Mr. Sam Walding reports

INFINICO METALS ANNOUNCES THE CLOSING OF THE SECOND AND FINAL TRANCHE OF NON-BROKERED PRIVATE PLACEMENT

Further to the news releases of May 2, 2024, May 23, 2024, and June 19, 2024, Infinico Metals Corp. has closed the second and final tranche of its non-brokered private placement financing for gross proceeds of up to $1.4-million composed of the sale of: (i) hard-dollar units at a price of 7.5 cents per HD unit for gross proceeds of up to $400,000; and (ii) flow-through units at a price of nine cents per FT unit and charity flow-through units at a price of 13.8 cents per CFT unit, in any combination, for gross proceeds of up to $1-million. The second tranche consisted of the sale of 1,388,889 FT units for aggregate gross proceeds of $125,000. The first tranche, which closed on June 19, 2024, consisted of the sale of four million HD units for aggregate gross proceeds of $300,000 and 2,383,333 CFT units for aggregate gross proceeds of $328,900.

Each HD unit was composed of one common share in the capital of the company and one-half of one share purchase warrant, with each whole warrant exercisable by the holder for a period of 24 months from the date of issuance at a price of 15 cents per warrant. Each CFT unit and each FT unit were composed of one common share that qualifies as a flow-through share (within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and Section 359.1 of the Taxation Act (Quebec)) and one-half of one warrant, with each whole warrant exercisable by the holder for a period of 24 months from the date of issuance at a price of 15 cents per warrant.

The company will use an amount equal to the gross proceeds received by the company from the sale of the CFT units and FT units to incur eligible Canadian exploration expenses that will qualify as flow-through mining expenditures as such terms are defined in the Income Tax Act (Canada) and, in respect of Quebec resident subscribers who are eligible individuals, will qualify for inclusion in the exploration base relating to certain Quebec surface mining or oil and gas exploration expenses and the exploration base relating to certain Quebec exploration expenses of the corporation as such terms are defined in the Taxation Act (Quebec) related to the company's properties located in Quebec on or before Dec. 31, 2025, and to renounce all the qualifying expenditures in favour of the subscribers of the FT units and CFT units, effective Dec. 31, 2024. The gross proceeds received by the company from the sale of the HD units shall be used for general working capital purposes.

In connection with the offering, the company paid to certain finders an aggregate of: (i) a cash commission of $19,300; and (ii) 235,111 compensation warrants. Each compensation warrant entitles the holder thereof to acquire one share at a price of 15 cents per common share until the date that is 24 months following the closing date of the issuance.

The offering is subject to regulatory approval, including the approval of the TSX Venture Exchange, and all securities issued and issuable pursuant to the offering will have a hold period of four months and one day.

About Infinico Metals Corp.

Infinico is a public company on the TSX Venture Exchange focusing on the exploration for critical metals in the province of Quebec. The company has signed option agreements on the Nicobi project, hosting magmatic nickel-copper-cobalt sulphide mineralization, and on the Dalhousie project, which also hosts magmatic Cu-Co-Ni sulphide mineralization, and a recently discovered lithium-bearing pegmatite.

We seek Safe Harbor.