Golden State Mining Limited announced a private placement of 33,300,000 shares at an issue price of AUD 0.075 per share for gross proceeds of AUD 2,497,500 on April 8, 2022. The transaction will include participation from sophisticated and professional investors including company's directors and staff for AUD 100,000. The transaction is expected to close on April 15, 2022. The company will receive funding in tranches. The issue of 12,606,667 shares is subject to shareholder approval at a general meeting scheduled to take place by mid to late May 2022, with this portion of the placement expected to settle in mid to late May.