Augustus Minerals Limited raises $1.66m for exploration at Ti-Tree

Augustus Minerals Limited (ASX: $AUG) has successfully raised $1,667,500 through a Placement, receiving commitments from institutional, professional, and sophisticated investors. The funds will be used to accelerate exploration activities at the Ti-Tree project, including deep diamond drilling, VTEM helicopter program testing, expanded soil and rock chip sampling, and extensive field work over the large Supergene Carbonate hosted Munaballya Well Uranium Target.

Executive Commentary on Placement and Exploration Plans

The Augustus Board are very pleased with the overwhelming support for the placement and thank existing and new sophisticated investors for their support that positions the Company to advance exploration at the Ti-Tree project. The heavily oversubscribed placement demonstrates the strong interest in the EIS Supported drill program at the Minnie Springs Cu-Mo Porphyry system as well as continued exploration at the recently discovered Tiberius, Claudius, Justinian, and South Snowy gold-copper-gold-silver prospects. The next six months will be an exciting period of exploration activity for the Company and the team are looking forward to the results.

Summary of ASX Announcement

Augustus Minerals Limited has successfully raised $1.66m through a Placement, with the funds earmarked to accelerate exploration activities at the Ti-Tree project. The placement, oversubscribed and supported by institutional, professional, and sophisticated investors, reflects strong interest in the Company's exploration plans. The upcoming exploration activities include deep diamond drilling at the Minnie Springs Cu-Mo Porphyry system, VTEM helicopter program testing, expanded soil and rock chip sampling, and extensive field work over the large Supergene Carbonate hosted Munaballya Well Uranium Target. The Company's focus on critical minerals vital for electric vehicles and renewable energy, coupled with its experienced leadership, positions it for an exciting period of exploration activity in the next six months.