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Argonaut Congratulates Myanmar Metals Limited on a Highly Successful Equity Raising

Argonaut acted as exclusive Financial Advisor, Lead Manager and Sole Bookrunner to Myanmar Metals Limited (ASX: MYL) (“Myanmar Metals” or the Company) in its A$35.0 million shareholder approved Placement. The Placement was heavily oversubscribed with significant demand from a wide range of new domestic and international institutional investors. The Placement included binding commitments of A$19.1 million from cornerstone investors, Perilya Limited and Mr. Mark Creasy (through Yandal Investments Pty Ltd).

Under the Placement, Perilya emerged as a 19.9% strategic shareholder and formed a strategic alliance with Myanmar Metals to support the optimal development and financing of Bawdwin, enabling the Company to gain technical assistance, future financing support and assistance with procurement, processing and metals marketing from Perilya and its parent company, Shenzhen Zhongjin Lingnan Nonfemet Co. Limited “(Zhongjin Lingnan”). Under the strategic alliance, Perilya has provided a non-binding Letter of Support for up to US$150.0 million for future construction of Bawdwin. Zhongjin Lingnan is China’s largest integrated zinc producer with a market capitalisation in excess of US$3.1 billion.

Funds raised in the Placement together with existing cash reserves will be applied towards the exercise of the Bawdwin Option, further drilling, a pre-feasibility study, concession holding costs, commencement of a feasibility study, transaction costs and general working capital.

Commenting on the Placement, Myanmar Metals Executive Chairman and CEO Mr. John Lamb said:

“The Placement has achieved our objective of introducing a significant number of new, high quality institutions to the MYL shareholder register. We believe this further validates the quality of the Bawdwin Concession and ensures the Company has a strong financial position as it progresses Bawdwin towards mine development.

We now move forward as part of a larger, well-funded company which will have a controlling interest in a world class mining project.”

Argonaut is delighted to have assisted Myanmar Metals in achieving this successful outcome and looks forward to building a long-term relationship with the Company as it continues to create value for shareholders.

Additional information regarding Myanmar Metals can be found on the company’s website at www.myanmarmetals.com.au