CPO secures funding to advance copper exploration at Vista Montana, Chile

Project Name: Vista Montana, Lana Corina, and Fortuna Projects
Project Location: Chile
Project Stage: Advanced Exploration

ProjectBank Summary:
Culpeo Minerals Limited (ASX: CPO) has received binding commitments from sophisticated and professional investors to raise approximately $2.2 million (before costs) under a placement of fully paid ordinary shares. The funds will be used to advance exploration programs at the Vista Montana, Lana Corina, and Fortuna Projects in the coastal Cordillera region of Chile. The placement highlights the high prospectivity of Culpeo's copper projects, with strong support from investors validating the company's exploration strategy. The placement will be conducted in two tranches, with the first tranche expected to settle on 8 August 2024. Directors have also participated in the equity raising, subject to shareholder approval.

Culpeo Minerals Highlights:

• Firm commitments received to raise approximately $2.2 million (before costs).

• Strong support from sophisticated and professional investors, validating the high prospectivity of the Company’s copper projects in Chile.

• Directors' participation in the equity raising, subject to shareholder approval.

• Funds to be utilized to advance exploration programs at the Vista Montana, Lana Corina, and Fortuna Projects.

MD/CEO Statement:
Max Tuesley, Managing Director, commented: "The strongly supported Placement allows us to accelerate exploration at the Vista Montana Prospect, which we believe is connected to the Lana Corina Prospect where we have made a new high-grade copper discovery. The Company thanks its existing shareholders for their support and welcomes new investors. We look forward to providing regular updates on the progress of our field programs."