New Age Exploration Limited Secures AU$3.75 Million to Accelerate Exploration

Highlights:

• New Age Exploration Limited (ASX: NAE) has secured AU$3.75 million in funding through a strongly backed share placement, aimed at advancing drilling and exploration programs at its Wagyu Gold Project in Western Australia and Lammerlaw Gold Project in New Zealand.
• The company plans to commence a 4,000-metre Reverse Circulation (RC) drilling campaign at Wagyu — located just 5 km west of Northern Star’s 11.2Moz Hemi deposit — targeting “Hemi-style” gold mineralisation zones.
• The capital raise, priced at AU$0.0025 per share (a 16.7% discount to the last traded price), positions NAE to deliver strong exploration momentum and consistent news flow through late 2025 and beyond.

Strong investor backing fuels exploration plans

At the time of writing, New Age Exploration Limited (ASX: NAE) has received firm investor commitments to raise AU$3.75 million (before costs) through a placement of new fully paid ordinary shares, providing fresh capital to accelerate its upcoming drilling and exploration programs. This capital-raising effort was met with strong support from existing shareholders and new high‐net‐worth and institutional investors, illustrating confidence in the company’s gold exploration strategy.

Where the funds will be directed

Funds raised from the placement will be directed towards drilling and exploration programs at two priority gold assets — the Wagyu Gold Project in Central Pilbara, Western Australia, and the Lammerlaw Gold Project in Otago, New Zealand. At Wagyu, located approximately 5 km west of Hemi Gold Deposit, recent analysis has identified “Hemi-style” quartz diorite intrusives with strong alteration signatures. The company intends to launch a ~4,000 metre Reverse Circulation (RC) drilling campaign in the coming weeks, targeting both depth and strike extensions. In parallel, at Lammerlaw the funding supports follow-up RC drilling to test strike continuation and high-grade shoots in a setting analogous to the Macraes gold-shear system.

Capital structure and discount detail

The placement comprises two tranches: Tranche 1 involves ~602 million new shares (~AU $1.51 million) within the company’s placement capacity, and Tranche 2 relates to ~898 million new shares (~AU $2.24 million) subject to shareholder approval. The offer price of A$0.0025 per new share reflects a 16.7% discount to the company’s last traded price of A$0.003 (as of 21 October 2025) and a 16.5% discount compared to the 10-day volume-weighted average price (VWAP).

Why this matters

This capital raise places New Age in an enhanced position to progress meaningful drilling at two highly prospective gold projects. With drilling permits already in place and analytical data pointing to strong targets, the company is poised for regular news flow and exploration advancement. While the placement dilutes current shareholders, the strong investor uptake signals belief in the upside potential of the Projects.

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