We're raising up to approximately $3.04 million through a renounceable rights issue, giving eligible shareholders in Australia and New Zealand the chance to buy one new share for every three they hold, at 1.5 cents each. Every two new shares come with one free option, exercisable at 3 cents within 30 months.

The offer is partially underwritten by Mahe Capital for $1,500,000, so at minimum we expect to raise that amount, subject to the underwriting agreement not being terminated. All of our directors have indicated they intend to take up all or most of their entitlements, and Lowell Resources Fund has agreed to participate for $200,000.

The funds are earmarked primarily for resource definition drilling at Golden Ridge, completing the maiden Mineral Resource estimate at Firetower, and general working capital and costs of the offer.

If you're an eligible shareholder, you can take up all or part of your entitlement, apply for extra shares through the shortfall offer, sell your entitlement on market, or do nothing and let it lapse. Not taking up your full entitlement will dilute your holding, and the extent of that depends on how much of the raise is ultimately taken up.

The offer price sits at a discount to recent trading levels, and the new shares and options carry the risks set out in the prospectus, including exploration, tenement, funding and market risks. These securities are considered highly speculative, and the underwriting agreement can be terminated in a number of circumstances detailed in the document.

The offer closes at 5:00pm (Melbourne time) on Friday, 16 October 2026, unless dates change. We'd encourage you to read the full prospectus before deciding whether to participate, and if you have questions about this announcement, we welcome you to send them through.