EraNova Metals Announces Closing of Oversubscribed Non-Brokered Private Placement

EraNova Metals Inc. (TSXV: NOVA,OTC:STXPF) (OTCQB: STXPF) (the "Company" or "EraNova") is pleased to announce the closing of its previously announced non-brokered private placement (the "Private Placement"), raising gross proceeds of $627,524.70 through the issuance of 4,183,498 common shares of the Company (the "Common Shares") at a price of $0.15 per Common Share.

The Company announced the Private Placement on May 19, 2026, for gross proceeds of up to $600,000. Due to strong investor demand, the financing was oversubscribed.

The securities issued pursuant to the Private Placement are subject to a regulatory hold period expiring on October 6, 2026. The Private Placement is subject to the final approval of the TSX Venture Exchange.

Finder's fees in the aggregate amount of $39,726.75 ($1,750 to Stephen Avenue Securities; $2,625 to Research Capital Corporation; $3,501.75 to Canaccord Genuity Corp.; $2,100 to Ventum Financial Corp.; and $29,750 to Haywood Securities Inc.) were paid in connection with the Private Placement, representing 7% of the gross proceeds from the sale of Common Shares placed by the applicable finder.

The Company intends to use the net proceeds from the Private Placement to support ongoing technical work and completion of the NI 43-101 compliant Preliminary Economic Assessment ("PEA") on the Adanac Molybdenum Project, alongside marketing and investor awareness initiatives, and for general working capital purposes.

"This financing allows us to complete one of the most important milestones in the Company's history," said Meredith Eades, President and CEO of EraNova. "The Adanac Molybdenum Project already benefits from extensive historical drilling, engineering and permitting work, and the upcoming PEA will provide the first modern assessment of its economic potential. We believe this study has the potential to significantly enhance market understanding of the value of the project."

The Ruby Creek property hosts the Adanac Molybdenum Project, alongside the Atlin Discovery Project which hosts a growing pipeline of high-grade copper, gold, silver, tungsten targets across the broader district-scale property.

A certain director and officer of the Company participated in the Private Placement by acquiring an aggregate of 133,333 Common Shares under the Private Placement. Such participation constitutes a "related party transaction" within the meaning of the TSX Venture Exchange Policy 5.9 (the "Policy") and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") adopted in the Policy. The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the Private Placement, as neither the fair market value (as determined under MI 61-101) of the securities issued to the related party nor the consideration paid by the related party exceeds 25% of the Company's market capitalization (as determined under MI 61-101).

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or any applicable U.S. state securities laws, and may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from such registration requirements.

About EraNova Metals Inc.

EraNova Metals is a Canadian mineral exploration and development company focused on advancing a portfolio of precious and base metal assets across western Canada.

The Company's flagship asset is the 29,700-hectare Ruby Creek Property near Atlin, British Columbia, which hosts the Adanac Molybdenum Project - a development-stage deposit currently advancing toward a NI 43-101 compliant Preliminary Economic Assessment ("PEA") - alongside a growing pipeline of high-grade copper, gold, silver, tungsten, and rare earth element targets across the broader district-scale property.

EraNova also holds a 100% interest in both the Big Ledge Zinc Project, located south of Revelstoke, British Columbia, and the South Thompson Nickel Project in Manitoba.

For further information on EraNova Metals, visit our website at eranovametals.com or contact:

Twitter: @eranovametals
LinkedIn: EraNova Metals
Youtube: @eranovameatls

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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains certain forward-looking statements within the meaning of applicable securities laws. Forward-looking statements include, but are not limited to, statements regarding the intended use of proceeds from the Private Placement, the completion and timing of the Preliminary Economic Assessment on the Adanac Molybdenum Project, the advancement of the Company's projects, and the Company's future plans and objectives.

Forward-looking statements are based on a number of assumptions believed by management to be reasonable at the time such statements are made, including assumptions regarding: that all necessary regulatory approvals, including those of the TSX Venture Exchange, will be obtained in a timely manner; the availability of financing; the completion of technical work programs; that the Company will be able to use the proceeds of the Private Placement as currently anticipated; and general business and economic conditions. Actual results may differ materially from those expressed or implied by such forward-looking statements due to risks and uncertainties including, but not limited to: that required regulatory approvals may not be obtained in a timely manner or at all; that costs may exceed budget; and that changes in market conditions, commodity prices, regulatory requirements, financing availability, and technical or operational factors negatively impact the Company's operations or financing capabilities.

The assumptions used in the preparation of such forward-looking statements, although considered reasonable at the time of preparation, may prove to be imprecise. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this news release. The Company undertakes no obligation to update or revise any forward-looking statements if these beliefs, estimates and opinions or other circumstances should change except as required by applicable law.

Not for distribution to the United States newswire services or dissemination in the United States.

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