RAIDEN RESOURCES LIMITED — Board/Management Information 2024

Sep 29, 2024

ASX RELEASE | 30 September 2024

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DRILLING COMMENCED ON ANDOVER SOUTH LITHIUM PROJECT AND PROPOSED DIRECTOR INCENTIVES

Highlights

• Drilling on Andover South lithium project commenced

• Program is designed for initial 5,000 metres of diamond drilling and at Raiden’s election can be expanded to 10,000 metres

• The initial 5,000 metre program is anticipated to be completed in November 2024

• Initial program is focused on Target Area 1, which is defined by high-grade mineralisation and wide, outcropping pegmatites[1,2]

• Further field mapping and target evaluation is ongoing to define further potential drill targets on tenements E47/4061 and E47/4062 (Andover South Project)

Raiden Resources Limited (ASX: RDN DAX: YM4) (“Raiden” or “the Company”) is pleased to announce that it has commenced drilling activities on the Andover South Lithium Project in Western Australia.

ASX CODE: RDN DAX CODE: YM4

BOARD & MANAGEMENT Non-Executive Chairman Mr Michael Davy

Managing Director Mr Dusko Ljubojevic

Non-Executive Director Mr Dale Ginn

Non-Executive Director & Company Secretary Ms Kyla Garic

Chief Operating Officer Mr Sean Halpin

ASSET PORTFOLIO

SERBIA

Mr Dusko Ljubojevic, Managing Director of Raiden commented:

“We are extremely excited to have commenced drilling activities on the Andover South lithium project. The initial program is underway with a single drill rig, with a second rig scheduled to mobilise to site shortly. The initial planned drill holes will assist us in defining the dip and dip directions of the outcropping pegmatites, which will lead to further drill confirmation at depth. We look forward to receiving initial results and will inform the market of the results as soon as they are received and interpreted.”

Cu & Au

BULGARIA Cu, Au & Ag

AUSTRALIA

Li, Au, Cu, Ni & PGE

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ASX RELEASE | 30 September 2024

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Andover South Drilling Program

The drilling program at Andover South lithium project is currently underway. The maiden drill program, initially designed for 5,000 metres of diamond drilling commenced with a single diamond drill rig, with a second drill rig mobilising to site shortly.

The initial program is focused on the Target Area 1[1,2] , which is defined by highly fractionated pegmatites, which are mineralised and have been mapped with significant widths at surface. Further target areas are currently being reviewed and considered for potential drill testing. The initial program is expected to be completed in late November. Results will be provided to the market as soon as management interpret and quality control the results.

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Figure 1: Andover South Project location and the preliminary structural interpretation of the Andover Complex, in relation to currently defined mineralisation at Andover South target and the Andover Deposit[1-16]

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ASX RELEASE | 30 September 2024

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Proposed Director Incentives

The board of directors proposes to put forward a performance share incentive plan for the board of directors at the next Annual General Meeting, which will be subject to shareholder approval. The performance share incentives are to incentivise and remunerate the board for their ongoing efforts, as the Company moves into a very exciting six months whereby likely four of the Company’s projects will be drilled this year.

The proposed performance rights will be staged across four meaningful milestones to align the boards interests with those of the shareholders.

The key terms of the performance rights proposed are:

	PERFORMANCE RIGHTS
	Security Class	Tranche 1	Tranche 2	Tranche 3	Tranche 4
	SecurityHolders	Refer Below	Refer Below	Refer Below	Refer Below
	Number ofSecurities	14,000,000	14,000,000	14,000,000	14,000,000
	SecurityEntitlement	One Share	One Share	One Share	One Share
	Listed/Unlisted	Unlisted	Unlisted	Unlisted	Unlisted
	VestingMilestone	achieving a VWAPof $0.075 over aperiod of 15trading daysbefore the expirydate OR Raidenachieving a marketcapitalisation of$200 million over aperiod of 15trading daysbefore the expirydate	achieving a VWAPof $0.10 over aperiod of 15trading daysbefore the expirydate OR Raidenachieving a marketcapitalisation of$350 million over aperiod of 15trading daysbefore the expirydate	achieving a VWAPof $0.15 over aperiod of 15trading daysbefore the expirydate OR Raidenachieving a marketcapitalisation of$500 million over aperiod of 15trading daysbefore the expirydate	achieving a VWAPof $0.20 over aperiod of 15trading daysbefore the expirydate OR Raidenachieving a marketcapitalisation of$700 million over aperiod of 15trading daysbefore the expirydate
	Grant Date	to be advised	to be advised	to be advised	to be advised
	Expiry Date	3 years from grant date	3 years from grant date	3 years from grant date	3 years from grant date
	Exercise Price	$0.0001	$0.0001	$0.0001	$0.0001

The directors and quantum of their allocation who will partake in the performance incentive plan are listed below. Full details of the proposed performance rights will be detailed in the upcoming notice of meeting to be lodged in due course and after the relevant regulatory reviews.

