Vancouver, British Columbia — January 14, 2026
Karus Mining Inc. is pleased to announce it has entered into an agreement with Stifel Nicolaus Canada Inc. for a brokered private placement of 7,060,000 units at C$0.85 per unit, for gross proceeds of up to C$6,001,000.
Financing Structure
Each unit comprises one common share and one-half of one common share purchase warrant, with each whole warrant exercisable at C$1.15 per share for 24 months following closing. The agent has been granted an option to purchase an additional 15% of the units, for approximately C$900,000.
Use of Proceeds
Net proceeds will support exploration on the South Cariboo and Mineral Creek projects in British Columbia, plus general working capital. Closing is expected on or about January 28, 2026, subject to regulatory approvals. The securities carry a four-month hold period under applicable Canadian securities laws and are offered under prospectus exemptions.
About Karus Mining
Karus is the 100% owner of the ~995 km² South Cariboo Gold District, which includes the drill-stage FG Gold and Gold Creek projects in British Columbia, and also controls the Mineral Creek gold exploration project, centred approximately 10 kilometres from Port Alberni on Vancouver Island. Karus is the result of the merger of Karus and Theia Gold Corp — Theia having been founded by a number of mining and finance professionals, and Karus having been originally financed by Yamana Gold, whose former executives founded Theia and were instrumental in the merger.
For more information, contact Investor Relations at info@karusmining.ca.
Forward-looking statements. This release contains forward-looking information within the meaning of applicable Canadian securities laws. Actual results may differ materially. Readers should not place undue reliance on forward-looking statements, which speak only as of the date of the release.