RAIDEN RESOURCES LIMITED — Capital/Financing Update 2022

Aug 1, 2022

Proposed issue of securities

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Announcement Summary

Entity name

RAIDEN RESOURCES LIMITED

Announcement Type

New announcement

Date of this announcement

2/8/2022

The Proposed issue is:

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A placement or other type of issue

Total number of +securities proposed to be issued for a placement or other type of issue

		Maximum Number of
ASX +security code	+Security description	+securities to be issued
New class-code to be	Options, exercisable at $0.015 (1.5 cents) each, expiring 30	26,843,895
confirmed	November 2024
New class-code to be	Options, exercisable at $0.015 (1.5 cents) each, expiring 30	59,156,105
confirmed	November 2024
New class-code to be	Broker Options, exercisable at $0.015 (1.5 cents) each,	45,000,000
confirmed	expiring 30 November 2024
New class-code to be	Lead Manager Options, exercisable at $0.015 (1.5 cents)	24,000,000
confirmed	each, expiring 30 November 2024
RDN	ORDINARY FULLY PAID	215,000,000

Proposed +issue date

20/9/2022

Refer to next page for full details of the announcement

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Proposed issue of securities

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Part 1 - Entity and announcement details

1.1 Name of +Entity

RAIDEN RESOURCES LIMITED

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).

1.2 Registered Number Type

ABN

Registration Number

68009161522

1.3 ASX issuer code

RDN

1.4 The announcement is

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New announcement

1.5 Date of this announcement

2/8/2022

1.6 The Proposed issue is:

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A placement or other type of issue

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Proposed issue of securities

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Part 7 - Details of proposed placement or other issue

Part 7A - Conditions

7A.1 Do any external approvals need to be obtained or other conditions satisfied before the placement or other type of issue can proceed on an unconditional basis? Yes

7A.1a Conditions

Approval/Condition	Date for determination	Is the date estimated or	** Approval
+Security holder approval	20/9/2022	actual?	received/condition met?
		Estimated	No

Comments

The Placement will comprise the issue of up to 215,000,000 fully paid ordinary shares issued in 2 tranches. Tranche 1 of Placement, comprising 67,109,738 New Shares to raise apprx 470k, is not subject to shareholder approval and falls within the Company placement capacity under ASX Listing Rule 7.1 Tranche 2 of Placement, comprising 147,890,262 New Shares apprx 1.04m will be issued subject to shareholder approval. Placement applicants will receive one (1) free attaching option for every two and half (2.5) Placement Shares subscribed for under the Placement, exercisable at 1.5c each, expiring on 30 November 2024. The Placement Options for Tranche 1 and Tranche 2 under the placement (86,000,000 options in total) will be subject to shareholder approval at a General Meeting of Shareholders.

Part 7B - Issue details

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? Existing class

Will the proposed issue of this +security include an offer of attaching +securities? Yes

Details of +securities proposed to be issued

ASX +security code and description

RDN : ORDINARY FULLY PAID

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Proposed issue of securities

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Number of +securities proposed to be issued

67,109,738

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration?

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Yes

In what currency is the cash What is the issue price per consideration being paid? +security? AUD - Australian Dollar AUD 0.00700

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Attaching +Security

Is the proposed attaching security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional +securities in a class that is already quoted or recorded by ASX)? New class

Attaching +Security - New class (+securities in a class that is not yet quoted or recorded by ASX)

Details of attaching +securities proposed to be issued

ISIN Code (if Issuer is a foreign company and +securities are non CDIs)

Have you received confirmation from ASX that the terms Will the entity be seeking quotation of the 'new' class of of the proposed +securities are appropriate and +securities on ASX? equitable under listing rule 6.1? Yes No ASX +security code +Security description New class-code to be confirmed Options, exercisable at $0.015 (1.5 cents) each, expiring 30 November 2024

+Security type

Options

Number of +securities proposed to be issued

26,843,895

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

The 26,843,895 options are proposed to be issued as free attaching options to the proposed issue of 67,109,738 Tranche 1 Shares, being one free attaching option per two and half Placement shares. Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Options details +Security currency AUD - Australian Dollar Exercise price Expiry date AUD 0.0150 30/11/2024 Details of the type of +security that will be issued if the option is exercised RDN : ORDINARY FULLY PAID Number of securities that will be issued if the option is exercised

The exercise of one option will result in one fully paid ordinary share

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement.

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? Existing class

Will the proposed issue of this +security include an offer of attaching +securities? Yes

Details of +securities proposed to be issued

ASX +security code and description

RDN : ORDINARY FULLY PAID

Proposed issue of securities

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Proposed issue of securities

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Number of +securities proposed to be issued

147,890,262

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration?

