RAIDEN RESOURCES LIMITED — Capital/Financing Update 2021

Feb 14, 2021

ASX RELEASE | 15[th] February 2021

SUCCESSFUL COMPLETION OF SUBSTANTIAL PILBARA GOLD AND NICKEL PORTFOLIO ACQUISITION

QUICK STATS

ASX Code: RDN

DAX Code: YM4

Shares on Issue: 874.8 million ~~Market Cap~: $~~ 22.7 million

Raiden Resources Limited (ASX: RDN) (“Raiden” or “the Company”) is pleased to advise that the Company has successfully completed on its acquisition of the substantial Pilbara Gold and Nickel portfolio, as announced on the 13[th] of October 2020.

All conditions precedent including provision of signed transfers, all mining information and statutory consents have now been received. The Company is in the process of allotting the vendor shares and will make the A$500,000 payment to Pacton Gold Corp. in satisfaction of its obligations under the agreement.

Mr Dusko Ljubojevic, Managing Director of Raiden commented:

“The Company is very pleased to have completed the acquisition of the Pilbara gold and nickel portfolio. The finalisation of this acquisition provides the Company with significant exploration exposure in a district that is quickly becoming the new frontier of gold exploration in Australia, owing to De Grey’s Hemi discovery.

We are now in a position to begin our planned exploration program, which will initially focus on the Arrow gold project and Mt Sholl nickel project and we look forward to updating the market of our progress.”

BOARD & MANAGEMENT

Non- Executive Chairman Mr Michael Davy

Managing Director Mr Dusko Ljubojevic

Non-Executive Directors Mr Martin Pawlitschek

Company Secretary Ms Kyla Garic

ASSET PORTFOLIO

Donje Nevlje - Serbia

(100% Raiden – 74km[2] )

Majdanpek West - Serbia (100% Raiden - 76km[2] )

Pirot - Serbia

(100% Raiden 17 - km[2] )

Vuzel - Bulgaria

(JV – path to 100% -26.5 km[2] )

For more information in respect to the projects acquired, we refer you to the ASX Announcements “Substantial Pilbara Gold and Nickel Portfolio Acquisition”, dated the 13[th] of October 2020 and “Due Diligence successfully completed over substantial Pilbara Gold and Nickel Portfolio Acquisition”, dated 13 January 2021.

Kalabak - Bulgaria

(JV – path to 75% -191 km[2] )

Zlatusha - Bulgaria

(JV – path to 75% -191 km[2] )

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

P 08 6158 9990 108 Outram Street, West Perth WA Australia 6005 Page 1 of 2

ASX RELEASE | 15[th] February 2021

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) is an ASX/DAX listed copper—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.

Over the last 2½ 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.

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

Page 2 of 2