NICKELSEARCH LIMITED(NIS)

name changed to Antares Metals Limited

The suspension of trading in the securities of NickelSearch Limited will be lifted immediately following the release by NIS of an announcement regarding a proposed project acquisition and capital raising.

The company is set to acquire a 100% interest in the Mt Isa North Project, covering 2,003km2 in the Mt Isa region, Northwest Queensland, Australia. The project is located within 10km of Glencore's Mt Isa Mining & Processing Complex and is known to host globally significant copper, zinc, aluminum, lead, and uranium deposits. The project also hosts multiple high-grade copper mines and prospects, including the Surprise Mine, Julius Prospect, and Gunpowder Creek Prospect. The project is also an underexplored uranium province with significant scale potential, surrounding Paladin Energy's Valhalla Project, Australia's third-largest uranium resource. NIS plans to launch a fully underwritten pro rata non-renounceable entitlements offer to raise approximately $2.14M, with a record date set for 6 September 2024. The company has an attractive pro-forma valuation of approximately $7.6M and is well-funded to explore with approximately $4.8M cash. The company plans to commence drilling early Q4 CY24, with immediate near-term newsflow aiming to commence drilling in Q4 CY24.

The securities of NickelSearch Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of NIS, pending the release of an announcement regarding a proposed project acquisition and capital raising.

listed entity carried for record purposes only