Mosaic Closes Second Tranche of a Private Placement

Montreal, Quebec--(Newsfile Corp. - October 8, 2026) - Mosaic Minerals Corporation (CSE: MOC) ("Mosaic" or the "Company") is pleased to announce the closing of a second tranche of a private placement of units and flow-through units.

Private Placement

The Company announces the closing of a second tranche of a private placement comprising 1,100,000 flow-through units ("FT Units") at $0.105 per FT Unit and 982,000 units ("Units") at $0.085 per Unit, for aggregate gross proceeds of $198,470.

Each FT Unit consists of one (1) common share of the Company (each, a "Common Share") to be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) (each, an "FT Share") and one (1) common share purchase warrant. Each warrant entitles the holder to purchase one Common Share (each, a "Warrant Share") at a price of $0.17 for a period of 12 months from the date of issuance.

Each Unit consists of one (1) common share of the Company (each, a "Common Share") and one (1) common share purchase warrant. Each warrant entitles the holder to purchase one Common Share (each, a "Warrant Share") at a price of $0.12 for a period of 24 months from the date of issuance.

The gross proceeds from the sale of the FT Units will be used by the Company to incur eligible "Canadian exploration expenses" on the Golden Island project that qualify as "flow-through mining expenditures," as such terms are defined in the Income Tax Act (Canada) (the "Eligible Expenditures"), in connection with the Company's projects in Quebec, Canada. All eligible expenditures will be renounced in favor of the subscribers of the FT Units, effective December 31, 2026.

Jonathan Hamel, President, CEO and Director of the Company (the "Insider") purchased directly 800,000 Flow-Through Units for aggregate consideration of $84,000. The participation of the Insiders in the Offering constitutes a related party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") but is exempt from the formal valuation and minority approval requirements pursuant to Sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value of the securities issued to, nor the consideration paid by, the insiders exceeded 25% of the Company's market capitalization. The Company did not file a material change report with respect to the participation of the Insider at least 21 days prior to the closing of the Private Placement as the insider participation was not determined at that time.

In connection with the offering, the Company paid a 6% cash finder's fee (totaling $1,890) and issued a total of 22,235 finder's warrants (the "Finder's Warrants") to two (2) arm's-length finders. Each Finder's Warrant is exercisable to acquire one additional common share at a price of $0.085 per warrant for a period of 24 months from the date of issuance.

All securities issued in connection with the offering will be subject to a hold period of four (4) months and one day, ending on February 2, 2027.

The offering is subject to final approval by the Canadian Securities Exchange (CSE).

About Mosaic Minerals Corporation

Mosaic Minerals Corp. is a Canadian mining exploration company listed on the Canadian Securities Exchange (CSE: MOC). The Company is developing the Golden Island (Au), Amanda (Au) and Gaboury (Ni) projects located in Abitibi and James Bay (Quebec).

This release contains certain "forward-looking information" under applicable Canadian securities laws concerning the Arrangement. Forward-looking information reflects the Company's current internal expectations or beliefs and is based on information currently available to the Company. In some cases, forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate", "projects", "potential", "scheduled", "forecast", "budget" or the negative of those terms or other comparable terminology. Assumptions upon which such forward-looking information is based includes, among others, that the conditions to closing of the Arrangement will be satisfied and that the Arrangement will be completed on the terms set out in the definitive agreement. Many of these assumptions are based on factors and events that are not within the control of the Company, and there is no assurance they will prove to be correct or accurate. Risk factors that could cause actual results to differ materially from those predicted herein include, without limitation: that the remaining conditions to the Arrangement will not be satisfied; that the business prospects and opportunities of the Company will not proceed as anticipated; changes in the global prices for gold or certain other commodities (such as diesel, aluminum and electricity); changes in U.S. dollar and other currency exchange rates, interest rates or gold lease rates; risks arising from holding derivative instruments; the level of liquidity and capital resources; access to capital markets, financing and interest rates; mining tax regimes; ability to successfully integrate acquired assets; legislative, political or economic developments in the jurisdictions in which the Company carries on business; operating or technical difficulties in connection with mining or development activities; laws and regulations governing the protection of the environment; employee relations; availability and increasing costs associated with mining inputs and labour; the speculative nature of exploration and development; contests over title to properties, particularly title to undeveloped properties; and the risks involved in the exploration, development and mining business. Risks and unknowns inherent in all projects include the inaccuracy of estimated reserves and resources, metallurgical recoveries, capital and operating costs of such projects, and the future prices for the relevant minerals. The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.

NOT FOR DISTRIBUTION IN THE UNITED STATES OR ANY US NEWS WIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE TITLES DESCRIBED HEREIN.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/318181

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