RAIDEN RESOURCES LIMITED — Capital/Financing Update 2023

Aug 27, 2023

Proposed issue of securities

==> picture [21 x 22] intentionally omitted <==

Update Summary

Entity name

RAIDEN RESOURCES LIMITED

Announcement Type

Update to previous announcement

Date of this announcement

28/8/2023

Reason for update to a previous announcement

Update to previous 3B from 10/8 for issue of shares as the shares are required to be issued with Shareholder approval refer Notice of Meeting, Resolution 4, https://announcements.asx.com.au/asxpdf/20230821/pdf/05svjfndmygwqm.pdf

Refer to next page for full details of the announcement

Proposed issue of securities

1 / 5

Proposed issue of securities

==> picture [21 x 22] intentionally omitted <==

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 Registration Number ABN 68009161522

1.3 ASX issuer code

RDN

1.4 The announcement is

==> picture [8 x 8] intentionally omitted <==

Update/amendment to previous announcement

1.4a Reason for update to a previous announcement

Update to previous 3B from 10/8 for issue of shares as the shares are required to be issued with Shareholder approval refer Notice of Meeting, Resolution 4, https://announcements.asx.com.au/asxpdf/20230821/pdf/05svjfndmygwqm.pdf

1.4b Date of previous announcement to this update

10/8/2023

1.5 Date of this announcement

28/8/2023

1.6 The Proposed issue is:

==> picture [8 x 8] intentionally omitted <==

A placement or other type of issue

Proposed issue of securities

2 / 5

Proposed issue of securities

==> picture [21 x 22] intentionally omitted <==

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 actual? received/condition met? +Security holder approval 22/9/2023 Actual

Comments

Approval to issue consideration shares to Vendor of 40,965,208 sought by shareholders at meeting to be held 22 September 2023, https://announcements.asx.com.au/asxpdf/20230821/pdf/05svjfndmygwqm.pdf

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? No

Details of +securities proposed to be issued

ASX +security code and description

RDN : ORDINARY FULLY PAID

Number of +securities proposed to be issued

40,965,208

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration? No

Proposed issue of securities

3 / 5

Proposed issue of securities

==> picture [21 x 22] intentionally omitted <==

Please describe the consideration being provided for the +securities

Approximately 40,965,208 shares based on VWAP, as noted above to A$365,000 in fully paid ordinary shares of Raiden, based on 20 day VWAP immediately following execution of the agreement (the securities will be subject to a 6 month voluntary escrow period from the date of issue). This is part consideration for the proposed acquisition of E47/4061-3, E47/3849 and P47/2028. Refer to Company ASX announcement.

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

365,000.000000

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

Part 7C - Timetable

7C.1 Proposed +issue date

29/9/2023

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? Yes

7D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1

22/9/2023

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? Yes

7D.4a Please enter the number and +class of the +securities subject to +voluntary escrow and the date from which they will cease to be subject to +voluntary escrow

40,965,208 fully paid ordinary shares (the securities will be subject to a 6 month voluntary escrow period from the date of issue to approx 28 March 2024).

Proposed issue of securities

4 / 5

Proposed issue of securities

==> picture [21 x 22] intentionally omitted <==

Part 7E - Fees and expenses

7E.1 Will there be a lead manager or broker to the proposed issue? No 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

This is part consideration for the proposed acquisition of E47/4061-3, E47/3849 and P47/2028. Refer to Company ASX announcement.

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)

Proposed issue of securities

5 / 5