Cazaly Resources : $1.5 Million Raising via Placement

$1.5M RAISING VIA PLACEMENT

The Board of Cazaly Resources Limited is pleased to announce the completion of a placement to professional and sophisticated investors to raise gross proceeds of approximately $1,540,000. The issue price of the fully paid ordinary shares will be $0.054 per share.

A total of 28.5m shares will be issued under the placement from the Company's available issuing capacity under ASX Listing Rules 7.1 (12.7m) and 7.1A (15.8m).
Funds raised will be used to explore and develop existing projects, particularly the recently acquired Kaoko Kobalt project in Namibia.

For further information please contact:
Nathan McMahon / Clive Jones
Joint Managing Directors
Cazaly Resources Limited
Tel: [phone]
E: [e-mail]