• Fully underwritten $1.5m share purchase plan
• Proceeds to fund further exploration at Mt Mackenzie gold and silver project
• Existing shareholders can apply for up to $30,000 worth of new shares

QMines Limited (ASX:QML) has announced a Share Purchase Plan (SPP) to raise $1.5 million (before costs) from existing eligible shareholders. The SPP will offer new fully paid ordinary shares to eligible shareholders at an issue price of $0.055 per share, without incurring brokerage or transaction costs. The proceeds, along with the recently announced $7.5 million placement, will be used to fund further exploration at the company's high-grade Mt Mackenzie gold and silver project, including new target generation, definition, and testing activities, as well as for general working capital. The SPP is fully underwritten to $1.5 million by Global ESG Investments Limited, subject to shareholder approval at the upcoming annual general meeting. Eligible shareholders, whose registered address is in Australia or New Zealand as at the record date of October 1, 2025, will be given the opportunity to apply for up to A$30,000 worth of new shares. The company may close the SPP offer early and/or scale back applications at its discretion.