Sankamap Metals arranges $5-million private placement

Jul 24, 2025

2025-07-23 13:54 ET – News Release

Mr. John Florek reports

SANKAMAP ANNOUNCES PRIVATE PLACEMENT

Sankamap Metals Inc. proposes to complete a non-brokered private placement financing of up to 22,727,272 units at a price of 22 cents per unit for gross proceeds of up to $5-million. Each unit will consist of one common share and one-half of a common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional share of Sankamap at an exercise price of 40 cents for a period of two years from the date or dates of closing of the offering. The gross proceeds from the sale of the units will be utilized to finance exploration and development of Sankamap’s projects and for general working capital.

Sankamap may pay finders’ fees to arm’s-length finders in connection with this placement, which are expected to be up to 6.0 per cent of the gross proceeds raised by such finder, in cash and share purchase warrants, on the same terms as the warrants, to acquire common shares of Sankamap of up to 6.0 per cent of the number of units sold to a purchaser or purchasers introduced by the finder(s).

The offering is subject to the approval of the Canadian Securities Exchange and any finders’ fees payable will be issued in accordance with the policies of the CSE and applicable securities laws. All securities issued will be subject to a four-month-and-one-day hold period.

About Sankamap Metals Inc.

Sankamap Metals is a Canadian mineral exploration company dedicated to the discovery and development of high-grade copper and gold deposits through its flagship Oceania project, located in the South Pacific. The company’s fully permitted assets are strategically positioned in the Solomon Islands, along a prolific geological trend that hosts major copper-gold deposits, including Newcrest’s Lihir mine, with a resource of 71.9 million ounces of gold (310 million tonnes containing 23 million ounces gold at 2.3 grams per tonne P+P (proven plus probable), 520 million tonnes containing 39 million ounces gold at 2.3 grams per tonne indicated, 81 million tonnes containing five million ounces gold at 1.9 grams per tonne measured and 61 million tonnes containing 4.9 million ounces gold at 2.3 grams per tonne inferred).

Exploration is actively advancing at both the Kuma and Fauro properties, part of Sankamap’s Oceania project in the Solomon Islands. Historical work has already highlighted the mineral potential of both sites, which lie along a highly prospective copper and gold-bearing trend, suggesting the possibility of further, yet-to-be-discovered deposits.

At Kuma, the property is believed to host an underexplored and largely untested porphyry copper-gold system. Historical rock-chip sampling has returned consistently elevated gold values above 0.5 gram per tonne gold, including a standout sample assaying 11.7 per cent copper and 13.5 grams per tonne gold, underscoring the area’s significant potential.

At Fauro, particularly at the Meriguna target, historical trenching has returned highly encouraging results, including 8.0 metres at 27.95 grams per tonne gold and 14.0 metres at 8.94 grams per tonne gold. Complementing these results are exceptional grab sample assays, including historical values of up to 173 grams per tonne gold, along with recent sampling by Sankamap at the Kiovakase target, which returned numerous high-grade copper values, reaching up to 4.09 per cent copper. In addition, limited historical shallow drilling intersected 35.0 metres at 2.08 grams per tonne gold, further underscoring the property’s strong mineral potential and the merit for continued exploration. With a commitment to systematic exploration and a team of experienced professionals, Sankamap aims to unlock the untapped potential of underexplored regions and create substantial value for its shareholders.

Qualified person disclosure

The technical content for the Oceania project in this news release has been reviewed and approved by John Florek, MSc, PGeol, a qualified person in accordance with CIM (Canadian Institute of Mining, Metallurgy and Petroleum) guidelines. Mr. Florek is in good standing with the Professional Geoscientists of Ontario (member ID: 1228) and is a director and officer of the company.

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https://sankamap.com/