Krait Critical Minerals Closes First Tranche of Private Placement for $1.22 Million

Vancouver, British Columbia--(Newsfile Corp. - September 25, 2026) - Krait Critical Minerals Corp. (CSE: KRIT) (FSE: U0S) (the "Company" or "Krait") is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement (the "Offering"), issuing 1,631,100 common shares (the "Shares") at $0.75 per Share for gross proceeds of $1,223,325.

Further to its news releases dated September 8, 2026, and September 16, 2026, the Company has closed the first tranche of its previously announced non-brokered private placement. Krait issued 1,631,100 common shares at $0.75 per share for gross proceeds of $1,223,325. The Offering was increased to a maximum of $2,000,000 on September 16, 2026. The Company expects to close a second tranche next week, subject to customary closing conditions and any required regulatory approvals. No warrants were issued to subscribers as part of the Offering.

In connection with the first tranche, the Company paid aggregate finder's fees of $56,437.50 and issued 75,250 non-transferable finder's warrants. Each finder's warrant entitles its holder to acquire one additional common share of the Company at $0.95 for a period of one year from the date of issuance, subject to applicable securities laws and Canadian Securities Exchange ("CSE") policies.

"We are pleased to have closed this first tranche and appreciate the support shown by investors as we continue the Offering," said Oscar Mendoza, Chief Executive Officer and Director of Krait. "With a second closing planned for next week, this financing will support our work at Goldbar Spider Lake and our evaluation of the Washington antimony portfolio acquired through Nevada Hills."

The Company expects to use the net proceeds for exploration expenditures at its Goldbar Spider Lake Project in Ontario; continued evaluation of the assets held through its wholly owned subsidiary, Nevada Hills Antimony LLC, including interests relating to the Bales Antimony Project and the Antimony Bell Project in Washington State; and general working capital and corporate purposes. Krait completed its acquisition of Nevada Hills on September 16, 2026. Nevada Hills holds contractual rights to acquire the underlying Bales claims; Krait did not acquire direct ownership of those claims upon closing the Nevada Hills transaction.

The Shares and finder's warrants issued in connection with the first tranche, together with any common shares issued upon exercise of the finder's warrants before expiry of the applicable hold period, are subject to a statutory hold period of four months and one day from the date of issuance of the Shares and finder's warrants, as applicable, in addition to any applicable CSE restrictions.

About Krait Critical Minerals Corp.

Krait Critical Minerals Corp. is a Canadian mineral exploration company focused on advancing its Goldbar Spider Lake Project in Ontario while evaluating additional mineral opportunities in North America. The Company's strategy is to combine disciplined project evaluation, modern exploration technologies and responsible field programs to identify and advance high-quality exploration opportunities with the potential to create long-term shareholder value.

Krait's flagship asset is the Goldbar Spider Lake Project in Ontario's Thunder Bay Mining Division, approximately 20 kilometres east of Terrace Bay and 30 kilometres west-northwest of Marathon. The 3,636-hectare (approximately 8,985-acre) property comprises 148 mining claims and 171 claim units, and Krait has an option to earn a 100% interest, subject to a 3% net smelter return royalty. Located within the western Schreiber-Hemlo Greenstone Belt, the Project benefits from year-round access via Highway 17, nearby rail and power infrastructure, and proximity to established mining communities and service providers.

Krait acquired Nevada Hills Antimony LLC ("Nevada Hills") on September 16, 2026. Through Nevada Hills, Krait holds contractual interests relating to the Bales Antimony Project, together with interests in the Antimony Bell Project and other related assets in Washington State. The acquisition expanded Krait's critical-minerals portfolio to include U.S.-based antimony exploration opportunities.

Investors are encouraged to visit Krait's new corporate website at www.kraitminerals.com to learn more about the Company, its Goldbar Spider Lake Project, management team, corporate strategy and latest news.

All stakeholders are encouraged to follow the Company on LinkedIn, X.com, Facebook, and Instagram.

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

On Behalf of the Board of Directors
Oscar Mendoza
Chief Executive Officer and Director

For further information, please contact:
Krait Critical Minerals Corp.
Steve Vanry – CFO
Phone: +1 604 671-9522
Email: [email protected]

Disclaimer for Forward-Looking Information

This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking information") within the meaning of applicable Canadian securities laws. Forward-looking information is often identified by words such as "expects," "intends," "plans," "anticipates," "may," "will," "could" and similar expressions. Forward-looking information in this release includes, but is not limited to, statements concerning the expected completion and timing of a second tranche of the Offering; the number of Shares to be issued and proceeds to be raised in any subsequent tranche; the possible payment of additional finder's fees or issuance of finder's warrants; the receipt of required regulatory or CSE approvals; the anticipated application of net proceeds; the Company's planned exploration expenditures at Goldbar Spider Lake and continued evaluation of the Nevada Hills assets; and Krait's exploration and corporate plans.

Forward-looking information is based on management's current expectations and assumptions as of the date of this release, including that outstanding subscriptions will be completed on the contemplated terms, subscribers will fund their commitments, required approvals will be obtained, market conditions will remain suitable and the Company will be able to apply the proceeds substantially as intended. These assumptions may prove incorrect.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied. These include the risk that a second tranche closes later than expected, raises less than anticipated or does not close; that subscriptions change or are withdrawn; that regulatory or exchange acceptance is delayed or not obtained; that market conditions, exploration priorities or costs change; and that the actual use of proceeds differs from the present plan. Exploration activities are also subject to access, permitting, contractor availability, technical results and other risks described in the Company's continuous disclosure filings available on SEDAR+.

There can be no assurance that a second tranche will close next week or at all, that the Offering will raise its maximum amount, or that planned exploration and evaluation activities will proceed as anticipated. Readers should not place undue reliance on forward-looking information. Except as required by applicable securities laws, the Company undertakes no obligation to update or revise such information as a result of new information, future events or otherwise.

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