Cassius Mining : Capital Raising

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ASX ANNOUNCEMENT

11 July 2022

CAPITAL RAISING

Cassius Mining Limited ("Cassius" or "the Company") (ASX: CMD) is pleased to announce that it has today lodged a prospectus prepared in accordance with section 713 of the Corporations Act with ASIC in relation to its proposed capital raising to raise gross proceeds of $1.372 million ("the Offer") ("Prospectus"1). A copy of the Prospectus is attached to this announcement.

Under the Prospectus, Cassius is offering to issue 80,748,180 new shares (New Shares) at an issue price of $0.017 per New Share and will issue these New Shares under its available Listing Rule 7.1 and 7.1A placement capacity. An Appendix 3B for the New Shares will be released to the ASX following this announcement.

Use of proceeds as outlined in the Prospectus

The Company intends to use the gross proceeds raised under the Offer in the following manner:

(Proposed) Use of Funds		Amount in A$
	Q1 FY23	Q2 FY23	Q3 FY23	TOTAL
Fund the Phase 2 & Phase 3 drilling & exploration	$224,000	$168,000	$168,000	$560,000
programmes at Soalara
Conduct an interim JORC Resource evaluation in	$0	$40,000	$0	$40,000
relation to Soalara
Fund preliminary exploration activities on the Tanzanian	$25,000	$25,000	$25,000	$75,000
Prospecting Licences
Repay the loan referred to in Section 1.1 of the	$429,250	$0	$0	$429,250
Prospectus
General working capital (including to pay for the costs of	$90,000	$58,469	$120,000	$268,469
the Offer) purposes
Total				$1,372,719

Applicants should note that the above estimated expenditures will be subject to modification on an ongoing basis depending on the progress of the Company's activities.

This has been authorised and approved by the board of Cassius for release.

• The Prospectus will be made available by contacting the Company or via the Company's website. A person should consider the Prospectus in deciding whether to acquire any New Shares. Any application for New Shares must be made in accordance with the Prospectus.

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FURTHER INFORMATION

James Arkoudis, Director	e: [e-mail]
Wayne Kernaghan, Director/Co. Secretary	t: [phone], e: [e-mail]

Ghana Office	Madagascar Office	Cassius Mining Limited	Sydney Office
HNO. 4, 9th Street,	Lot ll 99 ABA		Suite 18 Level 4
Adjiringanor	Soavimasoandro,	ACN 115 027 033	3 Spring Street
Greater Accra, GHANA	Antananarivo,		Sydney NSW 2000
P.O Box GP 17867	MADAGASCAR	www.cassiusmining.com	AUSTRALIA
ACCRA			PO Box R383
			Royal Exchange
			NSW 1225

For personal use only

Cassius Mining Limited

ACN 115 027 033

Prospectus

For the offer and issue of 80,748,180 new Shares at an issue price of $0.017 per Share to raise gross proceeds of $1,372,719.

Important Notice: This Prospectus is a transaction specific prospectus prepared in accordance withthe requirements of section 713 of the Corporations Act. This is an important document that should be read carefully and in its entirety. Please read the instructions in this Prospectus (and on the accompanying Application Form) if you wish to apply for Shares under this Prospectus. If you do not understand this document or you are unsure whether to apply for Shares you should consult your stockbroker, lawyer, accountant or other professional adviser without delay. An investment in the Shares the subject of thisProspectus should be regarded as a highly speculative investment.

NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES

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Table of contents

	IMPORTANT INFORMATION
only	KEY OFFER INFORMATION
1	COMPANY & OFFER OVERVIEW
	2	DETAILS OF THE OFFER
	3	PURPOSE AND EFFECT OF THE OFFER
	4	RISK FACTORS
use	5	ADDITIONAL INFORMATION
6	DIRECTORS' AUTHORISATION
	7	GLOSSARY
	SCHEDULE (SOLICITOR'S TENEMENT REPORTS)
For personal	CORPORATE DIRECTORY

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For personal use only

Important information

1. General
   This prospectus (Prospectus) relates to the offer for issue of 80,748,180 new fully paid ordinary shares (each, a Share) in Cassius Mining Limited ACN 115 027 033 (Company or Cassius) at an issue price of $0.017 per Share (Issue Price) to raise gross proceeds of $1,372,719 (Offer).
2. Transaction specific prospectus
   This Prospectus is a transaction specific prospectus for an offer of continuously quoted securities (as defined in the Corporations Act 2001 (Cth) (Corporations Act)) and has been prepared and issued by the Company in accordance with the requirements of section 713 of the Corporations Act.
3. Lodgment and Official Quotation
   This Prospectus is dated 11 July 2022 and a copy of this Prospectus was lodged with the Australian Securities and Investments Commission (ASIC) on that date. Cassius will apply to ASX Limited (ASX) for Quotation of the new Shares the subject of the Offer within 7 days after the date of this Prospectus.
4. Expiry date
   This Prospectus expires on 11 August 2023, being the date which is 13 months after the date of this Prospectus. No Shares will be offered or issued under this Prospectus after 11 August 2023.
5. No responsibility
   Neither ASIC nor ASX (or either of their respective officers) take any responsibility for the contents of this Prospectus or the merits of the investment to which this Prospectus relates. Furthermore, neither the Company nor the Share Registry (or any of their respective officers, employees, directors, agents or professional advisers) accept any responsibility, whether in negligence or otherwise, to persons who deal in Shares before receiving their updated holding statements.
6. Prospectus availability
   During the Offer Period, a paper copy of this Prospectus will be available to Eligible Investors free of charge by contacting the company secretary on 0407 233 153 or via email at [e-mail]. In addition to issuing this Prospectus in printed form, a read-only version of this Prospectus will also be available on the Company's website at www.cassiusmining.com. Any person accessing the electronic version of this Prospectus for the purpose of making an investment in the Company must, subject to a limited number of exceptions, be an Australian resident and must only access this Prospectus from within Australia. The Corporations Act prohibits any person passing onto another person the Application Form unless it is attached to a hard copy of this Prospectus or it accompanies the complete and unaltered electronic version of this Prospectus.
7. Publicly available information
   Information about the Company is publicly available and can be obtained from ASIC and ASX (including via ASX's website at www.asx.com.au). The contents of any website or ASIC or ASX filing by the Company is not incorporated by reference into this Prospectus and do not constitute part of the Offer. This Prospectus is however intended to be read in conjunction with the publicly available information in relation to the Company which has been notified to ASX. Eligible Investors should therefore also have regard to the other publicly available information in relation to the Company before making a decision on whether to invest in the Company.
8. Financial Information
   Section 3.4 sets out the Financial Information referred to in this Prospectus. The basis of preparation of the Financial Information is also set out in Section 3.4. All dollar values are in Australian dollars ($ or A$), rounded to the nearest $0.1 million and all financial data is presented as at or for the half year ended 31 December 2021 (unless stated otherwise). Any discrepancies between totals and sums of components in tables contained in this Prospectus are due to rounding.
9. Representations
   No person is authorised to give any information or to make any representation in relation to the Offer which is not contained in this Prospectus. Any information or representation not so contained may not be relied upon as having been authorised by the Company or the Company's directors (Directors) in relation to the Offer.

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