Yukon Metals upsizes private placement financing to $10 million

Yukon Metals Corp. [YMC-CSE, YMMCF-OTC, E770-FSE] said it is upsizing a previously announced private placement offering that is now expected to raise $10 million, up from the earlier $5 million target.

The company said the offering will consist of 18.18 million units priced at 55 cents per unit. Under the terms of the private placement, each unit will consist of one common share and one-half of one common share purchase warrant, each of which will entitle the holder to purchase one common share for 80 cents at any time before 5:00 p.m. on the date that is 36 months after closing, which is expected to occur on April 9, 2025.

The company has granted the co-agents an option to increase the size of the offering to raise additional gross proceeds of up to $1;5 million. That option is exercisable in whole or in part an any time prior to 48 hours before the closing date.

Net proceeds from the offering are earmarked for working capital and general corporate purposes.

Yukon Metals shares eased 3.4% or $0.02 to 57 cents on Friday and trade in a 52-week range of 99 cents and 37.2 cents.

Yukon Metals represents a property portfolio built on over 30 years of prospecting by the Berdahl family, the prospecting team behind Snowline Gold Corp.’s [SGD-CSE, SNWGF-OTCQB]  portfolio of primary gold assets. The Yukon Metals project portfolio provides exposure to copper, gold, silver, and critical metals.

In a press release on February 27, 2025, Yukon Metals announced details of its upcoming exploration program on the all-weather, road-accessible 720-hectare Star River Project, located near Ross River, Yukon. Highlights of the exploration plan include 4,000 metres of diamond drilling around the F2 zone targeting high-grade silver and gold surface samples aligned with a strong gravity and electromagnetic anomalies.

The program will also feature a geophysical gravity infill survey and rock-chip sampling program to refine multiple potential drill targets across the property. Also planned is a geophysical magnetic high-resolution UAV survey to outline previously identified surface lineaments that may delineate mineralized structures.

“Work at Star River in 2024 delivered superb drill targets, and we are excited to advance our understanding of the scale of the property’s mineral potential,’’ said Yukon Metals President and CEO Rory Quinn.  “With a strong correlation between geophysical anomalies and surface mineralization, the upcoming drill program is a critical next step to test these compelling targets,’’ he said. “Additionally, the UAV magnetic and gravity infill surveys will provide valuable structural and geological insights to further refine our exploration strategy.’’

The company said the primary focus of the drilling program will be on a high-priority target in the southern section of the property where a strong gravity anomaly extends for approximately 800 metres north-south. The previous season’s rock chip sampling returned multiple samples over 1,000 g/t silver and gold up to 101 g/t.