Toronto, Ontario--(Newsfile Corp. - October 15, 2026) - ATERRA Metals Inc. (CSE: ATC) (OTCQB: CSSCF) ("ATERRA" or the "Company") is pleased to announce the closing of its previously announced brokered, best-efforts listed issuer financing exemption private placement offering (the "Offering") of common shares of the Company (the "Common Shares") at a price of $0.06 per Common Share (the "Issue Price") for aggregate gross proceeds of $8,355,000. The Offering was led by Research Capital Corporation, as lead agent and sole bookrunner, on behalf of a syndicate of agents including Desjardins Capital Markets (collectively, the "Agents").

The Offering was completed by way of the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions and in reliance on the amendments to Part 5A of NI 45-106 set forth in Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the "Listed Issuer Financing Exemption"). The Common Shares offered under the Listed Issuer Financing Exemption are not subject to resale restrictions pursuant to applicable Canadian securities laws.

The Company intends to use the net proceeds of the Offering to advance the Phase II exploration program at its Totora Copper-Gold Project, located in the Dos Amigos Mining District in Region III, Chile, and for general working capital and corporate purposes.

In connection with the Offering and services provided by the Agents, the Company paid aggregate cash fees of $410,167.90 and issued an aggregate of 6,669,465 broker warrants (the "Broker Warrants"). Each Broker Warrant is exercisable to acquire one Common Share at the Issue Price for a period of two years. The Broker Warrants and the Common Shares issuable on exercise thereof are subject to a four-month hold period pursuant to applicable Canadian securities laws and the policies of the Canadian Securities Exchange.

This press release is not an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements and applicable U.S. state securities laws.

ABOUT ATERRA Metals Inc.

ATERRA Metals Inc. is a mineral exploration company advancing copper-gold projects in Chile. The Company's flagship Totora Copper-Gold Project is located in the Dos Amigos Mining District of Region III, Chile, approximately 60 kilometres south of Vallenar. The Project comprises the Taruca, Clinton, Frontera and Sevilla properties and hosts the Frontera, Totora, Algarrobilla and Clinton copper-gold porphyry systems, together with earlier-stage exploration targets. The Company holds its interests in the Project under option agreements.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities legislation (collectively, "forward-looking information"). Forward-looking information relates to future events or future performance and reflects management's expectations or beliefs regarding such future events and performance based on information currently available to the Company.

Forward-looking information in this news release includes, but is not limited to, statements regarding: the Company's intended use of the net proceeds of the Offering; and the Company's future exploration, development and corporate activities generally.

Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans," "expects," "is expected," "scheduled," "estimates," "forecasts," "intends," "anticipates," "believes," "plans," "projects," "potential," "proposed," "will," "may," "could," "would," "might" or variations of such words and phrases, or statements that certain actions, events or results will, may, could, would or might occur or be achieved. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable by management as of the date of this news release, are inherently subject to significant business, economic and competitive uncertainties and contingencies.

The forward-looking information contained in this news release is based on a number of assumptions, including, without limitation: that the Company will have sufficient financial, technical and personnel resources to carry out its planned exploration activities; that permits, access, contractors, equipment and supplies will be available as required; that exploration and drilling programs can be conducted on the timelines and at the costs presently anticipated; that results of exploration, drilling and metallurgical test work will be consistent with management's expectations; and that commodity prices, foreign exchange rates and other economic conditions will not change materially in a manner adverse to the Company.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking information. Such risks and uncertainties include, without limitation: adverse changes in capital markets or general economic conditions; changes in the intended use of proceeds as a result of changes in circumstances or management's determination as to business needs; risks inherent in mineral exploration and development; the speculative nature of mineral exploration; uncertainty relating to the interpretation of exploration, drilling, geological and metallurgical results; variations in mineralization, grade or recovery; delays in exploration activities; availability and cost of drilling contractors, equipment, labour and supplies; permitting and access risks; environmental and social risks; changes in commodity prices, including copper and gold prices; changes in foreign exchange rates; political, regulatory and legal risks in the jurisdictions in which the Company operates; and other risks and uncertainties affecting the Company's business.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in, or implied by, forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information.

Readers are cautioned that the foregoing list of assumptions, risks and uncertainties is not exhaustive. The forward-looking information contained in this news release is made as of the date hereof and is expressly qualified in its entirety by this cautionary statement. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

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