Purecore Upsizes Non-Brokered Private Placement to $3.5M

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, British Columbia, Oct. 15, 2026 (GLOBE NEWSWIRE) -- Purecore Metals Inc. (CSE: PURE) (FSE: J8Y) (OTCQB: PPURF) (“Purecore” or the “Company”) is pleased to announce that, as a result of strong investor demand, the Company has upsized its previously announced non-brokered private placement from C$2,500,000 to up to C$3,500,000 (the “Offering”).

The Offering will consist of a combination of hard dollar units of the Company (the “HD Units”) at a price of C$1.35 per HD Unit and flow-through units of the Company (the “FT Units”) at a price of C$1.50 per FT Unit. All other terms of the Offering, including the terms of the warrants comprising the HD Units and FT Units, the warrant acceleration provision and the payment of finder’s fees, remain as described in the Company’s news release dated October 2, 2026.

Use of Proceeds

The net proceeds from the sale of the HD Units are expected to be used to advance the Company’s mineral exploration activities, for property-related expenditures and acquisitions, consulting/advisory services and for general corporate and working capital purposes including marketing and investor relations activities.

The gross proceeds allocated to the common shares of the Company (the “Common Shares”) comprising the FT Units will be used by the Company to incur eligible “Canadian exploration expenses” that are intended to qualify as “flow-through mining expenditures” or “flow-through critical mineral mining expenditures”, as such terms are defined in the Income Tax Act (Canada).

The Company intends to renounce qualifying expenditures to FT Unit subscribers, with an effective date no later than December 31, 2026, in an amount not less than the gross proceeds allocated to the Common Shares comprising the FT Units.

Completion of the Offering remains subject to the satisfaction of customary closing conditions and all applicable corporate and regulatory requirements, including the policies of the Canadian Securities Exchange (the “CSE”).

All securities issued pursuant to the Offering will be subject to a four-month hold period from their applicable date of issuance in accordance with applicable Canadian securities laws and the policies of the CSE.

The securities to be issued under the Offering will be offered pursuant to applicable exemptions from the prospectus requirements of Canadian securities laws.

About Purecore Metals Inc.

Purecore Metals Inc. is a Canadian mineral exploration company focused on identifying, acquiring and advancing uranium and copper assets that are critical to the next generation of energy infrastructure.

The Company’s strategy is focused on building a portfolio of high-quality exploration and development opportunities with the potential to host significant scale.

For further information, please contact:

Purecore Metals Inc.
Peter Berdusco
Chief Executive Officer
Email: investors@purecoremetals.com
Telephone: 1.877.844.4661

CSE: PURE | FSE: J8Y | OTCQB: PPURF

Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information in this news release includes, but is not limited to, statements regarding the completion, composition, size and timing of the Offering; the intended use of proceeds from the Offering; the closing of the Offering; and the Company’s exploration and corporate plans.

Forward-looking information is based on management’s current expectations, estimates, assumptions and projections that, while considered reasonable by management as of the date of this news release, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking information.

There can be no assurance that the Offering will be completed as proposed or at all, that the Company will raise the maximum amount contemplated under the Offering, or that the proceeds of the Offering will be used as currently anticipated. Factors that could cause actual results to differ materially include, among others, the ability of the Company to obtain necessary regulatory approvals, changes in market conditions, investor demand, commodity prices, exploration results, availability of capital and the risks generally associated with mineral exploration and development.

Readers are cautioned not to place undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any applicable 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 absent registration or an applicable exemption from such registration requirements.