Warriedar Resources Limited (ASX: WA8) (Warriedar or the Company) is pleased to advise that it has received firm commitments to raise A$4.0 million (before costs) via a placement of approximately 70.7 million fully paid ordinary shares (New Shares) at an issue price of A$0.057 per share (Placement).

HIGHLIGHTS:

• Firm commitments received for a A$4.0 million placement to sophisticated and institutional investors at an issue price of A$0.057 per share.
• Strong support received from both new investors and existing shareholders.
• Placement proceeds complement the upcoming receipt of A$2 million from recently announced sale of non-core Golden Range camp facility. Together with existing cash of A$3.6 million (as of 30 June 2024), Warriedar will have a strong cash position of approximately A$9.6 million post settlement of the Placement.
• Warriedar is well-funded to execute on growth-focussed exploration activities across its highly prospective Murchison tenure in Western Australia.
• Ongoing Reverse Circulation (RC) and diamond drilling of the 25km long ‘Golden Corridor’ scheduled through H2 CY2024.
• Updated Mineral Resource Estimate (MRE) for flagship Ricciardo deposit (Golden Range Project) targeted for Q4 CY2024.
• The Company’s current JORC MRE at Golden Range is 15.2Mt @ 1.7 g/t Au for 816Koz of contained gold (of which 412Koz is in the Measured and Indicated classifications)

The ongoing diamond tails drilling program at the Ricciardo and M1 deposits was recently expanded to 2,500m following the initial high-grade extensional successes reported from this drilling (refer WA8 ASX releases dated 19 July 2024 and 3 July 2024). Ricciardo and M1 both sit within the 25km-long ‘Golden Corridor’ at Golden Range, which hosts six discrete deposits (18 historic pits) that are all open at depth and possess immediate growth potential.

Warriedar Managing Director and CEO, Amanda Buckingham, commented:

“I would like to thank existing shareholders for their support as well as the range of new, high-quality investors that are set to enter the Warriedar register through the placement. We are now positioned to aggressively build on the emerging opportunity at our flagship Golden Range Project. We have a multitude of walk-up extensional targets to drill, with a focus on growing our resource base in the Murchison via the addition of high-quality, high- grade gold ounces.”

Placement Details

Warriedar will issue approximately 70.7 million New Shares under the Placement at an issue price of A$0.057 per share. This represents an 18.6% discount to Warriedar’s last closing price of A$0.07 per share on Thursday 25 July 2024.

The Placement will take place in a single tranche pursuant to the Company’s available placement capacity under ASX Listing Rule 7.1. New Shares issued under the Placement will rank equally with the Company’s existing fully paid ordinary shares on issue.

Settlement of New Shares is expected to occur on Monday 5 August 2024, with allotment to occur on Tuesday 6 August 2024.

Bell Potter Securities Limited (Bell Potter), Canaccord Genuity (Australia) Limited (Canaccord) and Argonaut Securities Pty Ltd (Argonaut) acted as Joint Lead Managers and Bookrunners to the Placement.

Use of Proceeds

Proceeds from the Placement are to fund further growth-focussed exploration drilling of Warriedar’s key project in the Murchison region of Western Australia, Golden Range.

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