Newmont Increases Stake in Metallic Minerals via Private Placement

Metallic Minerals Corp. has announced the completion of a non-brokered private placement with Newmont Corporation. Newmont acquired 3,224,700 units at $0.28 per unit, yielding $902,916. Each unit comprises one common share and half a share purchase warrant, allowing for further stock acquisition at $0.40 within three years.

The investment maintains Newmont's 9.2% stake in Metallic. Proceeds are earmarked for exploration and development at the La Plata project in Colorado, focusing on copper, silver, and additional minerals. A recent update to the project's mineral resource estimate shows significant expansion, incorporating substantial inferences of copper, silver, platinum, palladium, and gold.

The private placement aids in advancing field programs, with expectations for La Plata to be a key source of critical minerals essential for technology and economic growth in the U.S.