Sierra Nevada Gold (ASX: $SNX) Placement Announcement

Sierra Nevada Gold Inc (ASX: $SNX) has successfully secured firm commitments to raise approximately A$2.6 million through a Placement at A$0.056 per CDI. The Placement, which received strong support from existing shareholders and institutional investors, is intended to fund exploration activities at the Blackhawk Epithermal Silver Project in Nevada, USA, and cover working capital and associated costs with Joint Venture negotiations for SNX's existing projects.

Executive Commentary on Placement

Support for this placement was overwhelming, and we thank our new and existing shareholders for sharing our confidence in the quality of our project portfolio. We are pleased to have secured approximately $2.6 million to advance exploration at our projects in Nevada, particularly at our Blackhawk Epithermal Project, where we plan to follow up high-grade silver intercepts up to 1270 g/t Ag. Completing this Placement marks an exciting time for SNX, particularly given the growing market interest in silver, and we believe that further exploration at Blackhawk has the potential to return further high-grade results and become a company-making discovery.

Summary of Sierra Nevada Gold (ASX: $SNX) Placement Announcement

Sierra Nevada Gold Inc (ASX: $SNX) has successfully secured a $2.6 million Placement, with strong support from existing shareholders and institutional investors. The funds raised will be utilized to advance exploration at the Blackhawk Epithermal Silver Project in Nevada, USA, which has shown high-grade silver intercepts up to 1270 g/t Ag. The company aims to follow up on these intercepts and believes that further exploration at Blackhawk has the potential to yield significant results. Additionally, SNX has commenced a strategic review to evaluate options for its assets to maximize value for shareholders, indicating a proactive approach towards enhancing shareholder value.