Eranova Metals Announces $600,000 Non-Brokered Private Placement

May 19, 2026 8:00 AM EDT | Source: EraNova Metals Inc.

Vancouver, British Columbia--(Newsfile Corp. - May 19, 2026) - EraNova Metals Inc. (TSXV: NOVA) (OTCQB: STXPF) (the "Company" or "EraNova") is pleased to announce a non-brokered private placement (the "Private Placement") of up to 4,000,000 common shares of the Company ("Common Shares") at a price of $0.15 per Common Share for gross proceeds of up to $600,000.

The Company intends to use the net proceeds from the Private Placement to support ongoing technical work and completion of the NI 43-101 compliant Preliminary Economic Assessment ("PEA") on the Adanac Molybdenum Project, alongside marketing and investor awareness initiatives, and for general working capital purposes.

"Closing this financing is a significant step forward that allows us to finalize the completion of our Preliminary Economic Assessment, moving EraNova one step closer to proving the economic foundation of our flagship Adanac Molybdenum Project," stated Meredith Eades, President and CEO. "With our treasury bolstered, we are now fully funded to deliver this critical value-driving milestone, unlocking further potential for our shareholders into 2026."

The Ruby Creek Property hosts the Adanac Molybdenum Project alongside a growing pipeline of high-grade copper, gold, silver, tungsten, and rare earth element targets across the broader district-scale property.

It is anticipated that certain directors, officers or other insiders of the Company may acquire Common Shares under the Private Placement. Such participation will be considered a "related party transaction" within the meaning of TSX Venture Exchange Policy 5.9 (the "Policy") and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") adopted in the Policy. The Company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the Private Placement, 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 related parties, is expected to exceed 25% of the Company's market capitalization (as determined under MI 61-101).

Closing of the Private Placement is expected to occur as soon as practicable and may take place in one or more tranches. In connection with the Private Placement, the Company may pay finder's fees in cash of up to 7% of the gross proceeds from the sale of the Common Shares placed by the finders in accordance with the policies of the TSX Venture Exchange.

The Private Placement is subject to certain conditions, including but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. All securities issued under the Private Placement will be subject to a four-month and one-day statutory hold period in accordance with applicable securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any applicable U.S. state securities laws, and may not be offered or sold in the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About EraNova Metals Inc.

EraNova Metals is a Canadian mineral exploration and development company focused on advancing a portfolio of precious and base metal assets across western Canada.

The Company's flagship asset is the 29,700-hectare Ruby Creek Property near Atlin, British Columbia, which hosts the Adanac Molybdenum Project - a development-stage deposit currently advancing toward a NI 43-101 compliant Preliminary Economic Assessment ("PEA") - alongside a growing pipeline of high-grade copper, gold, silver, tungsten, and rare earth element targets across the broader district-scale property.

EraNova also holds a 100% interest in both the Big Ledge Zinc Project, located south of Revelstoke, British Columbia, and the South Thompson Nickel Project in Manitoba.

For further information on EraNova Metals, visit our website at eranovametals or contact:

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