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Yes

In what currency is the cash What is the issue price per consideration being paid? +security? AUD - Australian Dollar AUD 0.00700

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Attaching +Security

Is the proposed attaching security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional +securities in a class that is already quoted or recorded by ASX)? New class

Attaching +Security - New class (+securities in a class that is not yet quoted or recorded by ASX)

Details of attaching +securities proposed to be issued

ISIN Code (if Issuer is a foreign company and +securities are non CDIs)

Have you received confirmation from ASX that the terms Will the entity be seeking quotation of the 'new' class of of the proposed +securities are appropriate and +securities on ASX? equitable under listing rule 6.1? Yes No ASX +security code +Security description New class-code to be confirmed Options, exercisable at $0.015 (1.5 cents) each, expiring 30 November 2024

+Security type

Options

Number of +securities proposed to be issued

59,156,105

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

The 59,156,105 options are proposed to be issued as free attaching options to the proposed issue of 147,890,262 Tranche 2 Shares, being one free attaching option per two and half Placement shares.

The issue of the 59,156,105 (T2) free attaching options is conditional upon shareholder approval to be sought at the Company's GM proposed to be held around 20 September 2022

Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Options details

+Security currency AUD - Australian Dollar Exercise price Expiry date AUD 0.0150 30/11/2024

Details of the type of +security that will be issued if the option is exercised RDN : ORDINARY FULLY PAID

Number of securities that will be issued if the option is exercised

One fully paid ordinary share will be issued for every one option exercised.

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement.

Is the proposed security a 'New Will the proposed issue of this class' (+securities in a class that is +security include an offer of not yet quoted or recorded by ASX) attaching +securities? or an 'Existing class' (additional No securities in a class that is already quoted or recorded by ASX)? New class

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Details of +securities proposed to be issued

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ISIN Code (if Issuer is a foreign company and +securities are non CDIs)

Have you received confirmation from Will the entity be seeking quotation ASX that the terms of the proposed of the 'new' class of +securities on +securities are appropriate and ASX? equitable under listing rule 6.1? Yes No ASX +security code +Security description New class-code to be confirmed Broker Options, exercisable at $0.015 (1.5 cents) each, expiring 30 November 2024 +Security type Options Number of +securities proposed to be issued 45,000,000

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration? Yes In what currency is the cash What is the issue price per consideration being paid? +security? AUD - Australian Dollar AUD 0.00001 Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Options details

+Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.0150 30/11/2024 Details of the type of +security that will be issued if the option is exercised RDN : ORDINARY FULLY PAID Number of securities that will be issued if the option is exercised

One fully paid ordinary share will be issued for every one option exercised.

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement.

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Is the proposed security a 'New Will the proposed issue of this class' (+securities in a class that is +security include an offer of not yet quoted or recorded by ASX) attaching +securities? or an 'Existing class' (additional No securities in a class that is already quoted or recorded by ASX)? New class

Details of +securities proposed to be issued

ISIN Code (if Issuer is a foreign company and +securities are non CDIs)

Have you received confirmation from Will the entity be seeking quotation ASX that the terms of the proposed of the 'new' class of +securities on +securities are appropriate and ASX? equitable under listing rule 6.1? Yes No ASX +security code +Security description New class-code to be confirmed Lead Manager Options, exercisable at $0.015 (1.5 cents) each, expiring 30 November 2024

+Security type

Options

Number of +securities proposed to be issued

24,000,000

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration? Yes

In what currency is the cash What is the issue price per consideration being paid? +security? AUD - Australian Dollar AUD 0.00001

Will all the +securities issued in this class rank equally in all respects from their issue date?

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Yes

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Options details

+Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.0150 30/11/2024

Details of the type of +security that will be issued if the option is exercised

RDN : ORDINARY FULLY PAID

Number of securities that will be issued if the option is exercised

One fully paid ordinary share will be issued for every one option exercised.

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement.

Part 7C - Timetable

7C.1 Proposed +issue date

20/9/2022

Part 7D - Listing Rule requirements

7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? No

7D.1b Are any of the +securities proposed to be issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes

7D.1b ( i ) How many +securities are proposed to be issued without security holder approval using the entity's 15% placement capacity under listing rule 7.1?

Tranche 1 of the Placement, comprising 67,109,738 New Shares (~$470k), is not subject to shareholder approval and will fall within the Company¿s placement capacity under ASX Listing Rule 7.1 (Tranche 1)

7D.1c Are any of the +securities proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? No

7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? No

7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? No

7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? No

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Part 7E - Fees and expenses

7E.1 Will there be a lead manager or broker to the proposed issue? Yes

7E.1a Who is the lead manager/broker?

CPS Capital

7E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker?

1. a management fee of 2% of the total gross proceeds of the Placement for managing the placement.

2. placement fee of 4% of the total gross proceeds of the Placement, for funds raised via the placement.

7E.2 Is the proposed issue to be underwritten? No

7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue

Part 7F - Further Information

7F.01 The purpose(s) for which the entity is issuing the securities

Funds from the Placements (Tranche 1 and Tranche 2) will be used for a 5,000m drilling program at Mt Sholl and for working capital purposes.

7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? No

7F.2 Any other information the entity wishes to provide about the proposed issue

7F.3 Any on-sale of the +securities proposed to be issued within 12 months of their date of issue will comply with the secondary sale provisions in sections 707(3) and 1012C(6) of the Corporations Act by virtue of: The publication of a cleansing notice under section 708A(5), 708AA(2)(f), 1012DA(5) or 1012DAA(2)(f)

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