Equity Placement Announcement

Turaco Gold Limited (ASX: $TCG) has received firm commitments to raise A$18 million through a strongly supported equity placement. The placement, which was overbid by well over two times, prioritized existing institutional and sophisticated investors. The proceeds will be utilized to accelerate drilling at the Afema Project in south-east Cote d'Ivoire with the aim to expedite a maiden JORC Resource estimate and continue its growth.

Managing Director's Commentary

This A$18 million raising places Turaco in an extremely well-funded position to accelerate drilling and unlock value of the incredibly exciting Afema Project in West Africa's premier jurisdiction of Cote d'Ivoire. The Afema Project covers an incredibly well mineralised gold system and is blessed with a long list of drill ready targets. We have two rigs operating on site now and this raising, along with existing cash, allows this work to continue and be accelerated. We are fortunate to continue to receive overwhelming support from our shareholders, for which we thank them, and welcome several leading Australian and European institutional investors as new shareholders.

Equity Placement Summary

Turaco Gold Limited (ASX: $TCG) has successfully raised A$18 million through a strongly supported equity placement, positioning the company in a robust financial position to accelerate the Afema Gold Project in Cote d'Ivoire. The placement, which was overbid by well over two times, saw the participation of existing institutional and sophisticated investors, as well as new Australian and European institutional investors. The proceeds from the placement will be utilized to expedite a maiden JORC Resource estimate and continue the growth of the Afema Project. The company's Managing Director expressed gratitude for the overwhelming support from shareholders and highlighted the exciting potential of the Afema Project in West Africa's premier jurisdiction of Cote d'Ivoire. The announcement signifies Turaco's strong financial position and its commitment to advancing its drilling activities and unlocking the value of the Afema Project.