• Firm commitments received to raise A$3.5 million
• Placement strongly supported by new and existing investors
• Proceeds to fund RC and aircore drill programs at Forelands Gold Project

BPM Minerals Ltd (ASX: BPM) has received A$3.5 million (before costs) in binding commitments for a placement of approximately 23.3 million new fully paid ordinary shares at A$0.15 per share to sophisticated, professional and institutional investors. The issue price represents a narrow discount of 9.4% to BPM's 5-day volume weighted average trading price, and a premium of 7.6% to the 30-day volume weighted average price. Funds raised from the placement will primarily be used to expand and accelerate RC and aircore drill programs at the Forelands Gold Project in Western Australia, as well as undertake geochemical surveys across the project, and for general working capital purposes. The Forelands Gold Project is a district-scale, high-grade gold system situated along a major structural corridor on the Yilgarn-Albany Fraser margin, an analogous tectonic setting to the +8 Moz Tropicana gold deposit. The project has a strong pipeline of exploration targets, including the high-grade Beachcomber prospect where historical drilling has returned intercepts of up to 65.8 g/t gold. BPM is well-funded and ready to commence a 3,000m RC drill program at Beachcomber, with assay results expected in early 2026.

Following completion of the placement, BPM is well funded and ready to move fast to fully unlock the Forelands Gold Project's potential. The company plans to commence a 3,000m RC drill program at the high-grade Beachcomber prospect in the near-term, with assay results expected in early 2026. The company will also undertake geochemical surveying across several key prospects on the broader Forelands project.