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AuStar Announces $5.5 Million Raised to Accelerate Development and Exploration Program

AUSTAR GOLD LIMITED (ASX:AUL) (‘AuStar Gold’ or the ‘Company’) is pleased to announce that it has successfully arranged a placement of A$5.5m to fund development and further exploration at the Company’s Morning Star and Rose of Denmark gold mines (Victoria, Australia), and for future growth initiatives.

The capital raising was strongly supported by Australian and United Kingdom based professional and sophisticated investors. The Company was extremely pleased with the level of interest shown in its assets and strategy.

The Company is also providing an opportunity for existing shareholders to participate through a Share Purchase Plan, on identical terms to the placement.

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