Mink Ventures Closes $881,920 in First Tranche of Non-Brokered Private Placement

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TORONTO, June 02, 2026 (GLOBE NEWSWIRE) — Mink Ventures Corporation (TSXV:MINK) (“Mink” or the “Company“) announces it has closed the first tranche of its non-brokered private placement (the “Offering’) announced on May 12, 2026. The Company has raised gross proceeds of $881,920 from the issuance of 4,578,500 hard dollar units (the “HD Units“) at a price of $0.10 per HD Unit and the issuance of 3,262,077 CMETC eligible flow-through units (the “FT Units”) at a price of $0.13 per FT Unit in this first tranche. A second and final closing of the Offering is expected to occur in mid June.

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Each HD Unit consists of one common share of the Company (a “Common Share”) and one Common Share purchase warrant (“HD Warrant”). Each HD Warrant shall entitle the holder thereof to acquire one (1) common share of the Company for a period of thirty-six (36) months from the date of issuance at an exercise price of $0.20.

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Each FT Unit consists of one Common Share of the Company (a “FT Share”) and one Common Share purchase warrant (“FT Warrant”). Each FT Warrant shall entitle the holder thereof to acquire one (1) common share of the Company for a period of thirty-six (36) months from the date of issuance at an exercise price of $0.20.

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All securities issued in the closing of this tranche of the Private Placement are subject to statutory four month plus a day hold periods expiring on October 3, 2026. The Private Placement is subject to obtaining final approval of the TSX Venture Exchange.

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Certain directors and officers of the Company purchased an aggregate of 257,000 FT Units pursuant to the Private Placement, constituting a “related party transaction” as such term is defined by Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The transaction will be exempt from the MI 61-101 valuation and minority approval requirements for related party transactions in connection with the Offering under sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves the Related Parties, exceeds 25% of the Company’s market capitalization (as determined under MI 61-101)

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The Company paid aggregate cash finder’s fees totaling $53,807.20 and issued 483,686 in non-transferable finder’s warrants (the “Finder’s Warrants“). Each Finder’s Warrant entitles the holder thereof to acquire one (1) common share of the Company for a period of thirty-six (36) months from the date of issuance at an exercise price of $0.20. All of the finder’s fees are subject to compliance with applicable securities legislation and TSX Venture Exchange policies

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The Company plans to use the net proceeds raised from the sale of the FT Units under the Offering for the exploration and advancement of the Company’s, Timmins area, critical minerals projects covering 115 km², which include the Montcalm Ni Cu Co project and the Warren Cu Ni Co project; and, in respect of the HD Unit proceeds under the Offering, for general working capital purposes. The Company plans to conduct a summer drill program testing several priority targets at both its Warren and Montcalm projects.

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About Mink Ventures Corporation:

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Mink Ventures Corporation (TSXV:MINK) is a Canadian mineral exploration company exploring for critical minerals (nickel, copper, cobalt) at its Warren and Montcalm projects, in the Timmins, Ontario area.  Mink’s flagship Montcalm Project covers 100 km² adjacent to Glencore’s former Montcalm Mine which had historical production of 3.93 million tonnes of ore grading 1.25% Ni, 0.67% Cu and 0.051% Co (Ontario Geological Survey, Atkinson, 2010). Its 100% owned, Warren Ni Cu Co Project, which covers 1,130 hectares is located 35 km away. Both projects have excellent access and infrastructure with an all-weather access road and power as well as its proximity to the skilled labour and facilities of the Timmins Mining Camp. After giving effect to the share issuance from this tranche of the Private Placement, the Company has 41,447,296 Common Shares outstanding.