RAIDEN RESOURCES LIMITED — Capital/Financing Update 2024

Nov 17, 2024

ASX RELEASE 18 November 2024

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ARROW GOLD PROJECT DRILLING UPDATE

ASX CODE: RDN DAX CODE: YM4

Highlights

• The Air Core drilling program over the Arrow gold project has been completed on schedule[1]

• The program comprised of 79 drill holes

• Samples collected from the program have been dispatched to the laboratory for analysis

• All activities for gold exploration on the project are financed by the JV partner, Mallina Co Pty Ltd (“Mallina”), with Raiden retaining 100% of the Lithium-Caesium-Tantalum (LCT) rights[2]

Raiden Resources Limited (ASX: RDN DAX: YM4) (“Raiden” or “the Company”) is pleased to provide an update in regard to the Air Core drilling program on the Arrow Gold Project.

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 Sean Halpin

ASSET PORTFOLIO

AUSTRALIA

Li, Au, Cu, Ni & PGE

BULGARIA Cu, Au & Ag

Mr Dusko Ljubojevic, Managing Director of Raiden commented:

“ The drilling program at Arrow has been successfully completed and we eagerly await the results. These findings will guide the next phase of activities for the project. We will update the market on future plans once the results have been analysed and Mallina provides direction.”

SERBIA

Cu & Au

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ASX RELEASE 18 November 2024

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Figure 1: Arrow Gold Project location in relation to associated infrastructure and portfolio projects

Arrow Gold Project Drilling Program

The Air Core drilling program, which was designed to evaluate Hemi-style orogenic gold targets previously identified by Raiden on tenement E47/3476 is completed. Drilling focused on targets associated with magnetic intrusive bodies, shear zones and hydrothermal alteration[3] . Mallina’s program comprised of 79 drill holes, targeting six areas considered prospective for this style of mineralisation, which were previously based on soil sampling programs and magnetic data evaluations.

The samples have been dispatched to the laboratory and analysed. The Company will provide an update to the market once the results are available.

About Arrow Gold Project

Geological mapping, soil sampling, detailed magnetic surveys and RC drilling executed over the Arrow Project in the Pilbara region of Western Australia has defined a number of gold exploration targets through the project area[3] . The project is centred 110 kilometres southwest of Port Hedland and overlies part of the highly prospective Mallina Basin. Given

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ASX RELEASE 18 November 2024

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its location is only ~32 kilometres from De Grey Mining's (ASX: DEG) Hemi gold deposit[4] , along the same structural trend, management believe that the area has substantial potential to host significant orogenic gold mineralisation. Raiden's Arrow licences cover Mesoarchean Mallina Basin rocks and later intrusions. Mallina Basin rocks exposed in the area are primarily De Grey Group siliciclastic turbidites. Layered mafic-ultramafic sills, part of the regionally extensive Millindinna intrusion, intruded the turbidites. Later granitic intrusions comprise ~2.95 Ga high Mg diorite (the Peawah Granodiorite of the Sisters Supersuite) and 2.94-2.93 Ga monzogranite (the Satirist Granite). The district scale Wohler Shear, which hosts gold mineralisation along strike to the northeast, transects the project area.

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Figure 2: Arrow Gold Project Location in relation to nearby gold prospects[4 ]

About Mallina Co Pty Ltd

Mallina Co Pty Ltd is a wholly owned subsidiary of Discover Co Pty Ltd, a private unlisted company which invests in high potential copper and gold discovery opportunities in Australia.

This ASX announcement has been authorised for release by the Board of Raiden Resources Limited.

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ASX RELEASE 18 November 2024

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FOR FURTHER INFORMATION PLEASE CONTACT

DUSKO LJUBOJEVIC

Managing Director

RAIDEN RESOURCES LIMITED

info@raidenresources.com.au

www.raidenresources.com.au

ASX Announcements referenced to directly in this release

1ASX:RDN 07 November 2024 Andover South Drilling Update

2ASX:RDN 09 May 2024 Raiden enters into option agreement over Arrow Gold Project

3ASX:RDN 16 March 2022 Drilling results from Arrow Project and Company Update

4ASX:DEG 21 November 2023 Hemi Gold Project Resource Update – November 2023

Competent Person's Statement and Compliance Statement

The information referenced in announcements footnoted 1 to 3 above that relates to Exploration Results have previously been released to the ASX. The Company confirms that it is not aware of any information or data that materially affects the information included in the market announcements, and that all material assumptions and technical parameters underpinning the announcements continue to apply. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements.

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ASX RELEASE 18 November 2024

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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 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 lithium, base metal—gold exploration Company focused on the Andover North-South, Mt Sholl and Arrow lithium projects. The Company also holds the rights to the advanced Mt Sholl nickel-copper-cobalt-PGE and the Arrow gold projects in the Pilbara region of Western Australia. In addition, the Company holds the rights to multiple 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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