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Tempus Resources Ltd
Symbol TMRR
Shares Issued 135,592,569
Close 2022-08-26 C$ 0.06
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Tempus Resources closes $917,276 private placement

2022-08-26 10:18 ET - News Release

Ms. Melanie Ross reports

TEMPUS CLOSES A$1M PRIVATE PLACEMENT

Tempus Resources Ltd. has closed the non-brokered private placement, previously announced on July 27, 2022, raising gross proceeds of approximately $1.02-million (Australian) ($917,276).

The placement has been completed utilizing the company's available capacity under Australian Securities Exchange (ASX) listing rules 7.1 and 7.1A. The placement consisted of the issue of 20,338,885 units at a price of five Australian cents (approximately 4.5 cents) per unit raising gross proceeds of approximately $1,016,944 (Australian) ($917,276). Each unit consists of one fully paid ordinary share in the company together with one new free attaching option. The placement options are exercisable by the holder thereof to acquire one fully paid ordinary share of the company at a price of 7.5 Australian cents (approximately 6.8 cents) on or before the date that is three years from their date of issue.

Peloton Capital Pty. Ltd. and Aesir Capital Pty. Ltd. acted as joint lead managers for the private placement and the placement of any shortfall for the Australian entitlement offer on a best endeavours basis. The private placement is non-brokered and the company has agreed to pay to the joint lead managers $61,017 (Australian) in advisory/finder's fees plus 16 million placement options.

The company intends to apply for quotation of the placement options on the ASX. The issuance of the placement options will require shareholder approval.

The placement remains subject to TSX Venture Exchange approval.

The Australian entitlements offer remains open. See the announcement of July 27, 2022, for full details.

This announcement has been authorized by the board of directors of Tempus Resources.

About Tempus Resources Ltd.

Tempus Resources is a growth oriented gold exploration company listed on ASX (TMR), TSX-V (TMRR) and OTCQB Venture Market (TMRFF) stock exchanges. Tempus is actively exploring projects located in Canada and Ecuador. The flagship project for Tempus is the Blackdome-Elizabeth project, a high-grade gold past-producing project located in Southern British Columbia. Tempus is currently midway through a drill program at Blackdome-Elizabeth that will form the basis of an updated National Instrument 43-101/JORC (Joint Ore Reserves Committee) resource estimate. The second key group of projects for Tempus are the Rio Zarza and Valle del Tigre projects located in southeast Ecuador. The Rio Zarza project is located adjacent to Lundin Gold's Fruta del Norte project. The Valle del Tigre project is currently subject to a sampling program to develop anomalies identified through geophysical work.

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