VIRIDIS MINING AND MINERALS LIMITED(VMM)

The suspension of trading in the securities of Viridis Mining and Minerals Limited will be lifted immediately following the release of an announcement regarding a capital raising.

The company has received firm commitments for a placement to raise A$3.5 million, following the Colossus Project's 140% increase in Mineral Resource Estimate. The funds will be used to accelerate the project's critical path and accelerate mining studies.

The securities of Viridis Mining and Minerals Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of VMM, pending the release of an announcement regarding a capital raising.

The suspension of trading in the securities of Viridis Mining and Minerals Limited will be lifted immediately following the release by VMM of an announcement regarding drill assay results from the Company's Colossus project.

First set of assays for auger and diamond drilling received, confirming a world class Ionic Adsorption Clay discovery. Initial diamond drilling revealed an IAC body ranging from 10 to 20 metres thick with a remarkable weighted average grade of 2,938 ppm Total Rare Earth Oxide at the Fazenda prospect and an even more impressive IAC body was discovered, 15 to 45 metres thick, with a remarkable weighted average grade of 3,460 ppm at Cupim South Prospect. These TREO grades position Colossus to potentially become the highest-grade deposit globally for Ionic Clay Rare Earths. Assays from the first three diamond holes at Cupim South returned outstanding rare earth element rich clay intercepts, all reported from surface. Assays from first two diamond holes at Fazenda returned outstanding REE-rich clay intercepts, all reported from surface. The first set of assay highlights from auger drilling confirms widespread and high-grade IAC REE mineralisation across numerous concessions in the Colossus Project. First-batch of results represent only a tiny portion of the overall exploration program completed to date, and has already demonstrated homogenous high-grade REE mineralisation across multiple Colossus tenements. From the first set of diamond assays, Viridis has achieved an average thickness of 26 metres of the IAC body at Colossus with a remarkable weighted average grade of 3,086ppm. Over 95% of holes intersected >1,000ppm TREO, with all 66 auger holes ending in REE mineralisation and grades increasing at depth. Auger holes which have been shown to intersect through the leached layer into the main IAC body (>20% MREO) have returned an average grade of 2,892ppm TREO. Further, assays from multiple thick diamond clay intercepts are pending, which have already significantly extended far beyond the current auger depths across Colossus. These results mark a major Ionic Adsorption Clay discovery for the Company within the Poços de Caldas Alkaline Complex, with the intention to underpin a world class IAC REE maiden resource estimate. Viridis intends to commence in-depth metallurgical studies in the near-term in parallel to the ongoing exploration program.

The securities of Viridis Mining and Minerals Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of VMM, pending the release of an announcement regarding drill assay results from the Company's Colossus project.

listed entity carried for record purposes only