A$6 Million Placement to Advance the Sorby Hills Project

Boab Metals Limited (ASX: BML) successfully completed a A$6.0 million capital raising through a Placement to advance the Sorby Hills Lead-Silver-Zinc Project. The funds will be used for pre-development expenditure, workers camp refurbishment, project finance costs, and exploration activities. Existing and new investors showed strong support, with the Placement oversubscribed. The capital injection will allow for increased pre-development activities and exploration, including follow-up drilling at the Keep Target. This progress aligns with the company's commitment to unlocking further resource potential at Sorby Hills.<br/><br/>The issue price of A$0.16 per share through the Placement represents a discount to the last traded share price, providing investors with an opportunity to participate in the company's growth at an attractive entry point. The allocation of funds will support various aspects of the project, including pre-development costs, early site works, workers camp refurbishment, project finance, and working capital purposes. This financial flexibility will enable Boab to expand exploration programs and advance Sorby Hills towards development.<br/><br/>For more information or questions regarding this announcement, please contact Managing Director & CEO, Simon Noon at +61 (0)8 6268 0449 or info@boabmetals.com. Boab Metals Limited is committed to providing updates to the market as the Sorby Hills Project progresses, and is excited to continue advancing towards development and exploration success.