced to subscribers with an effective date no later than December 31, 2026.

The Company may pay eligible finders a finder's fees of up to 7% payable in cash in connection with the Financing, in accordance with applicable securities laws.

Closing of the Financing is subject to customary conditions, including regulatory approvals. All securities issued will be subject to an indefinite restriction on resale (i.e., a "hold period") under applicable securities laws until such time as the Company has become a "reporting issuer" in a jurisdiction of Canada.

Net proceeds from the Financing will be used to advance exploration activities on the Company's Canadian mineral properties and for general working capital purposes.

The minimum subscription amount for each subscriber under the Financing is C$3,500, subject to the discretion of the Company.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Arron Albano, B.Sc. Geology, who is a qualified person as defined in NI 43-101. Mr. Albano is the Exploration Manager of the Company.

About North Sky Metals Corp.

North Sky Metals Corp. is a Canadian mineral exploration company focused on the acquisition and advancement of high‑quality copper and gold assets in prospective jurisdictions across Canada. The Company is advancing multiple undrilled porphyry and high‑grade copper targets with a clear pathway to discovery‑driven value creation.

On behalf of the Management,

Scott Ansell
President & Chief Executive Officer
North Sky Metals Corp.

For further information, please contact:

Scott Ansell
(T) +1 (604) 536-2711
(E) [email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer for Forward-Looking Information

This news release contains certain statements that may be deemed "forward-looking information" with respect to the Company within the meaning of applicable securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause Company's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking information contained in this press release may include, without limitation, the expected initiation of exploration and drilling at the Company's projects and the results of the same, the expected successful completion of the Financing, the expected filing of the Prospectus, becoming a reporting issuer and the expected listing of the Company on the TSXV, and the expected financial performance of the Company. Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature, forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; adverse industry events; the receipt of required regulatory and TSXV approvals and the timing of such approvals; that the anticipated listing on the TSXV may not be completed; that the Company maintains good relationships with the communities in which it operates or proposes to operate; future legislative and regulatory developments in the mining sector; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; the risk that any of the assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work; risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits; the possibility that results will not be consistent with the Company's expectation; as well as other assumptions, risks and uncertainties applicable to mineral exploration and development activities and to the Company.

The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.

SOURCE: North Sky Metals Corp.

View the original press release on ACCESS Newswire

D.Ford--TFWP