Augustus Minerals Limited (ASX: AUG; Augustus or the Company) is pleased to announce that it has received commitments from institutional, professional and sophisticated investors to raise $1,667,500 (Placement).

Under the placement, AUG will issue up to 23,821,430 fully paid ordinary shares (Shares) at an issue price of $0.07 per Share. The Placement includes one (1) attaching unlisted option (Options) for every two (2) Placement Shares. The Options will be exercisable at $0.12 each expiring 2 years after the date of issue.

Funds raised through the Placement will be used for the following: Deep Diamond drilling at the very large Minnie Springs Cu-Mo Porphyry system to test the core of the system for high-grade Copper Sulphide mineralisation. The initial 2 x 700m deep holes planned for Q3, 2024 is with assistance from the cofunded Government EIS drilling grant of up to $110,000 as announced 2 May 2024. Success in the first two planned holes will justify additional diamond drilling to further expand the Minne Springs Porphyry system

GM Exploration Commented: 'The Augustus Board are very pleased with the overwhelming support for the placement and thank existing and new sophisticated investors for their support that positions the Company to advance exploration at the Ti-Tree project. The heavily oversubscribed placement demonstrates the strong interest in the EIS Supported drill program at the Minnie Springs Cu-Mo Porphyry system as well as continued exploration at the recently discovered Tiberius, Claudius, Justinian and South Snowy gold-copper-gold-silver prospects. The next six months will be an exciting period of exploration activity for the Company and the team are looking forward to the results'. The Placement Shares will be issued utilising the Company's existing Listing Rule 7.1 and 7.1A capacity. The Company will seek shareholder approval for the issue of Options. Evolution Capital Pty Ltd (Evolution) and Morgans Corporate Limited (Morgans) acted as joint lead managers to the Placement

Authorised by the board of Augustus Minerals Limited. Enquiries For more information contact: Andrew Ford GM Exploration Augustus Minerals Limited aford@augustusminerals.com.au +61 6458 4200 Brian Rodan Executive Chairman Augustus Minerals Limited brodan@augustusminerals.com.au +61 6458 4200

About Augustus Minerals (ASX:AUG) Augustus is a mineral explorer committed to exploring for critical minerals vital for the advancement of electric vehicles and renewable energy. Augustus has 100% ownership of 3,600km2 of tenements located in the Gascoyne Region of Western Australia with an array of high quality drill targets which is highly prospective for lithium, rare earths and copper. The Company is led by senior executives with significant local critical minerals experience in finding, developing and operating mines.

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