Irruptive Metals Corp. News Releases

Irruptive Metals Announces Closing of C$60 Million "Bought Deal" Private Placement

Thu, 10 Sep 2026 09:23:00 -0400

Toronto, Ontario--(Newsfile Corp. - September 10, 2026) - Irruptive Metals Corp. (TSXV: IRR) (the "Company" or "Irruptive Metals") is pleased to announce that it has closed its previously-announced "bought deal" brokered private placement offering (the "Offering") for aggregate gross proceeds of C$60 million, including the exercise in full of the option granted to the Underwriters (as defined herein). In connection with the Offering, the Company issued an aggregate of 48 million units of the Company (the "Units") at a price of C$1.25 per Unit (the "Offering Price").

Each Unit is comprised of one common share of the Company (each, a "Common Share") and one-half of one Common Share purchase warrant of the Company (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to acquire one Common Share (each, a "Warrant Share") at a price of C$1.65 per Warrant Share for a period of 24 months following the closing date of the Offering.

"The closing of this $60 million financing represents a significant vote of confidence in Irruptive Metals and the substantial copper-gold potential of our Pimentón Project," said Alfredo Bazo, President and CEO of Irruptive Metals. "With our recent drill results demonstrating geological continuity and strong mineralization at the Central target, we are now well-funded to accelerate our exploration program. These proceeds will enable us to advance Pimentón toward resource definition and unlock the full value of this high-quality asset in one of the world's most prolific porphyry copper-gold belts. We are thrilled to have the funding and investor confidence to execute on our exploration strategy!"

The Offering was led by Canaccord Genuity Corp. as sole bookrunner and lead underwriter, together with Haywood Securities Inc. and Velocity Trade Capital Ltd. (collectively, the "Underwriters"). In consideration for their services, the Underwriters were paid a cash fee equal to C$3,510,000. The Company also issued an aggregate of 2,880,000 non-transferable broker warrants (the "Broker Warrants") to the Underwriters. Each Broker Warrant is exercisable to acquire one Common Share at the Offering Price for a period of 24 months from the closing date of the Offering.

The net proceeds received from the Offering will be used to advance the Company's Pimentón Project, as well as for working capital and general corporate purposes.

All securities issued under the Offering are subject to a hold period in Canada of four months and one day from the closing date of the Offering, expiring January 11, 2027. The Offering remains subject to final acceptance of the TSX Venture Exchange (the "Exchange").

Certain insiders of the Company (collectively, the "Participating Insiders") subscribed for an aggregate of 6,071,995 Units for aggregate gross proceeds of C$7,589,993.75, comprising (i) 181,995 Units (C$227,493.75) subscribed for by Alfredo Bazo, the Company's President, Chief Executive Officer and a director, (ii) 440,000 Units (C$550,000) subscribed for by [Thomas Bata], a 10% security holder of the Company, and (iii) 5,450,000 Units (C$6,812,500) subscribed for by Mercedes Juliana Benavides Ganoza de Vizquerra] a 10% security holder of the Company. The Participating Insiders are each considered an "insider" of the Company within the meaning of applicable securities legislation and, as a result, their participation in the Offering constitutes a "related party transaction" (each, an "Insider Subscription") for the purposes of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). In completing each Insider Subscription, the Company is relying on exemptions from the formal valuation and minority shareholder approval requirements available under MI 61-101. Specifically, the Company is exempt from the formal valuation requirement in Section 5.4 of MI 61-101 in reliance on Section 5.5(a) of MI 61-101 as the fair market value of the Insider Subscriptions is not more than 25% of the Company's market capitalization. Additionally, the Company is exempt from the minority shareholder approval requirement in Section 5.6 of MI 61-101 in reliance on Section 5.7(1)(a) of MI 61-101 as the fair market value of the Insider Subscriptions is not more than 25% of the Company's market capitalization.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

Issuance of RSUs

The Company also announces that it has granted an aggregate of 150,000 restricted share units of the Company (the "RSUs") to certain advisors and officers of the Company pursuant to the Company's omnibus incentive plan (the "Plan"). The RSUs will vest in equal thirds on the first, second and third anniversaries of the grant date, subject to the terms of the applicable award agreements, the Plan and the policies of the Exchange.

About Irruptive Metals Corp.

Irruptive Metals Corp. (TSXV: IRR) is a Canadian copper-gold exploration company focused on unlocking value from high-quality mineral projects in Chile. The Company's flagship Pimentón Project is strategically located within one of the world's most prolific porphyry copper-gold belts and has been the subject of extensive historical exploration by major mining companies, underscoring its significant discovery potential.

