Fuse Battery Metals Inc. Closes Private Placement for $644,560

Maple Ridge, BC, October 29, 2026 — Leads & Copy — Fuse Battery Metals Inc. has successfully closed its non-brokered private placement financing, raising gross proceeds of $644,560. The financing consisted of the issuance of 12,891,200 units at a price of $0.05 per unit. This private placement is subject to final acceptance by the TSX Venture Exchange.

Each unit comprises one common share of the company and one common share purchase warrant. These warrants grant the holder the right to acquire an additional common share at an exercise price of $0.05 per share for a period of five years following the closing date. Additionally, the company has issued 30,000 common shares as finder's fees, valued at $0.05 per share, pending regulatory approval.

Securities issued in connection with the private placement and finder's fees will be subject to a statutory hold period that expires on March 2, 2027, in compliance with Canadian securities laws. The company plans to allocate the proceeds from this financing towards pursuing strategic acquisition opportunities, evaluating potential transactions, supporting ongoing corporate operations, working capital needs, and future business initiatives.

Insiders of Fuse Battery Metals Inc. participated in the private placement by subscribing for 272,040 units, contributing $13,602 in gross proceeds. This participation is considered a related party transaction under Multilateral Instrument 61-101, and the company has utilized exemptions from formal valuation and minority shareholder approval requirements.

Fuse Battery Metals Inc. is a Canadian exploration company focused on identifying high-value metals crucial for battery manufacturing. The company trades on the TSX Venture Exchange under the symbol FUSE, with additional listings in the U.S. under OTC: FSBMF and in Germany as FRA: 43W3.

The company holds a 100% interest in its Glencore Bucke Property in Bucke Township, Ontario, which is adjacent to its Teledyne Cobalt Project. The Glencore Bucke Property is subject to a back-in provision, production royalty, and an off-take agreement. The Teledyne Property, also located near Cobalt, Ontario, is owned 100% by Fuse, subject to a royalty. The Teledyne Property shares south and west boundaries with claims that previously hosted the Agnico Mine.

The Glencore Bucke Property is situated near the former Agaunico Mine, which produced approximately 4,350,000 pounds of cobalt and 980,000 ounces of silver between 1905 and 1961. This production volume represents the largest cobalt output from the Cobalt Mining Camp. Production at the Agaunico Mine ceased in 1961 due to low cobalt prices and oversupply.

The Teledyne Property encompasses 16 patented mining claims and 46 unpatented mining claim cells. Over CAD$25 million, adjusted for 2020 inflation, has been invested in the Teledyne Property, establishing infrastructure that includes a development ramp and a decline shaft extending 500 feet parallel to the primary cobalt mineralized vein. The property is subject to a production royalty and an off-take agreement with Glencore Canada Corp. Glencore PLC is recognized as the world's largest cobalt producer. Historical data suggests that a significant portion of the Agaunico Mine's cobalt production was associated with structures extending south towards the Teledyne Cobalt Property's northern boundary. Mineralization was typically found within 125 feet above the Huronian/Archean unconformity, with stoping widths sometimes reaching 50 feet at the Agaunico Mine.

Source: Fuse Battery Metals Inc.