• Binding commitments received for $3.5M placement from new and existing investors
• Funds will advance exploration activities and accelerate deeper drilling at Goongarrie Gold Project
• Cazaly's Managing Director to subscribe for $100,000 under the placement

Cazaly Resources Limited (ASX: CAZ) has announced that it has received firm commitments for a $3.5 million placement to fund accelerated exploration and drilling activities at its Goongarrie Gold Project in Western Australia. The placement will be issued to new and existing sophisticated and professional investors, with Cazaly's Managing Director subscribing for $100,000 worth of shares, subject to shareholder approval. The funds raised will increase Cazaly's cash reserves to approximately $5.6 million, positioning the company to advance an expanded reverse circulation (RC) drilling program and exploration activities at Goongarrie. The proceeds will be used to advance exploration activities, accelerate deeper drilling campaigns to expand known gold mineralization trends, and fund ongoing project-scale exploration to generate new gold targets. The placement was well supported, reflecting the growing recognition of the significant potential at Goongarrie and endorsement of the company's strategy to deliver value through disciplined exploration.

The company is excited for the future and the potential of the Goongarrie Gold Project, with the funds raised positioning Cazaly to advance its exploration and drilling activities.