RAIDEN RESOURCES LIMITED — Capital/Financing Update 2021

Apr 22, 2021

ASX RELEASE | 23[rd] April 2021

RAIDEN SECURES 100% EQUITY OF PACTON PILBARA PORTFOLIO

HIGHLIGHTS

Raiden has secured exposure to 100% equity interest across the entire Pilbara Portfolio, through the acquisition of the remaining 25% equity from Pacton Gold Inc. (“Pacton”).

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Figure 1: Pilbara Project Portfolio

QUICK 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

Company Secretary Ms Kyla Garic

ASSET PORTFOLIO

SERBIA

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

BULGARIA

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

AUSTRALIA

Au, Cu, Ni & PGE (~823km[2] )

Mr Dusko Ljubojevic, Managing Director of Raiden commented:

“Since the acquisition of the Pilbara Project Portfolio, we have been advancing the targeting work on the Arrow project and data evaluations on the remainder of the portfolio. Through the acquisition of the remaining 25% project equity interest across Arrow, Yandicoogina and Boodalyerrie, Raiden has complete exposure to the exploration upside on

these projects. We have recently completed the high resolution airborne magnetic survey across the Arrow North tenement and eagerly await the results of the interpretation. De Grey’s Hemi deposit, which

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ASX RELEASE | 23[rd] April 2021

is located along strike off the Arrow licenses continues to impress and may put the Pilbara on the map as a world class gold camp. With the Company quickly advancing the Arrow project towards drill ready status, the opportunity to hold 100% of the tenement was viewed favourably by the board.”

Raiden Resources Limited (ASX: RDN) (“Raiden” or “the Company”) is pleased to announce that it has acquired the remaining 25% project equity from Pacton Gold Inc. (“Pacton”) across the Arrow, Yandicoogina and Boodalyerrie Projects. In addition, as part of the acquisition Raiden will take over ownership of a ball mill which was owned by Pacton. An evaluation of the condition and potential utilisation of the ball mill will be conducted concurrently with the exploration programs underway across the Pilbara Portfolio.

Commercial Terms of the Acquisition:

Raiden Resources Ltd (“Raiden”) has entered into an agreement to acquire the remaining 25% equity interest from Pacton Gold Inc (TSX-V: PAC), through its wholly owned subsidiary Pilbara Gold Corporation Pty Ltd (“PGC”). At Raiden’s election, it can proceed with the acquisition under the following consideration terms:

• Issue Pacton A$1,000,000 in fully paid ordinary shares of Raiden, based on a 20 day VWAP from date of execution of the agreement (6 months voluntary escrow from date of issue); and

• Pay cash consideration of A$200,000 to Pacton.

The completion of the acquisition will be subject to the conditions precedent including:

• The Parties receiving all regulatory approvals or consents and/or complying with all requirements imposed by any regulatory body (including any governmental agency and ASX) and approvals; and

• Other conditions customary for the transaction of this nature.

Appendix 1: Tenement Schedule- Pacton Gold Inc Tenure (Option to acquire remaining 25%)

Tenement	Project	**Type **	Status	Current Tenement %	Post Acquisition %
E45/3571	Yandicoogina	EL	Live	RDN 75% / Pacton 25%	RDN 100%
E45/3474	Yandicoogina	EL	Live	RDN 75% / Pacton 25%	RDN 100%
M45/115	Yandicoogina	ML	Live	RDN 75% / Pacton 25%	RDN 100%
M45/987	Yandicoogina	ML	Live	RDN 75% / Pacton 25%	RDN 100%
E45/3586	Boodalyerrie	EL	Live	RDN 75% / Pacton 25%	RDN 100%
E47/3476	Arrow	EL	Live	RDN 75% / Pacton 25%	RDN 100%
E47/3478	Arrow	EL	Live	RDN 75% / Pacton 25%	RDN 100%

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ASX RELEASE | 23[rd] April 2021

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 dusko@raidenresources.com.au

www.raidenresources.com.au

Competent Person's Statement

The information in this announcement that relates to exploration results is based on and fairly represents information and supporting documentation prepared by Mr Martin Pawlitschek, a competent person who is a member of the Australian Institute of Geoscientists (AIG). Mr Martin Pawlitschek employed by Raiden Resources Limited. Mr Martin Pawlitschek has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 edition of the JORC Code. Mr Martin Pawlitschek has provided his prior written consent as to the form and context in which the exploration results and the supporting information are presented in this announcement.

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.

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ASX RELEASE | 23[rd] April 2021

About Raiden Resources

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

Over the last 3 years, the Company has secured one of the largest project portfolios, considered prospective for porphyry and epithermal mineralisation in Eastern Europe. The Company has defined over 20 porphyry, epithermal and polymetallic prospects over the course of 2019, a number of which the Company plans to drill test. Furthermore, initial work programs in the Pilbara are demonstrating the potential of the recently acquired portfolio and will lead to near term drilling.

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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