For further information, contact:

Alfredo Bazo
President, Chief Executive Officer and Director

Telephone: 416-800-1066
Email: info@irruptivemetals.com
Website: https://irruptivemetals.com/

100 King Street, Suite 3400, Toronto, ON, Canada, M5X 1A4

Cautionary Statement on Forward-Looking Information

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends", "expects" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this news release contains forward-looking information pertaining to, among other things: the intended use of the net proceeds of the Offering; the ability to receive final acceptance of the TSXV; the ability of the Company to advance the Pimentón Project; and the ability of the Company to unlock the potential of its assets and create value for its shareholders.

Forward-looking statements are inherently uncertain, and the actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company, including expectations and assumptions concerning the Company and the Pimentón Project. Readers are cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. Readers are further cautioned not to place undue reliance on any forward-looking statements, as such information, although considered reasonable by the management of the Company at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Additional information, including risks facing the Company, is outlined in the Company's Filing Statement dated July 20, 2026, which is available on SEDAR+ (www.sedarplus.ca) under the Company's issuer profile.

The forward-looking statements contained in this news release are made as of the date of this news release and are expressly qualified by the foregoing cautionary statement. Except as expressly required by securities law, the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/313774

Irruptive Metals Announces Upsize of "Bought Deal" Private Placement to $50 Million

Fri, 21 Aug 2026 09:47:00 -0400

Toronto, Ontario--(Newsfile Corp. - August 21, 2026) - Irruptive Metals Corp. (TSXV: IRR) ("Irruptive Metals" or the "Company") is pleased to announce that, as a result of strong investor demand, the Company has amended its agreement with Canaccord Genuity Corp. on behalf of a syndicate of underwriters (collectively, the "Underwriters"), to increase the size of its previous announced "bought deal" private placement to 40,000,000 units of the Company (each, a "Unit") at a price of $1.25 per Unit (the "Offering Price") for aggregate gross proceeds of $50,000,000 (the "Offering").

Each Unit will consist of one common share of the Company (each, a "Unit Share") and one-half of one common share purchase warrant of the Company (each whole common share purchase warrant, a "Warrant"). Each Warrant will entitle the holder to acquire one common share of the Company for 24 months from the closing of the Offering at a price of $1.65.

The Company has also granted the Underwriters an option to purchase up to an additional 8,000,000 Units at the Offering Price for additional gross proceeds of up to $10,000,000 exercisable at any time up to 48 hours prior to the closing of the Offering (the "Underwriters' Option").

The net proceeds received from the Offering will be used to advance the Company's Pimentón Project, as well as for working capital and general corporate purposes.

It is anticipated that closing of the Offering will occur on or about September 10, 2026, or such other date or dates as the Corporation and the Underwriters may agree. The Offering is subject to the satisfaction of certain conditions, including receipt of all applicable regulatory approvals including the approval of the TSX Venture Exchange. The securities sold under the Offering will have a hold period in Canada of four months and one day from the closing date in accordance with applicable securities laws.

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 have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

About Irruptive Metals Corp.

For further information, contact:

Alfredo Bazo
President, Chief Executive Officer and Director

Telephone: 416-800-1066
Email: info@irruptivemetals.com
Website: https://irruptivemetals.com/

100 King Street, Suite 3400, Toronto, ON, Canada, M5X 1A4

Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends", "expects" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this news release contains forward-looking statements that include, but are not limited to, statements regarding the terms, conditions and anticipated timing and closing of the Offering, the intended use of the net proceeds of the Offering, the receipt of all necessary approvals, including conditional approval of the TSXV in connection with the Offering.

Forward-looking statements are inherently uncertain, and the actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company, including expectations and assumptions concerning the Company and the Pimentón Project. Readers are cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. Readers are further cautioned not to place undue reliance on any forward-looking statements, as such information, although considered reasonable by the management of the Company at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Additional information, including risks facing the Company, are outlined in the Company's Filing Statement dated July 20, 2026, which is available on SEDAR+ (www.sedarplus.ca) under the Company's issuer profile.

/ Not for Distribution to U.S. News Wire Services or Dissemination in the United States /

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/310765

Irruptive Metals Announces $30 Million "Bought Deal" Private Placement

Thu, 20 Aug 2026 16:43:00 -0400

Toronto, Ontario--(Newsfile Corp. - August 20, 2026) - Irruptive Metals Corp. (TSXV: IRR) ("Irruptive Metals" or the "Company") is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. on behalf of a syndicate of underwriters (collectively, the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a "bought deal" private placement basis, 24,000,000 units of the Company (each, a "Unit") at a price of $1.25 per Unit (the "Offering Price") for gross proceeds of $30,000,000 (the "Underwritten Offering").

The Company has also granted the Underwriters an option to purchase up to an additional 3,600,000 Units at the Offering Price for additional gross proceeds of up to $4,500,000 exercisable at any time up to 48 hours prior to the closing of the Offering (the "Underwriters' Option").

The net proceeds received from the Offering will be used to advance the Company's Pimentón Project, as well as for working capital and general corporate purposes.

About Irruptive Metals Corp.

