Askari Metals (ASX: $AS2) completes AUD$1.6 million share placement

Askari Metals Limited (ASX: $AS2) has successfully completed a well-supported Share Placement, raising AUD$1.6 million at an issue price of A$0.065 per share. The Placement was strongly supported by existing and new shareholders, with Managing Director Gino D'Anna also participating. The funds raised will be allocated towards the continued exploration and development of the Uis Lithium Project in Namibia and the Company's planned expansion into uranium exploration in Tanzania.

Managing Director's Commentary on Share Placement

Managing Director Mr Gino D'Anna expressed gratitude to existing shareholders for their ongoing support and welcomed new investors to the company's register. He highlighted that the funds raised from the Placement will allow the Company to continue exploring the Uis Lithium Project in Namibia and expand its footprint for in-demand uranium in Southern Tanzania. Mr D'Anna emphasized that the capital will support the Company's goal to deliver a maiden resource during 2024 and conduct low-cost, high-impact exploration campaigns at the Matemanga Uranium Project. He also expressed enthusiasm for the upcoming period of growth for Askari.

Summary of Share Placement and Future Plans

Askari Metals (ASX: $AS2) has successfully completed a well-supported Share Placement, raising AUD$1.6 million to fund the continued exploration and development of the Uis Lithium Project in Namibia and the Company's planned expansion into uranium exploration in Tanzania. The Company aims to deliver a maiden resource during 2024 and conduct low-cost, high-impact exploration campaigns at the Matemanga Uranium Project. Askari Metals is actively engaged in due diligence to acquire further uranium projects in the emerging tier-1 uranium province in Southern Tanzania. Additionally, the Company is working on developing a spin-out divestment strategy for its Australian exploration portfolio, which contains prospective gold, copper, REE, and lithium projects.