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Forte Minerals Corp. Closes Oversubscribed Private Placement Offering

June 27, 2024

VANCOUVER, British Columbia, June 27, 2024 – Forte Minerals Corp. ("Forte" or the "Company") (CSE: CUAU) (OTQB: FOMNF) (Frankfurt: 2OA)is pleased to announce the closing of its previously announced non-brokered private placement (the "Offering") (see press release dated June 5, 2024). The Offering was initially set for 7,500,000 units but, due to high demand, was oversubscribed, resulting in the issuance of 8,953,000 units at a price of CAD $0.20 per unit for aggregate gross proceeds of CAD $1,790,600.

Each unit in the Offering consisted of one common share (each, a "Share") and one-half of a common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder to purchase one additional common share (each, a "Warrant Share") at an exercise price of CAD $0.30 per Warrant Share until June 26, 2026.

All securities issued in connection with the Offering are subject to a statutory hold period expiring on October 27, 2024.

The Company paid cash finder’s fees totaling $86,736.00 and issued 433,680 finder’s warrants, on the same terms as the Warrants, to investment advisors who introduced subscribers to the Offering.

The net proceeds from the Offering will be used to fund Forte's exploration programs, including the initial 1,200 m drill program at the Pucarini Gold Project and comprehensive surface exploration programs at Esperanza and Alto Ruri. Funds will also support ongoing social engagement and drill permitting efforts, alongside general working capital purposes.

Certain directors of the Company have purchased or acquired direction or control over a total of 150,000 Units in the Offering which 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"). Notwithstanding the foregoing, the directors of the Company have determined that the issuance of the Units is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 in reliance on the exemptions set forth in sections 5.5(a) and 5.7(1)(b) of MI 61-101.

Patrick Elliott, President and CEO of Forte Minerals, expressed his gratitude: "We are thankful for the overwhelming support from our shareholders, which reflects strong confidence in Forte's strategic vision and our exploration targets. This successful capital raise marks a significant milestone in advancing our projects towards discovery."

About Forte Minerals:

Forte Minerals Corp., a junior exploration company that has blended assets in partnership with GlobeTrotters Resources  Perú S.A.C., has built a robust portfolio of high-quality Cu and Au assets in Perú. The Company aims to generate significant value growth by strategically positioning   permitted and drill-ready projects alongside historically discovered copper and gold projects. Notwithstanding its resource discovery and development focus, Forte is deeply committed to community engagement, environmental stewardship, and fulfilling its societal responsibilities.


"/s/" Patrick Elliott
Chief Executive Officer

For further information, please contact:

Forte Minerals Corp.
(604) 983-8847



Certain statements included in this press release constitute forward-looking information or statements (collectively, “forward-looking statements”), including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.

Forward-looking statements are not a guarantee of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Factors that could cause the actual results to differ materially from those in forward-looking statements include the continued availability of capital and financing, and general economic, market or business conditions, including the effects of COVID-19. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the statements will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company’s forward-looking statements.

Neither the Canadian Securities Exchange (the “CSE”) 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.