For further information, contact:

Alfredo Bazo
President, Chief Executive Officer and Director

Telephone: 416-800-1066
Email: info@irruptivemetals.com
Website: https://irruptivemetals.com/

100 King Street, Suite 3400, Toronto, ON, Canada, M5X 1A4

Forward-Looking Statements

Forward-looking statements are inherently uncertain, and the actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company, including expectations and assumptions concerning the Company and the Pimentón Project. Readers are cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. Readers are further cautioned not to place undue reliance on any forward-looking statements, as such information, although considered reasonable by the management of the Company at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Additional information, including risks facing the Company, are outlined in the Company's Filing Statement dated July 20, 2026, which is available on SEDAR+ (www.sedarplus.ca) under the Company's issuer profile.

/ Not for Distribution to U.S. News Wire Services or Dissemination in the United States /

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/310665

Irruptive Metals announces 795.2 m grading 0.66% CuEq

Thu, 20 Aug 2026 07:00:00 -0400

Complete results from first drillholes campaign with significant
Copper-Gold Mineralization at Pimentón Project

2026 Diamond Drilling Program Confirms and Extends Historical
Copper-Gold Mineralization; Drilling Completed 3,084 m Across Four Holes.

Toronto, Ontario--(Newsfile Corp. - August 20, 2026) - Irruptive Metals Corp. (TSXV: IRR) ("Irruptive Metals" or the "Company"), an emerging copper-gold exploration company advancing the high-potential Pimentón Project located in the V Region, Central Chile, is pleased to announce the completion of its first diamond drill campaign, totalling 3,084 metres across four drillholes (IMP001 to IMP004), designed to test the central Cu-Au porphyry system within the Company's flagship project. All assay results have now been received, validated, and incorporated into the geological model.

Drill Program Highlights

IMP002 returned 795.2 m with 0.66% CuEq (0.41 g/t Au, 0.31% Cu) from 167 m to end of hole at 962.2 m, including a gold-dominant high-grade interval of 60 m grading 1.49% CuEq (1.37 g/t Au, 0.31% Cu)
IMP001 returned two significant intervals: 202 m with 0.38% CuEq (0.22 g/t Au, 0.19% Cu) from 177 m to 379 m, and 358.4 m with 0.49% CuEq (0.29 g/t Au, 0.24% Cu) from 513 m to 871.4 m (EOH)
IMP003 returned 42 m with 0.25% CuEq (0.12 g/t Au, 0.15% Cu) from 171 m to 213 m and 176 m with 0.31% CuEq (0.15 g/t Au, 0.18% Cu) from 227 m to 403 m
IMP004 returned 406 m with 0.47% CuEq (0.26 g/t Au, 0.25% Cu) from 259 m to 665 m.
Results confirm and extend historical drilling by Rio Tinto and Anglo American, demonstrating geological continuity across the Central target area
Drill program completed 3,084 m of drilling across four holes from two platforms, with operations concluded on April 17, 2026

"These results from our 2026 drilling program are highly encouraging and confirm the significant copper-gold potential at Pimentón," said Alfredo Bazo, President and CEO of Irruptive Metals. "The consistency of our results with historical drilling by Rio Tinto and Anglo American validates our geological model. We are particularly pleased with the 795-metre intercept in IMP002, which demonstrates both the scale and grade potential of the Central target. We look forward to advancing the project toward resource definition as we prepare for our next drilling campaign, as the mineralization remains open."

Program Overview and Results

The 2026 diamond drilling program was designed to twin or near-twin historical drillholes completed by Rio Tinto and Anglo American, with the objective of confirming historical geological and grade information and testing lateral and vertical extensions of known mineralization. The historical datasets were reviewed by Román Flores, P.Geo., author of the Company's NI 43-101 Technical Report on the Pimentón Project (effective July 20, 2026). Mr. Flores is independent of Irruptive Metals for the purposes of Section 1.5 of National Instrument 43-101 and is a Qualified Person under NI 43-101.

Results obtained to date are consistent with the historical datasets and support the reliability of the original drilling. No mineral resource or mineral reserve has been estimated on the Pimentón Project, and the mineralization described in this news release is not necessarily indicative of the presence of a mineral resource or mineral reserve.

Using the same drill platforms as holes IMP001 and IMP002, IRR completed two additional holes (IMP003 and IMP004) oriented to the south (azimuth 180°, dip -70°) to evaluate the potential southward extension of the mineralized system. Hole IMP004 successfully intersected the targeted Cu-Au porphyry mineralization, including vein styles, sulfide assemblages and alteration consistent with the mineralized center defined in IMP001 and IMP002. These results provide additional evidence that the porphyry system remains open to the southeast, east and northeast supporting continued step-out drilling in that direction.

