Godolphin Resources (ASX: $GRL) Funding Announcement

Godolphin Resources Limited (ASX: $GRL) has received firm commitments to raise $550,000 through the issue of 18.3 million new fully paid ordinary shares and 18.3 million attaching options for no further consideration at an issue price of $0.03 per share. The company also plans to launch a non-renounceable entitlement offer to eligible shareholders to raise an additional $1.1 million on the same terms as the placement. The funds will be utilized for additional drilling at the Narraburra Rare Earth Elements project, finalizing the Scoping Study, and exploration at the company's adjacent tenements.

Godolphin Resources (ASX: $GRL) Managing Director's Comments

Managing Director Ms Jeneta Owens expressed, 'We are very pleased to have secured these new funds, which come immediately following the Company securing 100% of the Narraburra Rare Earth project. To date, Godolphin has delivered several milestones at the project and this new capital will provide the Company with the ability to undertake additional work to increase the existing Narraburra Mineral Resource and define a cost-effective development pathway for Narraburra, as well as unlock value from the adjacent exploration licences. I would like to take this opportunity to welcome new investors to the Company, as well as thanking existing shareholders for their ongoing support. We look forward to providing ongoing updates as work across the Company's project suite commences in the coming months.'

Godolphin Resources (ASX: $GRL) Funding Summary

Godolphin Resources Limited (ASX: $GRL) has successfully secured firm commitments to raise $550,000 through a cash placement and plans to launch a non-renounceable entitlement offer to eligible shareholders to raise an additional $1.1 million. The funds will be utilized for additional drilling at the Narraburra Rare Earth Elements project, finalizing the Scoping Study, and exploration at the company's adjacent tenements. The company's strategic focus on critical minerals and future metals through ongoing exploration and development of projects within NSW aligns with its ambitions to unlock the potential of its East Lachlan tenement holdings and increase the mineral resources of its advanced projects, representing a transformational stage for the Company and its shareholders.