• $45M raised via share placement at $0.58 per share
• Proceeds to advance Apollo Hill DFS, resource development, and exploration
• Strengthened balance sheet supports project development and growth

Saturn Metals Limited (ASX: STN) has received firm commitments to raise $45.0 million (before costs) via a share placement comprising approximately 77.6 million shares at an issue price of $0.58 per share. The placement was strongly supported by both existing and new shareholders, including domestic and offshore institutional and sophisticated investors. The proceeds from the placement will be used to advance the Apollo Hill Gold Project, including funding the Definitive Feasibility Study (DFS) targeted for the second half of 2026, resource development and near-mine exploration, as well as regional exploration across Saturn's tenement portfolio. The strengthened balance sheet will also enable the company to expand its team, capabilities, and operational systems as it progresses towards becoming a gold producer. The placement represents a 15.9% discount to the last closing price and a 5.7% discount to the 10-day volume-weighted average price. Petra Capital Pty Ltd and Canaccord Genuity (Australia) Limited acted as Joint Lead Managers and Joint Bookrunners to the placement.

The proceeds from the $45 million placement will be used to fund the Apollo Hill DFS, resource development, near-mine and regional exploration, and other project readiness activities over the next 12-18 months.

The successful capital raising provides Saturn Metals with a robust platform to advance the Apollo Hill Gold Project towards development and production, with a focus on unlocking the full value and potential of the project and the company's broader exploration portfolio.