Star Metro - Tintina Mines Closes C$91 Million Subscription Receipt Financing to Advance Domeyko Sulfuros Transaction with Strategic Investment from the Gignac Family, Sumitomo Corporation and Franco-Nevada

TORONTO, ON AND SANTIAGO, CHILE / ACCESS Newswire / July 10, 2026 / Tintina Mines Limited (TSXV:TTS) ("Tintina" or the "Company") is pleased to announce that it has closed its non-brokered private placement (the "Offering") of subscription receipts (the "Subscription Receipts") for aggregate gross proceeds of approximately C$91 million, at a price of C$0.68 per Subscription Receipt, as previously described in the Company's news releases dated June 2, 2026 and July 2, 2026. The Subscription Receipts were issued on July 9, 2026, and the gross proceeds of the Offering are being held in escrow pending satisfaction of the Escrow Release Conditions (as defined below).

The Offering was anchored by a newly formed investment vehicle (the "Anchor Investor") funded equally by Sumitomo Corporation ("Sumitomo"), a leading Fortune Global 500 integrated trading and business investment company headquartered in Tokyo, Japan, and the Gignac family, founders of G Mining Services Inc. ("G Mining Services"), a Canadian mining development company with an established track record of project delivery. The Offering also included cornerstone participation from Franco-Nevada Corporation, a leading gold-focused royalty and streaming company, and a broader group of strategic, institutional and other investors assembled by G Mining Capital Inc. ("GMC"), a Canadian mining investment platform whose principal shareholders are the Gignac family and Sumitomo. The Offering included participation from a broad investor base, including strategic and institutional investors, retail investors and global asset managers. Canaccord Genuity Corp. acted as finder in connection with approximately C$17 million of Subscription Receipts issued under the Offering, in consideration for which it received a 5% cash finder's fee from the Company.

Upon satisfaction of the Escrow Release Conditions, net proceeds of the Offering are expected to be used to advance the Domeyko Sulfuros copper-gold project (the "Project") toward a final investment decision ("FID"), including preliminary economic assessment optimisation, infill and exploration drilling, environmental baseline studies, permitting, community engagement and the preparation of a definitive feasibility study, and to fund the acquisition of the remaining 26.25% minority interest in Tintina's Chilean operating subsidiary, Andean Belt Resources SpA ("ABR"), for aggregate cash consideration of US$26.25 million (the "Minority Acquisition").

The principal conditions for the release of the proceeds of the Offering to the Company and the simultaneous exchange of the Subscription Receipts for their underlying securities of the Company (the "Escrow Release Conditions") are the completion of the Minority Acquisition (subject only to the payment of the purchase price owing thereunder), the receipt of all requisite regulatory and the receipt of all requisite shareholder approvals (the "Shareholder Approvals"). An annual general and special meeting of the shareholders of Tintina (the "Meeting") has been scheduled for August 21, 2026, in order to seek the Shareholder Approvals.

The Subscription Receipts, the securities issuable upon exchange thereof, and the Common Shares (as defined below) issuable upon exercise of the Warrants are subject to applicable resale restrictions, including a hold period of four months and one day from the closing of the Offering under Canadian securities rules. Such securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any U.S. state securities laws, and may not be offered or sold in the "United States" or to, or for the account or benefit of, U.S. persons, except pursuant to registration under the U.S. Securities Act and applicable U.S. state securities laws or an available exemption from such registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Management Commentary

Mr. Juan Enrique Rassmuss, Chairman and Chief Executive Officer of Tintina, stated - "This is an important step for Tintina and for Domeyko Sulfuros. The Project has the scale, location and geological potential to become a meaningful copper-gold development opportunity, and this financing brings in the partners and capital required to move it into its next phase. We believe this transaction provides a clear path to consolidate ownership of the Project and advance Domeyko Sulfuros toward FID."

Claude Dufresne, Chief Executive Officer of GMC, stated - "The successful closing of this financing is a defining milestone for G Mining Capital and a strong foundation for the development of Domeyko Sulfuros. The Project is exactly the type of high-quality copper opportunity GMC was established to pursue, and we look forward to working with Tintina, Sumitomo, the Gignac family and the broader investor group to advance it toward FID."

Early Warning Reporting Disclosure

Immediately prior to the closing of the Offering, the Anchor Investor did not beneficially own or control any securities of the Company.

Immediately following the closing of the Offering, the Anchor Investor beneficially owns and controls 71,030,000 Subscription Receipts. Because the Subscription Receipts do not carry voting rights prior to their exchange, the Anchor Investor's current security holding percentage of the outstanding common shares of the Company (the "Common Shares") is 0%.

