GreenLight Metals Inc. (TSX-V: GRL) is pleased to announce that it has closed its previously announced “bought deal” private placement offering of an aggregate of 32,890,000 common shares of the Company, including 4,290,000 Shares issued as a result of the full exercise of the Underwriters’ option, at a price of C$0.35 per Share for gross proceeds to the Company of C$11,511,500. The Offering was conducted by Stifel Nicolaus Canada Inc. and TD Securities Inc., as joint bookrunners and co-lead underwriters, pursuant to an underwriting agreement dated November 26, 2025 between the Underwriters and the Company.

The Company intends to use the net proceeds received from the Offering for development purposes at the Company’s Bend Project in Wisconsin, exploration on the Penokean VMS Belt in Wisconsin, property payments, project support and general corporate and working capital purposes, as further set out in the Offering Document (as defined below).

In connection with the Offering, the Company paid the Underwriters a cash commission of C$615,653.85 and issued to the Underwriters an aggregate of 1,544,622 non-transferable broker warrants of the Company. Each Broker Warrant is exercisable into one Share at a price of C$0.35 per Share at any time prior to November 26, 2027.

The Shares were issued and sold to purchasers pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions, as amended and supplemented by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. There is an offering document related to the Offering that can be accessed under the Company’s issuer profile on SEDAR+ at www.sedarplus.ca and on the Company’s website at www.greenlightmetals.com. The Shares issued pursuant to the Listed Issuer Financing Exemption are not subject to a hold period in Canada pursuant to applicable Canadian securities laws. All other securities not issued pursuant to the Listed Issuer Financing Exemption, including the Broker Warrants, are subject to a statutory four month hold period in accordance with applicable Canadian securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the 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 (the “1933 Act“) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

About GreenLight Metals Inc.

GreenLight Metals is a Wisconsin-focused exploration company advancing copper-gold and gold projects across the Penokean Volcanic Belt-one of North America’s most prospective VMS districts-and the Kalium Canyon epithermal gold project in Nevada’s Walker Lane. In Wisconsin, our portfolio includes the Bend copper-gold deposit, the Reef high-grade gold project, and the Lobo and Lobo East massive sulfide targets. Guided by a team with deep roots in the state, we are building a modern minerals company for Wisconsin, by Wisconsin-committed to responsible exploration, transparent engagement, and creating durable local opportunities as we help supply the critical metals that power the energy transition.