RAIDEN RESOURCES LIMITED — Capital/Financing Update 2022

Oct 9, 2022

10 October 2022

The Manager Company Announcements Office ASX Limited Level 6, 20 Bridge Street SYDNEY NSW 2000

NOTICE UNDER SECTION 708A(5)(e) OF THE CORPORATIONS ACT

Raiden Resources Limited (ASX: RDN) (Company) confirms that today it issued 147,890,262 fully paid ordinary shares (Shares) to complete the second tranche of its share placement announced to ASX on 2 August 2022 (Placement). The issue of the Shares was approved by shareholders at the Company's general meeting held on 4 October 2022.

In respect of the Share issue, the Company gives notice pursuant to section 708A(5)(e) of the Corporations Act 2001 (Cth) (Corporations Act) that:

• 1. the Company issued the Shares without disclosure to investors under Part 6D.2 of the Corporations Act; and
• 1. as at the date of this notice, the Company has complied with:
  • a) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and
  • b) section 674 and 674A of the Corporations Act; and
• 1. as at the date of this notice, there is no information to be disclosed which is excluded information (as defined in sections 708A(7) and 708A(8) of the Corporations Act), other than as set out directly below:
  • a) as announced to ASX on 20 September 2022, the Company's drilling program at the Mt Sholl project is ongoing and the Company is currently awaiting assay results from these activities. The Company will update the market when laboratory analytical results become available in accordance with its continuous disclosure obligations;
  • b) as announced to ASX on 25 August 2022, the Company continues with its strategy of looking for opportunities to divest assets within its portfolio to focus on its flagship Mt Sholl project, as well as its Arrow Gold project. Negotiations with third parties are early stage, incomplete and confidential. There can be no certainty that any agreement or agreements will be reached, or that any transaction will eventuate. The Company will keep the market informed in accordance with its continuous disclosure obligations;
  • c) the Company continues to identify and review other commercial opportunities for the Company which complement the Company's existing projects and activities. Negotiations with third parties are early stage, incomplete and confidential. There can be no certainty that any agreement or agreements will be reached, or that any transaction will eventuate. The Company will keep the market informed in accordance with its continuous disclosure obligations;
  • d) as announced on 2 August 2022, in conjunction with the Placement, the Company intends to undertake an entitlement issue of loyalty options to eligible shareholders pursuant to a

10 October 2022

disclosure document. At the date of this notice, the document has not been finalised and the Company will update the market in accordance with its continuous disclosure obligations.

An Appendix 2A for the issue of the Shares has been published on the ASX at today's date.

This notice is authorised for ASX release by the Board of Raiden Resources Limited.

Yours faithfully,

KYLA GARIC Company Secretary RAIDEN RESOURCES LIMITED