Mineralization is associated with a complex of Cu-Au porphyry dykes exhibiting potassic alteration (K-feldspar, biotite), EB-type and A-type veins. Higher-grade zones correspond to early mineral porphyry phases overprinted by green-sericite-chalcopyrite assemblages. Some High-sulfidation Au-Ag-Cu vein systems appear telescoped over porphyry and also located peripheral to the center.

The geological interpretation, based on the integration of new drillholes and historical datasets, identifies a Cu-Au porphyry dyke complex with an NNE orientation and near-vertical dip. This Cu-Au porphyry corridor is currently 600 metres long, 300 metres wide and is open to the E, SE, NE and W, representing the principal conduit for mineralization within the Central Target. The geometry and orientation of these dykes provide a coherent framework that explains the distribution of potassic-centred mineralization, the green sericite high-grade transitional halo, and peripheral alteration zones observed across both historical and recent drilling.

Outlook and Next Steps

Reprocessing of historical geophysics (Magnetometry, IP-Res & MT) to improve and prioritize targets, Q3-2026
Conduct geometallurgical sampling and mineralogical/metallurgical test work
Resampling historical holes in central target (PP18 & PP04) to include in updated NI 43-101 Technical Report with initial inferred resource estimate, Q1-2027
Advance drilling to test lateral and deep extensions of the Central target to expand the initial resources, Q4 2026 to Q1 2027
Obtain the environmental permits (DIA) to drill the Ridge-Bx, SE, Verde and Maria Elena targets to consolidate the Pimentón project as a high-potential Cu-Au resource, Q1 2028

Table 1: Summary of Significant Drill Intercepts

Drill Results Summary	From	To	Length (m)	Au g/t	Cu %	CuEq %
Hole	From	To	Length (m)	Au g/t	Cu %	CuEq %
IMP001	177	379	202	0.22	0.19	0.38
IMP001	513	871.4	358.4	0.29	0.24	0.49
IMP002	167	962.2	795.2	0.41	0.31	0.66
High grade zone	181	317	136	0.44	0.43	0.81
High grade zone	327	387	60	1.37	0.31	1.49
IMP003	171	213	42	0.12	0.15	0.25
IMP003	227	403	176	0.15	0.18	0.31
IMP004	259	665	406	0.26	0.25	0.47

Notes: Intervals are reported using a cut-off of CuEq >0.2% with three dilution samples (6 m) and no top-cut applied. CuEq = Cu% + (Au g/t × 0.86). Metal prices used are the two-year average (2024-2025): US$4.95/lb Cu and US$2,918/oz Au. Recoveries were assumed equal for all metals. CuEq is used for comparison purposes only. No metallurgical recovery testwork has been completed on the Project; equal recoveries have been assumed for all metals for illustrative purposes only, so the reported CuEq values may not be representative of recoverable or economically recoverable metal.

Reconciliation with Technical Report: These results are final and, where they differ, update the preliminary intercepts disclosed in the NI 43-101 Technical Report (July 20, 2026). Intervals in this release are composited using three dilution samples (6 m); the Technical Report used two dilution samples. Reported intervals are therefore not directly comparable to that report, and the 478 m at 0.80% CuEq interval shown for IMP002 in the Technical Report is not reproduced here.

True Widths: All reported intervals are downhole core lengths. True widths have not yet been determined and are expected to be less than the reported downhole lengths.

Table 2: Drillhole Collar Locations

Hole ID	Easting (m)	Northing (m)	Elevation (m)	Azimuth (°)	Dip (°)	EOH depth (m)
IMP001	385571	6406345	3627	60	−70	871.4
IMP002	385670	6406472	3629	60	−70	962.2
IMP003	385573	6406346	3627	180	-70	503
IMP004	385666	6406471	3629	180	-70	747.3
Note: Coordinates are in WGS84 Zone 19S.

Figure 1: Plan view showing location of Irruptive Metals' and historical drillholes, CuEq grade shell interpretation at 3200m of elevation in Central target, and key outcrops (Cu-Au porphyry and tourmaline breccia) in Ridge-Bx and SE targets.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12566/310582_edd1fb429431c8a5_001full.jpg

Figure 2: Irruptive Metals' geological interpretation of Cu-Au porphyry dykes complex and significant intercepts in holes IMP001 and IMP002.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12566/310582_edd1fb429431c8a5_002full.jpg

Sampling and QA/QC

Drill core was logged, sampled, and cut under the supervision of Company geologists. Samples were prepared and analyzed by AGS-Cotecna laboratory, which is independent of the Company and an ISO/IEC 17025-accredited laboratory. Gold assays were completed using fire assay with AAS finish. Multi-element determination was completed by four-acid digestion (HF-HNO₃-HClO₄-HCl) followed by ICP-OES analysis. The Company maintains a rigorous QA/QC program including the insertion of certified reference materials (5%), blanks (2.5%), and field duplicates (2.5%) at regular intervals. No material QA/QC issues were identified in the reviewed data. The Qualified Person has verified the data underlying the technical information disclosed in this news release, including by reviewing the assay results, the QA/QC data and the sampling and analytical procedures, and is not aware of any drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the data.

