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Mt McClure

Ironstone Well-Barwidgee Project

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Roboto

Yandal Resources

Commenting on the capital raising, Yandal Resources’ Managing Director, Mr Tim Kennedy said: “We’re very pleased with the response to this capital raising. It’s clear that participants can see the quality and inherent value that our project portfolio represents. These funds will enable us to accelerate exploration at our key target areas, starting with an RC program at the large-scale Oblique project commencing next week. It will also enable us to direct funds to early-stage assessment of the potential for other commodities such as lithium which have not yet been the focus of past exploration activities. We’ve got a very active exploration schedule planned over the next 6 to  12 months and are looking forward to reporting progress as results come to hand.”

Firm commitments received for 76.9 million fully paid ordinary shares (“New Shares”) to raise A$4.0 million.

Placement shares priced at $0.052 and include a 1-for-2 free attaching option with an exercise price of $0.11.

Placement oversubscribed with strong support received from major shareholders and significant interest from new investors.

 All Directors participating in the Placement.

Funds raised will be primarily focused on drilling including Exploration Target testing and MRE related activities at the Ironstone Well-Barwidgee, Mt McClure and Gordons projects.

Funds will also enable early-stage assessment for lithium across the Yandal Belt tenements to be accelerated.

· Drilling to commence next week at the Ironstone Well-Barwidgee: Oblique prospect.

Share Placement to Raise $4m

Summary