RAIDEN RESOURCES LIMITED — Capital/Financing Update 2023

Dec 10, 2023

ASX RELEASE | 11[th] December 2023

FUNDS RAISED THROUGH AT-THE-MARKET FACILITY

HIGHLIGHTS

QUICK STATS ASX Code: RDN DAX Code: YM4

• At-the-Market Facility utilised raising net proceeds of ~$833,524 at an issue price of ~$0.075 per Share, which, based on the Company’s last share close price, represents an ~88% premium

• Finance request ended, with the Company not obligated to draw down any further funds

• 83,850,000 advance subscription shares remain available from the previously issued 96,000,000 facility shares

• Funds raised will primarily be used to further advance the Company’s projects

• As at the 11/12/2023, the Company now has ~$7,946,760 cash in the bank

BOARD & MANAGEMENT

Non- Executive Chairman Mr Michael Davy

Managing Director Mr Dusko Ljubojevic

Non-Executive Director Mr Dale Ginn

Chief Operating Officer Mr Warrick Clent

Non-Executive Director & Company Secretary Ms Kyla Garic

Mr Dusko Ljubojevic, Managing Director of Raiden commented: “Having defined pegmatite mineralisation and lithium mineralisation across multiple projects in the Pilbara, we are pleased to have secured additional capital for the Company to advance an aggressive exploration campaign across all our projects. The Company is also delighted that although shareholder approval was received to issue 96m shares to 8 Equity Pty Ltd for the At-the-Market facility to raise $2m, the Company has utilised only ~12m shares to raise nearly $1m dollars, which we consider an excellent outcome.”

ASSET PORTFOLIO

AUSTRALIA

Li, Au, Cu, Ni & PGE

SERBIA

Cu, Co & Au

BULGARIA

Raiden Resources Limited (ASX: RDN DAX: YM4) (Raiden or the Company) is pleased to announce that it has utilised it’s At-the-Market Financing Deed with 8 Equity Pty Ltd ( Financier ) to raise net proceeds after costs of ~$833,524, through the set-off of 12,150,000 Advance

Cu, Au & Ag

Subscription Shares previously issued to the Financier, at an average deemed share price of ~$0.075 per Share ( Advance Subscription Shares ).

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

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ASX RELEASE | 11[th] December 2023

Based on the Company’s last close share price on the 8/12/2023, the issue price of the Advance Subscription Shares represents a premium of ~88%. Further details regarding the Financing Deed is set out in the Company’s 8 August 2023 ASX announcement.

The 12,150,000 Advance Subscription Shares reduce the total 96,000,000 Advance Subscription Shares initially issued to the Financier to 83,850,000 Advance Subscription Shares, which the Company may (but is not obligated to) draw down on to raise further funds.

	No. of shares	Net Proceeds
Advance Shares issued to 8	96,000,000	-
Equityon the 14/11/2023
Set-off Advance subscription	(12,150,000)	$833,524.39
shares@deemedprice$0.07528
Remaining Advance	83,850,000	-
subscription shares held in
trust as at 11/12/2023

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

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

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ASX RELEASE | 11[th] December 2023

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 Limited

(ASX:RDN / DAX:YM4) is a dual listed lithium, base metal—gold exploration Company focused on the Andover NorthSouth, Mt Sholl and Arrow lithium projects. The Company also holds the rights to the advanced Mt Sholl nickel-coppercobalt-PGE and the Arrow gold projects in the Pilbara region of Western Australia. In addition, the Company holds licences in the emerging and prolific Western Tethyan metallogenic belt in Eastern Europe, where it has established a significant exploration footprint in Serbia and Bulgaria.

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

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