Mr. Fahad Al-Tamimi reports

MASON RESOURCES ANNOUNCES FULLY SUBSCRIBED PRIVATE PLACEMENT FINANCING WITH STRONG INSIDER PARTICIPATION

Mason Resources Inc. has arranged a fully subscribed non-brokered private placement for gross proceeds of $1.4-million. Fahad Al Tamimi, chairman of the board of directors, intends to participate in the offering, which will result in an increase in his ownership stake to approximately 19.2 per cent on a partially diluted basis. The net proceeds of this offering shall be used for general corporate purposes and working capital.

The offering will consist of a minimum of 28 million units at a price of five cents per unit. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share at an exercise price of 7.5 cents for a period of three years from the closing date (as defined herein).

Prior to the offering, Mr. Al Tamimi held 19,916,837 shares, representing 14.1 per cent of Mason's total issued and outstanding shares. Upon closing, Mr. Al Tamimi is expected to hold 26,896,837 shares, representing 15.89 per cent of the total issued and outstanding shares, along with 6,980,000 warrants, which equates to a 19.22-per-cent ownership on a partially diluted basis.

Fahad Al-Tamimi, chairman of Mason, commented: "This financing brings in additional high-quality, long-term investors, further strengthening the company's robust institutional shareholder base. With Mason's current strategic investments, we believe the company is well positioned to support a rerating of its share price. I am incredibly excited about Mason's portfolio, particularly its investments in Nouveau Monde Graphite and Black Swan Graphene, both of which are at the forefront of their respective industries and poised for significant growth.

"Beyond these flagship investments, Mason holds a portfolio of promising investments that align with our strategic vision. We are confident that the actions we are taking will create substantial value for our shareholders in both the near and long term."

The offering is scheduled to close on or about Jan. 13, 2025, and is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange. The common shares, including those underlying the warrants, to be issued under the offering will be subject to a hold period in Canada expiring four months and one day from the closing date of the offering. It is anticipated that insiders of the company will subscribe for 24.9 per cent of the offering. Participation by insiders of the company in the offering constitutes a related party transaction, as defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The issuance of securities is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as the fair market value of the insiders' participation in the private placement, as determined in accordance with MI 61-101, shall not exceed 25 per cent of the company's market capitalization.

About Mason Resources Inc.

Mason Resources is a Canadian corporation focused on seeking investment opportunities. Mason is the largest shareholder of Black Swan Graphene Inc., which is focusing on the large-scale production of patented, high-performance and low-cost graphene products aimed at several industrial sectors, including polymers and concrete.

Mason is also a large shareholder of Nouveau Monde Graphite Inc., an integrated company developing responsible mining and advanced manufacturing operations to supply the global economy with carbon-neutral active anode material to power EV (electric vehicle) and renewable energy storage systems.

Mason is a shareholder of Astra Exploration Inc. and NorthX Nickel Corp.

Mason is also a strategic shareholder of Sand Minerals Inc., a recently established private company founded by William Randall and the former team of Arena Minerals Inc., which was acquired by Lithium Americas Corp. in a $311-million transaction in 2023.

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