Goldflare Exploration Inc. announced that it has completed a flow-through private placement of 5,625,000 flow-through shares at a price of CAD 0.08 per common share to eligible investors for total gross proceeds of CAD 450,000 on December 22, 2022.No insider participated to this placement and CAD 27,000 intermediary fees were engaged. The offering is subject to final approval from the TSX Venture Exchange. The securities to be issued will be subject to a minimum holding period of four months plus one day.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from three placees.