Radisson Mining Resources Inc. (TSX-V: RDS) (OTCQB: RMRDF) is pleased to announce that it has closed the second and final tranche of its previously announced non-brokered private placement. Pursuant to the closing of this second tranche, Radisson issued (i) 2,777,778 Charity flow-through Units of the Corporation at a price of $0.47 per CFT Unit. Gross proceeds of the second tranche is $1,305,555.66, representing to the Corporation, in addition to the first tranche, total Gross proceeds of $7,000,000.24.

Each CFT Unit consists of one flow-through Share of the Corporation, sold at $0.47 on a charitable flow-through basis and one-half of Share purchase warrant exercisable at a price of $0.37 per Share for a period of 24 months following the closing date of the Offering.

Matt Manson, President and CEO, commented: “Once again, we are very grateful for the strong support shown by our existing shareholders and new institutional shareholders for this non-brokered private placement, which was well over-subscribed and upsized twice. Our current 35,000 metre drill program at the O’Brien Gold Project is ongoing with three drill rigs, and additional results are expected shortly. The proceeds of this financing will be used to finance a vigorous drill program through 2025, as well as important programs of metallurgical, engineering, and economic evaluation. With our existing cash position and the proceeds from this financing, we expect to end the year with a strong treasury, fully funded for this upcoming work.”

The gross proceeds received by the Corporation from the sale of the CFT Shares will be used to incur Canadian Exploration Expenses that are “flow-through mining expenditures” (as such terms are defined in the Tax Act) on the O’Brien gold project in the Province of Québec, which will be renounced to the subscribers with an effective date no later than December 31, 2024, in the aggregate amount of not less than the total amount of the gross proceeds raised from the issue of FT Shares. For purchasers of CFT Shares resident in the Province of Québec, 10% of the amount of CEE will be eligible for inclusion in the deductible “exploration base relating to certain Québec exploration expenses” and 10% of the amount of the expenses will be eligible for inclusion in the deductible “exploration base relating to certain Québec surface mining exploration expenses” (as such terms are defined in the Québec Tax Act, respectively) giving rise to an additional 20% deduction for Québec tax purposes.

All Offered Securities issued pursuant to this Offering are subject to a restricted hold period of four months and a day, ending on March 2, 2025, under applicable Canadian securities legislation. The Offering remains subject to the final approval of the TSX Venture Exchange (the “TSXV”).

In consideration for services rendered in connection with the Offering, finders’ fees totaling $30,000 were paid by the Corporation. In addition, 111,111 brokers’ warrants entitling the holder thereof to acquire one Share for a period of 24 months from the Closing at a price of $0.37 were issued.

Concurrent with the closing, 500,000 stock options have been issued to an executive of the Corporation at a price of $0.28 which shall be exercisable for a period of 5 years from the date of grant.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) and may not be offered or sold to, or for the account or benefit of, persons in the United States or U.S. persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. “United States” and “U.S. person” are as defined in Regulation S under the U.S. Securities Act.

Radisson Mining Resources Inc.

Radisson is a gold exploration Corporation focused on its 100% owned O’Brien Gold Project, located in the Bousquet-Cadillac mining camp along the world-renowned Larder-Lake-Cadillac Break in Abitibi, Québec. The Bousquet-Cadillac mining camp has produced over 25 million ounces of gold over the last 100 years. The Project hosts the former O’Brien Mine, considered to have been Québec’s highest-grade gold producer during its production. Indicated Mineral Resources are estimated at 0.50 million ounces (1.52 million tonnes at 10.26 g/t Au), with additional Inferred Mineral Resources estimated at 0.45 million ounces (1.60 million tonnes at 8.66 g/t Au). Please see the NI 43-101 “Technical Report on the O’Brien Project, Northwestern Québec, Canada” effective March 2, 2023, Radisson’s Annual Information Form for the year ended December 31, 2023 and other filings made with Canadian securities regulatory authorities available at www.sedar.com for further details and assumptions relating to the O’Brien Gold Project.