Announcement of non-renounceable pro-rata offer

Koonenberry Gold Limited (ASX: $KNB) has issued a Prospectus for a non-renounceable pro-rata offer to Eligible Shareholders of 6 New Shares for every 7 Shares held on the Record Date at an issue price of $0.014 each to raise up to approximately $1.65 million. The offer also includes 1 free attaching Quoted Option for every 2 New Shares issued. The Entitlement Offer is fully underwritten by BW Equities Pty Ltd and Baker Young Limited. The funds raised will be primarily used for exploration and drilling activities at the Bellagio Au Prospect and the Atlantis Cu-Au Prospect, as well as for general working capital and the costs of the Offers.

Executive Commentary on Entitlement Offer

The Company is pleased to announce the non-renounceable pro-rata offer to eligible shareholders. This offer presents an opportunity for shareholders to participate in the company's growth and development activities. The funds raised will be instrumental in advancing our exploration and drilling activities at the Bellagio Au Prospect and the Atlantis Cu-Au Prospect, which are key areas of focus for the company. We are committed to maximizing the potential of these prospects and delivering value to our shareholders. The underwriting of the offer by BW Equities Pty Ltd and Baker Young Limited provides a strong level of support and confidence in the company's future prospects.

Summary of Entitlement Offer and Outlook

Koonenberry Gold Limited (KNB) has announced a non-renounceable pro-rata offer to eligible shareholders, aiming to raise up to approximately $1.65 million. The offer includes 6 New Shares for every 7 Shares held on the Record Date at an issue price of $0.014 each, along with 1 free attaching Quoted Option for every 2 New Shares issued. The funds raised will primarily be utilized for exploration and drilling activities at the Bellagio Au Prospect and the Atlantis Cu-Au Prospect, as well as for general working capital and the costs of the Offers. The company's participation in the Federal Government's Junior Minerals Exploration Incentive (JMEI) scheme further underscores its commitment to advancing its exploration activities. Shareholders are encouraged to refer to the Prospectus and the personalized Application Form for detailed information and to consider participating in the Offers. The company's proactive approach to exploration and development, coupled with the strong support from underwriters, reflects its determination to achieve its strategic objectives and create value for its shareholders.