Completion of Placement to Zijin Mining

/EIN News/ -- TORONTO, Jan. 08, 2025 (GLOBE NEWSWIRE) -- Xanadu Mines Ltd (ASX:XAM, TSX:XAM) (Xanadu or the Company) is pleased to announce that the placement of 26,515,543 fully paid ordinary shares to Jinping (Singapore) Mining Pte Ltd, a wholly owned indirect subsidiary of Zijin Mining Group Co. Ltd (Zijin), at an issue price of A$0.055 per share, completed today. Details of the proposed placement to Zijin were announced to ASX on 14 November 2024 and 5 November 2024.

Completion follows the satisfaction of all Conditions Precedent under the Share Subscription Agreement with Zijin, including shareholder approval on 20 December 2024.

For further information, please contact:

Colin Moorhead	Spencer Cole
Executive Chairman & Managing Director	Chief Financial Officer
P: +61 2 8280 7497	P: +61 2 8280 7497
E:  colin.moorhead@xanadumines.com	E:  spencer.cole@xanadumines.com
W: www.xanadumines.com

About Xanadu Mines Ltd:

Xanadu is an ASX and TSX listed Exploration company operating in Mongolia. We give investors exposure to globally significant, large-scale copper-gold discoveries and low-cost inventory growth. Xanadu maintains a portfolio of exploration projects and remains one of the few junior explorers on the ASX or TSX who jointly control a globally significant copper-gold deposit in our flagship Kharmagtai project, together with our 50-50 JV partner Zijin Mining Group. For information on Xanadu visit: www.xanadumines.com

This Announcement was authorised for release by Xanadu’s Executive Chairman and Managing Director.