White Rock Successful Completion of $2.4 million Placement

Very interesting they seem to keep raising capital despite the knocks.





Successful Completion of $2.4 million Placement

White Rock Minerals Limited (ASX:WRM; OTCQX:WRMCF) (White Rock) today announces the
successful completion of the placement of fully paid ordinary shares (Shares) to institutional and
sophisticated investors, as announced on 4 May 2022 (Placement). The Placement raised $2.4 million
(before costs).
A total of 15,979,003 Shares have been issued under the Placement at an issue price of $0.15 (15 cents)
per Share. The Shares issued under the Placement will rank equally with existing shares.
The proceeds from the Placement will be used for:
• recruitment, re-capitalisation, pre-production development and commencement of gold production at
the Morning Star Gold Mine, Victoria. Included is the continuation of one diamond drill to continue to
delineate near-term ore sources as well as expansion by testing the Gap Zone;
• It is intended to re-start under the currently permitted Dayshift Only and work to secure 24/7
permitting to double the production capacity;
• Red Mountain Care & Maintenance – commitment for further exploration expenditure once the
Morning Star Gold Mine reaches nameplate production and cash flow breakeven and expected
funding is received from the exercise of any Options; and
• working capital.

Viriathus Capital Pty Ltd and Sanlam Private Wealth Pty Ltd acted as joint lead managers to the
Placement.

Unlisted Options at the ratio of 1 for 2 Shares issued under the Placement will be subject to Shareholder
approval at the next General Meeting of the Company, planned for late-June 2022.
Please see the Appendix 2A and Cleansing Notice in relation to the issue of the Shares also announced
today.

Yours faithfully,
Shane Turner
Company Secretary
White Rock Minerals Limited

This announcement has been authorized for release by the board.
ASX: WRM • OTCQX: WRMCF • [email protected] • www.whiterockminerals.com.au
Contacts
For more information, please contact:
Mr Matthew Gill
Managing Director & CEO
[email protected]

Mr Simon Pitaro
Media & Investor Relations
[email protected]

About White Rock Minerals

White Rock Minerals is an ASX listed explorer and near-stage gold producer with three key assets:
• Woods Point – New asset: Victorian gold project. Bringing new strategy and capital to a large
660km2 exploration land package and high-grade gold mine (past production 883,000oz @
26g/t).
• Red Mountain / Last Chance – Key Asset: Globally significant zinc–silver VMS polymetallic and
IRGS gold project. Alaska – Tier 1 jurisdiction.
• Mt Carrington – Near-term Production Asset: JORC resources for gold and silver, on ML with a
PFS and existing infrastructure, with the EIS and DFS being advanced by JV partner.