Kingfisher Mining (ASX:KFM) Acquires NSW Copper-Gold Assets, Launches AUD 1.85M Capital Raise, Shares Up Nearly 60%

Kingfisher Mining Limited (ASX:KFM) has announced the acquisition of a suite of early-stage to advanced-stage exploration assets in New South Wales through a binding agreement with Austin Metals Ltd. The deal includes 11 tenements spanning approximately 700 square kilometres and covers key copper-gold, gold, and silver-lead-zinc prospects in three well-established mining jurisdictions: Broken Hill, Cobar, and the Macquarie Arc. The acquisition includes the Copper Blow Iron Oxide Copper Gold (IOCG) Project, multiple silver-lead-zinc prospects in the Broken Hill region, the Wellington Copper Project within the Macquarie Arc, and the Tindery Gold-Base Metals Project near Cobar. The combined tenement package is being acquired for a total consideration of AUD 400,000 split equally between cash and Kingfisher shares.

The Copper Blow project hosts high-grade copper-gold mineralisation supported by historical drill results such as:

• 16m at 2.67% Cu, 0.62 g/t Au, and 4.04 g/t Ag from 133m,
• 4m at 6.13% Cu and 4.23 g/t Au from 188m,
• 41.2m at 1.27% Cu, including 7m at 2.23% Cu and 0.99 g/t Au from 189m.

Meanwhile, the West Broken Hill tenements cover several silver-lead-zinc targets near historic mine sites. Recent drilling in 2011 at the Allendale prospect returned intercepts such as 10m at 16.1% Pb+Zn and 29 g/t Ag from 15m. The Wellington Copper Project is located within the prospective Macquarie Arc volcanic stratigraphy, close to Alkane Resources’ Boda-Kaiser porphyry copper-gold discovery. Tindery, located north of Cobar, contains several historical gold workings along a major regional fault zone. To support the exploration of these assets and the continued advancement of its Mick Well Rare Earths Project in Western Australia, Kingfisher has also announced a two-part capital raising of approximately AUD 1.85 million.

The placement component has secured AUD 520,000 from institutional and sophisticated investors through the issue of 13 million shares at AUD 0.04 per share. Investors will also receive one free-attaching option for every two shares subscribed, exercisable at AUD 0.10 and expiring three years from issue. The offer price represents an 18% discount to the 10-day VWAP and a 17.6% discount to the 15-day VWAP. The second component is a pro-rata non-renounceable entitlement offer to existing shareholders, aiming to raise up to approximately AUD 1.33 million. Shareholders will be offered one new share for every two shares held as of the 12 August 2025 record date, with the same free-attaching option structure as the placement. A total of 33.36 million new shares and 16.68 million options are expected to be issued under this offer.

CPS Capital Group has been appointed as the lead manager for both the placement and entitlement issue and will be entitled to a 6% fee on total funds raised. Subject to shareholder approval, CPS Capital will also receive 6.5 million options on the same terms. Proceeds from the capital raise will be directed toward exploration activities across the newly acquired New South Wales projects, continued assessment of the Mick Well rare earths project, general working capital, and costs associated with the capital raising.

Kingfisher's Non-Executive Chairman, Scott Huffadine, stated that the acquisition is the result of a year-long project evaluation effort and provides exposure to several mineral-rich districts in NSW while maintaining the company’s rare earths footprint in Western Australia. The company plans to release a transaction-specific prospectus for the rights issue on 6 August 2025.