Fidelity Minerals Announces Closing of First Tranche of Non-Brokered Private Placement Financing

(TheNewswire)

 Vancouver, BC, October 7, 2025– TheNewswire -Fidelity Minerals Corp. (TSX-V: FMN | FSE: S5GM | SSE: MNYC) (“Fidelity Minerals”or the “Company”) is pleased to announce that it hasclosed the first tranche of the non-brokered private placement (the“Private Placement”)previously announced in its News Releases dated September 17, 2025,and September 24, 2025. The first tranche comprises a total of13,500,000 units (each, a “Unit”) at CAD $0.10 per Unit for grossproceeds of CAD $1,350,000. Each Unit consists of one common share inthe capital of the Company (each, a “Share”) andone-half transferable common share purchase warrant, with each fullwarrant (each, a “Warrant”) exercisable into one additionalShare at a price of $0.20 per Share until October 7, 2027.

A strategic investor has purchased 3,500,000 Units inthe first tranche and is expected to purchase the remaining 1,500,000Units available in the Private Placement in the second tranche uponTSX-V approval.

The Company paid cash finder’s fees of $33,775 andissued 337,750 finder’s warrants to finders in connection with thefirst tranche Private Placement. Each warrant being exercisable topurchase one Common Share at a price of $0.20 until October 7,2027.

The securities issued pursuant to the Private Placementare subject to a four month hold period that expires on February 8,2026.

Of the total Units issued in the Private Placement,3,325,000 Units were subscribed by Lions Bay Capital Inc., a ControlPerson of the Company (the “Participating Insider”).The Participating Insider subscriptionconstitutes “related party transactions” within the meaning ofMultilateral Instrument 61-101 – Protection of Minority Securityholders inSpecial Transactions (“MI 61-101”). Theissuances to the Participating Insider are exempt from the valuationrequirement of MI 61-101 by virtue of the exemption contained insection 5.5(b) as the Shares are not listed on a specified market andfrom the minority shareholder approval requirements of MI 61-101 byvirtue of the exemption contained in section 5.7(a) of MI 61-101 inthat the fair market value of the consideration of the securitiesissued to the related party did not exceed 25% of the Company’smarket capitalization.

The Company intends to use the net proceeds of theFinancing to advance its Peruvian exploration and community relationprograms, and corporate working capital purposes.

The securities described herein have not been, and willnot be, registered under the United States Securities Act of 1933, asamended (the "U.S.Securities Act"), or any state securitieslaws, and accordingly, may not be offered or sold within the UnitedStates except in compliance with the registration requirements of theU.S. Securities Act and applicable state securities requirements orpursuant to exemptions therefrom. This press release does notconstitute an offer to sell or a solicitation to buy any securities inany jurisdiction.

About Fidelity Minerals Corp.

Fidelity Minerals Corp. has assembled a portfolio ofhigh-quality mining assets and is targeting large scale copper andgold and aims to delineate major deposits on these properties thatcould attract the interest of mid-tier and major mining companies. TheCompany is focused on progressing its most advanced project – LasHuaquillas, which is a gold, copper and silver in Northern Peru.Fidelity is also looking to opportunistically expand its projectportfolio with accretive acquisitions. The Company is backed by anexperienced management team with diverse technical, market, andcommercial expertise and is supported by committed, and sophisticatedinvestors focused on building long-term value.

On behalf of the Board of Fidelity Minerals.

Ian Graham

CEO and Director

Phone: 1-604-671-1353

Email: igraham@fidelityminerals.com

For more information, please visit the corporatewebsite at http://www.fidelityminerals.com or contact:

NEITHER THE TSXVENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM ISDEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTSRESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Forward-LookingStatement Cautions

This press release contains certain“forward-looking statements” within the meaning of Canadiansecurities legislation, including, but not limited to, statementsregarding the Financing is subject to regulatory approval, includingapproval of the TSX Venture Exchange; the Company’s plans withrespect to its resource projects and the timing related thereto, themerits of the Company’s projects, and the Company’s objectives,plans and strategies. Although the Company believes that suchstatements are reasonable, it can give no assurance that suchexpectations will prove to be correct. Forward-looking statements arestatements that are not historical facts; they are generally, but notalways, identified by the words “expects,” “plans,”“anticipates,” “believes,” “intends,” “estimates,”“projects,” “aims,” “potential,” “goal,”“objective,”, “strategy”, “prospective,” and similarexpressions, or that events or conditions “will,” “would,”“may,” “can,” “could” or “should” occur, or are thosestatements, which, by their nature, refer to future events. TheCompany cautions that forward-looking statements are based on thebeliefs, estimates and opinions of the Company’s management on thedate the statements are made and they involve a number of risks anduncertainties. Consequently, there can be no assurances that suchstatements will prove to be accurate and actual results and futureevents could differ materially from those anticipated in suchstatements. Except to the extent required by applicable securitieslaws and the policies of the TSX Venture Exchange, the Companyundertakes no obligation to update these forward-looking statements ifmanagement’s beliefs, estimates or opinions, or other factors,should change. Factors that could cause future results to differmaterially from those anticipated in these forward-looking statementsinclude the risk of accidents and other risks associated with mineralexploration operations, the risk that the Company will encounterunanticipated geological factors, or the possibility that the Companymay not be able to secure permitting and other agency or governmentalclearances, necessary to carry out the Company’s exploration plans,risks of political uncertainties and regulatory or legal changes inthe jurisdictions where the Company carries on its business that mightinterfere with the Company’s business and prospects. The reader isurged to refer to the Company’s reports, publicly available throughthe Canadian Securities Administrators’ System for ElectronicDocument Analysis and Retrieval (SEDAR+) at www.sedarplus.ca for amore complete discussion of such risk factors and their potentialeffects.

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