Highlights

• One-for-three Renounceable Rights Issue to raise up to $3 million.

• Underwritten to $1.5 million by Mahe Capital.

• Mr Colin Bourke, company’s major shareholder, has agreed to sub-underwrite $500,000 of the underwritten amount

• Issue attractively priced at 2.3 cents per share.

• Discount of 18% to the last price of 2.8 cents.

• For every two New Shares, Eligible Shareholders will receive one free attaching New Option.

• New Options will have an exercise price of 4 cents and term of 30 months from the date of issue. The New Options are proposed to be listed.

• Eligible Shareholders can trade their rights and apply for additional shares and options.

• Rights to commence trading from 15 September 2025.

• Funds to be used to advance the Company’s drilling program at Golden Ridge and elsewhere in Tasmania.