04:58 PM EDT, 07/08/2025 (MT Newswires) -- Mithril Silver and Gold ( MTIRF ) on Tuesday said it is seeking $10 million from a brokered private placement of shares.

The company said it is looking to place 27.77-million shares priced at $0.36 each, while its agents were also granted a 15% over-allotment option.

Proceeds will be used to accelerate exploration and drilling activity at the Copalquin district project in Durango State, Mexico, as well as for working capital and general corporate purposes.

Mithril shares closed up $0.02 to $0.43 on the TSX Venture Exchange.