Mineral Road Closes Flow Through Share Financing

Vancouver, December 19, 2024 - Mineral Road Discovery Inc. (CSE: ROAD) (the "Company" or "Mineral Road") announces that, further to its news release of December 12, 2024, it has closed its non-brokered private placement (the "Offering") and issued 5,291,667 flow through common shares ("FT Shares") at a price of $0.12 per FT Share for gross proceeds of $635,000. The FT Shares are subject to a four month hold period expiring April 20, 2025. The Company paid $38,100 in commission in connection with the Offering. 

The gross proceeds received by the Company from the Offering will be used to incur eligible "Canadian exploration expenses" (the "Qualifying Expenditures")on the Company's properties in Quebec that qualify as "critical flow-through mining expenditures" within the meaning of the Income Tax Act (Canada) and "flow through mining expenditures" as defined in the Taxation Act (Quebec). The Company will renounce the Qualifying Expenditures so incurred to the purchasers of the FT Shares with an effective date of no later than December 31, 2024.

This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the expected use of proceeds of the Offering, tax treatment and timing of renunciation of the Qualifying Expenditures and the receipt of any necessary regulatory approvals. Forward-looking statements can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans", or similar terminology. Forward-looking statements are made based upon certain assumptions and other important factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the tax treatment and timing of renunciation of the Qualifying Expenditures, the receipt of any regulatory approvals and anticipated costs. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking statements include, amongst others, currency fluctuations, the global economic climate, dilution, share price volatility and competition. Forward-looking statements are subject to known and unknown risks, uncertainties and other important 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, including but not limited to: risks that the tax treatment of Canadian exploration expenses and/or flow-through mining expenditures by regulatory authorities may change, risks regarding the timing of renunciation of the Qualifying Expenditures, the risk that any regulatory approvals may not be obtained, the impact of general business and economic conditions, risks related to operations, government and environmental regulation, conclusions of economic evaluations, fluctuation in foreign exchange rates and interest rates, stock market volatility, as well as those risk factors discussed in the Company's latest management discussion and analysis available at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, 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. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234583