Antipa Minerals Limited (ASX: AZY) (Antipa or the Company) is pleased to announce that it has received funds from the previously announced placement of approximately 333.7 million fully paid ordinary shares (Shares) at $0.027 per Share raising $9 million (before costs) (Placement).

In addition, on 23 September 2022 funds will be received from Newcrest Mining Limited (Newcrest), which exercised its top-up right to maintain a 9.9% shareholding in the Company. 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 $1 million.

This will result in the total funds raised under both the Placement and Top-Up Placement being approximately $10 million. Following receipt of the Placement and Top-Up Placement funds, Antipa will hold approximately $13 million in cash. 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, including the recently commenced Pre-Feasibility Study and for general working capital purposes.

The Company used its existing capacity under ASX Listing Rules 7.1 and 7.1A to complete the Placement. An Appendix 2A and Section 708A Notice, for the Placement Shares, will follow this release. Antipa will also issue one free attaching unlisted option (Option) for every two new Shares subscribed for and issued pursuant to the Placement and Top-Up Placement. The Options will be exercisable at $0.04 with an expiry date one year from the date of issue. The Placement Options will be issued pursuant to the Company's ASX Listing Rule 7.1 capacity and will be issued coincident with the Options issued under the SPP.

Share Purchase Plan (SPP) Details

As announced on 12 September 2022, Antipa is undertaking a SPP of up to $3 million, enabling existing eligible shareholders 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.

The record date for the SPP is 5:00 pm (Perth time) on Friday, 9 September 2022, and it is open to all eligible shareholders in Australia and New Zealand. The SPP offer period is anticipated to be open from Friday, 23 September 2022 to Monday, 10 October 2022, subject to Antipa's discretion to amend these dates. 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), if demand exceeds $3 million. 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 Friday 23 September 2022 and dispatched to eligible shareholders.

Contact:

Roger Mason

Managing Director

Antipa Minerals Ltd

T: +61 (0)8 9481 1103

Mark Rodda

Executive Director

Antipa Minerals Ltd

T: +61 (0)8 9481 1103

Media

Michael Vaughan

Fivemark Partners

T: +61 (0)422 602 720

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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