Tectonic Metals Secures $12.7 Million for Alaska Gold Drilling Project

On May 20, 2025, Tectonic Metals Inc. successfully closed an oversubscribed private placement, raising C$12.7 million. Initially targeting C$7 million, this strong investor support highlights confidence in Tectonic's Flat Gold Project in Alaska. Proceeds will finance the 2025 Phase I Drill Program, building on the 2024 Alpha Bowl discovery, a high-grade gold find near Flat Creek.

Crescat Capital led the financing, contributing C$3.5 million. The project, located 40 km from Novagold’s Donlin Gold, is expected to benefit from regional infrastructure development. The shares were consolidated on a 10-for-1 basis, reducing the total from 419 million pre-consolidation to nearly 42 million post-consolidation shares.

Drilling at Chicken Mountain has consistently returned promising gold results. Tectonic's focus aims to define a significant economically viable gold resource, supported by strategic investors aligned with the company's long-term vision.