Etruscus closes $500K first tranche of private placement; completes property-wide ZTEM survey

Canada NewsWire

VANCOUVER, BC , Sept. 29, 2026 /CNW/ -- Etruscus Resources Corp. (CSE: ETR) (OTC: ETRUF) (FSE:ERR) (the "Company" or "Etruscus") announces that it has raised $500,267 in the first tranche ("Tranche 1") of its $700,000 non-brokered private placement (the "Financing), subject to Canadian Securities Exchange ("CSE") approval. Tranche 1 consists of 1,089,500 flow-through units for proceeds of $81,713 and 6,975,900 non-flow-through units for proceeds of $418,554. The Financing consists of flow-through and non-flow-through units in any combination totalling up to $700,000. Proceeds from flow-through units will be incurred solely on qualifying Canadian exploration expenditures at the Company's Rock & Roll Property (the "Property"). Proceeds from non-flow-through units will fund both the Company's general working capital and additional exploration on the Property.

The property-wide ZTEM geophysical survey is currently underway, covering the Company's priority exploration targets and prospective areas along the eastern portion of the Property adjacent to Seabridge Gold's Bronson Corridor Project (see news release dated August 20, 2026). Of the planned 1,388 line-kilometres, approximately 562 line-kilometres have been completed to date, representing approximately 41% of the total survey (Click HERE to view preliminary survey map).

The Bronson Corridor hosts the Snip North deposit, located approximately 3 km from Etruscus' eastern property boundary, where Seabridge recently announced a maiden inferred mineral resource containing 9.2 million ounces of gold, 28.3 million ounces of silver and 923 million pounds of copper (605.7 million tonnes grading 0.47 g/t gold, 0.07% copper and 1.5 g/t silver). The ZTEM survey is designed to identify concealed intrusive centres and associated hydrothermal systems, refine existing exploration targets, and prioritize areas for future diamond drilling.

Each flow-through unit is priced at $0.075 and consists of one flow-through common share and one-half (1/2) of one non-flow-through, non-transferable share purchase warrant with each whole warrant exercisable into one additional common share at a price of $0.12 per share for a 2-year period.

Each non-flow-through unit is priced at $0.06 and consists of one common share and one (1) non-transferable share purchase warrant with each warrant also exercisable into one additional common share at a price of $0.12 per share for a 2-year period.

All shares issued under the Financing will be subject to a hold period of four months and one day from the date of issuance. Any finders' fees associated with the Financing will be paid in accordance with securities regulations, and Tranche 1 includes finders fees of $7,368 and 122,800 finders' warrants, which are also exercisable at $0.12 per share for a 2-year period. Insiders purchased 800,000 non-flow-through units in tranche 1, totalling $48,000.

The flow-through shares will qualify as "flow-through shares" for the purposes of the Income Tax Act (Canada) (the "Act"). The proceeds from the issuance of flow-through units will be used to incur "Canadian exploration expense" (within the meaning of the Act). The Company will renounce these expenses to the purchasers with an effective date of no later than December 31, 2026, and as required under the Act, and, if applicable, as required under Provisional legislation.