Carnavale Resources Limited has completed an AU$2.2 million placement to expand its resources and continue exploration

Carnavale Resources Limited (ASX: CAV) secured commitments to raise AU$2.2 million by placing approximately 666.7 million fully paid ordinary shares at an issue price of AU$0.0033 per share. Initially targeted at AU$2.0 million, the strong support for the Placement led Carnavale to expand the offer to reach AU$2.2 million.

This impressive raise will bring new institutional, sophisticated, and professional investors to Carnavale's share register. With these additional funds and existing cash reserves, Carnavale is firmly positioned to execute its planned exploration strategy, which includes adding resource ounces to the Kookynie Gold Project through diamond and RC drilling. Furthermore, Carnavale remains committed to advancing the Mining License application for the Swiftsure deposit.

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