• $2M placement to institutional and sophisticated investors
• Proceeds to support 12ktpa Rincon development and other strategic initiatives
• Placement priced at 2.5 cents per share, 11% premium to 15-day VWAP

Argosy Minerals Limited (ASX: AGY) has received firm commitments to raise $2 million (before costs) from new Australian and North American institutional and sophisticated investors at $0.025 per share ('Placement'). The Placement comprises the issue of 80,000,000 fully paid ordinary shares ('New Shares') and 1 attaching new option for every 2 shares issued under the Placement (Placement Options). The Placement issue price of 2.5 cents per share represents an 11% premium to the Company's 15-day volume weighted average price. The net proceeds from the Placement will be used for the ongoing 12ktpa Rincon engineering/optimisation and feasibility development works, strategic plans for the Tonopah Lithium Project in the USA, exploring other opportunities, working capital and corporate requirements. Argosy's Managing Director, Jerko Zuvela, stated that the Company is pleased to have received strong support from new high-quality investors, and that the Placement will provide important working capital to build momentum for the Rincon 12ktpa development and progress strategic opportunities, including at the Tonopah Project.

The Company will be looking to advance its projects, including the Rincon Lithium Project and Tonopah Lithium Project, at this critical time, benefiting from the resurgence in the EV/lithium sector.