Twenty Mile Metals Inc. Closes $2,000,000 Private Placement

Vancouver, British Columbia--(Newsfile Corp. - October 19, 2026) - Twenty Mile Metals Inc. (TSXV: MILE) (the "Company") is pleased to announce that it has closed its non-brokered private placement previously announced on September 14, 2026 (the "Offering"). Pursuant to the Offering, the Company issued 25,000,000 common shares (the "Common Shares") at a price of $0.08 per Common Share for aggregate gross proceeds of $2,000,000.

The Company intends to use the net proceeds of the Offering for general exploration activities, including later exploration phases on its Twenty Mile property, to evaluate the potential for a complementary acquisition of a secondary property to reduce its reliance on a single property, and for general corporate purposes.

No finders' fees, commissions or broker warrants were paid or issued in connection with the Offering. All Common Shares issued under the Offering are subject to a hold period expiring February 20, 2027, in accordance with applicable securities laws and the policies of the TSX Venture Exchange (the "TSXV"). The Offering remains subject to final acceptance of the TSXV.

Chris Beltgens, the Chief Executive Officer and a director of the Company, subscribed for 62,500 Common Shares under the Offering for gross proceeds of $5,000 (the "Insider Participation"). The Insider Participation constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on the 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, as neither the fair market value of the Common Shares issued to, nor the consideration paid by, the insider exceeds 25% of the Company's market capitalization.

About Twenty Mile Metals Inc.

Twenty Mile Metals Inc. is a Vancouver-based mineral exploration company advancing precious-metals and critical minerals projects in British Columbia.

For further information, please contact:

Chris Beltgens
CEO and Director
Twenty Mile Metals Inc.
E-Mail: [email protected]

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

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws, including statements with regard to the use of proceeds of the Offering, future exploration on the Twenty Mile property, the potential acquisition of a secondary property, the receipt of final acceptance of the TSXV, and the Company's operations and potential strategic opportunities. These statements address future events and conditions and are reliant on assumptions made by the Company's management, and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. As a result of these risks and uncertainties, and the assumptions underlying the forward-looking information, actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement, except as required by applicable law.

This release shall not constitute an offer to sell or the solicitation of an offer to buy the Common Shares, nor shall there be any sale of the Common Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The Common Shares being offered will not be, and have not been, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, a U.S. person.

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