Viridian Metals Announces $1.0 Million Private Placement

OTTAWA, Ontario, Aug. 24, 2026 (GLOBE NEWSWIRE) -- Viridian Metals Inc. (CSE: VRDN, OTCQB: VIRMF) (“Viridian” or the “Company”) is pleased to announce it intends to complete a non-brokered private placement (the “Private Placement”) consisting of the issuance of up to 2,222,222 units of the Company (each, a “Unit”) at a price of $0.45 per Unit, for aggregate gross proceeds to the Company of up to $1,000,000.

Each Unit will be comprised of one common share of the Company and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder to acquire one common share of the Company at an exercise price of $0.60 per share for a period of 24 months from the date of issuance.

“Viridian is entering an active period, with our 2026 drill program underway and drilling expected to continue at Kraken until November,” said Tyrell Sutherland, President and Chief Executive Officer of Viridian. “Our capital to date has been directed toward work on the ground. This financing is intended to fund our ongoing exploration and corporate programs and to broaden awareness of the Company among investors as that work progresses.”

The offering price of the Units was established in accordance with the policies of the Canadian Securities Exchange (the “CSE”). The Units will be offered pursuant to available exemptions from the prospectus requirements under applicable Canadian securities laws. The Private Placement is expected to close on or about August 31, 2026 and is subject to the acceptance of the CSE.

The net proceeds of the Private Placement are expected to be used for establishing an investor relations, corporate communications and market awareness budget, and for general corporate and working capital purposes. Viridian will announce any investor relations agreements entered into by it by further press release as required by the policies of the CSE.

All securities issued pursuant to the Private Placement will be subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws. The securities issued under the Private Placement will also be subject to an Exchange Hold imposed in accordance with section 6.1(4) of CSE Policy 6 – Distributions & Corporate Finance. The Company may pay finder’s fees in cash and securities to arm’s length finders engaged in connection with the Private Placement, in accordance with the policies of the CSE.

Certain directors, officers and other insiders of the Company may participate in the Private Placement. Any such participation will constitute a “related party transaction” under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company expects to rely on the formal valuation exemption in section 5.5(b) of MI 61-101, on the basis that the Company’s securities are not listed on a specified market for the purposes of that section, and on the minority approval exemption in section 5.7(1)(a) of MI 61-101, on the basis that, at the time the securities comprised in the Units are issued, neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the Private Placement insofar as it involves related parties exceeds 25% of the Company's market capitalization as determined in accordance with MI 61-101. The Company did not file a material change report in respect of the related party transaction at least 21 days before the expected closing date of the Private Placement, as the details of insider participation were not settled until shortly prior to closing and the Company wished to complete the Private Placement on an expedited basis.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Viridian Metals

Viridian Metals is a pioneer and leader in generative metal exploration with a focus on environmental responsibility and ethical practices. Founded with the intention of discovering new critical metals deposits with the potential to transform the metal supply chain. We leverage innovative technologies and methods to enhance efficiency and sustainability in jurisdictions eager to be leaders in supplying the energy transition. Viridian maintains expertise in a range of critical metals with a primary focus on copper, nickel and cobalt in the near term. Our commitment to integrity and transparency fosters strong partnerships with both local and global stakeholders.

Additional information is available under the Company’s profile on SEDAR+ at www.sedarplus.ca and on the Company’s website at www.viridianmetals.com.

For further information, please contact:

Viridian Metals Inc.
Tyrell Sutherland, Chief Executive Officer
Telephone: (613) 884-8332
Email: Info@viridianmetals.com

Not for distribution to U.S. news wire services or for dissemination in the United States

Neither 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.

Cautionary Statement Regarding Forward-Looking Information

This news release contains statements which constitute “forward-looking information” within the meaning of applicable Canadian securities laws, including, without limitation, statements regarding: the completion of the Private Placement, including the anticipated size, pricing, timing of closing and use of proceeds thereof; the number of Units to be issued; the receipt of the acceptance of the CSE in respect of the Private Placement; the participation of directors, officers and other insiders in the Private Placement and the availability of the exemptions under MI 61-101 relied on by the Company; the payment of finder’s fees; the application of hold periods and other resale restrictions to the securities issued under the Private Placement; the continuation of the Company’s 2026 drill program, including drilling at Kraken until November; and the Company’s business plans and exploration activities.

Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “believes”, or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information is based on the opinions, estimates and assumptions of management as of the date such statements are made. While the Company considers these assumptions to be reasonable based on information currently available, they may prove to be incorrect.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, but are not limited to: the failure to satisfy the closing conditions of the Private Placement, or to complete the Private Placement on the anticipated terms, size or timing, or at all; the failure to obtain the acceptance of the CSE; the expiry of the Company’s price protection in respect of the Private Placement prior to closing; the unavailability of the exemptions from the formal valuation and minority approval requirements of MI 61-101 relied on by the Company; the inability to raise sufficient capital to fund the Company’s planned exploration and corporate programs; risks inherent in mineral exploration, including that exploration results may not meet expectations; changes in capital markets and general economic conditions; and the other risk factors disclosed in the Company’s public filings under its profile on SEDAR+ at www.sedarplus.ca. Forward-looking information contained in this news release is made as of the date of this news release and, other than as required by law, the Company disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or otherwise. Readers should not place undue reliance on forward-looking information.