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| Use of Available Funds (1) | ($) |
| Exploration Program | 257,000 |
| Identification, Evaluation and Acquisition of Additional Mineral Projects | 100,000 |
| Estimated Remaining Expenses of the Listing | 70,000 |
| General and Administrative Costs For the 12 Months Following Listing | 223,000 |
| Marketing and Investor Relations (2)(3) | 258,432 |
| Expenses for the Offering | 15,000 |
| Finder’s Fees for the Offering | 35,000 |
| Unallocated and General Working Capital (2)(3) | 1,123,256 |
| TOTAL: | 2,081,688 |
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| Notes: | |
| (1) | The table assumes the full $1,500,000 has been raised under the Offering. Actual allocations, including for marketing and investor relations, may vary based on actual proceeds raised. |
| (2) | Effective May 21, 2026, the Company engaged Spark Newswire Inc. to provide investor relations services for a fee of USD $62,500 per month (approximately CAD $86,144 per month). The term of the agreement is for 12 months and may be terminated by either party on 30 days’ notice. Three months of fees have been included in this allocation. If the Company continues with this engagement beyond three months, the additional costs will be funded from unallocated and general working capital. |
| (3) | The Company intends to allocate general working capital for any operational activities that support the Company’s business objectives, including for marketing and general corporate purposes. |
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The Company intends to spend the net funds available to it as stated above. The actual allocation of the available funds may vary depending on future developments or unforeseen events. Notwithstanding the foregoing, there may be situations where, due to change of circumstance, outlook, research results and/or business judgment, reallocation of funds is necessary in order for the Company to achieve its overall business objectives. The Company’s management has, and will continue to have, the discretion to modify the allocation of the Company’s available funds. If management determines that a reallocation of funds is necessary, the Company may redirect its available funds towards purposes other than as described above. The actual amount that the Company spends in connection with each of the intended uses of funds may vary significantly from the amounts specified above and will depend on a number of factors, including those referred to under “Risk Factors” in its Prospectus.
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The Company also announces a clarification to its previous news release dated May 15, 2026. Specifically, the Company granted an aggregate of 2,200,000 stock options (the “Options”) to certain directors, management, and consultants of the Company on May 15, 2026, pursuant to the Company’s 2026 Omnibus Equity Incentive Compensation Plan, rather than 700,000 Options and 1,500,000 restricted share units as previously disclosed. All other information related to Options remains unchanged – each Option is exercisable to acquire one common share of the Company at an exercise price of $0.25 per share; the Options vest immediately upon grant and will expire three years from the date of grant.
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About Purecore
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Purecore Metals Inc. is a mineral exploration company listed on the Canadian Securities Exchange (CSE: PURE) and the Frankfurt Stock Exchange (FSE: J8Y). The Company is focused on advancing the materials that power modern energy systems and emerging technologies. The Company is building a critical minerals portfolio aligned with long-term trends across the energy, technology, and defense sectors, with a strategy centered on high-impact opportunities and disciplined execution.
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Contact Us
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For further information, interested parties are encouraged to visit the Company’s website at www.purecoremetals.com, and to contact the Company by email at [email protected] or by phone at 1.877.844.4661.
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On behalf of the Board of Directors of
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PURECORE METALS INC.
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Peter Berdusco
Chief Executive Officer
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Cautionary Statement Regarding Forward-Looking Information
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This press release contains certain forward-looking statements, including statements regarding: the Company completing the Offering, the size of the Offering, and the intended use of funds; the terms of the Warrants, including the acceleration provisions thereof; and the engagement and continuation of Spark Newswire Inc. and the services to be provided thereunder. The words “expects,” “anticipates,” “believes,” “intends,” “plans,” “will,” “may,” and similar expressions are intended to identify forward-looking statements. Although the Company believes that its expectations as reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties. Actual results may differ materially from those expressed or implied in these statements due to various factors, including, but not limited to: the availability of financing; the ability to complete the Offering on the terms described or at all; the ability to deploy proceeds as intended; fluctuations in commodity prices; operational and exploration risks; market conditions; and political and regulatory risks in Canada. Readers are cautioned not to place undue reliance on forward-looking statements, which are made as of the date of this release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws.
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Neither the CSE nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.
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English (US)