• Raised $1,302,000 via placement of 124,000,000 shares at $0.0105 per share
• Funds to be used for maiden diamond drilling campaign at Zopkhito Project
• Additional in adit drilling and geophysical surveys planned

Krakatoa Resources Limited (ASX: KTA) has received firm commitments to raise $1,302,000 (before costs) via a placement of 124,000,000 ordinary shares at an issue price of $0.0105 (1.05c) per share. The funds raised will be used towards the maiden diamond drilling campaign at the Zopkhito Project, scheduled to commence in July for a proposed 7,000-10,000m drilling program; additional in adit drilling with the objective of intersecting the high-grade antimony veins and gold rich alteration halo; and geophysical surveys to assist with detecting extensions of the current foreign resource estimate (225Kt @ 11.6% Sb for a contained 26,000 tonnes of Sb and 7.1Mt @ 3.7g/t for 815,119oz of Au). The placement was strongly supported, reflecting growing recognition of the significant potential of the Zopkhito Antimony-Gold Project. The Board of Directors intend to participate in the Placement, which will be subject to shareholder approval. The Company will pay a 6% capital raising fee on the funds raised.

The funds raised will be used towards the maiden diamond drilling campaign at the Zopkhito Project, scheduled to commence in July, as well as additional in adit drilling and geophysical surveys. This marks a key step forward for the Company's aim of converting the current foreign antimony and gold resource into a JORC-compliant resource.