Metal Source Mining Announces $1.02 Million Private Placement with Eric Sprott and Provides Exploration Update

Vancouver, British Columbia--(Newsfile Corp. - December 24, 2025) - Metal Source Mining Inc. (OTCQB: SFRIF) (FSE: E9Z) (the "Company") is pleased to announce a non-brokered private placement financing of 3,400,000 units in the capital of the Company (each, a "Unit") at a price of $0.30 per Unit, for gross proceeds of $1,020,000 (the "Offering").Each Unit purchased will include one common share and one-half of one transferable common share purchase warrant. Each whole Warrant (a "Warrant") will entitle the holder to purchase one additional common share for a period of two (2) years at a price of $0.40 per common share.The sole placee in the Offering is Eric Sprott, through 2176423 Ontario Ltd., a corporation beneficially owned by him. He will acquire 3,400,000 Units pursuant to the Offering for total consideration of $1,020,000.The Company thanks Mr. Sprott for his continued support in Metal Source Mining.All securities issued in connection with the Offering will be subject to applicable statutory hold periods in accordance with Canadian securities laws. The Offering is expected to close on or before December 31, 2025, subject to receipt of all necessary regulatory approvals, including approval of the Canadian Securities Exchange.Exploration UpdateMetal Source Mining is also pleased to provide an update on its ongoing exploration programs.Drilling is currently underway at the Company's Silver Hill Project, with Hole 4 now completed. Several additional drill holes are planned as part of the current phase of exploration.The Company will provide further updates as drilling progresses and analytical results become available.About Metal Source Mining Inc.Metal Source Mining Inc. is a Canadian exploration company focused on the acquisition, exploration, and development of high-quality precious and base metal projects in mining-friendly jurisdictions.Forward-Looking StatementsThis news release contains certain forward-looking statements, including statements regarding the completion and timing of the private placement, the use of proceeds, planned exploration activities, anticipated drill programs, and future operational plans of the Company. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. These risks and uncertainties include, but are not limited to, the ability to obtain required regulatory approvals, changes in market conditions, exploration risks, and other risks disclosed in the Company's filings available on SEDAR+ at www.sedarplus.ca. The Company undertakes no obligation to update forward-looking statements except as required by applicable securities laws.On Behalf of the Board of DirectorsMetal Source Mining Inc.Contact: Joe Cullen: CEOPhone: 778-919-8615Email: jcullen@metalsourcemining.comwww.metalsourcemining.comNot for distribution to United States newswire services or for release publication, distribution or dissemination directly, or indirectly, in whole or in part, in or into the United States.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/279051