RAIDEN RESOURCES LIMITED — Capital/Financing Update 2022

Oct 17, 2022

NON-RENOUNCEABLE ENTITLEMENT ISSUE LOYALTY OPTION UPDATE

Raiden Resources Limited (ASX: RDN DAX: YM4) ("Raiden" or "the Company") is pleased provide an update on its Loyalty Option Placement ("Loyalty Option"), which is fully underwritten ("Underwritten") by CPS Capital Group Pty Ltd ("CPS Capital").

Loyalty Option Placement Update

Following approval of all resolutions at the General Meeting held on the 4 th of October 2022, the Company confirms its intention to do a Loyalty Option to eligible shareholders on the basis of one (1) Loyalty Option for every five (5) fully paid ordinary shares ("Shares"), held by eligible shareholders at 5pm (WST) on Tuesday, the 1st November 2022 ("Record Date"), at an issue price of $0.001 per Loyalty Option ("Loyalty Offer").

The purpose of the Loyalty Offer is to recognise the support and loyalty the Company has received from its shareholders to date. The Loyalty Offer is being made to all shareholders of the Company named on its register of members on the Record Date, whose registered address is in Australia or New Zealand ("Eligible Shareholders").

The Loyalty Option under the Loyalty Offer will be on the same terms as the recent Placement Options (Refer announcement 2nd August 2022) (together "Options"), where each option will be exercisable at $0.015 and expire on the 30th November 2024. The Loyalty Offer is expected to raise an additional ~$326,488 before costs. The Loyalty Option is Underwritten by CPS Capital.

It is the Company's intention to list all the options post the completion the Loyalty Offer, subject to compliance with requirements under the ASX Listing Rules. For the purposes of calculating each Eligible

Shareholders entitlement, fractional entitlements will be rounded down to the nearest whole number.

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

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

Non-Executive Director Mr Dale Ginn

Chief Operating Officer Mr Warrick Clent

Company Secretary Ms Kyla Garic

ASSET PORTFOLIO

SERBIA

Cu, Co & Au (~269km2 )

BULGARIA

Cu, Au & Ag (~409km2 )

AUSTRALIA Au, Cu, Ni & PGE (~840km2 )

Based on the number of Shares on issue at the date of this announcement, a total of 326,488,426 Loyalty Options will be issued pursuant to the Loyalty Offer (assuming all Loyalty Options are placed). The funds raised from the Loyalty Option will be aggregated with the Company's existing cash reserves and applied towards the cost of the Loyalty Offer and general working capital.

Any entitlement not taken up pursuant to the Loyalty Offer (if any), will form the shortfall ("Shortfall"). The Company has entered a Underwritten agreement with CPS Capital to place any Shortfall.

Full details of the Loyalty Offer will be set out in the prospectus to be lodged by the Company on the ASX on Wednesday the 26 th of October 2022 and despatched to the Eligible Shareholders on 4 th November 2022. The anticipated timetable for the Loyalty Offer is as follows:

EVENT	DATE12
Announcement of Offer and lodgement of Appendix 3B withASX	Tuesday18October 2022
Lodgement of Prospectus with ASIC and ASX	Wednesday 26 October 2022
Ex date	Monday 31 October 2022
Record Date for determining Entitlements	Tuesday 1 November 2022
Prospectus and Entitlement and Acceptance Form despatchedto Eligible Shareholders, and Company announces that thishas been completed. Notice also sent to IneligibleShareholders.	Friday 4 November 2022
Opening date of Offers	Friday 4 November 2022
Last day to extend Closing Date of the Loyalty Options Offer	Thursday 10 November 2022
Closing Date of Offers (5.00pm WST)	Tuesday 15 November 2022
Securities quoted on a deferred settlement basis	Wednesday 16 November 2022
Announcement of results of the Loyalty Options Offer	Tuesday 22 November 2022
Last day for the Company to issue Options under the LoyaltyOptions Offer and lodge an Appendix 2A	Tuesday 22 November 2022

1 There dates are indicative only. The Directors reserve the right to vary the key dates without prior notice, subject to the listing rules.

2 The Directors may extend the Closing Date by giving at least three business days' notice to ASX prior to the Closing Date. Accordngly, the date

Anticipate issued date of Options under the Placement	Tuesday 22 November 2022
Options Offer and Lead Manager Options Offer and
lodgement of Appendix 2A
Deferred settlement trading ends	Tuesday 22 November 2022
Commencement of trading of Options on ASX	Wednesday 23 November 2022

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

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 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.