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ASX RELEASE | 30 September 2024

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	Position	ManagingDirector	Non-ExecutiveChairman	Non-ExecutiveDirector	Non-ExecutiveDirector/CompanySecretary & CFO
	Name	Dusko Ljubojevic	Michael Davy	Dale Ginn	Kyla Garic
	Tranche 1	7,500,000	3,500,000	1,000,000	2,000,000
	Tranche 2	7,500,000	3,500,000	1,000,000	2,000,000
	Tranche 3	7,500,000	3,500,000	1,000,000	2,000,000
	Tranche 4	7,500,000	3,500,000	1,000,000	2,000,000
	Total	30,000,000	14,000,000	4,000,000	8,000,000

This ASX announcement has been authorised for release by the Board of Raiden Resources Limited.

FOR FURTHER INFORMATION PLEASE CONTACT

DUSKO LJUBOJEVIC Managing Director

RAIDEN RESOURCES LIMITED info@raidenresources.com.au www.raidenresources.com.au

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ASX RELEASE | 30 September 2024

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ASX Announcements referenced to directly in this release

1ASX:RDN 22 December 2023 Independent analysis confirms five new zones at Andover 2ASX:RDN 23 September 2024 Mapping confirms new high-priority target zone at Andover 3ASX:RDN 27 September 2024 Andover South preliminary structural interpretation

4ASX:AZS 13 June 2023 Exceptional lithium drill Intersections from Andover

5ASX:AZS 20 June 2023 Broad high-grade lithium intersections continue at Andover

6ASX:AZS 30 June 2023 More broad high-grade lithium intersections at Andover

7ASX:AZS 14 July 2023 More +100m lithium intersections returned at Andover

8ASX:AZS 4 August 2023 209m High-grade lithium intersection at Andover

9ASX:AZS 21 August 2023 Drilling delivers large volumes of lithium mineralisation at Andover 10ASX:AZS 18 September 2023 Andover deliver more outstanding lithium results

11ASX:AZS 10 October 2023 Substantial spodumene-rich pegmatites drilled at target Area 3 12ASX:AZS 15 November 2023 Extensive high-grade lithium confirmed at target Area 3 13ASX:AZS 30 November 2023 The Andover Lithium Project Exploration Success to Project 14ASX:AZS 22 December 2023 World-class lithium intersections continue at Andover 15ASX:AZS 13 February 2024 More very impressive lithium intersections from Andover 16ASX:AZS 20 March 2024 Andover lithium system continues to grow

Competent Person's Statement

The information in the referenced announcements 1,2 & 3 footnoted above that relate to Exploration Results has previously been released to the ASX. The Company confirms that it is not aware of any information or data that materially affects the information included in the market announcements, and that all material assumptions and technical parameters underpinning the announcements continue to apply. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements.

Disclaimer:

Forward-looking statements are statements that are not historical facts. Words such as “expect(s)”, “feel(s)”, “believe(s)”, “will”, “may”, “anticipate(s)”, “potential(s)”and similar expressions are intended to identify forwardlooking statements. These statements include, but are not limited to statements regarding future production, resources or reserves and exploration results. All of such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forwardlooking information and statements. These risks and uncertainties include, but are not limited to: (i) those relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations, (ii) risks relating to possible variations in reserves, grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined, (iii) the potential for delays in exploration or development activities or the completion of feasibility studies, (iv) risks related to commodity price and foreign exchange rate fluctuations, (v) risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals or in the completion of development or construction activities, and (vi) other risks and uncertainties related to the Company’s prospects, properties and business strategy. Investors are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and the Company does not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.

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ASX RELEASE | 30 September 2024

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About Raiden Resources

Raiden Resources Limited (ASX:RDN / DAX:YM4) is a dual listed lithium, base metal—gold exploration Company focused on the Andover North-South, Mt Sholl and Arrow lithium projects. The Company also holds the rights to the advanced Mt Sholl nickel-copper-cobalt-PGE and the Arrow gold projects in the Pilbara region of Western Australia. In addition, the Company holds the rights to multiple projects in the emerging and prolific Western Tethyan metallogenic belt in Eastern Europe, where it has established a significant exploration footprint in Serbia and Bulgaria.

The Directors believe the Company is well positioned to unlock value from this exploration portfolio and deliver a significant mineral discovery.

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