Golden Horse Minerals Australian IPO Offer Closes Early and Oversubscribed

Perth, November 14, 2024 - Golden Horse Minerals Ltd., (TSXV: GHML) ("Golden Horse" or the "Company") is pleased to announce its Australian initial public offering ("IPO" or "Offer") to raise a minimum of A$16 million and maximum of A$18 million (before costs) has closed early and oversubscribed, successfully raising the maximum amount of A$18 million.

The Offer closed on Thursday 14 November 2024 at 10.00am AEDT, ahead of its scheduled close of 8.00pm AEDT on Friday, 15 November 2024.

As previously stated, the funds raised from the Offer will be used by Golden Horse to leverage its strategic position in the Southern Cross Greenstone Belt, one of Australia's most prolific gold-producing regions. The Company's Southern Cross Project spans over 130 kilometres and presents both advanced and untapped exploration opportunities offering the Company a district-scale opportunity for significant discoveries.

Managing Director and CEO Nicholas Anderson said: "We have been overwhelmed by the investor support, and it's a fantastic endorsement of our company, its new acquisitions and our people. An oversubscribed Offer is a significant milestone for Golden Horse as we position ourselves to unlock the immense potential of the Southern Cross region. We are looking forward to finalising our acquisitions and the listing process with ASX."

The Company is liaising with Australian Securities Exchange ("ASX") with respect to the ASX listing process. The Company's CDIs are expected to begin trading on the ASX in early December 2024.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer

This release may include forward-looking statements. Such forward-looking statements may include, among other things, statements regarding targets and the estimated date of ASX listing, and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions. These forward-looking statements are based on management's expectations and beliefs concerning future events. Forward-looking statements inherently involve subjective judgement and analysis and are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of Golden Horse. Such forward‐looking statements are based on numerous assumptions regarding the Golden Horse's present and future business strategies and the political and economic environment in which the Golden Horse will operate in the future, which are not guarantees or predictions of future performance. Actual results and developments may vary materially from those that may be contemplated or implied by forward-looking statements in this release. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. All information in respect of Exploration Results and other technical information should be read in conjunction with Competent Person Statements in this release (where applicable). To the maximum extent permitted by law, Golden Horse and any of its related bodies corporate and affiliates and their officers, employees, agents, associates and advisers:

• disclaim any obligations or undertaking to release any updates or revisions to the information in this release to reflect any events, circumstances or change in expectations or assumptions after the date of this release;
• do not make any representation or warranty, express or implied, as to the accuracy, reliability or completeness of the information in this release, or likelihood of fulfilment of any forward-looking statement or any event or results expressed or implied in any forward-looking statement; and
• disclaim all responsibility and liability for these forward-looking statements (including, without limitation, liability for negligence).

Competent Person's Statement

Mr. Jonathan Lea, a member of the Australian Institute of Mining and Metallurgy (AusIMM) and an independent Qualified Person as defined by National Instrument 43-101, is responsible for the preparation of the technical content regarding the Southern Cross Project contained in this document. Mr. Lea has reviewed and approved the technical disclosure in this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/229922