Tribeca Resources Announces Non-Brokered Private Placement of up to C$2M with Indications of Interest from Sophisticated Investors

JUNE 13, 2024 | VANCOUVER, BC

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWS WIRES

Tribeca Resources Announces Non-Brokered Private Placement of up to C$2M with Indications of Interest from Sophisticated Investors

Tribeca Resources Corporation (TSXV: TRBC) (OTCQB: TRRCF) (“Tribeca Resources”, the “Company”) is pleased to announce its intention to complete a non-brokered private placement pursuant to which it will issue up to 6,666,667 common shares ("Shares") at a price of C$0.30 per Share for aggregate gross proceeds of up to C$2,000,000 (the “Private Placement”).

The proceeds of the Private Placement will predominantly be used to fund:

• Pre-drilling activities and an initial 1,500 metre drill program at the Company’s Chiricuto project, which features a large geophysical anomaly that remains undrilled;
• Advancement of the Company's La Higuera project ahead of Phase 3 drilling; and
• Wider business development activities and for general corporate purposes.

The Company has received indications of interest from a small group of sophisticated European and North American investors, for a significant proportion of the Shares to be issued.

Tribeca Resources CEO, Dr Paul Gow commented:

“This additional capital, underpinned by indications of interest from three long-term shareholders and one new investor, will ensure we are well financed to advance and drill test the significant geophysical anomaly at the recently acquired Chiricuto project. The high calibre of investors we have attracted reflects the exciting exploration potential at the Chiricuto project and our team’s proven track-record at the La Higuera copper-gold project.”

In connection with the Private Placement, the Company will pay a finder's fee comprised of 6% in cash or Shares to eligible finders in accordance with applicable securities laws and the policies of the TSXV. Closing of the Private Placement is expected to occur on or about July 3, 2024 and is subject to customary closing conditions, including receipt of all regulatory approvals, including the approval of the TSXV.

All securities issued pursuant to the Private Placement, including the Shares issued in consideration for services rendered in connection with introducing the Company to investors, will be subject to a statutory hold period of four months and one day.

About Tribeca Resources

Tribeca Resources is a copper exploration company focused on discovering and developing assets in the Coastal IOCG Belt of northern Chile. The company’s management team, whose members are significant shareholders of the Company, has world-leading expertise and a discovery history with iron oxide copper-gold deposits in the world’s great IOCG Belts of the Carajás district in Brazil and the Gawler and Cloncurry provinces of Australia.

Tribeca Resources’ objective is to provide the mineral resources for the next generation of copper mines in Chile. It is focused on building a portfolio of projects, with emphasis on mid to advanced-stage copper exploration and resource development projects. To this end, mineral targets are regularly assessed in pursuit of acquisition, strategic exploration and significant discovery.

Tribeca’s flagship property is the La Higuera IOCG project that comprises 4,147 hectares of granted mining and exploration licences and is located towards the southern end of the Chilean Coastal IOCG Belt in the Coquimbo Region of northern Chile. Further information about the La Higuera Project can be found in the NI 43-101 Technical Report lodged by Tribeca on SEDAR on 24 October 2022. Further, Tribeca holds an option to acquire a 100% interest in the Chiricuto Property.  Chiricuto hosts a rare undrilled iron oxide alteration system in the Mantoverde – Santo Domingo district, located in the Atacama Region within the Chilean Coastal IOCG Belt.

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Cautionary Note

Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.

This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or with any securities regulatory authority of any state or other jurisdiction in the United States, and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons, as such term is defined in Regulation S under the Securities Act (“Regulation S”), except pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act.

Forward Looking Information

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to the ability of the Company to close the Private Placement on the timing and terms described herein, or at all, the use of proceeds of the Private Placement, the operations of the Company, the drilling programs, that the Company’s results have or will attract potential investors and approval of the TSXV and any other regulatory bodies.

Such statements and information reflect the current view of the Company. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: new laws or regulations could adversely affect the business and results of operations of the Company and anticipated work on the projects.

There are several important factors that could cause the Company’s actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others: reliance on key management; changes in the credit or security markets; results of operation activities; unanticipated costs and expenses; fluctuations in commodity prices; and general market and industry conditions. The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.

The Company has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.