Vancouver, British Columbia — January 28, 2026
Karus Mining Inc. is pleased to announce that it has closed its private placement offering of 8,886,604 units at an offering price of $0.85 per Unit, for aggregate gross proceeds of $7,553,613.50, including partial exercise by Stifel Canada of its over-allotment option.
Each Unit is comprised of one common share in the capital of the Company and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one common share at an exercise price of $1.15 for a period of 24 months following the date of issue. Stifel Canada acted as sole agent and bookrunner in connection with the Offering.
The Company intends to use the net proceeds of the Offering to conduct exploration work on its South Cariboo and Mineral Creek projects in British Columbia, as well as for general working capital purposes.
As consideration for its services, Stifel Canada received a cash commission equal to 7% of the gross proceeds of the Offering, and broker warrants in an amount equal to 7% of the number of Units issued. Each broker warrant entitles Stifel Canada to purchase one common share at an exercise price of $0.85 for a period of 24 months from the date of issue.
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.