Twenty Mile Metals Inc. (TSXV: MILE) announced plans to complete a non-brokered private placement of up to 25,000,000 common shares at $0.08 per share, seeking aggregate gross proceeds of up to $2,000,000.

The Vancouver-based mineral exploration company said it intends to use net proceeds from the offering for general exploration activities and general corporate purposes.

Shares issued under the offering will be subject to a hold period of four months and one day from closing, in accordance with applicable securities laws and TSX Venture Exchange policies. The company may also pay finders' fees in connection with the offering.

Completion of the offering remains subject to conditions including receipt of all necessary regulatory approvals and acceptance by the TSXV.