Highlights:
- Closed second and final tranche of previously announced non-brokered private placement for $2.76 million, and aggregate gross proceeds of $5.26 million
- Financing led by mining industry leader Daniel Earle, President & CEO of Highlander Silver Corp.
- Daniel Earle becomes a significant shareholder of Stardust
- No finders’ fees paid in connection with the financing
- Proceeds to fund exploration and drilling at McGarry and Omega projects
Toronto, Ontario–(Newsfile Corp. – June 12, 2026) – Stardust Metal Corp. (CSE: ZIGY) (“Stardust” or the “Company“) is pleased to announce that it has completed the second and final tranche (the “Second Tranche”) of its previously announced non-brokered private placement financing (the “Offering“), raising aggregate gross proceeds of approximately $5.26 million.
The Second Tranche consisted of 4,255,319 premium flow-through units (“PFT Units“) issued at a price of $0.6486 per PFT Unit for aggregate gross proceeds of approximately $2,759,999.90.
With the completion of the Second Tranche, Stardust has now completed the Offering for total aggregate gross proceeds of approximately $5.26 million, consisting of flow-through units, premium flow-through units and non-flow-through units, as originally announced on May 22, 2026.
“We are pleased to complete this financing and grateful for the strong support received from Daniel Earle, insiders and long-term shareholders of the Company,” said Stephen Stewart, Chairman of Stardust. “The successful completion of the Offering significantly strengthens our balance sheet and positions Stardust to aggressively advance exploration across our KL West, McGarry and Omega projects. We believe these assets are strategically positioned within one of Canada’s most prospective gold districts and look forward to commencing the next phase of exploration.”
Daniel Earle has over 20 years of experience in the mining industry and capital markets. Mr. Earle currently serves as the President and CEO of Highlander Silver Corp. and Strategic Advisor to KEWA Financial Inc. and Andina Copper Corporation. Prior to that, Mr. Earle served as President and CEO of Solaris Resources and was a Vice President and Director at TD Securities covering the mining sector for more than 12 years.
Each PFT Unit consisted of one common share of the Company issued as a “flow-through share” within the meaning of the Income Tax Act (Canada) and one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share of the Company at an exercise price of $0.70 per share for a period of 24 months from the date of issuance.
The proceeds of the PFT Units will be used to incur eligible “Canadian exploration expenses” that qualify as “flow-through mining expenditures” under the Income Tax Act (Canada) related to the Company’s projects in Ontario. The Company plans to incur qualifying expenditures on or before December 31, 2027 and renounce such expenditures in favour of subscribers effective December 31, 2026.
Proceeds of the Offering will be used to fund the Company’s drilling and exploration programs on McGarry and Omega and for working capital requirements and general corporate purposes.
All securities issued in connection with the Second Tranche are subject to a four-month hold period under applicable securities laws. No finders’ fees or commissions were paid in connection with the Offering.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities referred to in this news release have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons, absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.
About Stardust Metal
Stardust is a gold exploration company with assets on the world class Cadillac Break and adjacent to Agnico Eagle, Barrick, Pan American and Gold Candle. Its main assets include the McGarry and Omega projects, in addition to its Kirkland West and Goldie projects. McGarry also contains a large historic tailings complex in the Kirkland Lake region.
For further information, please contact:
Janet Meiklejohn
Phone: 416.644.1567
Email: jmeiklejohn@oregroup.ca
Forward-Looking Statements
This news release contains certain statements that constitute forward looking information within the meaning of applicable securities laws. These statements relate to future events of the Company including the expected use of proceeds, the ability of the Company to make qualifying expenditures, and other matters ancillary or incidental thereto. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “forecast”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “outlook” and similar expressions are not statements of historical fact and may be forward looking information. All statements, other than statements of historical fact, included herein are forward-looking statements.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include, among others, the inherent risk of the mining industry; adverse economic and market developments; the risk that the Company will not be successful in completing additional acquisitions; risks relating to the estimation of mineral resources; the possibility that the Company’s estimated burn rate may be higher than anticipated; risks of unexpected cost increases; risks of labour shortages; risks relating to exploration and development activities; risks relating to future prices of mineral resources; risks related to work site accidents, risks related to geological uncertainties and variations; risks related to government and community support of the Company’s projects; risks related to global pandemics and other risks related to the mining industry. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update any forward‐looking information except as required by law. Additional information identifying risks and uncertainties is contained in filings by Stardust with Canadian securities regulators, which filings are available under Stardust profile at www.sedarplus.ca.
Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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