$5.7M PLACEMENT TO DRIVE DRILLING AT LEONORA GOLD PROJECTS

Arika Resources accelerates exploration across Yundamindra and Kookynie targets

Arika Resources Limited (ASX:ARI) has secured $5.7 million through a heavily supported share placement to new and existing investors, aimed at accelerating exploration at its flagship Yundamindra and Kookynie Gold Projects in Western Australia.

The placement was oversubscribed and upsized, with strong participation from institutional and sophisticated investors. It included a $0.65 million commitment from directors, who will take part on the same terms as other investors, at an issue price of $0.024 per share.

Proceeds will fund ongoing drilling at key targets, particularly the Pennyweight Point prospect, where over 20,000 metres have already been drilled, and assays are pending for 37 holes, including approximately 5,500 metres from Pennyweight Point alone.

Additionally, Arika finalised the sale of Admiral Bay, securing a further ~$1.2 million in funding, referenced in the company’s 20 October 2025 ASX announcement.

Arika’s Managing Director, Justin Barton, said:
Having already drilled more than 20,000 metres across the Yundamindra and Kookynie Projects since the middle of the year, we are now entering a particularly exciting phase with a major drilling program well underway at the priority Pennyweight Point prospect.

As a result of the work completed over the past year, our technical team led by Steve Vallance now has a much clearer picture of the breakthrough opportunities that lie within these under-explored projects.

Our near-term focus will be at Pennyweight Point and Landed at Last, which are the most advanced prospects for near-term resource definition and discovery success, and we have a multitude of priority targets to test in the coming months.

I would like to thank all shareholders who participated in this capital raising and welcome the new investors who are joining us for the journey. The next few months will be a very exciting time for Arika, and we are looking forward to unlocking the value of these assets for our shareholders.

In addition, we are pleased to advise that the Admiral Bay sale has completed, providing further funds to accelerate drilling.