• Successful $409,000 Share Purchase Plan completed
• Funds to be used for gold exploration at Gidji JV Project
• Recent bedrock gold discovery at 8-Mile Dam prospect

Miramar Resources Ltd (ASX:M2R) has announced the successful completion of a Share Purchase Plan (SPP), raising $409,000 to fund ongoing gold exploration programmes. The SPP provided eligible shareholders the opportunity to apply for up to $30,000 of new shares in the company. The proceeds from the SPP will primarily be used for further exploration at Miramar's 80%-owned Gidji JV Gold Project, where the company has outlined a substantial amount of shallow supergene gold under the Gidji Paleochannel and recently announced the discovery of bedrock gold mineralisation along strike from Northern Star Resources Ltd's 314koz '8-Mile Dam' gold deposit. Miramar's Executive Chairman, Allan Kelly, stated that the company can now focus its finances on the highly prospective Gidji project, where they believe there are indications of an emerging gold camp in a prime location. The company also provided an update on its other exploration projects, including plans for geophysical surveys and further drilling at Gidji, the completion of an EIS co-funded detailed magnetic/VTEM survey at the Bangemall JV Project, and the initiation of a sale process for several non-core projects in the Eastern Goldfields region.

Miramar will focus its financial resources on advancing its highly prospective Gidji JV Gold Project, where the company believes there are indications of an emerging gold camp in a prime location. This includes plans for geophysical surveys and further drilling to follow up on the recent bedrock gold discovery at the 8-Mile Dam prospect.