RAIDEN RESOURCES LIMITED — Capital/Financing Update 2023

Aug 7, 2023

ASX RELEASE | 8[th] August 2023

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RAIDEN ENTERS INTO AT-THE-MARKET FINANCE FACILITY

Highlights

• At-the-Market ( ATM ) Facility finalised providing Raiden with standby equity capital of up to $2M over a 3 year term

• Raiden retains full control over all aspects whether and when it could utilise the facility

• ATM facility provides flexibility for the Company to strengthen its balance sheet, as it continues its strategy to advance its Pilbara battery metal projects

Raiden Resources Limited (ASX: RDN) (“Raiden” or “the Company”) is pleased to advise finalisation and entry into an At-theMarket ( ATM ) Financing Deed with 8 Equity Pty Ltd ( Financier ). The ATM facility provides the Company with up to $2,000,000 of standby equity capital over the coming 3 year term ( Term ).

ASX CODE: RDN DAX CODE: YM4

BOARD & MANAGEMENT Non-Executive Chairman Mr Michael Davy

Managing Director Mr Dusko Ljubojevic

Non-Executive Director Mr Dale Ginn

Non-Executive Director & Company Secretary Ms Kyla Garic

Chief Operating Officer Mr Warrick Clent

Raiden Managing Directors, Dusko Ljubojevic commented:

ASSET PORTFOLIO

“The establishment of the ATM facility provides Raiden with diversification of funding tools available to fund exploration and development activities.”

SERBIA

Cu & Au (~150km[2] )

BULGARIA Cu, Au & Ag (~409km[2] )

AUSTRALIA

The key features of the Facility include:

• The Company retains full control over all aspects of the facility having sole discretion whether to use the facility.

Au, Cu, Ni & PGE (~840km[2] )

• During the Term, the Company may issue one or more finance requests specifying:

  • the amount it would like to raise or the number of Shares it would like to sell;

  • the floor price (minimum price) it wishes to raise funds at; and

  • the period over which it wishes the request to be filled.

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P 08 6158 9990 F 08 6268 4926 Suite 7, 63 Shepperton Road, Victoria Park, 6100 Australia

ASX RELEASE | 8[th] August 2023

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• Once the Financier has received a finance request, the Financier will seek to sell Shares on market in accordance with the finance request, but not more than 15% of the daily sales volume of Shares traded on ASX during any given day (without the prior consent of the Company).

• At the end of the sale period, the Financier will provide the Company with the proceeds from the sale of Shares (less costs).

• The Company has the ability to cancel a finance request at any time.

• As security for the obligations owed by the Financier to the Company under the Facility, the Company plans to issue 96M Shares to the Financier at nil cash consideration ( Advance Subscription Shares ), which are subject to shareholder approval.

• At the end of the term of the Facility, if there are Advance Subscription Shares remaining on issue, they will either be cancelled for nil consideration (subject to shareholder approval), sold on market (subject to a floor price to be specified by the Company) with the Company to be provided the proceeds (less costs) or be retained by the Financier at a price to be agreed between the parties.

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 forwardlooking 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 forwardlooking 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

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P 08 6158 9990 F 08 6268 4926 Suite 7, 63 Shepperton Road, Victoria Park, 6100 Australia

ASX RELEASE | 8[th] August 2023

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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 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

Raiden Resources Limited . (ASX:RDN / DAX:YM4) is a dual listed transition energy-metal—gold exploration Company focused on exploring and developing the Mt Sholl Ni-Cu-Co-PGE deposit in the Pilbara region of Western Australia. The Company also has a significant portfolio of gold projects in WA, including the Arrow project, which is located 30km along strike from the Hemi discovery, as well as, projects 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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P 08 6158 9990 F 08 6268 4926 Suite 7, 63 Shepperton Road, Victoria Park, 6100 Australia