BPM Minerals secures funding for gold exploration

BPM Minerals Ltd (ASX:BPM) has successfully secured A$1.675 million through firm commitments from various professional, sophisticated, and institutional investors. The placement of 16,750,000 new fully paid ordinary shares at A$0.10 per share will primarily drive further aggressive exploration at the Claw Gold Project in Western Australia, particularly focusing on the recent Louie gold discovery and broader regional exploration activities.

Executive Commentary on Placement and Exploration Plans

We are pleased to announce the successful completion of a Placement to fund the next phase of drilling at the Claw Gold Project, which is rapidly emerging as a standout opportunity near Western Australia's next major gold mine. The initial intercept at the Louie Prospect underscores the significant value potential. With assays still pending from this zone, we are well-funded and ready to accelerate exploration to fully unlock the Claw Gold project's larger potential. The calibre of investors backing us reflects the strong optimism surrounding this project, and we look forward to advancing through good exploration.

Summary of Placement and Exploration Outlook

BPM Minerals' successful placement of A$1.675 million will primarily be utilized for ongoing drilling of the recent Louie Discovery in Western Australia and broader exploration activities at the Claw Gold Project. The company's focus on aggressive exploration and the upcoming 2,500m RC drilling at Louie, scheduled to commence in November/December 2024, demonstrates its commitment to unlocking the project's larger potential. With the broader regional exploration expected to commence early 2025, BPM Minerals is poised to uncover the full potential of the Claw Gold Project and drive its corporate strategy forward.