$5.0m Placement to Fund Sybil Drilling and Liontown Au Study

• Firm commitments received for $5.0 million placement at $0.012 per share
• Funds to advance drilling and geophysical programs at Sybil epithermal Au targets and complete Liontown Au study
• Largest shareholder, Lion Selection Group Ltd, invested $1m and now holds 9.2% stake

Sunshine Metals Limited (ASX:SHN) has secured commitments for a $5.0 million (before costs) placement at an issue price of $0.012 per share to new and existing institutional and sophisticated investors. The largest shareholder, Lion Selection Group Ltd, has invested $1 million, increasing their stake to 9.2%. The funds raised will be used to rapidly advance drilling and geophysical programs at the Sybil epithermal gold targets and to complete the gold study at Liontown, part of the Ravenswood Consolidated Project. A diamond drill rig has been mobilized to Sybil with the first program set to commence in September 2025. At Liontown, metallurgical test work, a resource update, and preliminary design work are all planned for September 2025. The company also has a diamond drill rig turning at Liontown North, testing the prospective Liontown horizon. Sunshine's Managing Director, Dr Damien Keys, commented that the company is delighted with the strong support for the placement and welcomes new professional and sophisticated investors to the register.

The company has not provided any high-importance, price-sensitive forward-looking financial metrics in the announcement.

The company has a busy period ahead, including ongoing studies at Liontown, drilling at Sybil and Liontown North, and the release of metallurgy results and a resource upgrade at Liontown in September 2025.