Green & Gold Minerals Launches $3.2M Rights Issue to Fund Copper and Gold Drilling

$3.2m rights issue to fund high-grade copper and gold drilling at Herberton and Chillagoe

Green & Gold Minerals (ASX: GG1) has launched a 1-for-2 renounceable rights issue at $0.10 per share, targeting up to $3.2 million before costs to fund a multi-target drilling offensive across its copper-silver and gold portfolios in northeast Queensland. The raise is priced at a 29% discount to last close of $0.14 and a 30% discount to the 30-day VWAP of $0.1435, with every 2 new shares carrying 1 free attaching listed option at a $0.20 exercise price over a 2.5-year term.

All directors intend to participate. The structure is renounceable, meaning shareholders can trade their entitlements on the ASX from 9 September 2026 rather than simply letting them lapse.

Key offer terms at a glance:

• Issue price: $0.10 per share
• Discount: 29% to last close ($0.14); 30% to 30-day VWAP ($0.1435)
• Ratio: 1 new share for every 2 held
• Free attaching option: 1 per 2 new shares; exercise price $0.20; 2.5-year term; to be listed on ASX
• Record Date: 10 September 2026
• Rights trading commences: 9 September 2026
• Closing date: 30 September 2026
• Eligible shareholders may also apply for shortfall shares

High-grade copper results set the stage for Herberton’s next drilling push

The Herberton Conductor Metals (HCM) Project is the primary exploration catalyst. Recent drilling has delivered standout results at Copper Hills, and proceeds from the rights issue are intended to extend that discovery while funding initial drilling at three additional high-priority copper-silver targets.

Copper Hills — extending a standout intercept

The headline result driving the next program is from hole CHC003: 5m at 131 g/t Ag, 1.05% Cu, 205 g/t In, 0.37% Sn, 9.1% Zn and 1.1% Pb from 102m. The company notes that all holes drilled into the Copper Hills main lode to date have returned significant results. Upcoming drilling is planned to target below the best intercepts returned from the July 2026 drill programme.

Siberia-Mt Gossan and Elizabeth Bluffs — three more copper-silver targets in the crosshairs

Initial drilling is planned at Siberia-Mt Gossan to test the 5km-long Siberia lode in locations where historic holes identified thicker, copper-rich intersections. Drilling will test down-dip of:

• SPH15: 8m at 2.59% Cu, 39 g/t Ag and 0.32% Sn
• SPH13: 1m at 10.2% Sn

At Elizabeth Bluffs, initial drilling will target below historic workings. Key data from the area includes:

• Adit sampling: 8.5m at 1.08% Cu and 0.44% Sn (Ag, Au and In not assayed)
• Rock chip: up to 684 g/t Ag in fresh rock
• DDH01 (570m from historic mine): 9m at 3.0 g/t Au, 0.1% Cu, 0.12% Sn and 6 g/t Ag

Green & Gold Minerals is targeting a standalone copper-silver-tin resource or group of resources from the HCM portfolio — the discovery thesis, not merely incremental exploration.

Gold resource growth at Mt Wandoo — drilling commences mid-September

Running in parallel to the copper programme, the company’s Chillagoe/Wandoo gold programme is scheduled to commence drilling in mid-September 2026. The existing inferred JORC Resource at Mt Wandoo stands at 32,400oz Au and 387,000oz Ag at 1.1 g/t Au and 13 g/t Ag, occurring over 250m of strike within a 1.6km-long breccia complex. The goal is to grow ounces at open-cut depth ahead of mining studies.

The upcoming programme will target North Wandoo and Little Wandoo, where existing drill intercepts remain outside the current resource model. Drilling will also test extensions to a high-grade shoot defined by:

• MWRC-02: 4m at 12.7 g/t Au
• WBR077: 9m at 7.9 g/t Au

At the southern resource boundary, the drill programme will test continuity beyond where the southernmost drill line returned 19m at 2.9 g/t Au (WBR085) and 8m at 3.9 g/t Au (WBR084). Metallurgical drilling for ore sorter testing is also planned, with results expected to support mining studies and commercial discussions with potential processing partners.

Sentinel — a new gold discovery vector

The Sentinel target, located within the broader Chillagoe project, displays a distinctive Au-Bi-Te geochemical signature with a notable absence of typical epithermal pathfinder metals, suggesting a genetic link to the nearby Red Dome and Mungana deposits. The highest gold assay recorded at Sentinel to date is 3.0 g/t Au in hole RDR004. A follow-up diamond hole is planned to assess vein orientations and alteration patterns, with the aim of vectoring towards the source of mineralisation.

What is a renounceable rights issue — and why does the structure matter to shareholders?

A renounceable rights issue gives eligible shareholders the right to buy new shares in proportion to their existing holding — in this case, 1 new share for every 2 held. Crucially, those entitlements can be traded on the ASX. That means shareholders who do not want to put in fresh capital can sell their rights to someone who does, recovering some value rather than simply having their holding diluted.

This contrasts with a non-renounceable offer, where rights have no tradeable value and simply lapse if not taken up.

GG1’s offer adds another layer of value through the free attaching option. For every 2 new shares subscribed, eligible shareholders receive 1 listed option with a $0.20 exercise price and a 2.5-year term. That option gives holders the right to buy additional shares at that price in the future, participating in any further upside without requiring immediate outlay.

Eligible shareholders can take up their entitlement in full, sell some or all of their rights on-market, or apply for shortfall shares beyond their base entitlement. The structure provides optionality rather than obligation.

Key dates and next steps for eligible shareholders

Tony Bellas, Chair, Green & Gold Minerals

“On behalf of the Directors, I am pleased to offer eligible shareholders the opportunity to participate in this renounceable entitlement offer… Green & Gold Minerals is well positioned to benefit from the powerful long-term market themes supporting both copper and gold.”

With Wandoo drilling scheduled to commence mid-September 2026, Herberton drilling to follow, and multiple assay results expected across both portfolios in the months ahead, the pipeline of near-term catalysts is substantial.

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