Blende Silver Corp. has closed the first tranche of its non-brokered private placement, raising gross proceeds of $1,142,500 to fund ongoing work at its flagship property in north-central Yukon.

The financing involved issuing 1,690,000 flow-through units priced at $0.25 each to raise $422,500, alongside 3,600,000 non-flow-through units priced at $0.20 each to generate $720,000. Each unit consists of one common share and a corresponding share purchase warrant exercisable at $0.30 per share until September 16, 2028. All warrants issued under the offering are non-flow-through securities.

The capital raised will be directed toward advancing the Blende property and supporting general working capital requirements. The first tranche remains subject to formal approval from the TSX Venture Exchange, and the securities issued carry a statutory hold period of four months and one day expiring on January 17, 2027. In connection with the closing, Blende Silver paid $75,600 in finder’s fees and issued 252,000 finder’s warrants exercisable at $0.20 alongside 100,800 finder’s warrants exercisable at $0.25 until September 16, 2028.

The private placement remains open for further subscriptions.

The 100%-owned Blende Project covers 5,345 hectares in north-central Yukon and has accumulated more than $9.2 million in past exploration expenditures, including 25,195 metres of drilling across 132 drill holes. Historical literature has described the property as hosting the largest carbonate-hosted silver-zinc-lead deposit in the Yukon. Field activities at the project are set to include drilling designed to test 3D induced polarization chargeability anomalies following the mobilization of field crews and equipment.

Read the full announcement: Blende Silver Closes Tranche One of Private Placement for Proceeds of $1,142,500