Mr. Carl Hansen reports

ATERRA CLOSES $2.78 MILLION PRIVATE PLACEMENT

Aterra Metals Inc. has closed a non-brokered private placement financing for aggregate gross proceeds of $2.78-million. Insiders and consultants of the company purchased 13 per cent of the offering. Research Capital Corp. acted as the exclusive finder.

The offering consisted of the issuance of 139 million units at a price of two cents per unit, with each unit composed of one common share of the company and one-half warrant. Each warrant entitles the holder thereof to acquire one share from the company at a price of five cents per share for a period of 36 months.

The securities issued pursuant to the offering are subject to a statutory hold period of four months and one day from the closing date of the offering, unless otherwise exempt under applicable Canadian securities laws.

The company intends to use the net proceeds from the offering to finance option payments and exploration activities on the numerous copper-gold porphyries identified on its Clinton, Taruca and Frontera properties, collectively the Totora properties (see Aterra news release dated Nov. 20, 2025), as well as for working capital requirements and other general corporate purposes. Aterra plans to commence exploration activities, including mapping and geophysical surveys, shortly in preparation for a phase 1 drill program to commence during the current fiscal quarter.

"We are very thankful for the tremendous support received for this financing, not only from those who participated, but from our shareholders as well," said Carl Hansen, Aterra's chief executive officer. "With the financing closed, we will start exploring the Totora properties, which host at least four previously drilled copper-gold porphyries, including the Frontera deposit. Considering the significant historical drilling completed on the Totora properties, our focus will be on infill and expansion drilling in preparation for publishing a NI 43-101-compliant resource estimate during the third quarter 2026."

A director and an officer of the company purchased an aggregate of 6.75 million units under the offering, and, as a result, the offering is considered a related-party transaction subject to Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company is relying on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that participation in the offering by such persons did not exceed 25 per cent of the fair market value of the company's market capitalization.

The company paid aggregate cash finders' fees totalling $2,000 in accordance with the policies of the Canadian Securities Exchange.

National Instrument 43-101 disclosure

As defined by National Instrument 43-101 of the Canadian Securities Administrators, the qualified person for Aterra's exploration activities in Chile is Francisco Bravo, a resident of Santiago, Chile. Mr. Bravo is a public registered person for reserves and resources in Chile, and is also registered in the Colegio de Geologos de Chile. Mr. Bravo, who is not considered independent of the company, as the term is defined under NI 43-101, has reviewed and approved the technical information provided in this press release.

About Aterra Metals Inc.

Aterra is a mineral exploration company focused on exploration opportunities in Chile. The company's team of successful exploration professionals is dedicated to the discovery of mineral deposits that can be progressed into economically viable development projects creating value for all stakeholders.

We seek Safe Harbor.