Sego Resources Completes $625,800 Financing

Nov 5, 2025

Vancouver, British Columbia–(Newsfile Corp. – November 5, 2025) – Sego Resources Inc., (TSXV: SGZ) (“Sego” or “the Company”) is pleased to announce that it has received conditional approval from the TSX Venture Exchange for closing of the final tranche of the financing announced on July 8, 2025, and August 7, 2025, November 4, 2025. On closing of the final tranche, Sego will issue 7,200,000 Flow-Through Units at $0.025 per unit for gross proceeds of $180,000 and 11,990,000 Non-Flow-Through Units at $0.02 per unit for gross proceeds of $239,800. All securities issued on closing of the final tranche are subject to the applicable statutory four-month and one-day hold period ending March 5, 2026.

Each Flow-Through Unit will consist of one flow-through common share and one share purchase warrant. Each share purchase warrant will entitle the holder to purchase an additional common share at $0.05 for two years from the closing date. The Company will use the gross proceeds from the issuance of Flow-Through common shares to incur “Canadian exploration expenses” and qualify as “flow-through mining expenditures”, as such terms are defined in the Income Tax Act (Canada).

Each Non-Flow-Through Unit will consist of one common share and one share purchase warrant. Each share purchase warrant will entitle the holder to purchase an additional common share at $0.05 for three years from the closing date.

On August 7, 2025, Sego completed the first tranche of the financing in which it issued 10,300,000 Non-Flow-Through Units for gross proceeds of $206,000. Total gross proceeds of the financing are $625,800.

The proceeds of the financing will be used for exploration at the Company’s Miner Mountain Project and for general working capital. Exploration expenditures in excess of the gross flow-through funds raised will be eligible for a BC Mining Exploration Tax Credit of 30%. The Exploration spending is expected to be in excess of $200,000. No funds will be paid for Investor Relations Services.

Finder’s fees were payable on a portion of the private placement and consisted of 7% cash and 7% broker warrants, where applicable. Total finder’s fees on the private placement were $15,750 cash; 87,500 three-year broker warrants exercisable at $0.05, and 280,000 two-year broker warrants exercisable at $0.05. The broker warrants will have a hold period of 4 months and one day expiring on March 5, 2026. No payments will be made to non-arms length parties.

Insiders of the Company subscribed for 5,440,000 units with Paul McGroary, a director of the Company, subscribing for 1,120,000 units and Elliot Strashin and Strashin Developments Limited, a deemed insider of the Company, subscribing for 4,320,000 units. As a result, the private placement is a related-party transaction (as defined under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The Company relied upon Section 5.5 (a) (Fair Market Value Not More Than $2.5 million), Section 5.5(c) (Distribution of Securities for Cash), and exemptions from the formal valuation and minority shareholder approval requirements, respectively, under MI61-101.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements thereunder.

There is no material change about the Company that has not been generally disclosed.

For further information, please contact:

J. Paul Stevenson, CEO (604) 682-2933
[email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No regulatory authority has approved or disapproved the information contained in this news release.

This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statement of historical facts that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects re forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, statements are not guarantees of future performance and actual results or developments may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

https://segoresources.com/