Completion of $1.2 Million Capital Raising

• $1.2 million capital raising completed
• Diamond drilling rig mobilizing to site
• Drilling to follow up recent high-grade C4 lode discovery

Nagambie Resources Limited (ASX: NAG) has announced the completion of a $1.2 million capital raising (before costs) for continued drilling at the 100%-owned Nagambie Mine and updating of the current JORC Mineral Resource Estimate (MRE). A diamond drilling rig is being mobilized to site this week, with the first drillholes set to follow up on the recent exciting C4 lode discovery which returned 7.3m at 40.5 g/t gold equivalent (7.0% antimony, 1.8 g/t gold) from 154m. The current JORC Inferred Resource figures stand at 539,000 tonnes, with 58,000 oz gold, 20,800 tonnes antimony, and 322,000 oz gold equivalent. The MRE will be progressively updated as new drill results are received and evaluated by the Competent Person.