Smooth Rock Announces Non-Brokered Private Placement

Smooth Rock Ventures Corp. has announced a non-brokered private placement financing to raise up to $750,000 in gross proceeds. The offering consists of up to 3 million units priced at $0.25 per unit, with each unit comprising one common share and one warrant exercisable at $0.35 for 36 months. The warrants include an acceleration clause if the share price reaches $1.00 or higher for five consecutive trading days.

The financing proceeds will be deployed to advance exploration activities at the company's flagship Palmetto Gold Project and for general working capital requirements. The Palmetto project represents a significant asset for Smooth Rock, consisting of 116 unpatented mining claims covering 2,217 acres in Nevada's prolific Walker Lane mineral belt. The property has an established exploration history with previous work by major mining companies including Newmont Gold, Phelps Dodge Corp, Romarco Minerals, and ML Gold Corp.

The project's credentials are strengthened by a NI 43-101 compliant mineral resource estimation completed by WSP Canada Inc. in 2020. Historical exploration has identified bonanza-grade gold-silver veins, with the initial discovery hole drilled by Phelps Dodge in 1988 and subsequent drilling by Romarco Minerals between 1997-2002 confirming the mineralization potential. This financing positions Smooth Rock to capitalize on this established resource base and advance the project toward potential development.

The private placement remains subject to regulatory approvals including TSXV Exchange approval, with issued securities subject to a four-month statutory hold period. For a junior exploration company, securing three-quarters of a million dollars in financing provides meaningful runway to execute exploration programs and maintain operational momentum in the current market environment.