Vancouver, British Columbia--(Newsfile Corp. - August 8, 2024) - Ramp Metals Inc. (TSXV: RAMP) ("Ramp Metals" or the "Company") is pleased to announce that, due to investor demand, the Company is increasing the size of its previously announced non-brokered private placement financing from $4,500,000 to approximately $4,900,000 (the "Offering"). The Offering is expected to be led by Eric Sprott and EarthLabs.

The issue price of the securities in the Offering, namely the common shares of the Company (the "Common Shares") and the charity flow-through Common Shares (the "CFT Shares"), is unchanged at $0.55 per Common Share and $0.78 per CFT Share.

As described in the Company's news release dated July 17, 2024, the proceeds from the issuance and sale of the CFT Shares will be used for exploration expenses at Ramp Metals' Rottenstone SW property in Saskatchewan and the proceeds from the issuance and sale of the Common Shares will be used for both exploration expenses and general working capital.

The CFT Shares will qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada).

The closing of the Offering remains subject to the approval of the TSX Venture Exchange, and all securities issued in connection with the Offering will be subject to a hold period in Canada of four months plus one day.

About Ramp Metals Inc.

Ramp Metals is a grassroots exploration company with a focus on a potential new Saskatchewan gold district. The Company currently has new high-grade gold discovery of 73.55 g/t Au over 7.5m at its flagship Rottenstone SW property. The Rottenstone SW property comprises of 32,715 hectares and is situated in the Rottenstone Domain.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding the completion of the Offering, the use of proceeds therefrom, and the Company's exploration activities.

These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: requirements for additional capital; future prices of minerals; changes in general economic conditions; changes in the financial markets and in the demand and market price for commodities; other risks of the mining industry; the inability to obtain any necessary governmental and regulatory approvals; changes in laws, regulations and policies affecting mining operations; hedging practices; and currency fluctuations.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.