Golden Mile Resources Ltd Announces Capital Raise for Expedited Drilling Programs

Golden Mile Resources Limited (ASX: G88) has successfully raised AU$1,890,409 (before costs) through a recent capital raise at an issue price of AU$0.044 per share. The Placement received strong support from existing shareholders, sophisticated investors, and the Company's new cornerstone investor, Rajiv Ramnarayan of Equentia Natural Resources. The funds raised will be utilized to accelerate drill programs at Quicksilver and Yuinmery, as well as to advance the Quicksilver Oxide works.

A total of 42,963,848 shares will be issued at a price of (AU$0.044) per share, representing a 17% discount to the 15-day Volume Weighted Average Price (VWAP) of AU$0.053. The proceeds from the Placement will be allocated towards exploration activities for Quicksilver's primary targets, including rare earth elements (REE) and disseminated nickel, exploration at the promising Yuinmery targets, Quicksilver Oxide advancement, and working capital purposes. The shares issued will have equal ranking with existing fully paid ordinary shares, and settlement of the Placement is anticipated to take place on June 26, 2023.

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