Adelphi Metals Inc. Completes Initial Public Offering And Lists On The Canadian Securities Exchange

Vancouver, Nov. 13, 2024 - Adelphi Metals Inc. (the "Company") (CSE: ADP) is please to announce that on November 13, 2024, it has completed its initial public offering ("IPO") of common shares of the Company (“Common Shares”) under the Company’s final prospectus dated August 16, 2024 (the “Final Prospectus”), pursuant to an agency agreement dated August 16, 2024 (the “Agency Agreement), between the Company and Ventum Financial Corp. (the “Agent”). A total of 3,500,000 Common Shares at a price of $0.10 per share were sold pursuant to the IPO, for gross proceeds of $350,000.

The net proceeds from the IPO will be used for working capital purposes and to carry out exploration of the Company's Triple R property situated in six kilometres east of Beaverdell and forty-eight kilometres north of Rock Creek, in the Greenwood Mining Division, British Columbia.

Pursuant to the Agency Agreement, the Agent received a cash commission equal to 10% of the gross proceeds of the IPO and a corporate finance fee. Additionally, the Company granted the Agent, and its selling group, compensation options entitling the holders to purchase an aggregate of 350,000 shares at a price of $0.10 per share, exercisable on or before November 13, 2027.

The shares were approved for listing on the Canadian Securities Exchange on November 12, 2024, and are expected to begin trading on November 15, 2024, under the symbol ADP.


About Adelphi Metals Inc.

Adelphi Metals Inc. is engaged in the business of mineral exploration and the acquisition of mineral property assets in Canada. Its objective is to locate and develop economic precious and base metal properties of merit and to conduct its exploration program on the Triple R property. The Triple R property is situated six kilometres east of Beaverdell and forty-eight kilometres north of Rock Creek, in the Greenwood Mining Division, British Columbia.


ON BEHALF OF THE BOARD

“Mike England”
Mike England, CEO & Director



FOR FURTHER INFORMATION PLEASE

Adelphi Metals Inc.
Mike England, CEO & Director
Telephone: 1-604-683-3995
Email: mike@engcom.ca



Forward-Looking Statements:

This news release includes certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the commencement of trading of the Company's common shares on the Canadian Securities Exchange, future capital expenditures, anticipated content, commencement, and cost of exploration programs in respect of the Company's projects and mineral properties, anticipated exploration program results from exploration activities, resources and/or reserves on the Company's projects and mineral properties, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as "pro forma", "plans", "expects", "will", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that market fundamentals will result in sustained precious and base metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration of the Company's properties, the availability of financing on suitable terms, and the Company's ability to comply with environmental, health and safety laws.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, statements as to the anticipated business plans and timing of future activities of the Company, including the Company's option to acquire the Triple R property, the proposed expenditures for exploration work thereon, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals (including of the Canadian Securities Exchange), permits or financing, changes in laws, regulations and policies affecting mining operations, risks relating to epidemics or pandemics, financial condition and results of operations, the Company's limited operating history, currency fluctuations, title disputes or claims, environmental issues and liabilities, as well as those factors discussed under the heading "Risk Factors" in the Company's Final Prospectus dated August 16, 2024, and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company's profile on SEDAR+ website at www.sedarplus.ca.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this news release except as otherwise required by law.