QMINES announces successful $5.0 million placement

QMines Limited (ASX: $QML) has successfully raised $5,000,000 through a two tranche placement, receiving significant support from both new and existing shareholders. The funds will be utilized to expedite exploration and development activities at the Company's Mt Chalmers and Develin Creek projects, as well as for the acquisition of the remaining Develin Creek project. The strong demand for the placement underscores the quality of the projects and the Company's growth strategy.

Executive Commentary on Placement and Growth Strategy

It is pleasing to see such strong demand for the placement which demonstrates the quality of QMines copper and gold projects and the Company's aggressive growth strategy. I want to sincerely thank new and existing shareholders for their support of our Company as we continue to demonstrate the exploration and development potential of the Mt Chalmers and Develin Creek projects. We wish to also thank our brokers, Whairo Capital and Wilsons Advisory, for their support. The submission of a Mining Lease application is a very exciting development for the Company. To get to this position within just over three years is a tremendous achievement by the QMines team. The recent Pre-Feasibility Study results on the Mt Chalmers deposit demonstrates a long life, low cost and high margin mining operation. The project has immediate and known upside with five additional deposits at the Mt Chalmers and Develin Creek projects that fall outside of the mining plan. The Company will shortly commence a large drilling program at its Develin Creek project where the Company has two high-grade copper-zinc deposits that has potential to grow the scale of a potential mining operation at Mt Chalmers.

Summary of QMINES Placement and Future Plans

QMines Limited (ASX: $QML) has successfully raised $5,000,000 through a strongly subscribed placement, reflecting the confidence of both new and existing shareholders in the Company's projects and growth strategy. The funds from the placement will be used to expedite exploration and development activities at the Mt Chalmers and Develin Creek projects, as well as for the acquisition of the remaining Develin Creek project. The Company's recent Pre-Feasibility Study results on the Mt Chalmers deposit demonstrate a long life, low cost, and high margin mining operation, with immediate and known upside potential. Additionally, a large drilling program at the Develin Creek project is set to commence shortly, targeting high-grade copper-zinc deposits that could further enhance the scale of potential mining operations at Mt Chalmers. QMines remains focused on making new discoveries, commercializing existing deposits, and transitioning towards sustainable copper and gold production.