Mr. Chris Morrison reports

ANTEROS METALS INC. ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Further to its press release of March 25, 2026, Anteros Metals Inc. has closed its non-brokered private placement through the issuance of 6,603,077 flow-through units at a price of 6.5 cents per flow-through unit and 11,716,000 hard-dollar units at a price of five cents per unit for aggregate gross proceeds of $1,015,000.

Each flow-through unit comprised one common share, issued on a flow-through basis, and one-half of one whole common share purchase warrant, issued on a non-flow-through basis. Each warrant shall entitle the holder thereof to acquire one common share in the capital of the company at a price of 10 cents per common share for a period of 24 months from the date of issuance, provided, however, that, should the closing price at which the common shares trade on the Canadian Securities Exchange (or any such other stock exchange in Canada as the common shares may trade at the applicable time) exceed 15 cents for 10 consecutive trading days at any time following the date that is four months and one day after the date of issuance, the company may accelerate the warrant term such that the warrants shall expire on the date that is 30 business days following the date a press release is issued by the company announcing the reduced warrant term. The flow-through shares will qualify as flow-through shares within the meaning of Subsection 66(15) of the Income Tax Act (Canada), which also qualify for the Canadian government's critical mineral exploration tax credit. Each unit comprised one common share and one-half of one whole warrant.

The net proceeds from the sale of the units will be used for general working capital purposes and the gross proceeds of the offering received from the sale of the flow-through shares will be used to incur Canadian exploration expenses that will qualify as flow-through critical mineral mining expenditures as such terms are defined in the Income Tax Act (Canada). All securities issued pursuant to the offering are subject to a hold period of four months plus one day from the date of issuance and the resale rules of applicable securities legislation.

In connection with the first and second tranches, the company: (i) paid aggregate cash commissions of $40,671; and (ii) issued an aggregate of 727,400 finder warrants to certain finders. Each finder warrant is exercisable to purchase one additional common share at a price of 10 cents per finder share for a period of two years from the date of issuance.

The offering constituted a related party transaction within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, as an insider of the company acquired 538,461 flow-through units pursuant to the offering. The company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101 as the company is not listed on a specified market and the fair market value of the participation in the offering by the insider does not exceed 25 per cent of the market capitalization of the company in accordance with MI 61-101. The company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the of the offering, which the company deems reasonable in the circumstances in order to complete the offering in an expeditious manner.

About Anteros Metals Inc.

Anteros Metals is a Canadian mineral exploration company focused on advancing projects in Newfoundland and Labrador and select Canadian jurisdictions, targeting critical minerals relevant to the energy transition.

We seek Safe Harbor.