25 Nov

Raises funds to advance HN9 and Lady Julie projects

ASX Release ASX code: MAU 2 5 November 202 1 RAISES FUNDS TO ADVANCE HN9 AND LADY JULIE PROJECTS AT LAVERTON Magnetic Resources NL ( Magnetic or the Company ) is pleased to announce that it has r eceived binding commitments for approximately $ 1.0 2 m illion (before costs) via a placement of approximately 0. 71 m illion N ew S hares at $ 1. 42 per share. The placement saw interest from new and existing shareholders. The placement price represents a n approximate 1 1 % discount to the last closing price of $1.6 0 per share and a n approximate 1 0 % discount to the average price of the 1 5 prior days of trading . A ll shares are being issued within the Company’s existing 15% placement capacity under Listing Rule 7.1 . Th e funds raised will be predominately used for additional deep drilling, metallurgical, resource and scoping study work at the H awks N est 9 and Lady Julie project s , together with additional working capital . Commenting on the capital raising, Managing Director George Sakalidis noted “ drilling at both the Hawks Nest 9 and Lady Julie projects continue s to intersect thickened mineralised zones that start from surface and remain open along strong and at depth. The Company has noticed strong interest in the Australian gold sector in the recent months with a number of mergers an d acquisitions as larger companies look to acquire developing project close to resource status. The Company continues to receive enquiries from parties wishing to view our drilling data. The Hawks Nest 9 and Lady Julie projects continue to add additional m ineralisation towards our planned resource .” Settlement of New Shares is expected to occur on 30 November 2021 , and allotment o n 1 December 2021 . A n appendix 3B to follow. Standard broker fees apply. For more information on the Company visit www.magres.com.au George Sakalidis Managing Director M+61411640337 george@magres.com.au This announcement has been authorised for release by Managing Director George Sakalidis. Level 1 44A Kings Park Road West Perth WA 6005 PO Box 1388 West Perth WA 6872 Telephone 08 9226 1777 www. mag res.com.au ABN 34 121 370 232
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