MOHO RESOURCES LIMITED — Capital/Financing Update 2022

May 25, 2022

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26 May 2022
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MOHO COMPLETES CAPITAL RAISING TO ADVANCE NICKEL/PGE EXPLORATION

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Moho Resources Limited (ASX: MOH ) ( Moho or the Company ) is pleased to advise that it has received firm commitments to raise $974,562 through a placement at an issue price of $0.033 (3.3 cents) each (Placement). The bookbuild was oversubscribed with strong demand from sophisticated and professional investors.

The Placement Shares will be issued on the same terms as, and rank equally in all respects with, the existing fully paid ordinary shares in the Company.

RM Corporate Finance Pty Ltd (RM Corporate) acted as Lead Manager to the Placement.

“Moho is delighted with the positive market response to our capital raising in particularly difficult market conditions and appreciates the valuable support provided by RM Corporate.”

– Mr Shane Sadleir, Managing Director

Use of Funds

Proceeds from the Placement will be used for general working capital and applied to exploration at Moho’s projects, including:

• Black Swan South:

• ~1,800m RC drill program to test basal contact of interpreted ultramafic unit

• DHEM survey of selected RC holes and ground EM survey over magnetic anomaly

• to assess potential for further nickel targets

• Manjimup:

• Orientation soil sampling survey and geological mapping

• Landowner engagement and land access agreements

• Level 2 fauna and flora surveys

• Geophysical surveys (ground gravity and EM)

Placement

Placement of a total of 29,532,169 new fully paid ordinary shares (Shares) at an issue price of $0.033 to raise gross proceeds of approximately A$974,562.

The allotment of the placement for up to 29,532,169 Shares (~$974,562) is not subject to shareholder approval and will fall within the Company’s placement capacity under ASX Listing Rule 7.1 (16,519,300 shares) and ASX Listing Rule 7.1A (13,012,869 shares). Settlement is expected on or around Friday, 3 June 2022.

Moho will issue one (1) free attaching unlisted option (Option) for every one (1) Placement Share issued. The Options will be exercisable at A$0.05 (5 cents) with an expiry date of 31 January 2024. RM Corporate as lead manager to the Placement will receive a fee of 6% of the funds raised and 635,000 ordinary shares (Lead Manager Shares). The free attaching options and Lead Manager Shares are subject to shareholder approval at a general meeting scheduled to occur on or around Friday, 15 July 2022.

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ABOUT MOHO RESOURCES LTD

Moho Resources Ltd is an Australian mining company which listed on the ASX in November 2018. The Company is focused on gold and nickel exploration at Empress Springs, Silver Swan North and Burracoppin.

Moho’s Board is chaired by Mr Terry Streeter, a well-known and highly successful West Australian businessman with extensive experience in funding and overseeing exploration and mining companies, including Jubilee Mines NL, Western Areas NL and Midas Resources Ltd.

Moho has a strong and experienced Board lead by geoscientist Shane Sadleir as Managing Director, Commercial Director Ralph Winter and Adrian Larking, lawyer and geologist, as NonExecutive Director.

Moho’s Senior Exploration Geologist Nic d’Offay is supported by leading industry consultant geophysicist Kim Frankcombe (ExploreGeo Pty Ltd) and experienced consultant geochemists Richard Carver (GCXplore Pty Ltd). Dr Jon Hronsky (OA) provides high level strategic and technical advice to Moho.

ENDS

The Board of Directors of Moho Resources Ltd authorised this announcement to be given to ASX.

For further information please contact:

Shane Sadleir, Managing Director Ralph Winter, Commercial Director T: +61 411 704 498 T: +61 435 336 538 E: shane@mohoresources.com.au E: ralph@mohoresources.com.au