Yukon Metals Upsizes Private Placement to C$12M

Canada NewsWire /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES/ VANCOUVER, BC , May 27, 2026 /CNW/ - Yukon Metals Corp. (CSE: YMC) (FSE: E770) (OTCQB: YMMCF) (" Yukon Metals " or the " Company ") is pleased to announce that in connection with its previously announced "best efforts" private placement, the Company and ATB Cormark Capital Markets, together with Canaccord Genuity Corp., as co-lead agents, and on behalf of a syndicate of agents, including Haywood Securities Inc. (collectively, the " Agents "), have agreed to increase the size of the previously announced private placement for aggregate gross proceeds of up to C$12 million (the " Upsized Offering ").  The Upsized Offering will consist of the issuance and sale of: Each Warrant issuable under the Upsized Offering will entitle the holder thereof to purchase one Common Share at a price of C$0.75 for a period of two years following the Closing Date (as defined below). For the avoidance of doubt, the Common Shares underlying the Warrants shall not qualify as "flow-through shares" as defined in subsection 66(15) of the Tax Act.  The FT Units and the HD Units are collectively referred to herein as the " Offered Securities ".

The Company has granted the Agents an option to sell up to an additional C$1,000,000 in any combination of Offered Securities at their respective issue prices, exercisable in whole or in part at any time up to 48 hours prior to the Closing Date. The Company, pursuant to the provisions in the Tax Act, shall use an amount equal to the gross proceeds of the sale of the FT Units to incur "Canadian exploration expenses" that qualify as "flow-through critical mineral mining expenditures" as both terms are defined in the Tax Act (the " Qualifying Expenditures ") after the Closing Date and prior to December 31, 2027. The Company shall renounce the Qualifying Expenditures so incurred to the purchasers of the FT Units effective on or before December 31, 2026.

The Company intends to use the net proceeds from the sale of the HD Units for a drilling campaign on its AZ and Birch properties and for working capital and general corporate purposes. The Offered Securities will be offered for sale by way of private placement pursuant to Part 5A of National Instrument 45-106 – Prospectus Exemptions and Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the " LIFE Exemption ") in each of the provinces of Canada and the Yukon Territory. The Agents will also be entitled to offer the HD Units for sale (or resale) in the United States pursuant to available exemptions from the registration requirements of the United States Securities Act of 1933 , as amended, and in those other jurisdictions outside of Canada and the United States provided that no prospectus, registration statement or similar document is required to be filed or no ongoing reporting requirement or requisite regulatory or governmental approval arises in such other jurisdictions.