Vancouver, British Columbia--(Newsfile Corp. - September 24, 2026) - Scottie Resources Corp. (TSXV: SCOT) (OTCQB: SCTSF) (FSE: SR80) ("Scottie" or the "Company") is pleased to announce that it has entered into an agreement with Velocity Trade Capital Ltd., as sole bookrunner, and Agentis Capital Markets (AFN Limited Partnership), as co-lead agent, on behalf of a syndicate of agents (collectively, the "Agents"), in connection with a "commercially reasonable efforts" private placement (the "Offering") of up to 3,448,275 common shares of the Company (the "Offered Shares") at a price of C$2.90 per Offered Share (the "Offering Price") for aggregate gross proceeds to the Company of up to approximately C$10 million.
The Company has agreed to grant the Agents an option to sell up to 689,655 additional Offered Shares at the Offering Price for aggregate gross proceeds of up to approximately C$2 million, exercisable in whole or in part at any time up to 48 hours prior to the Closing Date (as defined below) (the "Agents' Option").
In consideration for the Agents' services with respect to the Offering, the Company will: (i) pay to the Agents a cash commission equal to 6.0% of the aggregate gross proceeds of the Offering (including the Agents' Option, if applicable), provided that no cash commission shall be payable in respect of gross proceeds of up to C$3 million from purchasers on the president's list to be agreed to among the Company and the Agents (the "President's List"), and (ii) issue warrants (the "Compensation Warrants") to purchase that number of common shares of the Company equal to 6.0% of the aggregate number of Offered Shares sold pursuant to the Offering (including the Agents' Option, if applicable), provided that no Compensation Warrants shall be payable in respect of purchasers on the President's List. Each Compensation Warrant will be exercisable to acquire one common share of the Company at the Offering Price for a period of 24 months following the Closing Date.
The Company further announces that it has amended the size of the previously announced non-brokered private placement announced on September 11, 2026 (the "Non-Brokered Offering") to C$17 million. The Non-Brokered Offering is expected to be completed concurrently with the Offering. The Offering and the Non-Brokered Offering, together, are expected to provide aggregate gross proceeds to the Company of up to C$27 million, or up to C$29 million if the Agents' Option is exercised in full.
The gross proceeds from the issue and sale of the Offered Shares will be used for working capital and general corporate purposes, including work related to the technical studies and permitting currently underway at the Scottie Gold Mine Project. The Offering is scheduled to close on or about October 7, 2026 (the "Closing Date") and remains subject to regulatory approval, including the approval of the TSX Venture Exchange (the "TSXV"). The Offered Shares issued pursuant to the Offering will be subject to a statutory four-month hold period.
This press release does not constitute an offer of sale of any of the Offered Shares in the United States. None of the foregoing securities have been and will not be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act"), or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of the foregoing securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.
ABOUT SCOTTIE RESOURCES CORP.
Scottie Resources holds a 100% interest in the Scottie Gold Mine Property, which includes the high-grade, past-producing Scottie Gold Mine and the adjacent Blueberry Contact Zone. The Company also owns a 100% interest in the Georgia Project, host to the past-producing Georgia River Mine, as well as the Cambria, Sulu, and Tide North properties. In total, Scottie controls approximately 58,500 hectares of highly prospective mineral claims within the Stewart Mining Camp in British Columbia's Golden Triangle-one of the world's most prolific mineralized districts.
Scottie's current resource estimate on the Scottie Gold Mine Project includes a total of 703,000 gold ounces at an average grade of 6.1 g/t (Inferred category) in 3.6 million tonnes, highlighting the development potential for a significant near-surface, high-grade deposit. The Company's strategy is to continue expanding this resource and to define additional mineralization around past-producing mines through systematic drilling and surface exploration.
The Company has recently completed a PEA for the Scottie Gold Mine (Bird et al., October 28, 2025, Scottie Gold Mine Project, SEDAR+). The PEA outlines a robust ore sorting and Direct-Ship Ore (DSO) development scenario with strong economics and significant upside through a potential toll-milling option utilizing excess capacity at the nearby Premier mill. The base case DSO project delivers an after-tax NPV(5%) of $215.8-$668.3 million at gold prices of US$2,600-$4,200/oz, respectively. Under the toll-milling scenario, project economics improve substantially, with an after-tax NPV(5%) of $380-$832 million (no agreement currently in place). The PEA estimates initial capital costs of $129 million, average annual production of ~65,400 oz gold over seven years, and a payback period of 1.7 years for the after-tax DSO case-reduced to just 0.9 years under the toll-milling opportunity at US$2,600/oz.
Additional Information:
Brad Rourke
Executive Chair
+1 250 877 9902
brad@scottieresources.com
Forward-Looking Statements
This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this news release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. These forward-looking statements include, among other things, statements relating to the completion and size of the Offering, including the exercise of the Agents' Option; the completion and size of the Non-Brokered Offering; the anticipated concurrent completion of the Offering and the Non-Brokered Offering; the aggregate gross proceeds expected to be received from the Offering and the Non-Brokered Offering; the anticipated use of proceeds from the Offering; the anticipated Closing Date; the timing and receipt of all required approvals, including TSXV approval, in connection with the Offering and the Non-Brokered Offering; and discussion of future plans, projects, objectives, estimates and forecasts and the timing related thereto.
Such forward-looking statements are based on a number of assumptions of management, including, without limitation, the Company's ability to continue with its stated business objectives and obtain required approvals; the ability of the Company to complete the Offering and the Non-Brokered Offering, including at the anticipated sizes, on the terms and within the timelines described herein; the concurrent completion of the Offering and the Non-Brokered Offering; the exercise, in whole or in part, of the Agents' Option; the Company's ability to obtain all required regulatory and other approvals, including TSXV approval, in connection with the Offering and the Non-Brokered Offering; and the Company's anticipated use of the proceeds actually received from the Offering. Additionally, forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: risks associated with the business of the Company; risks related to the satisfaction or waiver of the conditions to closing of the Offering and the Non-Brokered Offering; the failure of the Company to obtain all required regulatory and other approvals, including TSXV approval, in connection with the Offering or the Non-Brokered Offering; the inability of the Company to complete either or both of the Offering and the Non-Brokered Offering, concurrently or otherwise, on the terms, at the anticipated sizes or within the timelines described herein; the Agents' Option not being exercised in full or at all; the actual use of proceeds differing from the anticipated use of proceeds; and other risk factors detailed from time to time in the Company's filings with Canadian securities regulators on SEDAR+ in Canada (available at www.sedarplus.ca).
Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this news release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this news release by you or any of your representatives or for omissions from the information in this news release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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