Flynn Gold's Rights Issue Announcement

Flynn Gold Limited (ASX: $FG1) has announced a one-for-two renounceable rights issue at 3 cents per share to raise up to approximately $2.5 million. The issue, partially underwritten to $750,000, will provide eligible shareholders with one free attaching new option for every two new shares subscribed, with an exercise price of 7.5 cents and expiring 30 months from the date of issue. The funds raised will primarily be used to advance the Company's Trafalgar gold discovery in Northeast Tasmania.

Executive Commentary on Rights Issue

In very short time Flynn has advanced its Trafalgar discovery at its Golden Ridge Project in Tasmania from a one-hole intercept to a significant gold system with an open strike length of 400m and open depth of 350m. This fundraising is a major step forward in the value creation journey for the Company, and we look forward to continued shareholder support as we advance our exciting gold projects in northeast Tasmania. Funds will be applied primarily towards additional drilling at our Golden Ridge Project, with the aim of advancing our recent gold discoveries to the next level and delivering value for shareholders.

Summary of Flynn Gold's Rights Issue

Flynn Gold Limited (ASX: $FG1) has announced a one-for-two renounceable rights issue at 3 cents per share to raise up to approximately $2.5 million, partially underwritten to $750,000. The issue provides eligible shareholders with one free attaching new option for every two new shares subscribed, with an exercise price of 7.5 cents and expiring 30 months from the date of issue. The funds raised will be applied to exploration activities at the Company's projects in Tasmania and Western Australia, working capital requirements, and meeting the costs of the Offers. The Company aims to advance its recent gold discoveries and deliver value for shareholders through additional drilling at its Golden Ridge Project. Shareholders are encouraged to consider the prospectus in deciding whether to acquire securities under the Rights Issue.