Qualified Person

The scientific and technical information in this news release has been reviewed and approved by Claudio Burgoa, P.Geo., Chief Geologist of Irruptive Metals, a qualified person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects and Qualified Person #535, Comisión Minera de Chile.

About Irruptive Metals Corp.

For further information, contact:

Alfredo Bazo

President, Chief Executive Officer and Director
Email: info@irruptivemetals.com
Website: https://irruptivemetals.com/

100 King Street, Suite 3400, Toronto, ON, Canada, M5X 1A4

Forward-Looking Statements

More particularly and without limitation, this news release contains forward-looking statements that include, but are not limited to, statements regarding the Company's drill program results, exploration targets, geological interpretations, future resource evaluation work, and the potential advancement of the Pimentón Project.

Additional information, including risks facing the Company, are outlined in the Company's Filing Statement dated July 20, 2026, which is available on SEDAR+ (www.sedarplus.ca) under the Company's issuer profile. The forward-looking statements contained in this news release are made as of the date of this news release and are expressly qualified by the foregoing cautionary statement. Except as expressly required by securities law, the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/310582

Irruptive Metals Receives Environmental Clearance for Deep Porphyry Drilling at Pimentón Project

Thu, 06 Aug 2026 17:00:00 -0400

Significant Milestone Enables Irruptive Metals to Accelerate Exploration Program

Toronto, Ontario--(Newsfile Corp. - August 6, 2026) - Irruptive Metals Corp. (TSXV: IRR) ("Irruptive Metals" or the "Company"), an emerging copper-gold exploration company advancing the high-potential Pimentón Project in Chile, is pleased to announce that Irruptive Metals has received regulatory clearance to enable the Company to advance its exploration program on an accelerated timeline at the Pimentón Project.

Specifically, Chile's Environmental Assessment Service (Servicio de Evaluación Ambiental) (the "SEA") has confirmed that the Company's "Deep Porphyry Confirmation Drilling - Pimentón" program (ID PERTI-2026-6338) is exempt from submission to Chile's Environmental Impact Assessment System (the "SEIA").

The SEA's decision, issued in response to a Pertinence Letter (carta de pertinencia) submitted by Minera Tamidak Limitada, the Company's joint venture partner at Pimentón, confirms that no prior environmental assessment is required for the planned drilling activities. This regulatory clearance represents a significant milestone for Irruptive Metals.

"Securing environmental clearance for our deep porphyry drilling program marks an important step forward for Irruptive Metals," said Alfredo Bazo, President and CEO of Irruptive Metals. "This approval allows us to move quickly to test the significant copper-gold potential we see at the Central target. We look forward to commencing drilling and sharing results as we advance the Pimentón Project toward resource definition."

Advancing Exploration at the Pimentón Central Target

The drilling program will target the Central zone of the Pimentón copper-gold porphyry cluster, where previous exploration has identified compelling mineralization potential. Diamond drilling will focus on confirming geological continuity at depth and expanding the known mineralized footprint laterally, providing critical data to support future resource definition work.

This drilling campaign forms a key component of Irruptive Metals' district-scale exploration strategy, which is designed to unlock the full copper-gold potential of the Pimentón property and advance the project toward resource delineation.

With environmental clearance now secured, Irruptive Metals is proceeding with operational planning for the drilling campaign and expects to provide further updates as the program advances. The Company remains committed to conducting all exploration activities in accordance with best practices in safety, environmental stewardship, and community engagement.

Qualified Person

The scientific and technical information in this news release has been reviewed and approved by Claudio Burgoa, P.Geo, Chief Geologist of Irruptive Metals, a qualified person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects and Qualified Person #535, Comisión Minera de Chile.

About Irruptive Metals Corp.

For further information, contact:

Alfredo Bazo
President, Chief Executive Officer and Director

Email: info@irruptivemetals.com
Website: https://irruptivemetals.com/

100 King Street, Suite 3400, Toronto, ON, Canada, M5X 1A4

Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends", "expects" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this news release contains forward-looking statements that include, but are not limited to, statements regarding the Company's planned drill program, exploration targets, geological interpretations, future resource evaluation work, and the potential advancement of the Pimentón Project.

