Capital Raising to Progress Bangemall Exploration and Drilling

Miramar Resources Limited (ASX:M2R, “Miramar” or “the Company”) is pleased to advise it has received firm commitments from new and existing sophisticated investors to raise approximately $546,600 (before costs) by way of a placement of shares and announces a non-renounceable rights issue for eligible Shareholders.

• Firm commitments for a $546,600 Placement to sophisticated investors.
  
• Non-Renounceable Rights Issue announced for eligible shareholders.
• Funds to be used for Bangemall Ni-Cu exploration and proposed drilling, exploration at the Gidji JV gold project and working capital.

Miramar’s Executive Chairman, Mr Allan Kelly, said that funds raised under the placement and non- renounceable rights issue will be allocated to upcoming exploration programmes at the Company’s 100%- owned Bangemall Ni-Cu-Co-PGE projects in the Gascoyne region of WA, the 80%-owned Gidji JV Gold Project and potential corporate activities.

“Over the last 24 months, the Company has progressed the Bangemall Projects from regional-scale area selection to collection of project-scale datasets and, more recently, to delineation of individual drill targets,” Mr Kelly said.

“We have a very exciting opportunity at Bangemall to make a discovery of a new style of nickel-copper- cobalt and PGE mineralisation in a new geological province,” he added.

“I would like to thank the existing and new sophisticated investors who participated in the placement, encourage existing shareholders to participate in the rights issue and look forward to the maiden drilling programme in the Bangemall, whilst progressing our other projects,” he said.

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