Eric Sprott invests $2 million in Storm Exploration

VANCOUVER, BC / ACCESS Newswire / August 26, 2026 / Storm Exploration Inc. (TSXV:STRM) (" Storm " or the " Company ") today announced a non-brokered private placement of 5,000,000 units of the Company (the " Units ") at a price of $0.40 per Unit for gross proceeds of $2,000,000 (the " Offering "). A corporation beneficially owned by Mr. Eric Sprott is subscribing for the entire Offering. Once completed, Mr. Sprott's corporation will become Storm's largest shareholder.

"Mr. Sprott's investment will strengthen Storm's treasury and shareholder base," says Bruce Counts, President & CEO of Storm Exploration. "Junior exploration is speculative. We appreciate the confidence he has shown in our team."

"Storm is about to commence up to 3,000m of drilling at Gold Standard, transitioning from speculation to verification of the large Volcanogenic Massive Sulphide ("VMS") target. We are entering an exciting phase of exploration."

Financing Terms

Each Unit (priced at $0.40) will consist of one common share of the Company (a " Common Share ") and one-half of one common share purchase warrant (each whole share purchase warrant, a " Warrant "). Each Warrant will entitle the holder to acquire one additional Common Share at a price of $0.55 for a period of 2 years from the closing of the Offering.

No commissions or finders' fees are payable by the Company in connection with the Offering.

The Company intends to use the net proceeds of the Offering for exploration drilling programs at its Gold Standard project and for general corporate and working capital purposes.

The Offering is being made to Mr. Sprott, through 2176423 Ontario Ltd., an accredited investor, in reliance on the accredited investor exemption available under National Instrument 45-106 - Prospectus Exemptions . The securities issued pursuant to the Offering will be subject to a four month and one day hold period from the date of issuance.

Completion of the Offering is subject to certain conditions, including receipt of all necessary approvals, including the approval of the TSX Venture Exchange (the " TSXV ").

This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements.

Related Party Transaction

Mr. Eric Sprott, through 2176423 Ontario Ltd., a corporation beneficially owned by him, is committing to subscribe for 5,000,000 Units in the Offering for an aggregate purchase price of $2,000,000 (the " Insider Participation "). The Insider Participation will constitute a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (" MI 61-101 "). The Company expects to rely on the exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101, on the basis that neither the fair market value of the Units issued to Mr. Sprott nor the fair market value of the consideration paid by Mr. Sprott exceeds 25% of the Company's market capitalization.

Following completion of the Offering, Mr. Sprott, through 2176423 Ontario Ltd., will hold more than 10% of the Company's issued and outstanding Common Shares and will accordingly become a reporting insider of the Company. On a partially diluted basis, assuming the exercise of the warrants forming part of the Units, Mr. Sprott's ownership interest will remain below 20% as a result of the 19.99% control person blocker contained in the warrants.

On behalf of the Company,

Bruce Counts, President, CEO and Director

For further information, please contact:

Storm Exploration Inc. T: +1 (604) 506-2804 E: bcounts@stormex.ca

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

Forward Looking Information

This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, completion of the Offering. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information, including the approval of the TSX Venture Exchange of the Offering, the allocation of Units and Charity FT Units in the Offering, and the ability of the Company to locate suitable purchasers for the Offering. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

Not for distribution to the United States news wire services or for dissemination in the United States

SOURCE: Storm Exploration Inc.

View the original press release on ACCESS Newswire

ACCESS Newswire

August 26, 2026 - 3:00 AM PDT

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