Firm Commitments Received for a A$3.0M Placement

• Firm commitments received to raise ~A$3.0M via placement of 86.4M new shares
• Strong support from existing and new institutional/sophisticated investors
• Funds to be used for drilling, exploration, and general working capital

Buxton Resources Ltd (ASX: BUX & BUXO) has announced that it has received firm commitments to raise approximately A$3.0 million (before costs) via a placement of approximately 86.4 million fully paid ordinary shares ('New Shares') at an issue price of A$0.035 per New Share. The placement comprises an unconditional placement of approximately A$2.9 million via the issue of 83,421,316 New Shares to institutional and sophisticated investors, and a conditional placement of A$105,000 through the issue of 3.0 million New Shares to two directors, subject to shareholder approval. The offer price represents a discount of 16.7% to the last closing price, 12.4% to the 5-day VWAP, and 14.6% to the 15-day VWAP. The placement was strongly supported by both new and existing institutional and sophisticated investors, with demand exceeding the targeted raise. Proceeds from the placement will be used to advance drilling and exploration at the company's Australian projects, including Madman, Lateron, Centurion, and Montello, as well as for ongoing project evaluation activities and general working capital.

The funds raised will allow Buxton Resources to immediately accelerate exploration activities in Australia, with the maiden drilling program at Madman ready to commence as soon as weather and access conditions permit.