Vancouver, British Columbia--(Newsfile Corp. - October 12, 2026) - Krait Critical Minerals Corp. (CSE: KRIT) (FSE: U0S) (the "Company" or "Krait") is pleased to announce that it has closed the third and final tranche of its previously announced non-brokered private placement (the "Offering").
The final tranche closed on October 9, 2026, with the issuance of 285,000 common shares (the "Shares") at a price of $0.75 per Share for gross proceeds of $213,750. No finder's fees were paid in connection with the final tranche.
Further to its news releases dated September 25, 2026, and October 4, 2026, the Company has now issued an aggregate of 2,301,099 common shares across three tranches of the Offering, raising total gross proceeds of $1,725,824.25. The Offering is now complete.
"Completing this financing provides Krait with additional capital to advance our exploration priorities and evaluate opportunities across our portfolio," said Oscar Mendoza, Chief Executive Officer and Director. "We thank our shareholders and new investors for their support and look forward to putting these funds to work through disciplined exploration and project evaluation."
The Company intends to apply the net proceeds toward exploration at Goldbar Spider Lake in Ontario, evaluation of its Washington State antimony interests through Nevada Hills Antimony LLC, and working capital and corporate expenses.
The Shares issued in connection with the first, second, and third and final tranches of the Offering, and the finder's warrants issued in connection with the first and second tranches, together with any common shares issued upon exercise of those finder's warrants before expiry of the applicable hold period, are subject to a statutory hold period of four months and one day from their respective dates of issuance, in addition to any applicable Canadian Securities Exchange ("CSE") restrictions.
About Krait Critical Minerals Corp.
Krait Critical Minerals Corp. is a Canadian mineral exploration company focused on advancing its Goldbar Spider Lake Project in Ontario while evaluating additional mineral opportunities in North America. The Company's strategy is to combine disciplined project evaluation, modern exploration technologies and responsible field programs to identify and advance high-quality exploration opportunities with the potential to create long-term shareholder value.
Krait's flagship asset is the Goldbar Spider Lake Project in Ontario's Thunder Bay Mining Division, approximately 20 kilometres east of Terrace Bay and 30 kilometres west-northwest of Marathon. The 3,636-hectare (approximately 8,985-acre) property comprises 148 mining claims and 171 claim units, and Krait has an option to earn a 100% interest, subject to a 3% net smelter return royalty. Located within the western Schreiber-Hemlo Greenstone Belt, the Project benefits from year-round access via Highway 17, nearby rail and power infrastructure, and proximity to established mining communities and service providers.
Krait acquired Nevada Hills Antimony LLC ("Nevada Hills") on September 16, 2026. Through Nevada Hills, Krait holds contractual interests relating to the Bales Antimony Project, together with interests in the Antimony Bell Project and other related assets in Washington State. The acquisition expanded Krait's critical-minerals portfolio to include U.S.-based antimony exploration opportunities.
Investors are encouraged to visit Krait's new corporate website at www.kraitminerals.com to learn more about the Company, its Goldbar Spider Lake Project, management team, corporate strategy and latest news.
All stakeholders are encouraged to follow the Company on LinkedIn, X.com, Facebook, and Instagram.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
On Behalf of the Board of Directors
Oscar Mendoza
Chief Executive Officer and Director
For further information, please contact:
Krait Critical Minerals Corp.
Steve Vanry - CFO
Phone: +1 604 671-9522
Email: steve@kraitminerals.com
Disclaimer for Forward-Looking Information
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking information") within the meaning of applicable Canadian securities laws. Forward-looking information is identified by words such as "expects," "intends," "plans," "anticipates," "may," "will," "could" and similar expressions. Forward-looking information in this release includes statements concerning the application of net proceeds; the Company's exploration expenditures and activities at Goldbar Spider Lake; evaluation of the Nevada Hills assets, including antimony opportunities in Washington State; and Krait's exploration and corporate plans.
Forward-looking information is based on management's expectations and assumptions as of the date of this release, including that market conditions will remain suitable; that required permits and property access will be obtained; that contractors and resources will be available; and that the Company will be able to carry out its planned activities and apply the proceeds as intended. These assumptions may prove incorrect.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied. These include changes in market conditions, exploration priorities or costs; permitting or access delays; contractor availability; adverse technical results; uncertainty in geological interpretation; risks relating to contractual property interests and obligations under applicable agreements; and the risk that actual use of proceeds differs from the plan. Additional risks are described in the Company's continuous disclosure filings available on SEDAR+ at www.sedarplus.ca.
There can be no assurance that planned exploration and evaluation activities will proceed as anticipated or result in a mineral discovery. Readers should not place undue reliance on forward-looking information. Except as required by applicable securities laws, the Company undertakes no obligation to update or revise such information as a result of new information, future events or otherwise.
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