• Firm commitments received to raise A$65.0 million via a two-tranche placement
• Proceeds to fund exploration, evaluation, and development of Mandilla, Feysville, and Spargoville Gold Projects
• Placement well supported by existing and new domestic and international institutional investors

Astral Resources NL (ASX: AAR) has secured firm commitments to raise approximately A$65.0 million (before costs) via a placement for the issue of approximately 325 million new fully paid shares at an offer price of $0.20 per share. The placement was well supported, with strong demand received from highly regarded existing and new domestic and offshore institutional investors. Funds from the placement will be used to accelerate exploration and evaluation activities at the Mandilla, Feysville and Spargoville Gold Projects, south of Kalgoorlie in Western Australia, where the company has delineated a consolidated Mineral Resource base of 1.76Moz and consolidated Ore Reserves of 1.08Moz. A Definitive Feasibility Study (DFS) for the Mandilla Project is on-track for completion in the June 2026 Quarter, with proceeds of the placement also to be utilised for the advancement of infrastructure early-works and the procurement of long-lead items in respect of the Mandilla development. Together with potential revenue generated from the proposed early mining opportunity at Think Big, the placement funds are expected to underpin a significant portion of the equity funding component for the Mandilla Gold Project development, subject to a Final Investment Decision.

The company has not provided any specific forward-looking financial guidance in the announcement.

The company has not provided any detailed forward-looking outlook in the announcement, beyond stating that the placement funds will be used to accelerate exploration, evaluation, and development activities at the Mandilla, Feysville, and Spargoville Gold Projects.