Aurum Lake Mining Corporation announced a non brokered private placement to issue 5,000,000 common shares at an issue price of CAD 0.40 per share for the gross proceeds of CAD 2,000,000 on November 8, 2023. The company will pay finder's fee consisting of a cash commission in the amount of 6% of the gross proceeds raised in the concurrent financing and compensation warrants equal to 6% of the aggregate common shares subscribed for by persons. The payment of the Cash Fee and the issuance of the finder's warrant will occur upon on completion of the transaction.

Each finder's warrant entitles the holder thereof to purchase one common share at an exercise price of CAD 0.40 per common share for a period of twenty-four months from the date of issuance of the respective finder's warrant. Completion of the transaction is subject to the satisfaction of the conditions of the Exchange including completion of the concurrent financing. Completion of the transaction is subject to the satisfaction of the conditions of the Exchange including completion of the concurrent financing.

Completion of the transaction is subject to a number of conditions, including, but not limited to, Exchange acceptance and, if applicable pursuant to Exchange requirements, majority of the minority shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.