Ann: PLACEMENT TO FUND EXPLORATION AND RESOURCE REVIEW, page-2

If this kicks off finally they will do well out of that placement.
The grades aren't the greatest but 4.4moz is attractive and those oppies
at .0015c ex will be a bonus.
Amani Gold Limited (ASX: ANL, “Amani” or “the Company” is pleased to announce it has undertaken a private
placement, having received commitments from sophisticated and professional investors for a total of up to $1,000,000
before costs through the issue of 1,000,000,000 shares at an issue price of $0.001 per share. (Placement). Each participant
in the Placement will be offered a 2:1 free attaching listed option (ANLOA) (Option), each exercisable at $0.0015 and
expiring on 15 January 2024. Shares and options will be issued using the Company’s existing placement capacity under
ASX Listing Rule 7.1.
Funds will be allocated to exploration drilling, completion of the Giro resource review and Scoping Studies at the Giro
gold project in the DRC as well as to meet ongoing working capital requirements and to pay for the costs of the
Placement (a 4% capital raising fee on gross proceeds).
About Giro Gold Project
The Giro Gold Project comprises two exploration permits covering a surface
area of 497km² and lies within the Kilo-Moto Belt of the DRC, a significant
under-explored greenstone belt which hosts Randgold Resources’ 17 millionounce
Kibali group of deposits within 35km of Giro. The nearby Kibali Gold
Project produces more than 600,000oz gold per annum.
The Giro Gold Project area is underlain by highly prospective volcanosedimentary
lithologies in a similar structural and lithological setting as the
Kibali gold deposits. Both primary and alluvial gold was mined from two main
areas, the Giro and Tora areas, during Belgian rule and today. Giro Gold
Project global resource for Kebigada and Douze Match deposits exceeds
4.4Moz contained gold; with a total Indicated and Inferred Mineral Resource
Estimate of 132Mt @ 1.04g/t Au, for 4.4Moz gold (0.5g/t Au cut-off grade).
The Kebigada resource followed diamond core drilling results which
successfully targeted deeper high-grade sulphide associated gold
mineralisation within the central core of the Kebigada deposit. Drillholes
GRDD034 and GRDD035 are 240m apart and both outlined high-grade gold
mineralisation deeper than previously intersected at the Kebigada deposit.
These gold assay results and the current Kebigada MRE indicate the
potential for the Kebigada deposit to substantially grow via targeted deeper
drilling along the entire strike of the orebody.