Haranga Secures AU$2.86 million for Uranium Project Expansion

Haranga Resources Ltd (ASX: HAR) has successfully secured AU$2.86 million in funding from sophisticated, professional, and institutional investors. The capital will be used to support drilling activities at the Saraya uranium project in Senegal. This project aims to extend the existing JORC mineral resource of 12.5 million tonnes at 587 ppm eU3O8 (equivalent to 16.1 million pounds of uranium). The company has received significant support from existing shareholders, including Jason Peterson, who committed over AU$300,000 to the placement. New institutional investors are also joining the company's register.

Haranga's Saraya deposit is the first of seven prospects identified, with potential for further expansion through additional drilling. The company has employed innovative techniques, such as termite mound sampling, to identify anomalies over a 25km strike. Additionally, Haranga has a gold prospect, the Ibel South project, located in Senegal, which is also undergoing exploration efforts. The placement will be settled in two tranches, with the first expected to raise approximately AU$1.65 million and the second, subject to shareholder approval, targeting around AU$1.21 million. These funds will support ongoing exploration, drilling, and potential acquisition opportunities, further advancing the company's projects.

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