Bathurst Metals Corp. announced a non-brokered private placement of 1,600,000 flow-through units at a price of CAD 0.125 per unit for gross proceeds of CAD 200,000, and 400,000 non flow-through units at a price of CAD 0.10 per unit for gross proceeds of CAD 40,000; for aggregate gross proceeds of CAD 240,000 on December 14, 2022. Each flow-through unit consists of one flow-through common share and one share purchase warrant to purchase one additional non flow-through share exercisable at a price of CAD 0.25 per warrant share for a period of two years from the date of issue of the units.

Each non flow-through unit will be comprised of one share and one nontransferable share purchase warrant, with each whole warrant entitling the holder to purchase one additional share at a price of CAD 0.20 for one year. The transaction is expected to close on or before December 31, 2022. The transaction is subject to the approval of the TSX Venture Exchange.

All shares issued will be subject to a four month and one day hold period which will expire on the date that is four months and one day from the date of issue.