Inomin Provides Update on Non-Brokered Private Placement

Vancouver, British Columbia--(Newsfile Corp. - May 22, 2024) - Inomin Mines Inc. (TSXV: MINE) ("Inomin" or the "Company") wishes to provide an update to its previously announced non-brokered private placement (the "Financing") of up to 10,000,000 units (the "Units") at $0.05 per Unit for gross proceeds of up to $500,000 (please see the Company's news release dated April 11, 2024 for further details). The Company further announces that it has received a 30-day extension from the TSX Venture Exchange (the "TSXV") to complete the Financing. Except for the extension of the Financing, the Company plans to proceed with the Financing as previously announced.

The Company will also make the Financing available to existing shareholders of the Company pursuant to British Columbia Instrument 45-534 - Exemption from Prospectus Requirement for Certain Trades to Existing Security Holders and similar instruments, orders and rules in Canada (the "Existing Shareholder Exemption") and certain non-accredited subscribers pursuant to British Columbia Instrument 45-536 - Exemption from prospectus requirement for certain distributions through an investment dealer and similar instruments, orders and rules in Canada (the "Investment Dealer Exemption"). In accordance with the requirements of the Investment Dealer Exemption, the Company confirms there is no material fact or material change related to the Company which has not been generally disclosed.

Pursuant to the Existing Shareholder Exemption, the Financing will be further made available to existing shareholders of the Company who, as of the close of business on May 21, 2024, held common shares of the Company (and who continue to hold such common shares as of the closing date). The Existing Shareholder Exemption limits a shareholder to a maximum investment of $15,000 in a 12-month period unless the shareholder has obtained advice regarding the suitability of the investment and, if the shareholder is resident in a jurisdiction of Canada, that advice has been obtained from a person that is registered as an investment dealer in the jurisdiction. If the Company receives subscriptions from investors relying on the Existing Shareholder Exemption exceeding the maximum amount of the Financing, the Company intends to adjust the subscriptions received on a pro rata basis.

Inomin intends to use the gross proceeds raised from the Financing for general working capital and to advance the Company's property interests, including initiatives to support follow-up drilling at the Company's Beaver-Lynx project where Inomin has made discoveries of magnesium plus nickel, chromium, and cobalt - all critical minerals. The Company's objective for the next drilling program at Beaver-Lynx is to delineate a maiden resource. Exploration including drilling at Beaver-Lynx, has identified multiple mineral exploration targets.

The Company may pay finders' fees comprised of cash and non-transferable Share purchase warrants in connection with the Financing, subject to compliance with the policies of the TSX Venture Exchange (the "TSXV"). All securities issued and sold under the Financing will be subject to a hold period expiring four months and one day from the date of issuance. Completion of the Financing and the payment of any finders' fees remain subject to the receipt of all necessary regulatory approvals, including the approval of the TSXV.

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 of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.

About Inomin Mines

Inomin Mines is focused on the identification, acquisition, and exploration of mineral properties with strong potential to host significant resources, especially critical minerals, as well as gold and silver projects. Inomin trades on the TSX Venture Exchange under the symbol MINE. For more information visit www.inominmines.com and follow us on Twitter @InominMines.

On behalf of the board of Inomin Mines:

Inomin Mines Inc.
Per: "John Gomez"
President and CEO

For more information please contact:

John Gomez
Tel. 604-643-1280
info@inominmines.com

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 release.

Cautionary Note Regarding Forward-looking Statements

This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, completion of the Financing, the use of proceeds from the Financing and the payment of finders' fees under the Financing.

In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company will receive the necessary regulatory approvals in respect of the Financing and that the Company will use the proceeds from the Financing as currently anticipated.

These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, the Company not receiving the necessary regulatory approvals in respect of the Financing; recent market volatility; the Company not using the proceeds from the Financing as currently anticipated; and the state of the financial markets for the Company's securities.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, 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 and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/210191