Millbank Announces Non-Brokered Private Placement

Vancouver, September 27, 2024 - Millbank Mining Corp. (TSXV: MILL) (the "Company" or "Millbank") is pleased to announce that it intends to complete a non-brokered private placement (the "Private Placement") of up to 9,090,910 ("Units") at a price of $0.33 per Unit to raise gross proceeds of up to $3,000,000.

Each Unit will consist of one common share of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one Common Share of the Company (a "Warrant Share") for a period of 24 months following the closing of the Private Placement at an exercise price of $0.50 per Warrant Share.

The Company plans to use the net proceeds of the Private Placement for general corporate purposes and working capital. Completion of the Private Placement is subject to certain conditions including the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. The Company may pay finder's fees in the amount of 6% cash and issue finder's warrants equal to 6% of the number of Units placed by such finder on all or a portion of the Private Placement. The finder's warrants will have the same terms of the Warrants forming part of the Units.

About Millbank Mining Corp.: Millbank Mining Corp. is a mineral exploration company currently focused on its Arthur Lake Copper project in British Columbia and Blakelock hydrogen project in Ontario.

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

When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although the Company believes, in light of the experience of their respective officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in the forward-looking statements and information in this press release are reasonable, undue reliance should not be placed on them because the parties can give no assurance that such statements will prove to be correct. The forward-looking statements and information in this press release include, amongst others, the Company's ability to complete the Private Placement on the terms proposed or at all and the use of proceeds of the Private Placement. Such statements and information reflect the current view of the Company. Such statements and information reflect the current view of the Company. There are risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.

Forward-Looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this news release, including, but not limited to the assumption that the TSX Venture Exchange will approve the Private Placement and the assumption that Company will be able to locate purchasers for the Private Placement.

These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including, but not limited to: the risk that the TSX Venture Exchange will not approve the Private Placement, the risk that the Company will not be able to locate suitable purchasers for the Private Placement, management's discretion to reallocate proceeds of the Private Placement and inherent risks associated with the mining industry and the results of exploration activities and development of mineral properties, stock market volatility and capital market fluctuations, general market and industry conditions, as well as those risk factors discussed in the Company's most recently filed management's discussion & analysis.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/224802