Stuhini Announces Intention to Extend Warrant Expiration Dates

VANCOUVER, BC, August 1, 2024 /CNW/ – Stuhini Exploration Ltd. (“Stuhini” or the “Company“) (TSXV: STU) (OTCQB: STXPF) would like to publish this correction to a press release issued on July 31st2024. The original press release did not disclose the number of FT Warrants and NFT Warrants (as such terms are defined below) subject to the expiration date extensions, and that such expiration date extensions are subject to acceptance by the TSX Venture Exchange. See the corrected press release below.

Stuhini announces that it intends to extend the expiration date of previously issued common stock purchase warrants to purchase up to 1,663,817 common shares at an exercise price of $0.60 per share (the “FT Warrants“). The FT Warrants were issued in connection with a non-brokered private placement (the “FT offer“) of flow units (the “FT units“), each FT unit consisted of one flow-through common share and one-half FT warrant. The FT offering was closed in two tranches on August 4, 2022 And August 19, 2022with 1,071,250 FT Warrants expiring on January 1, 2019. August 4, 2024 and 592,566 FT Warrants expiring on August 19, 2024respectively.

The Company also intends to extend the expiration date of previously issued common stock purchase warrants to purchase up to an additional 596,250 shares of common stock at an exercise price of $0.60 per share (the “NFT Warrants“). The NFT Warrants were issued in connection with a non-brokered private placement (the “NFT offering“) of non-flow units (the “NFT units“), each NFT unit consists of one common share and one-half of one NFT warrant. The NFT offering was also closed in two tranches on August 4, 2022 And August 19, 2022with 77,500 NFT Warrants set to expire on March 15 August 4, 2024 and 518,750 NFT Warrants expiring on August 19, 2024respectively.

If accepted by the TSX Venture Exchange, the Company will extend the expiration date of the FT Warrants and the NFT Warrants issued under the August 4, 2022 And August 19, 2022 tranches to August 4, 2026And August 19, 2026respectively. All other terms and conditions of the FT Warrants and NFT Warrants remain unchanged. The extension of the expiration date in respect of the FT Warrants and the NFT Warrants is subject to acceptance by the TSX Venture Exchange.

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About Stuhini Exploration Ltd.
Stuhini is a mineral exploration company focused on the exploration and development of precious and base metal assets in the Western Canada and the southwest United StatesThe Company’s portfolio of exploration properties includes the flagship Ruby Creek Property, 14 km east of Atlin, BC; the Que Project, 70 km north of Johnson’s Crossing, Yukon; the South Thompson Nickel Project, 35 km northwest of Grand Rapids, Manitoba; the Big Ledge property, 35 miles south of Revelstoke, British Columbia; and the Lindsay Project in the southeast Arizona.

Neither 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 press release.

SOURCE Stuhini Exploration Ltd.

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