Churchill Announces Fully Committed $3 Million Private Placement

TORONTO, Sept. 16, 2025 (GLOBE NEWSWIRE) -- Churchill Resources Inc. (“Churchill” or the “Company”) (TSXV: CRI) is pleased to announce a fully committed non-brokered private placement of 37,500,000 common shares in the capital of the Company (each, a “Common Share”) at a price of $0.08 per Common Share (the “Issue Price”) for total gross proceeds of $3 million (the “Offering”).

The net proceeds of the Offering are expected to be used by the Company to advance its strategic assets in Newfoundland & Labrador, including the Black Raven Antimony-Gold Project (which hosts the past producing Frost Cove antimony mine) and for working capital and general corporate purposes.

The Company expects to pay finder’s fees in connection with the Offering to certain eligible finders in the form of: (i) a cash commission equal to 7.0% of the gross proceeds raised under the Offering from investors introduced to the Company by eligible finders; and (ii) the issuance of such number of non-transferable common share purchase warrants of the Company (the “Finder’s Warrants”) equal to 7.0% of the Common Shares issued pursuant to the Offering from investors introduced to the Company by eligible finders. Each Finder’s Warrant shall be exercisable into one Common Share at the Issue Price for a period of 24 months following the date of issuance.

Closing of the Offering is expected to occur on or about September 25, 2025, and is subject to the satisfaction of certain conditions, including receipt of all applicable regulatory approvals including the approval of the TSX Venture Exchange (the “TSXV”).

About Churchill Resources

Churchill Resources Inc. is a Canadian exploration company focused on strategic, critical minerals in Canada, principally at its prospective Black Raven, Taylor Brook and Florence Lake properties in Newfoundland & Labrador. The Churchill management team, board, and advisors have decades of combined experience in mineral exploration and in the establishment of successful publicly listed mining companies, both in Canada and around the world. Churchill’s Newfoundland and Labrador projects have the potential to benefit from the province’s large and diversified minerals industry, which includes world class nickel mines and processing facilities, and a well-developed mineral exploration sector with locally based drilling and geological expertise.

Further Information

For further information regarding Churchill, please contact:

Churchill Resources Inc.
Conan McIntyre, Chief Executive Officer
Tel. +1 416.272.4738
Email: cmcintyre@churchillresources.com

Paul Sobie, President
Tel. 416.365.0930 (o) 647.988.0930 (m)
Email: psobie@churchillresources.com

FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including, but not limited to, statements about Churchill’s objectives, goals and exploration activities proposed to be conducted on its properties; future growth potential of Churchill, including whether any proposed exploration programs at any of its properties will be successful; exploration results; and future exploration plans and costs. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. In particular, this release contains forward-looking information relating to, among other things, the Offering, including receipt of all required regulatory approvals; the proposed use of proceeds from the Offering; the Company's objectives, goals and exploration activities conducted and proposed to be conducted at the Company's properties; future growth potential of the Company, including whether any proposed exploration programs at any of the Company's properties will be successful; exploration results; and future exploration plans and costs and financing availability.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Such factors, among other things, include: the receipt of all applicable regulatory approvals for the Offering; the completion of the Offering on the terms described herein, or at all; the expected benefits to the Company relating to the exploration conducted and proposed to be conducted at the Company’s properties; failure to identify any additional mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Churchill’s properties, if required; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; and title to properties. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, Churchill cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Churchill assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

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