Mithril Silver and Gold Secures AU$12.5 Million to Accelerate Drilling and Expansion at Copalquin Project

Mithril Silver and Gold Limited (ASX: MTH) has secured AU$12.5 million through a placement at AU$0.50 per share, with support from new and existing investors, including Jupiter Gold and Silver Fund (16% stake) and the 1832 Fund (8%). The capital will boost the company’s cash reserves to approximately AU$18 million and enable Mithril to quadruple its drilling efforts in 2025, targeting 40,000 meters.

This expansion aims to significantly enhance the 529,000-ounce gold-equivalent resource at the Copalquin District in Mexico. Road upgrades to support the exploration will be completed by Q1 2025. Mithril remains focused on advancing geologic models and identifying additional resource targets to unlock the district’s potential within the Sierra Madre Gold-Silver Trend. Director and shareholder approvals for the placement are expected at an upcoming EGM.

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