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Argonaut congratulates Hammer Metals on Capital Raising

Argonaut as Lead Manager has been successful in raising of A$1.2 million for Hammer Metals Limited (ASX: HMX) (“Hammer”) to new and existing shareholders of 18,500,000 new ordinary shares at an issue price of A$0.065 per share.

Proceeds from the placement will be used to accelerate exploration at its Mount Isa project in NW Queensland, including drilling of the Scalper copper-gold prospect and the recently purchased Millennium copper-cobalt-gold project, plan for drilling at Hammertime, follow up drilling at Kalman Deeps and for working capital purposes.

Argonaut is delighted to provide support to Hammer and looks forward to working with the company.

Additional information regarding Hammer and the Capital Raising can be found on the company’s website at www.hammermetals.com.au.