StraightUp Resources Closes Second Tranche of $2.0 Million Financing

Straightup Resources Inc. (CSE: ST) ("StraightUp" or the "Company") is pleased to announce that it has closed the second tranche of its financing previously announced on September 3, 2021. The Company has raised $588,000 through the issuance of 2,940,000 units of the Company (the "Units") at $0.20 per Unit. Each Unit consisted of one common share of the Company (each, a "Share") and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant entitles the holder thereof to acquire one Share at $0.30 per Share for a period of 24 months from the date of issuance. The Company paid eligible finders finder's fee of $41,160 and issued to eligible finders 205,800 finder's warrants. Each finder's warrant entitles the holder thereof to acquire one Share at $0.30 for a two-year term. The Shares, Warrants and finder's warrants are subject to a four-month hold period.

About Straightup Resources

StraightUp is engaged in the business of mineral exploration and the acquisition of mineral property assets in Canada. Its objective is to locate and develop economic, precious and base metal properties of merit. StraightUp intends to conduct exploration on the RLX North, RLX South, Belanger and the Ferdinand Gold Property, all located in the Red Lake Mining Division, as well as the recently acquired Bear Head Gold Project, located within the Meen-Dempster Greenstone Belt of the Uchi Subprovince, approximately 80km west of the Pickle Lake Gold Camp. The Company's newest acquisition, the West Cat Mine, includes an unpatented lode mining claim on federal land in the historic Beatty Mountain Nevada Mining District in Nye County, Nevada. The West Cat Mine is part of a 20.66-acre land package discovered in the early years of the Bullfrog mining boom and provides an area ready for large scale operations to come.

On Behalf of the Board of Directors

Mark Brezer Chief Executive Officer, President and Director

For further information, please contact:

Mark Brezer
Chief Executive Officer, President and Director
(604) 989-6275

Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release).

Not for Distribution to United States News Wire Services or for Dissemination in the United States

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97948

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Straightup Resources

Straightup Resources

Straightup Resources (CSE:ST) is a mineral exploration company focused on the acquisition and development of assets in North America. The company is targeting economic precious and base metal properties, specifically those found in historical mining districts such as the Red Lake Mining District of Ontario. The company’s approach involves leveraging modern exploration techniques in order to improve its understanding of its projects.

Straightup Resources’ Belanger goldcopper property and the RLX gold property are both located in the Red Lake Mining District, where approximately 30 million ounces of gold have been produced since the 1920s. Straightup Resources’ flagship Belanger property comprises 2,100 hectares and is surrounded by a number of existing deposits including Infinite Ore’s polymetallic Copperload “A” deposit, the Garnet/Arrow deposit and the historic South Bay Mine VMS deposit.

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