Completion of Placement to Zijin Mining

Xanadu Mines Ltd (

ASX:XAM

, 

TSX:XAM

) (

Xanadu

 or the 

Company

) is pleased to announce that the placement of 15,185,328 fully paid ordinary shares to Jinping (Singapore) Mining Pte Ltd, a wholly owned indirect subsidiary of Zijin Mining Group Co. Ltd 

(Zijin)

, at an issue price of A$0.055 per share, completed today. Details of the proposed placement to Zijin were announced to ASX on 20 November 2023 and 8 December 2023.

Completion follows the satisfaction of all Conditions Precedent under the Share Subscription Agreement with Zijin, including shareholder approval on 6 February 2024, and approval by the Foreign Investment Review Board (FIRB) last week.

For further information, please contact:

Colin Moorhead	Spencer Cole
Executive Chairman & Managing Director	Chief Financial Officer
P: [phone]	P: [phone]
E:   [e-mail]	E:   [e-mail]
W: www.xanadumines.com

                                               

About Xanadu Mines Ltd:

Xanadu is an ASX and TSX listed Exploration company operating in Mongolia. We give investors exposure to globally significant, large-scale copper-gold discoveries and low-cost inventory growth. Xanadu maintains a portfolio of exploration projects and remains one of the few junior explorers on the ASX or TSX who jointly control a globally significant copper-gold deposit in our flagship Kharmagtai project. Xanadu is the Operator of a 50-50 JV with Zijin Mining Group in Khuiten Metals Pte Ltd, which controls 76.5% of the Kharmagtai project: www.xanadumines.com.

This Announcement was authorised for release by Xanadu’s Executive Chairman and Managing Director.