Durango Resources Inc. announced a non-brokered flow-through private placement of 8,166,667 flow through units at a price of CAD 0.09 per unit for gross proceeds of CAD 735,000 and 1,700,000 non flow through units at a price of CAD 0.05 per unit for gross proceeds of CAD 85,000 for aggregate gross proceeds of CAD 820,000 on December 28, 2022. Each FT Unit will consist of one flow-through common share and one half of a share purchase warrant, with each whole warrant exercisable into one further common share at a price of CAD 0.18 for a term of two years. Each NFT Unit will consist of one common share and one half of a share purchase warrant, with each whole warrant exercisable into one further common share at a price of CAD 0.075 for a term of two years.

The company will pay finders' fees in connection with the offering in accordance with the policies and subject to the approval of the TSX Venture Exchange. All shares issued in connection with the offering will be subject to a statutory hold period of four months and one day after closing of the offering. The transaction is subject to the approval of the TSX Venture Exchange.