Forward-looking statements are inherently uncertain, and the actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company, including expectations and assumptions concerning the Company and the Pimentón Project. Readers are cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. Readers are further cautioned not to place undue reliance on any forward-looking statements, as such information, although considered reasonable by the management of the Company at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Additional information, including risks facing the Company, are outlined in the Company's Filing Statement dated July 20, 2026, which is available on SEDAR+ (www.sedarplus.ca) under the Company's issuer profile.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/308438

Irruptive Metals Corp. Announces Completion of Go-Public Transaction

Wed, 22 Jul 2026 19:35:00 -0400

Toronto, Ontario--(Newsfile Corp. - July 22, 2026) - Irruptive Metals Corp. (formerly, 1287398 B.C. Ltd.) (the "Company") is pleased to announce the completion of its previously announced go-public transaction involving Irruptive Metals Inc. ("Irruptive") and 1001591052 Ontario Inc. ("Subco"), a wholly-owned subsidiary of the Company (the "Transaction"). Trading in the Resulting Issuer Shares (as defined below) is expected to commence on the TSX Venture Exchange (the "TSXV") on or about July 27, 2026, under the ticker symbol "IRR", subject to the issuance by the TSXV of its final bulletin in respect of the Transaction.

The Transaction

The Transaction was completed by way of a three-cornered amalgamation (the "Amalgamation") under the Business Corporations Act (Ontario) among the Company, Irruptive and Subco. Pursuant to the Amalgamation, Irruptive and Subco amalgamated to form a newly amalgamated entity named "Irruptive Metals Inc." ("Amalco"), and the Company acquired all of the issued and outstanding securities of Amalco, with the former holders of common shares of Irruptive (each, an "Irruptive Share") and the former holders of Class A common shares of Subco (each, a "Class A Subco Share") each receiving one Resulting Issuer Share for each one Irruptive Share or Class A Subco Share, as applicable, held immediately prior to the effective time of the Amalgamation. In connection with the completion of the Transaction, all outstanding stock options of Irruptive were replaced with equivalent stock options of the Resulting Issuer (the "Resulting Issuer Options") and all outstanding deferred share units of Irruptive were replaced with equivalent deferred share units of the Resulting Issuer (the "Resulting Issuer DSUs"), in each case entitling the holders thereof to acquire or receive Resulting Issuer Shares in lieu of Irruptive Shares.

The Company, as the issuer resulting from the Transaction (the "Resulting Issuer") is expected to carry on the business of Irruptive, being the mineral exploration and development of the Pimentón Project in Chile (the "Pimentón Project").

In connection with the Transaction, the Company issued an aggregate of 112,979,005 Resulting Issuer Shares, comprised of: (i) 105,772,857 Resulting Issuer Shares issued to former holders of Irruptive Shares (excluding Resulting Issuer Shares issued on conversion of Irruptive Subscription Receipts (as defined below)); (ii) 5,871,432 Resulting Issuer Shares issued to former holders of Irruptive Subscription Receipts; and (iii) 1,334,716 Resulting Issuer Shares issued to former holders of Class A Subco Shares, which were issued upon exchange of the Subco Subscription Receipts (as defined below), such that the Transaction resulted in the reverse takeover of the Company by the shareholders of Irruptive. After giving effect to the Transaction, the Consolidation (as defined below), the Subscription Receipt Financing (as defined below) and the Concurrent Financing (as defined below), there are an aggregate of 114,592,362 Resulting Issuer Shares issued and outstanding (on a non-diluted basis). In addition, there are 2,400,000 Resulting Issuer Options and 242,856 Resulting Issuer DSUs outstanding. All Resulting Issuer Shares issued in connection with the closing of the Transaction were issued at a deemed issue price of $0.70 per Resulting Issuer Share (being the offering price of each of the Subscription Receipt Financing and the Concurrent Financing).

For further information regarding the Transaction, please see the filing statement of the Company dated July 20, 2026 (the "Filing Statement"), prepared in accordance with the requirements of the TSXV, as well as the technical report in respect of the Pimentón Project with an effective date of March 31, 2026, copies of which are available on SEDAR+ (www.sedarplus.ca) under the Company's issuer profile.

Alfredo Bazo, President and Chief Executive Officer of the Company, commented: "The completion of this transaction marks an exciting milestone for Irruptive Metals as we begin trading on the TSX Venture Exchange. With the Pimentón Project's significant copper and gold potential in Chile's prolific Andes Mountains, we believe we are well-positioned to create value for our shareholders. I would like to thank our stakeholders, advisors and supporters for their dedication and commitment throughout the formation and go-public process. We look forward to advancing our exploration and development activities and keeping the market informed of our progress."

Name Change and Consolidation

Prior to the completion of the Transaction, on July 22, 2026, the Company effected (i) a consolidation (the "Consolidation") of its issued and outstanding common shares (the "Common Shares") on the basis of one (1) post-Consolidation Common Share for every 3.616668 pre-Consolidation Common Shares, and (ii) a change of the Company's corporate name from "1287398 B.C. Ltd." to "Irruptive Metals Corp." (the "Name Change"). For the purposes of this news release, "Resulting Issuer Shares" means the Common Shares in the authorized share structure of the Company after giving effect to the Consolidation and Name Change.

