• Firm commitments raised to fund aggressive drilling campaign at Leonora North and Kookynie/Leonora South
• Drilling to target resource growth and new gold discoveries along the Ursus Fault, with only ~3km of the ~12km corridor drill-tested to date
• Directors committed to subscribe $135,000, demonstrating strong alignment with the company's strategy

GoldArc Resources Limited (ASX:GA8) has received firm commitments to raise up to A$7.2 million (before costs) via a placement to sophisticated and professional investors. The funds will be used to accelerate exploration activities across the company's Leonora Gold Projects, targeting new gold discoveries. The placement is well supported by new and existing institutional investors as well as high net wealth individuals across Australia, New Zealand, Hong Kong and the UK. Directors have also committed to subscribe for $135,000, subject to shareholder approval, demonstrating their strong alignment with the company's strategy and success. The funds will be directed towards an aggressive drilling campaign across Leonora North and Kookynie/Leonora South, including RC drilling at the Mt Stirling S1-S7 prospect, the Yttria prospect, and the Chert prospect, as well as extending the Cosmopolitan gold system at Leonora South. GoldArc holds 100% of the Leonora North Gold Project, which covers ~12km of the Ursus Fault Line, with only ~3km drill-tested to date. The company's systematic soil sampling has defined five gold anomalies, with the S4 anomaly, which lies along the untested portion of the Ursus Fault, exhibiting a stronger geochemical signature than the soil anomaly that led to the original Mt Stirling discovery.

GoldArc's focus over the next 12 months is to accelerate exploration activities across its Leonora Gold Projects, targeting new gold discoveries and resource growth, particularly along the untested portions of the Ursus Fault at the Leonora North project.