Mr. Lorne Warner reports

BATHURST METALS ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Bathurst Metals Corp. has arranged a non-brokered private placement financing of units of the corporation at a price of eight cents per unit for up to 18.75 million units and for aggregate gross proceeds of up to $1.5-million.

Each unit comprises one common share of the corporation and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to acquire one additional share at an exercise price of 16 cents per warrant share for a period of 36 months immediately following the closing date (as defined below).

The corporation expects to close the private placement on or about July 24, 2026, or such other date as the corporation may determine in its sole discretion.

The net proceeds of the private placement will be used to finance continuing exploration work in Nunavut and British Columbia, Canada, operating and administrative expenses, working capital, and general corporate purposes.

In connection with the private placement, the corporation may pay to certain arm's-length parties a commission, finder's fee or similar payment (whether in the form of cash, securities or an interest in assets). Further information regarding such fee, if paid, shall be disclosed in a further news release of the corporation.

Completion of 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. The TSX-V has not approved the offering Price or the exercise price, and these remain subject to the change. The shares, warrants and the warrant shares will be subject to a statutory hold period of four months plus one day from the closing date, in accordance with applicable securities legislation.

It is expected that certain insiders of the corporation (as such term is defined under the policies of the TSX-V) may participate in the private placement. The participation of insiders in the private placement will constitute a related party transaction within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The corporation intends to rely upon exemptions from the formal valuation and minority approval requirements of MI 61-101 based on a determination that the fair market value of the private placement, insofar as it involves the related parties, does not exceed $2.5-million.

About Bathurst Metals Corp.

Bathurst Metals is an exploration-stage company engaged in the acquisition, exploration, and development of mineral properties in Nunavut and British Columbia, Canada. The company holds a 100-per-cent interest in the Turner Lake, TED and Gela Lake projects in Nunavut, and holds the option to earn a 100-per-cent interest in the Peerless property, a gold/silver prospect in the historic Bralorne camp in British Columbia.

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