Vancouver, British Columbia – February 24, 2021 – M. Maurice Giroux, President and CEO of Mosaic Minerals Corp.
(“Mosaic” or the “Company”) (CSE: MOC) is pleased to announce:
Private Placement Tranche I Closed
Mosaic has closed the first tranche of its a non-brokered private placement issuing 3,575,000 units for gross proceeds of
$286,000. Finder’s fees of $18,440 will be paid and 321,000 finder’s warrants will be issued to three arm’s length parties in
respect of tranche 1 of the financing. The finder’s warrants are exercisable at $0.15 per share for two years. All securities
issued are subject to an investment hold period expiring June 23, 2021.
On January 27, 2021 the Company announced a financing of up to 6,250,000 units at $0.08 per unit to generate gross
proceeds of up to $500,000. Each unit is comprised of one common share and one two-year share purchase warrant
exercisable at $0.15 per share. Gross proceeds with be used to advance the exploration of the Company’s properties in the
Chibougamau area, and for general working capital purposes.
About Mosaic Minerals
The Company holds three 100% owned claims blocks (Chrisafy, Philibert-1 and Opawica) in the Chibougamau mining district,
Nord-du-Québec, within the famous Abitibi Greenstone Belt that hosts Iamgold’s Nelligan and Monster Lake gold deposits
as well as the Northern Superior’s recent Lac Surprise discovery, a few kilometers to the north.
The Company also holds 100% in the 16 claim Canalask property (770 hectares) to the North West shore of Lake Dunphy
located 150 km NNW of Shefferville in SNRC 24B04. The Canalask Property hosts 2 well-documented multi-metallic showings
namely, the Canalask and the Lac Dunphy surface showing of copper, zinc, silver and gold.
About Mosaic Minerals Corporation
Mosaic Minerals Corp., founded in 2018, is a Canadian mineral exploration company focused on unlocking the potential of
former Stellar AfricaGold Inc. “Stellar” Opawica Gold Project (“Opawica”) which is located in Québec’s renowned and very
prolific Chibougamau mining district, Nord-du-Québec, within the famous Abitibi Greenstone Belt.
Mosaic is gold-focused concentrating its exploration efforts where the Company’s growth potential is the strongest. After
incorporation Mosaic acquired Stellar’s Opawica project in a 100% share deal. Mosaic then completed a Plan of Arrangement
with Stellar establishing a shareholder base of more than 1,000 new Mosaic shareholders. Since the acquisition Mosaic has
actively explored Opawica completing its Phase I exploration program at the end of 2019 with results that warrant advancing
with a Phase II program.
The technical content of this press release has been reviewed and approved by Éric Allard, an independent consultant and
a Qualified Person as defined in NI 43-101.