EraNova Metals Announces Non-Brokered Private Placement with Long Term Strategic Shareholders

Focused on Unlocking Exploration Potential Across Its District-Scale Ruby Creek Property in 2027

Vancouver, British Columbia–(Newsfile Corp. – October 30, 2026) – EraNova Metals Inc. (TSXV: NOVA) (OTCQB: STXPF) (the “Company” or “EraNova“) is pleased to announce a non-brokered private placement (the “Private Placement“) of up to 6,769,231 units of the Company (“Units“) at a price of $0.13 per Unit for gross proceeds of up to $880,000.

Each Unit will consist of one common share of the Company (a “Common Share“) and one-half of one common share purchase warrant (each whole warrant, a “Warrant“). Each Warrant will entitle the holder to acquire one additional Common Share at a price of $0.25 per Common Share for a period of 3 years following the date of issuance.

The Company intends to use the net proceeds from the Private Placement to support initiatives aimed at expanding EraNova’s corporate profile and investor awareness in international markets, strengthening its technical and operational team, advancing exploration target definition and undertaking preparatory work for a planned summer 2027 drill program at its flagship Ruby Creek Property, and for general working capital purposes.

It is anticipated that certain directors, officers or other insiders of the Company will acquire Units under the Private Placement. Such participation will be considered a “related party transaction” within the meaning of the TSX Venture Exchange Policy 5.9 (the “Policy“) and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“) adopted in the Policy. The Company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the Private Placement as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves related parties, is expected to exceed 25% of the Company’s market capitalization (as determined under MI 61-101).

Closing of the Private Placement is expected to occur as soon as practicable and may take place in one or more tranches. No finders’ fees will be paid in connection with the Private Placement.

The Private Placement is subject to certain conditions, including but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. All securities issued under the Private Placement will be subject to a four-month and one-day statutory hold period in accordance with applicable securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any U.S. state securities laws and may not be offered or sold in the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Corporate Update

The Company also announces the appointment of Yana Silina, the Company’s current Chief Financial Officer, as Corporate Secretary, effective October 31, 2026, replacing Ms. Marion McGrath. Ms. Silina will continue in her role as Chief Financial Officer while assuming the additional responsibilities of Corporate Secretary. EraNova thanks Ms. McGrath for her service and contributions to the Company.

About EraNova Metals Inc.

EraNova Metals is a Canadian mineral exploration and development company focused on advancing precious and base metal projects across western Canada.

The Company’s flagship asset is the Ruby Creek Property, a 29,700-hectare land package near Atlin, BC that hosts both the Adanac Molybdenum Project, a development-stage deposit supported by a NI 43-101 Preliminary Economic Assessment, and the Atlin Discovery Project, – which has a growing pipeline of high-grade copper, gold, silver and tungsten targets across the broader district-scale property.

EraNova also holds two additional 100%-owned assets: the Big Ledge Zinc-Lead Project, located 57 km south of Revelstoke, BC, and the South Thompson Nickel Project in west-central Manitoba.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains certain “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities legislation (collectively, “forward-looking statements”). Such forward-looking statements in this release include, but are not limited to, statements regarding: the completion and timing of the Private Placement; the anticipated use of proceeds; the advancement of the Ruby Creek Project; and future exploration plans, objectives or outcomes.

Forward-looking statements are based on a number of assumptions believed by management to be reasonable at the time such statements are made, any of which may prove to be incorrect. Assumptions have been made regarding, among other things, that: the Private Placement will be completed on the terms described herein; all necessary regulatory approvals, including those of the TSX Venture Exchange, will be obtained in a timely manner; the use of proceeds of the Private Placement as currently anticipated; the availability of financing, labour, equipment and supplies; the accuracy of geological interpretations; and general business and economic conditions.

Forward-looking statements are subject to 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 statements. These risk factors include, but are not limited to: the risk that the Private Placement may not be completed as anticipated or at all; that required regulatory approvals may not be obtained in a timely manner or at all; changes in market conditions or commodity prices; risks related to exploration, development and operations; the risk that costs may exceed budget; risks related to permitting and environmental regulation; uncertainty in geological interpretations; financing risks; and other risks disclosed in the Company’s public disclosure documents available under the Company’s profile on SEDAR+.

Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this news release. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. The Company does not undertake any obligation to update or revise any forward-looking statements, except as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/321698