AusQuest completes $10M Placement

Firm commitments received to raise A$10 million via a Placement.

Strong support from new and existing shareholders, including leading offshore specialist resource focused institutions.

Directors contributing ~A$1.1 million, subject to shareholder approval.

Proceeds primarily to expand Stage 3 Reverse Circulation (RC) and diamond drilling (+20,000m) at the Cangallo Porphyry Copper-Gold discovery in Peru.

Drilling to significantly expand the widespread copper and gold already intersected and locate the centre of the porphyry system, where there is potential for higher copper grades to occur.