Antipa Minerals Limited - NEWCREST EXERCISES TOP-UP RIGHT TO MAINTAIN 9.9% SHAREHOLDING

Antipa Minerals Limited (ASX: AZY) (Antipa or the Company) is pleased to announce that major shareholder, Newcrest Mining Limited (Newcrest), has notified Antipa of its intention to exercise its top-up right (to maintain its 9.9% shareholding in Antipa) following the $9.0 million placement announced earlier this week (Placement) (see Antipa ASX release dated 12 September 2022, Successful $9M Placement and Launch of $3M SPP).

The exercise of this right will see Antipa issue an additional approximately 36.7 million fully paid ordinary shares at $0.027 per share (Top-Up Placement) to raise a further approximately $1.0 million (before costs). This will result in the total funds raised under both the Placement and TopUp Placement being approximately $10.0 million. Newcrest has also notified Antipa of its intention to exercise its top-up right again following completion of Antipa's recently announced Share Purchase Plan (SPP) of up to $3.0 million (see Antipa ASX release dated 12 September 2022, Successful $9M Placement and Launch of $3M SPP).

Antipa's Managing Director, Roger Mason, said: 'We warmly welcome Newcrest's ongoing support for Antipa and its Paterson Province portfolio and strategy, including our rapidly emerging 100%-owned Minyari Dome Gold Project.'

Placement Details

The Top-Up Placement will see Antipa issue an additional 36,666,667 shares in the Company at an issue price of $0.027 to raise approximately $1.0 million (before costs). The Top-Up Placement price of $0.027 is equal to the issue price for the Placement. In-line with the Placement terms, Antipa will issue one free attaching unlisted option (Option) for every two new shares issued pursuant to the Top-Up Placement. In-line with the Placement terms, the Options will be exercisable at $0.04 with an expiry date one year from the date of issue.

Antipa will issue the Top-Up Placement shares in a single tranche under its ASX Listing Rule 7.1 placement capacity. The Top-Up Placement shares are expected to settle on Friday, 23 September 2022 and to be issued on Monday, 26 September 2022. The Top-Up Placement Options will be issued pursuant to the Company's ASX Listing Rule 7.1 capacity and will be issued coincident with the Placement Options and Options issued under the SPP

Contact:

Roger Mason

Managing Director

Antipa Minerals Ltd

T: [phone]

Mark Rodda

Executive Director

Antipa Minerals Ltd

T: [phone]

Media

Michael Vaughan

Fivemark Partners

T: [phone]

About Antipa Minerals

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.

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