NVRO Metals Limited Completes $35 Million Private Placement

NVRO Metals Limited (TSXV: NVRO) completed a private placement for gross proceeds of $35 million, including participation from strategic investors Hecla Mining Company, Transamine SA and KEWA Financial Inc.

The offering was completed in connection with the proposed acquisition by NVRO Metals of Northern Territories Resources Pty Ltd., the owner of the site of the NVRO Metals Hub, which is expected to close on or about November 13, 2026. Completion of the acquisition positions the NVRO Metals Hub, NT to host the planned first industrial deployment of the NVRO Process™. The private placement was conducted by ATB Cormark Capital Markets and Cantor Fitzgerald Canada Corporation, as co-lead agents and joint bookrunners.

In conjunction with the offering, NVRO Metals entered into an agreement with Hecla for the purchase by NVRO Metals of tailings from Hecla’s Greens Creek mine in Alaska for processing at the NVRO Metals Hub, NT. The Greens Creek Supply Agreement has an initial term of five years from the first shipment of tailings and provides for a committed quantity of up to 750,000 tonnes per year. In addition, NVRO Metals entered into a binding offtake and prepayment agreement with Transamine for 100% of the copper cathode to be produced at the NVRO Metals Hub, NT from the oxide deposits enabling a day 1, fully funded near-term production. Transamine will provide a prepayment debt facility of up to US$10,000,000 to be used for the commissioning activities toward copper cathode production. In addition, Transamine will provide a working capital facility of up to US$5,000,000 to be used for general working capital and commissioning activities. These facilities provide the capital that NVRO Metals expects to be required to bring the copper cathode into production.

NVRO Metals is a clean technology company focused on the recovery of precious, base and critical metals from refractory sulfidic ores, concentrates and tailings. Its proprietary NVRO Process™ is a catalyzed hybrid acid leach that operates at low temperature and near atmospheric pressure, using nitric acid in catalytic quantities to break sulfide bonds and liberate contained metals, with continuous regeneration and recycling of reagents. NVRO Metals is advancing the NVRO Metals Hub in the Northern Territory, Australia, alongside client programs and partnerships internationally.

Wildeboer Dellelce LLP acted as Canadian counsel to NVRO Metals in connection with the offering and related agreements with a team comprised of Marcus Hinkley, Michael Rennie, Niall Sweeney, Kyra Flomen, Ella Rowley, and Allyson Hamilton (corporate finance and securities/mining, energy and natural resources).