Kiplin Metals Provides Update on Private Placement

(TheNewswire)

August 16th, 2023 TheNewswire - Kiplin Metals Inc. (TSXV:KIP) (the " Company " or " Kiplin ") is pleased to announce that it has elected to revise the terms of its ongoing non-brokered private placement (the " Offering ") being conducted under the Listed Issuer Financing Exemption (as defined below).  The Offering will now consist of up to 17,647,059 units of the Company (each, a " Unit ") at a price of $0.17 per Unit to raise gross proceeds of up to $3,000,000.  Each Unit will consist of one common share of the Company and one common share purchase warrant (each, a " Warrant ").  Each Warrant will entitle the holder to purchase one common share of the Company at a price of $0.23 at any time on or before that date which is twelve months after the closing date of the Offering.

The net proceeds raised from the Offering will continue to be used to advance the upcoming exploration program on the Cluff Lake Road (CLR) Uranium Project, located in the Southwestern Athabasca basis of Northern Saskatchewan, and for general working capital purposes.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (" NI 45-106 "), the Offering is being made to purchasers resident in Canada, except Quebec, pursuant to the listed issuer financing exemption under Part 5A of NI- 45-106 (the " Listed Issuer Financing Exemption ").  The securities offered under the Listed Issuer Financing Exemption will not be subject to a hold period in accordance with applicable Canadian securities laws.  A revised offering document related to the Offering will be filed by the Company, and will be accessible under the Company's profile at www.sedar.com and on the Company's website at: www.kiplinmetals.com .  Prospective investors should read this offering document before making an investment decision.

The Company may pay finders' fees to eligible parties who have assisted in introducing subscribers to the Offering.  Closing of the Offering remains subject to the approval of the TSX Venture Exchange.

About Kiplin Metals Inc.

Kiplin Metals Inc. is a mineral exploration company. We create value for our shareholders by identifying and developing highly prospective mineral exploration opportunities. Our strategy is to advance our projects from discovery all the way to production. This vertically integrated strategy allows Kiplin Metals to achieve exceptional shareholder value through the entire life-cycle of the mining process.

For further information, contact the Company at info@kiplinmetals.com or 604-622-1199, or visit the Company's website at www.kiplinmetals.com .

On behalf of the Board,

Kiplin Metals Inc.

"Peter Born"

Director

Neither the 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.

This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.

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