Muzhu Mining Ltd. announced a non-brokered private placement of up to 3,000,000 units at a price of CAD 0.05 per unit for gross proceeds of CAD 150,000 on April 4, 2024. Each unit consisting of one common share and one common share purchase warrant, with each full warrant entitling its holder to purchase one common share at CAD 0.07 for a period of one year after issuance. The company wishes to announce that it has granted incentive stock options for participants of the grant to acquire an aggregate of 1,450,000 common shares at an exercise price of CAD 0.05 in accordance with the company's 10% rolling incentive stock option plan.

The options are exercisable for a five-year term expiring April 4, 2029. No finders' fees are payable.