Kingman Minerals Ltd. announced a non-brokered private placement of 3,500,000 units at a price of CAD 0.10 per unit for the gross proceeds of CAD 350,000 and 4,567,250 common shares at a price of CAD 0.10 per share for gross proceeds of CAD 456,725; for aggregate gross proceeds of CAD 806,725 on January 17, 2023. Each unit will be comprised of one common share and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share of the company at an exercise price of CAD 0.12 per common share, for a period of 5 years from the date of closing of the transaction.

No finder's fees are payable in connection with the transaction. Closing of the transaction is subject to all applicable regulatory approvals, including the approval of the Exchange. All securities are subject to a hold period of four months and one day in accordance with applicable securities laws.

The TSX Venture Exchange has accepted for filing documentation with respect to anon-brokered private placement. The transaction included participation from 16 placees including existing insider involvement of two insiders for 200,000 and pro group involvement of four insiders for 225,000.