Announcement • May 07
South Star Battery Metals Corp. announced that it expects to receive CAD 4 million in funding South Star Battery Metals Corp. announces a non-brokered private placement to issue 26,666,667 common shares at a price of CAD 0.15 per common share for gross proceeds of up to CAD 4,000,000.05 on May 6, 2026. The Company may pay finder’s fees in connection with the Offering, within the limits permitted by the policies of the TSX Venture Exchange. Closing of the Offering remains subject to customary conditions, including receipt of all necessary corporate and regulatory approvals, including approval of the Exchange. The Offering is not subject to a minimum aggregate subscription amount. Insiders, including related parties as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”), may participate in the Offering. Mr. Tiago Cunha, Interim CEO, President and a director of the Company, directly or through affiliated entities, is expected to subscribe for an investment of up to CAD 4,000,000. New Risk • Apr 27
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 19% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$5.2m free cash flow). Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings have declined by 23% per year over the past 5 years. Shareholders have been substantially diluted in the past year (79% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$14.6m market cap, or US$10.7m). New Risk • Apr 05
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$5.2m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$5.2m free cash flow). Earnings have declined by 23% per year over the past 5 years. Shareholders have been substantially diluted in the past year (79% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (18% average weekly change). Market cap is less than US$100m (CA$15.2m market cap, or US$10.9m). 
