Mr. Simon Ridgway reports

RACKLA METALS COMPLETES PRIVATE PLACEMENT FINANCING, RAISING $3.44 MILLION

Rackla Metals Inc. has closed its previously announced non-brokered private placement financing, raising total gross proceeds of $3.44-million with the issuance of 16.0 million charity flow-through units (the CFT units) at a price of 21.5 cents per unit.

Each CFT unit consists of one charity flow-through common share in the capital of the company that will qualify as a flow-through share within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and one-half of one common share purchase warrant. Each warrant entitles the holder thereof to acquire one non-flow-through common share at an exercise price of 20 cents per warrant share for a period of 12 months following the closing of the offering.

The gross proceeds from the sale of the CFT shares will be used by the company to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures for the purposes of the tax act on or before Dec. 31, 2027. Such gross proceeds will be renounced in favour of the purchasers with an effective date of not later than Dec. 31, 2026, in an aggregate amount equal to the total amount of the gross proceeds from the sale of CFT shares under the offering.

Management currently intends to use the proceeds of the offering primarily for conducting exploration and drilling on the company's Lentung tungsten property located within the Tombstone gold belt in western Northwest Territories, Canada, and potentially for advancing the company's other properties in the region.

The company has paid finders' fees for a portion of the offering consisting of cash payments totalling $139,329, and non-transferable warrants entitling the holders to purchase up to 928,856 common shares exercisable at a price of 21.5 cents per share for a period of 12 months following the closing of the offering.

The securities issued to the placees pursuant to the offering are not subject to resale restrictions pursuant to applicable Canadian securities laws. Any common shares acquired on exercise of the finder's fee warrants have a resale restriction until Sept. 23, 2026. The offering is subject to the final approval of the TSX Venture Exchange.

As one of the placees is an insider of the company and therefore deemed to be a related party to the company, the offering constitutes a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as neither the fair market value of any securities issued to nor the consideration paid by such insider exceeds 25 per cent of the company's market capitalization.

About Rackla Metals Inc.

Rackla Metals is a Vancouver, Canada-based, junior exploration company. The company is targeting tungsten, gold and rare-earth minerals in the southeastern part of the Tombstone gold-tungsten belt in eastern Yukon and western Northwest Territories. This region is known to host world-class gold and tungsten deposits.

We seek Safe Harbor.