Metals Creek Launches $1 Million Financing to Advance Newfoundland Natural Hydrogen and Helium Projects
Metals Creek Resources has announced a proposed non-brokered private placement of up to C$1 million to fund exploration across its project portfolio, including its natural hydrogen and helium assets in Newfoundland.
The financing consists of up to C$500,000 in flow-through units and up to C$500,000 in non-flow-through units. Subject to regulatory approval, the private placement is expected to close on or before July 31, 2026.
The company said proceeds will support exploration at its Newfoundland hydrogen and helium projects, its Ogden Gold Project in Ontario, and general working capital. Funds raised through the flow-through component will be directed toward eligible Canadian exploration expenditures on the company's mineral properties.
Metals Creek has been building its presence in the emerging natural hydrogen sector through a 50/50 partnership with Benton Resources. Together, the companies control two prospective projects in western Newfoundland.
The Smoking Gun Prospect was selected after historical drilling identified highly anomalous helium concentrations in groundwater, suggesting the potential for an active subsurface gas system. At the nearby Parson's Pond project, historical drill records documented methane concentrations of up to 72% while intersecting geological formations containing serpentine fragments, glauconite, chromium-bearing rocks and major fault structures that the company believes may be favourable for natural hydrogen generation and migration.
With this financing, Metals Creek aims to continue advancing exploration across these projects while expanding geological understanding of western Newfoundland's emerging hydrogen and helium potential.
Full press release is attached below:
Thunder Bay, Ontario--(Newsfile Corp. - June 30, 2026) - Metals Creek Resources Corp. (TSXV: MEK) (FSE: M1C1) (the "Company" or "Metals Creek") is pleased to announce that it intends to complete a non-brokered private placement of both flow-through and non-flow-through units (the "Private Placement") for an aggregate total of up to $1 million. The Private Placement is expected to close on or before July 31, 2026.
The Company intends to issue up to 9,090,909 flow-through units at a price of $0.055 per unit (the "FT Units") for aggregate proceeds of up to $500,000. Each FT Unit will consist of one flow-through common share (the "FT Shares") and one-half of a non-flow through common share purchase warrant (the "FT Warrants"). Each whole FT Warrant will entitle the holder to purchase one additional non-flow through common share of the Company at an exercise price of $0.10 per common share for a period of 24 months from the date of issue. The FT Shares will entitle the holder to receive the tax benefits applicable to flow-through shares, in accordance with provisions of the Income Tax Act (Canada).
The Company also intends to issue up to 10,000,000 non-flow through units at a price of $0.05 per unit (the "NFT Units") for aggregate proceeds of up to $500,000. Each NFT Unit will consist of one non-flow through common share and one non-flow through common share purchase warrant (the "NFT Warrants"). Each NFT Warrant will entitle the holder to purchase one additional non-flow through common share of the Company at an exercise price of $0.10 per common share for a period of 24 months from the date of issue.
In connection with the Private Placement, the Company may pay finders' fees in cash or securities or a combination of both, as permitted by the policies of the TSX Venture Exchange. All securities issued pursuant to the Private Placement will be subject to a four-month hold period. The Private Placement is subject to approval by the TSX Venture Exchange.
The proceeds raised from the financing will be used for exploration on the Company's Newfoundland Hydrogen/Helium projects, its Ogden Gold Project and for general working capital purposes.
The proceeds raised from the FT Units will be used for exploration on the Company's Newfoundland and Ontario properties including its Ogden Gold Project and will ensure that such Canadian Exploration Expenses qualify as a "flow-through mining expenditure" for purposes of the Income Tax Act (Canada), related to the exploration of the Company's exploration projects.
About Metals Creek Resources Corp.
Metals Creek Resources Corp. is a junior exploration company incorporated under the laws of the Province of Ontario, is a reporting issuer in Alberta, British Columbia and Ontario, and has its common shares listed for trading on the Exchange under the symbol "MEK". Metals Creek has earned a 50% interest in the Ogden Gold Property including the former Naybob Gold mine, located 6 km south of Timmins, Ontario and has an 8 km strike length of the prolific Porcupine-Destor Fault (P-DF).
Metals Creek has also jointly acquired through staking on a 50/50 basis with Benton Resources, potential natural white hydrogen projects in Newfoundland. The Smoking Gun Prospect was selected after research uncovered highly anomalous helium with values up to 8,900 parts per billion (ppb) in water collected from an historic drill hole. These licenses are located within the Deer Lake Basin, which is thought to be a prospective environment for the presence Helium (He) and Natural (White) Hydrogen (H₂).
At Parson's Pond, research of historical drill logs in two holes 14.2 km apart, have observed C1 methane gas levels reaching 72%. The area is underlain by thrust faulted rocks of the Humber Arm Supergroup. Drill logs indicate unique sedimentary units composed of shales along with sandstones containing fragments of serpentine and chrome. Of particular interest, is the presence of the mineral glauconite, which, combined with these geological indicators, suggests a highly prospective environment for the potential formation of white hydrogen, (natural hydrogen) to form within the basin. The presence of such high concentrations of methane alongside hydrogen indicators suggests a potentially active gas system within the basin. In addition, surface areas have been noted to vent gas within the project boundaries.
Additional information concerning the Company is contained in documents filed by the Company with securities regulators, available under its profile at www.sedarplus.ca.
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 release.
Alexander (Sandy) Stares, President and CEO709-424-1141Metals Creek Resources CorpMetalsCreek.com Twitter.com/MetalsCreekRes Facebook.com/MetalsCreek
