BUXTON RESOURCES LIMITED — Capital/Financing Update 2024

Nov 3, 2024

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ASX Release

4 November 2024

Strategic Placement

• Successful completion of a $0.6m placement to sophisticated and professional investors at $0.065 per share

• Significant support from existing shareholders, providing validation of Buxton’s assets and strategy

• $250k cornerstone investment from an experienced battery metals executive

• Funds will be applied primarily to completing a Graphite Bull Mineral Resource Upgrade and general working capital

Buxton Resources Ltd (‘Buxton’; ASX:BUX & BUXO) is very pleased to advise that it has successfully completed an in-house book build to raise approximately A$0.6M through the issue of approximately 9 million new shares at 6.5 cents per share (“Placement”).

This was a company-led raise, cornerstoned by a successful battery metals executive and supported by a very small number of professional and sophisticated investors, the majority of whom are existing shareholders.

Buxton CEO Marty Moloney commented: “Buxton is incredibly pleased by the engagement and support from existing shareholders and from the incoming cornerstone investor in this placement. This result is a recognition of the quality of our portfolio and underlines shareholder confidence in our strategic direction.

The funds from this capital raise, along with our existing cash, will fund additional exploration activities at Graphite Bull, product qualification work with downstream battery producers and preparatory work across our 100% owned greenfield exploration portfolio. I am very excited about the value these activities can generate.

We thank both existing shareholders and new investors for their support and look forward to delivering multiple streams of news flow in the near future.”

This Announcement is supported by a video overview on the Company’s Investor Hub

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15 Robinson Av Belmont WA 6104

T: 08-9380 6063 E: info@buxtonresources.com.au W: www.buxtonresources.com.au Visit our investor hub: investorhub.buxtonresources.com.au

PO Box 661 Nedlands WA 6009

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About the Placement

The allotment of the Placement of up to approximately 9 million fully paid ordinary shares will fall within the Company’s 15% placement capacity under ASX LR 7.1. Placement Shares have an issue price of $0.065 per share, which represents a 0% discount to the 20-day VWAP up to the 30[th] November 2024 (the trading day before the Trading Halt commenced).

The funds raised from the placement will be used towards progressing work on the Graphite Bull project, including an update to the Mineral Resource Estimate along with general working capital. The raise was completed in-house and no capital raising fees will be paid.

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This announcement is authorised by the Board of Buxton Resources Ltd. For further information, please contact:

Martin Moloney

Chief Executive Officer marty@buxtonresources.com.au

Sam Wright Company Secretary sam@buxtonresources.com.au

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15 Robinson Av Belmont WA 6104

T: 08-9380 6063 E: info@buxtonresources.com.au W: www.buxtonresources.com.au

PO Box 661 Nedlands WA 6009

Visit our investor hub: investorhub.buxtonresources.com.au