AVIRA RESOURCES LTD — Capital/Financing Update 2024

Apr 28, 2024

29 April 2024

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OVERSUBSCRIBED CAPITAL RAISE

The Manager Market Announcements Office Level 40, Central Park, 152-158 St George's Terrace Perth WA 6000

ACN: 131 715 645

T: + 61 8 9463 2463

W: www.aviraresourcesltd.com.au

Directors David Wheeler, Non-Executive Chairman

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Avira Resources Limited (ASX: AVW) ( Avira or the Company ) is pleased to announce the details of the Company’s Placement.

PLACEMENT DETAILS

Following the announcement of the Meru Copper-Gold Earn In Agreement firm commitments have been received for a share placement to raise a total of $815,000 (before costs) at an issue price of $0.001 per fully paid ordinary share ( Placement Shares ). Investors will receive one (1) attaching unlisted option for every two (2) new Placement Shares issued pursuant to the Placement ( Placement Options ) (together the Placement ). The Placement Options will be exercisable at $0.003, each with an expiry date of 30 June 2027.

David Deloub, Executive Director

James Robinson, Non-Executive Director

Sonu Cheema, Company Secretary

Issued Capital (ASX Code: AVW) 2,133,790,000 Ordinary Shares

968,710,000 Quoted options exercisable ( AVWOA ) at $0.008 on or before 31 December 2024

The oversubscribed Placement was strongly supported by a number of existing shareholders and high net worth investors, demonstrating ongoing support for Avira and a high degree of confidence in the potential of the Company’s projects.

Please refer to the ASX announcement dated 24 April 2024 for further detail.

The Placement consists of two tranches:

The Company will issue 530,000,000 Placement Shares to raise $530,000 utilising its share issue capacity under ASX Listing Rule 7.1 (316,621,000 shares) and 7.1A (213,379,000 shares) ( Tranche 1 ); and

The Company will seek to issue a further 285,000,000 Placement Shares to raise $285,000, subject to shareholder approval at a general meeting of shareholders ( Tranche 2 ). The Tranche 2 Placement is inclusive of Director participation of up to $20,000. The Placement Options will also be issued subject to shareholder approval at the general meeting.

The issue price of $0.001 per Placement Share is the same price as the last ASX closing share price prior to the Company’s trading halt announced on 24 April 2024.

Puolalaki Project location, Sweden

CPS Capital Group Pty Ltd ( CPS ) acted as Lead Manager to the Placement.

An updated Appendix 3B has been released in conjunction with the release of this ASX Announcement to accurately reflect the proposed issue of securities under the Placement.

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USE OF FUNDS

Funds raised via the Placement will be primarily applied to fund exploration at the Meru Copper-Gold Project, Company’s existing projects and working capital.

The $285,000 received from oversubscription of the placement will be primarily applied towards working capital.

-ENDS-

For, and on behalf of, the Board of the Company, and authorised for release.

David Deloub Executive Director Avira Resources Limited

Shareholders and other interested parties should contact Mr. Sonu Cheema for any queries in relation to this announcement: +61 8 9463 2463.

ABOUT AVIRA

Avira is a mineral exploration company with a focus on base and battery metals. It is currently developing the Puolalaki Project in Sweden and the Paterson Range Project in Western Australia.

The Puolalaki Project currently comprises a single exploration permit (Puolalaki nr 100) centred over a syn-orogenic gabbro intrusion that hosts the nickel mineralisation discovered by NAN in 1998[1] . In addition to the Ni-Cu-Co mineralisation at Puolalaki, the project also contains significant, high-grade gold mineralisation across two zones within the metasediments and metavolcanics surrounding the gabbro. The Puolalaki Project is located in Sweden’s premier Gällivare mining district which is host to Europe’s largest open-cut copper mine Aitik, owned by Boliden and to LKAB’s Malmberget iron-ore mine.

The Paterson Range Project in Western Australia comprises two tenement packages within the Paterson Range province, host to a number of substantial gold, copper and manganese mines and deposits including the Telfer gold-copper mine, Woody Woody manganese and Nifty copper mines.

Forward Looking Statements

This announcement contains forward-looking statements which are identified by words such as ‘may’, ‘could’, ‘believes’, ‘estimates’, ‘targets’, ‘expects’, or ‘intends’ and other similar words that involve risks and uncertainties. These statements are based on an assessment of present economic and operating conditions, and on a number of assumptions regarding future events and actions that, as at the date of this announcement, are expected to take place. Such forward-looking statements does not guarantee future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, the directors and our management. We cannot and do not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained in this prospectus will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements. We have no intention to update or revise forward-looking statements, or to publish prospective financial information in the future, regardless of whether new information, future events or any other factors affect the information contained in this announcement, except where required by law. These forward looking statements are subject to various risk factors that could cause our actual results to differ materially from the results expressed or anticipated in these statements.

1 South Atlantic Resources Ltd (VSE:SCQ) Press Release dated April 22, 1998 “NAN Discovers Copper-Nickel-Cobalt Mineralization in Northern Sweden”. North Atlantic Natural Resources AB was a Swedish subsidiary of Vancouver Stock Exchange listed company South Atlantic Resources Ltd.