RAIDEN RESOURCES LIMITED — Capital/Financing Update 2021

Oct 21, 2021

ASX RELEASE | 22[nd] October 2021

SUCCESSFUL COMPLETION OF SUBSTANTIAL NI-CU-PGE ACQUISITION

Raiden Resources Limited (ASX: RDN) (“Raiden” or “the Company”) is pleased to advise the Company has successfully completed on its acquisition of the substantial Ni-Cu-PGE tenements adjacent to its existing Mt Sholl project, as announced on the 13[th] of September 2021.

All conditions precedent including provision of signed transfers, all mining information and statutory consents were received. The Company is in the process of allotting the vendor shares and has settled the A$100,000 payment to Welcome Exploration Pty Ltd (“Welcome”) in satisfaction of its obligations under the agreement.

Mr Dusko Ljubojevic, Managing Director of Raiden commented:

“The board is pleased to have completed the acquisition of the Pilbara Welcome Ni-Cu-PGE tenements. This acquisition significantly expands the prospectivity of the Company’s Mt Sholl project, which is now defined through approx. 80,000m of historical drilling across the tenements. We are expediting our review of the historical drill data, modelling and previous geophysical surveys across all these tenements. In conjunction with the mapping and target generation conducted earlier in the year, the Company will be announcing the result of our evaluations and the program to progress the project in the near term.

With base metal prices on the rise and with Nickel, Copper, Cobalt and PGEs expected to perform particularly well over the medium term, Management feel that this advanced project may underpin a significant value for the Company.”

Q UICK STATS ASX Code: RDN DAX Code: YM4

BOARD & MANAGEMENT Non- Executive Chairman Mr Michael Davy

Managing Director

Mr Dusko Ljubojevic

Non-Executive Director Mr Martin Pawlitschek

Non-Executive Director Mr Dale Ginn

Company Secretary Ms Kyla Garic

ASSET PORTFOLIO

SERBIA

Cu, Co & Au (~269km[2] )

BULGARIA

Cu, Au & Ag (~409km[2] )

AUSTRALIA

Au, Cu, Ni & PGE (~840km[2] )

For more information in respect to the project acquired, we refer you to the ASX Announcement “Substantial Acquisition Significantly Expands Mt Sholl Ni-Cu-PGE Project”, dated the 13[th] of September 2021.

P 08 6158 9990 Suite 7, 63 Shepperton Road, Victoria Park, WA 6100 ABN 68 009 161 522

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RAIDENRESOURCES.COM.AU

ASX RELEASE | 22[nd] October 2021

This ASX announcement has been authorised for release by the Chairman and Managing Director of Raiden Resources Limited.

FOR FURTHER INFORMATION PLEASE CONTACT

DUSKO LJUBOJEVIC Managing Director

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

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 forward-looking 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 forward-looking 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.

About Raiden Resources

Raiden Resources Limited . (ASX:RDN / DAX:YM4) is a dual listed base metal—gold exploration Company focused on the emerging and prolific Western Tethyan metallogenic belt in Eastern Europe, where it has established a significant exploration footprint in Serbia and Bulgaria. In 2021 Raiden has completed a transaction that resulted in the acquisition of highly prospective portfolio of gold, copper, nickel and PGE projects in the Pilbara region of Western Australia.

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

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