• Firm commitments received for A$32.6m placement at A$1.00 per share
• Proceeds to fund exploration at Nanadie Copper-Gold Project and Yarri Project
• Placement supported by new and existing institutional and sophisticated investors

Solstice Minerals Limited (ASX: SLS) has announced that it has received firm commitments for a A$32.6 million placement of approximately 32.6 million new fully paid ordinary shares at an issue price of A$1.00 per share. The placement was strongly supported by both existing shareholders and new, high-quality domestic and global institutional investors, including a number of North American-based specialist resources funds. The proceeds from the placement, together with the company's existing cash balance of approximately A$16.5 million, will be used to fund a comprehensive exploration program at the Nanadie Copper-Gold Project, including Phase 2 reverse circulation (RC) drilling, resource definition and step-out exploration, as well as associated diamond drilling, geophysical surveys, metallurgical testwork, and long-lead feasibility study items. The placement will also underpin ongoing gold exploration and targeting programs at the company's Yarri Project, as well as provide general working capital. Upon completion of the placement, Solstice Minerals expects to have cash reserves of approximately A$49.1 million (before costs).

The company is entering an exciting period, with an RC rig on its way to site and a diamond rig scheduled to arrive mid-month. Over the coming months, Solstice Minerals will continue to explore the open-ended high-grade mineralisation at the Nanadie Copper-Gold Project and look to materially expand the mineral resource over time.