Directors and Executive Officers

Following the completion of the Transaction, the directors and officers of the Resulting Issuer are as follows:

Name		Title
Alfredo Bazo		Chief Executive Officer, President and Director
Judson Culter		Chief Financial Officer and Corporate Secretary
Claudio Burgoa		Chief Geologist
Robert Oehninger		Country Manager, Chile
Ignacio Agramunt		Director
Ramon Araneda		Director and Non-Executive Chairman
Drew Clark		Director
Nadine Miller		Director

Please refer to the Filing Statement for additional information on, and the biographies of, each of the foregoing individuals.

Escrow and Other Corporate Updates

In connection with the Transaction, an aggregate of 36,175,000 Resulting Issuer Shares, 1,100,000 Resulting Issuer Options and 60,714 Resulting Issuer DSUs were deposited in escrow in accordance with the policies of the TSXV, in addition to 59,194,053 Resulting Issuer Shares and 1,000,000 Resulting Issuer Options subject to SSRRs (as defined under the policies of the TSXV). Please refer to the Filing Statement for additional information on the escrowed and restricted securities.

Additionally, in connection with the Transaction, PKF Antares has been appointed as the auditor of the Company, and the Company adopted a new 10% rolling omnibus incentive plan. The new CUSIP number for the Resulting Issuer Shares is 46358T107. The transfer agent of the Company continues to be TSX Trust Company.

Subscription Receipt Financing

On February 23, 2026, Irruptive completed a private placement of an aggregate of 5,871,432 subscription receipts of Irruptive (the "Irruptive Subscription Receipts") at a price of $0.70 per Irruptive Subscription Receipt for aggregate gross proceeds to Irruptive of approximately $4,110,002 (the "Subscription Receipt Financing").

Upon satisfaction of certain escrow release conditions, each Irruptive Subscription Receipt automatically converted, without payment of additional consideration or further action by the holders thereof, into one Irruptive Share. Pursuant to the Transaction, each such Irruptive Share was immediately exchanged for one Resulting Issuer Share for no additional consideration and without any further action by the holders thereof.

Concurrent Financing

On July 17, 2026, Subco completed a private placement of an aggregate of 1,334,716 subscription receipts of Subco (the "Subco Subscription Receipts") at a price of $0.70 per Subco Subscription Receipt for aggregate gross proceeds of $934,301 (the "Concurrent Financing").

The Subco Subscription Receipts were created and issued pursuant to the terms of a subscription receipt agreement between Subco and TSX Trust Company, as subscription receipt agent. In connection with the closing of the Transaction and upon the satisfaction of certain escrow release conditions, each Subco Subscription Receipt automatically converted, without payment of additional consideration or further action by the holders thereof, into one Class A Subco Share. Pursuant to the Transaction, each such Class A Subco Share was immediately exchanged for one Resulting Issuer Share for no additional consideration and without any further action by the holders thereof.

No finder's fees or commissions were payable in respect of the Subscription Receipt Financing or the Concurrent Financing.

Early Warning Disclosure - Mercedes Juliana Benavides Ganoza de Vizquerra

Following the Transaction, Mercedes Juliana Benavides Ganoza de Vizquerra has beneficial ownership of, or control or direction over, an aggregate 24,985,714 Resulting Issuer Shares, representing approximately 21.8% of the issued and outstanding Resulting Issuer Shares on a non-diluted basis. Prior to the completion of the Transaction, Ms. Benavides Ganoza de Vizquerra did not hold any securities of the Company (formerly, 1287398 B.C. Ltd.).

Ms. Benavides Ganoza de Vizquerra acquired the Resulting Issuer Shares for investment purposes and will continue to monitor the business, prospects, financial condition and potential capital requirements of the Company. Depending on her evaluation of these and other factors, Ms. Benavides Ganoza de Vizquerra may from time to time in the future decrease or increase her direct or indirect ownership, control or direction over securities of the Company through market transactions, private agreements, subscriptions from treasury or otherwise, or may in the future develop plans or intentions relating to any of the other actions listed in (a) through (k) of Form 62-103F1 - Required Disclosure Under the Early Warning Requirements ("Form 62-103F1").

The Resulting Issuer Shares beneficially owned or controlled by Ms. Benavides Ganoza de Vizquerra are subject to escrow pursuant to the policies of the TSXV and an escrow agreement among the Resulting Issuer, TSX Trust Company, and certain other securityholders of the Resulting Issuer. Please refer to the Filing Statement for additional information on the escrowed securities.

Ms. Benavides Ganoza de Vizquerra's business address is Av. Paseo de la República 5812, Piso 6, Miraflores, Lima 15074 Peru.

For the purposes of this news release and early warning disclosure, the pro forma number and percentage of outstanding Resulting Issuer Shares owned and controlled by Ms. Benavides Ganoza de Vizquerra following completion of the Transaction is based on 114,592,362 outstanding Resulting Issuer Shares following the completion of the Transaction.

