Perseverance Metals Inc. has announced a non-brokered private placement financing of up to C$8,000,005 to fund ongoing exploration across its critical minerals portfolio.

The offering consists of common shares priced at C$0.65 each. Perseverance intends to direct the net proceeds toward its ongoing diamond drill campaign at the Voyageur nickel-copper-cobalt-PGE project in Michigan's Upper Peninsula, continued exploration at the Lac Gayot project in Québec, and general corporate purposes.

Targeted for completion in early October 2026, the financing remains subject to customary conditions, including TSX Venture Exchange approval. All securities issued under the placement will be subject to a four-month-and-one-day statutory hold period under Canadian securities laws. Company insiders may participate in the offering, which is expected to be exempt from formal valuation and minority shareholder approval requirements under Multilateral Instrument 61-101. The company may also pay finder's fees to eligible finders subject to regulatory compliance and exchange policies.

The capital raise follows recent operational milestones across the company's assets. At Voyageur, Perseverance discovered a near-surface, magmatic nickel and copper sulphide-bearing mafic-ultramafic intrusion at the Osprey target following its inaugural drill program launched in June 2026. Final laboratory assays, intrusion geochemistry, and sulphide petrography for the Voyageur project are currently pending. In Québec, Perseverance launched its summer 2026 drill program at Lac Gayot in July to follow up on high-grade mineralised trends along the Venus East Trend.

Read the full announcement: Perseverance Metals Announces C$8 Million Private Placement Financing