Critical Raises $1.8M at $0.008 per Share with Attaching Options for Exploration

Strategic Capital Raise to Accelerate Exploration

Critical Resources Limited (ASX, CRR) has successfully secured $1.8 million through a placement priced at 0.8 cents per share, accompanied by a 1-for-2 attaching option exercisable at the same price until April 2028. This capital injection comes with strong backing from both new and existing sophisticated investors, including a significant $435,000 commitment from the company's board and management, pending shareholder approval.

The funds are earmarked primarily to advance maiden drilling programs at the company’s flagship gold-antimony projects, Amoco in New South Wales and Cap Burn in New Zealand. These projects represent Critical Resources’ strategic focus on metals critical for sustainable technologies, with gold and antimony playing key roles in emerging industrial applications.

Upcoming Drilling Programs and Project Highlights

The Amoco project, part of the Halls Peak tenure in NSW’s New England Fold Belt, is poised for drilling commencement in early October. Surface sampling at Amoco has revealed promising high-grade mineralisation, including gold grades up to 17.9 grams per tonne and antimony up to 0.7%. The project benefits from proximity to established operations such as Larvotto Resources’ Hillgrove project, underscoring its potential scale and economic value.

Meanwhile, the Cap Burn project in New Zealand’s Otago region is set for initial drilling in November, contingent on ministerial approval for permit transfer. Cap Burn shares structural similarities with the nearby Macraes gold camp and Santana Minerals’ Rise and Shine discovery, both notable for high-grade gold mineralisation. The project’s location in a Tier-1 mining jurisdiction with supportive government initiatives adds to its appeal.

Broader Portfolio and Strategic Outlook

Beyond these gold-antimony ventures, Critical Resources continues to advance its Mavis Lake Lithium Project in Canada, where extensive drilling has defined a maiden inferred resource. The placement proceeds will also support ongoing low-cost workstreams at Mavis Lake and general corporate working capital, ensuring the company maintains operational momentum across its diversified portfolio.

CEO Tim Wither expressed confidence in the placement’s strong support, highlighting the company’s readiness to leverage upcoming exploration results. The participation of senior management and directors signals internal conviction in the projects’ potential and the company’s strategic direction.

With drilling programs imminent and exploration activities ramping up, Critical Resources is positioning itself to unlock value from its gold-antimony assets while maintaining a foothold in lithium, a metal critical to the energy transition.