Copper Search funding announcement

Copper Search Ltd (ASX: $CUS) has successfully secured commitments to issue 20 million fully paid ordinary shares at an issue price of 10 cents per share, raising $2 million for its Peake Project Winter Drilling Program in South Australia. The private placement, targeted at sophisticated, professional, and institutional investors, also includes one unquoted option for every two shares issued, with an exercise price of 15 cents and expiring in three years. The proceeds will primarily be used for the winter drilling program at the Paradise Dam and Douglas Creek Prospects, regional exploration, working capital expenses, and business development. GBA Capital Pty Ltd is acting as the lead manager for the offer, and the required Appendix 3B will be lodged in parallel to this announcement.

Executive commentary on funding and drilling program

The successful completion of the private placement demonstrates strong support from sophisticated, professional, and institutional investors for our Peake Project Winter Drilling Program. The funding will enable us to conduct a focused six-week diamond drill core program at the Paradise Dam and Douglas Creek Prospects, aiming to test for large-scale copper deposits. We are also committed to regional exploration, including the assessment of gold prospectivity at the Mt Denison claim within the Peake Project. This financial support will further our business development and general working capital needs, positioning us for continued growth and exploration success.

Summary of Peake Project Winter Drilling Program

Copper Search Ltd (ASX: $CUS) has successfully raised $2 million through a private placement to fund its Peake Project Winter Drilling Program in South Australia. The program will focus on a six-week diamond drill core program at the Paradise Dam and Douglas Creek Prospects, with the aim of testing for large-scale copper deposits. Additionally, the company plans to conduct regional exploration, including the assessment of gold prospectivity at the Mt Denison claim within the Peake Project. The funding will also support business development and general working capital needs. The successful completion of the private placement reflects strong investor confidence in Copper Search's exploration and development activities, positioning the company for continued growth and success in its strategic initiatives.