$1.25M Placement to Advance Gidji JV Gold Project

Key points

• $1.25M placement to fund drilling and development at Gidji JV Gold Project
• RC drilling planned for Marylebone and Lake prospects in Q4 CY2026
• Directors committed $250,000 subject to shareholder approval
• Placement priced at $0.00175 per share, a 12.5% discount to recent prices

Full summary

Miramar Resources Limited (ASX:M2R) has secured firm commitments to raise $1.25 million (before costs) for drilling and development activities at its 80%-owned Gidji JV Gold Project. The funds will be used for Reverse Circulation (RC) drilling targeting key bedrock gold targets at the Marylebone and Lake prospects and for resource extensional drilling at Highway and Marylebone deposits. The placement is priced at $0.00175 per share, a 12.5% discount to recent prices, and includes commitments from both new and existing investors. Directors have also committed $250,000, subject to shareholder approval at the Annual General Meeting in mid-November 2026.

Guidance

Miramar Resources Limited has secured $1.25M placement to fund Gidji JV Gold Project activities.

Outlook

Miramar Resources expects to continue progressing the Gidji JV Gold Project towards potential development with the new funds, aiming to convert existing Block Model ounces to Resources and explore additional mineralisation.