This portion of this news release is being issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues ("NI 62-103"). An early warning report will be filed by Ms. Benavides Ganoza de Vizquerra on SEDAR+ (www.sedarplus.ca) under the Company's issuer profile. Persons who wish to obtain a copy of the early warning report to be filed by Ms. Benavides Ganoza de Vizquerra may obtain a copy of such report from SEDAR+ (www.sedarplus.ca) or by contacting Alfredo Bazo, President and CEO of the Company at (416) 800-1066 or info@irruptivemetals.com.

Early Warning Disclosure - Thomas Bata

Following the Transaction, Thomas Bata has beneficial ownership of, or control or direction over, directly or indirectly, an aggregate of 14,060,714 Resulting Issuer Shares, representing approximately 12.27% of the issued and outstanding Resulting Issuer Shares on a non-diluted basis. Prior to the completion of the Transaction, Mr. Bata did not hold any securities of the Company (formerly, 1287398 B.C. Ltd.).

Mr. Bata acquired the Resulting Issuer Shares for investment purposes and will continue to monitor the business, prospects, financial condition and potential capital requirements of the Company. Depending on his evaluation of these and other factors, Mr. Bata may from time to time in the future decrease or increase his direct or indirect ownership, control or direction over securities of the Company through market transactions, private agreements, subscriptions from treasury or otherwise, or may in the future develop plans or intentions relating to any of the other actions listed in (a) through (k) of Form 62-103F1.

A portion of the Resulting Issuer Shares beneficially owned or controlled by Mr. Bata are subject to contractual resale restrictions pursuant to the terms of a lock-up agreement between Mr. Bata and Irruptive Metals Inc., under which 11,025,000 Resulting Issuer Shares beneficially owned or controlled by Mr. Bata are subject to restrictions on transfer, with 25% of such Resulting Issuer Shares being released from such restrictions every six months following the date on which the Resulting Issuer Shares commence trading on the TSXV.

Mr. Bata's business address is 1 Westmount Square, Suite 1730, Westmount, Québec H3Z 2P9.

For the purposes of this news release and early warning disclosure, the pro forma number and percentage of outstanding Resulting Issuer Shares owned and controlled by Mr. Bata following completion of the Transaction is based on 114,592,362 outstanding Resulting Issuer Shares following the completion of the Transaction.

This portion of this news release is being issued pursuant to NI 62-103. An early warning report will be filed by Mr. Bata on SEDAR+ (www.sedarplus.ca) under the Company's issuer profile. Persons who wish to obtain a copy of the early warning report to be filed by Mr. Bata may obtain a copy of such report from SEDAR+ (www.sedarplus.ca) or by contacting Alfredo Bazo, President and CEO of the Company at (416) 800-1066 or info@irruptivemetals.com.

Advisors

Bennett Jones LLP is legal counsel to Irruptive. Haywood Securities Inc. is financial advisor to Irruptive.

About Irruptive Metals Corp.

Irruptive Metals Corp. is a mineral exploration company incorporated under the Business Corporations Act (British Columbia). The Company is headquartered in Vancouver, British Columbia, and is focused on the acquisition, exploration and development of high-potential copper and gold mineral properties located in Chile. The Company holds an option to acquire up to a 100% interest in certain mining claims, leases, concessions or other mining rights comprising the Pimentón Project pursuant to an earn-in agreement dated November 18, 2025, between Irruptive and Minera Tamidak Limitada.

About the Pimentón Project

The Pimentón Project is located in the prolific high Andes Mountains of Chile. The major property surrounds and includes the Pimentón Project at an elevation between 3,350 and 4,500 metres above sea level. It is located approximately 120 km NNE of the city of Santiago and 50 km northeast of the town of Los Andes, in the district of San Esteban, Province of Los Andes, Region V, Chile. Its central UTM coordinates are N 6,407,500 and E 386,000 (Datum PSAD-56, 19 South).

For Further Information Please Contact:

Alfredo Bazo
President, Chief Executive Officer and Director
Email: info@irruptivemetals.com
Website: https://irruptivemetals.com/
100 King Street, Suite 3400
Toronto, ON, Canada, M5X 1A4

Cautionary Note Regarding Forward-Looking Information

This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends", "expects" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this news release contains forward-looking statements concerning the timing of the trading of the Resulting Issuer Shares on the TSXV, the proposed business of the Resulting Issuer, the Pimentón Project, the Company's ability to obtain final TSXV approval of the Transaction, and the early warning disclosure described above.

Forward-looking statements are inherently uncertain, and the actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company, including expectations and assumptions concerning the Company and the Pimentón Project. Readers are cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. Readers are further cautioned not to place undue reliance on any forward-looking statements, as such information, although considered reasonable by the management of the Company at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Additional information, including risks relating to the Transaction as well as risks facing the Company, are outlined in the Filing Statement prepared in connection with the Transaction.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/306180