Azarga Metals Corp. has launched a non-brokered private placement aiming to raise gross proceeds of up to $2.5 million through the issuance of up to 13,888,889 common shares priced at $0.18 per share.

The financing proceeds will be allocated directly toward advancing exploration work at the company's 100% owned, high-grade copper-rich volcanogenic massive sulfide Marg project situated in the Keno Hill Silver District of the Yukon Territory, alongside general working capital requirements. Finder's fees may be payable on the placement, subject to the formal acceptance of the TSX Venture Exchange.

All common shares issued through the offering will be subject to a statutory four-month and one-day hold period under applicable securities laws. Completion of the private placement remains conditional upon receiving all necessary regulatory permissions, including formal approval from the exchange.

Azarga Metals consolidated full ownership of the Marg asset in July 2025 by exercising its option to purchase following a restructured agreement with Minera Alamos Inc. Building upon that consolidation, the company reported an independent mineral resource estimate for the property in September 2025. That estimate outlined an indicated resource of 4.3 million tonnes grading 2.9% copper equivalent and an inferred resource of 10.0 million tonnes grading 2.3% copper equivalent.

Advancing the property further based on those resources, Azarga Metals mobilized a diamond drill rig and supporting equipment to the project site to execute a planned 3,000-metre drill program spanning eight priority holes.

Read the full announcement: Azarga Metals Announces Non-Brokered Private Placement