The particulars of the Offering are described above.

Assuming the satisfaction of the Escrow Release Conditions and the simultaneous exchange of the Subscription Receipts, the Anchor Investor would beneficially own and control 71,030,000 Common Shares and 71,030,000 common share purchase warrants comprised of 35,515,000 first warrants exercisable at C$0.80 per Common Share for a period of three years, and 35,515,000 second warrants exercisable at C$1.00 per Common Share for a period of five years (collectively, the "Warrants"), representing approximately 25% of the issued and outstanding Common Shares on a non-diluted basis, and approximately 38% of the issued and outstanding Common Shares on a partially-diluted basis (assuming the exercise of all Warrants held by the Anchor Investor).

In accordance with applicable securities laws, the Anchor Investor may, from time to time and at any time, acquire additional Common Shares and/or other equity, debt or other securities or instruments (collectively, the "Securities") of the Company in the open market or otherwise, and the Anchor Investor reserves the right to dispose of any or all of their Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of the Company and other relevant factors.

An early warning report containing additional information with respect to the foregoing matters will be filed under the Company's SEDAR+ profile at www.sedarplus.ca and may also be obtained by contacting:

Claude Dufresne
c/o G Mining Capital Inc.
1010-5025 Lapinière Blvd
Brossard, QC J4Z 0N5
450-465-1950
[email protected]

About Tintina Mines Limited

Tintina Mines Limited (TSXV:TTS) is a TSXV-listed mineral exploration and development company focused on advancing the Domeyko Sulfuros Copper-Gold Project in the Atacama Region of Chile through ABR, its currently 73.75%-owned Chilean subsidiary. For more information, please visit www.tintinamines.com or refer to the Company's filings on SEDAR+ at www.sedarplus.ca.

Cautionary Statement Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation that is based on current expectations, estimates, projections and interpretations about future events as at the date of this news release. In particular, although the Offering has closed and the gross proceeds are being held in escrow, the conversion of the Subscription Receipts, release of the escrowed proceeds and completion of the Minority Acquisition remain subject to the satisfaction or waiver, where permitted, of the Escrow Release Conditions. Further forward-looking information includes, but is not limited to, information with respect to the anticipated use of proceeds from the Offering following release from escrow; the advancement of the Project toward FID; and the timing of the Meeting. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "add" or "additional", "advance", "advancing" or "advancement", "anticipates" or "anticipated", "assumptions", "believes", "can be", "continue" or "continuing", "convert" or "conversion", "deliver" or "delivering", "estimates" or "estimated", "expect", "expected" or "expectations", "forward", "intends" or "intended", "may", "plans", "pending", "potential", "preliminary", "pro forma", "projections", "proposed", "reflects", "subject to", "support", "targeted", "update", "upside", "will" or "will be", "could", "would", "occur", or "achievements".

Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Tintina to be materially different from those expressed or implied by such forward-looking information, including, without limitation: the expectations and beliefs of Tintina that the conversion of the Subscription Receipts, the release of escrowed proceeds and the Minority Acquisition will be completed in accordance with their respective terms; that all required regulatory approvals, including the approval of the TSX Venture Exchange and the Shareholder Approvals will be obtained, including that the Supporting Shareholders will vote in favour of the Shareholder Approvals in accordance with their respective voting support agreements; risks associated with required regulatory approvals; future commodity prices, including copper and gold; changes in foreign exchange and interest rates; actual results of current exploration activities; government regulation; political or economic developments in Chile; conflicts and their effect on supply chains; environmental risks; pandemic risks; permitting timelines; capital expenditures; operating or technical difficulties in connection with development activities; employee relations; the speculative nature of copper and gold exploration and development, including the risks of diminishing quantities or grades of reserves; contests or uncertainties over title to properties; tax considerations and changes in tax law or the interpretation thereof; changes in project parameters as plans continue to be refined; as well as those risk factors discussed in Tintina's management's discussion and analysis and other continuous disclosure filings under its profile on SEDAR+ at www.sedarplus.ca. Tintina cautions that the foregoing list of material factors and assumptions is not exhaustive. Although Tintina has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Tintina does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

For Further Information

Tintina Mines Limited
Juan Enrique Rassmuss, President, Chairman & Chief Executive Officer
[email protected]
1 (416) 848-0106

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE: Tintina Mines Limited

View the original press release on ACCESS Newswire

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