Bastion Minerals (ASX: $BMO) Placement and Entitlement Issue Announcement

Bastion Minerals Limited (ASX: $BMO) has successfully completed a placement to raise A$500,000 before costs through a one-tranche placement, with a 1 for 3 free attaching option, along with an Entitlement Issue to raise up to A$1,500,000 before costs. The Placement was conducted at a price of $0.007 per share via a placement to sophisticated and institutional investors. The funds from the Placement and Entitlement Issue will be used for reconnaissance exploration, deposit modeling, project generation for drilling the ICE Copper Project, and drill preparation for ICE for JORC 2012 Resource calculation and upgrade in Canada, as well as geophysics to define targets for a drilling program and re-assaying of historical core for REE potential in Sweden.

Executive Commentary

The Company is pleased to have successfully completed the Placement and looks forward to utilizing the raised funds for advancing our projects in Canada and Sweden. The Entitlement Issue further demonstrates our commitment to the development of high-grade Canadian copper portfolio and Swedish REE/Copper projects. We believe that these initiatives will contribute significantly to the Company's growth and long-term value creation.

Summary of Bastion Minerals Announcement

Bastion Minerals Limited (ASX: $BMO) has successfully raised A$500,000 through a Placement and announced an Entitlement Issue to raise up to A$1,500,000. The Placement was conducted at a price of $0.007 per share with a 1 for 3 free attaching option, while the Entitlement Issue will offer 1 new Ordinary share for every 2.36 Ordinary shares held at an issue price of A$0.007, with a 1 for 3 free attaching option. The funds raised will be utilized for reconnaissance exploration, deposit modeling, project generation for drilling the ICE Copper Project, and drill preparation for ICE for JORC 2012 Resource calculation and upgrade in Canada, as well as geophysics to define targets for a drilling program and re-assaying of historical core for REE potential in Sweden. The Company's initiatives reflect its dedication to the development of its Canadian and Swedish projects, aiming to enhance shareholder value and contribute to its long-term success.