Mosaic closes second tranche of private placement

Montreal, Quebec--(Newsfile Corp. - October 8, 2026) - Mosaic Minerals Corporation (CSE: MOC) ("Mosaic" or the "Company") is pleased to announce the closing of a second tranche of a private placement of units and flow-through units.

Private Placement

The Company announces the closing of a second tranche of a private placement comprising 1,100,000 flow-through units ("FT Units") at $0.105 per FT Unit and 982,000 units ("Units") at $0.085 per Unit, for aggregate gross proceeds of $198,470.

Each FT Unit consists of one (1) common share of the Company (each, a "Common Share") to be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) (each, an "FT Share") and one (1) common share purchase warrant. Each warrant entitles the holder to purchase one Common Share (each, a "Warrant Share") at a price of $0.17 for a period of 12 months from the date of issuance.

Each Unit consists of one (1) common share of the Company (each, a "Common Share") and one (1) common share purchase warrant. Each warrant entitles the holder to purchase one Common Share (each, a "Warrant Share") at a price of $0.12 for a period of 24 months from the date of issuance.

The gross proceeds from the sale of the FT Units will be used by the Company to incur eligible "Canadian exploration expenses" on the Golden Island project that qualify as "flow-through mining expenditures," as such terms are defined in the Income Tax Act (Canada) (the "Eligible Expenditures"), in connection with the Company's projects in Quebec, Canada. All eligible expenditures will be renounced in favor of the subscribers of the FT Units, effective December 31, 2026.

Jonathan Hamel, President, CEO and Director of the Company (the "Insider") purchased directly 800,000 Flow-Through Units for aggregate consideration of $84,000. The participation of the Insiders in the Offering constitutes a related party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") but is exempt from the formal valuation and minority approval requirements pursuant to Sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value of the securities issued to, nor the consideration paid by, the insiders exceeded 25% of the Company's market capitalization. The Company did not file a material change report with respect to the participation of the Insider at least 21 days prior to the closing of the Private Placement as the insider participation was not determined at that time.

In connection with the offering, the Company paid a 6% cash finder's fee (totaling $1,890) and issued a total of 22,235 finder's warrants (the "Finder's Warrants") to two (2) arm's-length finders. Each Finder's Warrant is exercisable to acquire one additional common share at a price of $0.085 per warrant for a period of 24 months from the date of issuance.

All securities issued in connection with the offering will be subject to a hold period of four (4) months and one day, ending on February 2, 2027.