Antipa Minerals Limited (ASX: AZY) (Antipa or the Company) is pleased to announce that it has received binding commitments for a non-underwritten placement to raise approximately $9 million (before costs) through the issue of approximately 333.7 million fully paid ordinary shares (Shares) at $0.027 per share (Placement). The Company will also undertake a Share Purchase Plan (SPP) of up to $3 million, resulting in a total capital raising of up to $12 million (before costs). Antipa will issue one free attaching unlisted option (Option) for every two new Shares subscribed for and issued pursuant to the Placement and SPP. The Options will be exercisable at $0.04 with an expiry date one year from the date of issue.

The Placement was met with strong demand from international and domestic institutions together with sophisticated and professional investors. Euroz Hartleys Securities Limited, Shaw and Partners Limited and Canaccord Genuity (Australia) Limited acted as Joint Lead Managers to the Placement. Antipa's Managing Director, Roger Mason, said: 'The 100%-owned Minyari Dome Project offers Antipa a compelling gold production opportunity in Western Australia's Paterson Province, which is strategically located just 35km from Newcrest's Telfer 22Mtpa processing facility.

Over the last 18 months, we have started to truly unlock the potential of this asset. Given the latent further value capable of being added via the drill bit, we remain committed to continuing a substantial exploration programme across our 144km2 of tenure at Minyari Dome. This raising delivers Antipa the ability to rapidly progress our resource growth drilling at Minyari Dome, as well as the Pre-Feasibility Study and its associated test-work streams. I would like to thank our existing shareholders who supported this capital raising and welcome new shareholders for the next, exciting phase for our business.'

Proceeds from the capital raising will be used to fund ongoing exploration and project development activities at the Company's 100%-owned Minyari Dome Project and for general working capital purposes. Following the recent successful completion of the Scoping Study (refer to the Company's ASX announcement dated 31 August 2022), which confirmed that Minyari Dome Project is a technically robust and commercially attractive potential stand-alone gold mining and processing operation, more detailed project development studies on Minyari Dome are set to continue through the rest of CY2022 and into CY2023. These include the recently commenced PreFeasibility Study (PFS) and further metallurgical test-work. The Minyari Dome Project exploration programme for H2 CY2022 includes a significant diamond core (DD) and reverse circulation (RC) drill programme which commenced in June. This is designed to test a range of gold-copper-cobalt resource growth targets and prospects (summarised in the table below), with particular emphasis on the Minyari deposit.

Share Purchase Plan (SPP) Details

In addition to the Placement, Antipa will undertake a SPP of up to $3 million (before costs), enabling existing eligible shareholders with a registered address in Australia or New Zealand the ability to apply for up to $30,000 of shares at the same price as the Placement. Antipa will also issue one free attaching unlisted Option for every two New Shares subscribed for and issued pursuant to the SPP. The Options will be exercisable at $0.04 with an expiry date one year from the date of issue. Antipa reserves the right (in its absolute discretion, subject to the limit prescribed in the ASX Listing Rules) to scale back applications (in whole or in part), which may result in the SPP raising less than $3 million. Under the SPP, new ordinary shares will be offered at the Placement price of $0.027 per share. The record date for the SPP is 5:00 pm (Perth time) on Friday, 9 September 2022, and is open to all eligible shareholders in Australia and New Zealand. The SPP offer period is anticipated to be open from Wednesday, 21 September 2022 to Friday, 7 October 2022, subject to Antipa's discretion to amend these dates. Antipa reserves the right to close the SPP early from any point after applications totalling at least $3 million have been received. Further information regarding the SPP (including terms and conditions of the SPP) will be provided to eligible shareholders in a prospectus, which is expected to be lodged with ASIC and ASX on - Wednesday, 21 September 2022 and dispatched to eligible shareholders.

Antipa is a mineral exploration company focused on the Paterson Province in north-west Western Australia, home to Newcrest Mining's world-class Telfer gold-copper mine, Rio Tinto's Winu copper-gold deposit, NewcrestGreatland Gold's Havieron gold-copper deposit and other significant mineral deposits. Having first entered the Paterson in 2011 when it was a less sought-after exploration address, the Company has used its early mover advantage to build an enviable tenement holding of ~5,100km2 , including the ~1,200km2 Citadel Joint Venture Project with Rio Tinto (who currently holds a 65% joint venture interest), the ~2,200km2 Wilki Project that is subject to a $60 million Farm-in and Joint Venture Agreement with Newcrest (who is yet to earn a joint venture interest) and the ~1,500km2 Paterson Project that is subject to a $30 million Farm-in and Joint Venture Agreement with IGO (who is yet to earn a joint venture interest). Antipa retains 144km2 of the 100%-owned Minyari Dome Project which contains a significant Mineral Resource, with the Minyari and WACA deposits containing 1.8 million ounces of gold and 64,300 tonnes of copper, and a Scoping Study Mining Inventory of 21.4 million tonnes at 1.6 g/t gold for 1.1 million ounces of gold, plus other deposits and high quality exploration targets. The Citadel Project lies within 5km of the Winu deposit and contains a Mineral Resource of 2.4 million ounces of gold and 162,000 tonnes of copper from two deposits, Calibre and Magnum. Unlike certain parts of the Paterson where the post mineralisation (younger) cover can be kilometres thick, making for difficult exploration, the Company's combined 5,100km2 tenement portfolio features relatively shallow cover; approximately 80% being under less than 80 metres of cover. Extensive drilling programmes, geophysical and surface geochemical surveys are planned for 2022 across Antipa's combined Paterson tenement portfolio as the company pursues a multi-layered strategy of targeting tier-one greenfields discoveries, growing its existing resources through brownfields exploration and advancing potential development opportunities.

This document may include forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning Antipa Mineral Ltd's planned exploration programme and other statements that are not historical facts. When used in this document, the words such as 'could,' 'plan,' 'estimate,' 'expect,' 'intend,' 'may,' 'potential,' 'should,' and similar expressions are forward-looking statements. Although Antipa Minerals Ltd believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements.

Competent Persons Statement - Exploration Results

The information in this document that relates to Exploration Results is based on and fairly represents information and supporting documentation compiled by Mr Roger Mason, a Competent Person who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Mason is a full-time employee of the Company. Mr Mason is the Managing Director of Antipa Minerals Limited, is a substantial shareholder of the Company and is an option holder of the Company. Mr Mason has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcements, all of which are available to view on www.antipaminerals.com.au and www.asx.com.au. Mr Mason, whose details are set out above, was the Competent Person in respect of the Exploration Results in these original market announcements.

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