REG - Great Western Mining - £3.25m Placing to Accelerate Exploration Portfolio

Great Western MiningAnnouncement

30/01/2026 07:00

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RNS Number : 0051R  Great Western Mining Corp. plc  30 January 2026

Great Western Mining Corporation PLC / AIM: GWMO / Euronext Growth: 8GW

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION IN RELATION TO GREAT WESTERN
MINING CORPORATION PLC.

 

30 January 2026

GREAT WESTERN MINING CORPORATION PLC

("Great Western", "GWM" or the "Company")

 

Placing to Raise £3.25 million to Accelerate Mineral Exploration Portfolio

 

Great Western Mining Corporation PLC, a strategic minerals exploration and
development company, is pleased to announce an oversubscribed fundraise of
£3,250,000 before expenses (the "Placing") at 1.4p, reflecting strong
investor demand following the confirmation of significant tungsten
mineralisation at its Pine Crow-Defender project ('Defender') in Mineral
County, Nevada.

 

HIGHLIGHTS

·    £3,250,000 conditionally raised through a placing at 1.4 pence per
share

·    One warrant issued for every Placing Share, exercisable at 2.0 pence
for three years

·    Proceeds will fast-track drilling at the Defender-Pine Crow tungsten
project in Nevada

o Recent channel sampling returned up to 16m at 0.30 per cent WO₃, including
2m at 0.66 per cent WO₃

o Notice of Intent to Drill submitted to the U.S. Bureau of Land Management

·    Progress continues across the Company's broader multi-commodity
exploration portfolio in the Walker Lane Trend

 

Great Western Chairman Brian Hall commented: "We are very encouraged by strong
investor support following the initial trenching results at our Defender-Pine
Crow tungsten project, which exceeded our expectations and confirmed the
potential of the system. The funds now raised will allow us to commence full
scale exploration at Defender, conduct geophysics and gravity surveys and
mobilise for drilling at the earliest opportunity.  We will be able to expand
the programme, subject to results as appropriate, aiming for a maiden Mineral
Resource Estimate. With a strong need for domestic tungsten production in the
U.S., we believe the strategic relevance of this project will be increasingly
recognised.  We have watched with great interest the success of the Pilot
Mountain project operated by our neighbour Guardian Metal Resources which is
only 30 miles away from Defender and in a similar geological setting.
This funding places the Company in a strong position to deliver meaningful
progress during the upcoming drilling season, while continuing to advance our
wider Nevada portfolio."

 

DETAILS

Background to and Reasons for the Placing

Great Western Mining Corporation is advancing a diversified exploration and
development portfolio focused on strategic and critical minerals across
several 100% owned claim groups in Mineral County, Nevada, one of the world's
most prolific and mining-friendly jurisdictions. The Company's assets are
located within the Walker Lane Trend, a tier-one geological belt with
established infrastructure, a long history of mining success and low
geopolitical risk. The Company's focus on domestically sourced critical and
industrial metals is aligned with U.S. objectives to reduce reliance on
imports and strengthen supply chain resilience.

 

Recent exploration activity includes work at the Company's Defender-Pine Crow
tungsten project, where historic tungsten workings are located approximately 2
km northeast of, and on trend with, the Company's M2 skarn copper resource,
within skarn systems developed along the contact between Cretaceous granitic
intrusions and Jurassic limestones.

 

Recent fieldwork, including mapping, geochemical sampling and channel
sampling, has confirmed the presence of scheelite-bearing tungsten
mineralisation at both Defender and Pine Crow. Channel sampling undertaken at
Defender in December 2025 returned encouraging tungsten grades announced on 29
January 2026, including 16 m at 0.30 per cent WO₃, with a higher-grade
interval of 2 m at 0.66 per cent WO₃, together with supporting geochemical
results over an extended strike length. These results have confirmed the scale
and continuity of the mineralised system and support the advancement of the
project to a drilling stage.

 

In parallel, the Company has continued to advance its broader multi-commodity
exploration portfolio. At West Huntoon, recent drilling has confirmed gold and
silver mineralisation in a fertile granite system, in addition to the copper
potential already established, supporting further follow-up work. Furthermore,
the Company has progressed geological and geophysical evaluation at the
Rhyolite Dome target within its Olympic Gold Project, where initial drilling
has improved geological understanding and will inform future exploration
planning.

 

Use of Proceeds

The proceeds of the Placing will be used primarily to fast-track an
exploration programme at the Defender-Pine Crow tungsten project, following
highly encouraging trenching results announced on 29 January 2026.

 

Upon commencement of drilling, tungsten-bearing scheelite will be readily
identifiable under ultraviolet light, allowing for rapid visual confirmation
of mineralisation in drill core. The Company's objective is to advance the
project toward a maiden Mineral Resource Estimate, while continuing to
progress exploration across its broader portfolio of precious and strategic
metals projects in Nevada.

 

Details of the Placing

The Company has conditionally raised gross proceeds of £3,250,000 million
through a placing of 232,142,857 new ordinary shares of €0.0001 each in the
capital of the Company at a price of 1.4 pence per Placing Share.

 

The Placing Price represents a discount of approximately 8.5 per cent to the
closing mid-market price of the Company's ordinary shares on 29 January 2026,
being the last practicable date prior to the announcement of the Placing.

 

In addition, Placing Participants will be issued with one warrant for every
one Placing Share subscribed for. Each warrant will entitle the holder to
subscribe for one new ordinary share in the Company at an exercise price of
2.0 pence per share and will be exercisable for a period of three years from
the date of admission of the Placing Shares ("Placing Warrants").

 

The Placing Warrants will be unlisted and will be issued pursuant to a warrant
instrument to be entered into by the Company. The Placing Warrants will not be
transferable except in limited circumstances and will be subject to customary
anti-dilution and adjustment provisions.

 

If exercised in full, the Placing Warrants would result in the issue of a
further 232,147,857 new ordinary shares and raise additional gross proceeds of
approximately £4,642,957 million.

 

In addition, the Company will issue warrants over 15,692,856 new ordinary
shares in the Company to the Company's brokers ("Broker Warrants"). The Broker
Warrants will be exercisable for a period of three years from the date of
admission of the Placing Shares with an exercise price of 1.4 pence per new
ordinary share ("Broker Warrants").

 

The Placing Shares, when issued, will rank pari passu in all respects with the
existing ordinary shares of the Company.

 

Application will be made for the Placing Shares to be admitted to trading on
AIM and Euronext Growth markets ("Admission"). Admission for 196,428,571 new
ordinary shares is expected to take place at 8.00am on 13 February 2026 and
dealings in the Placing Shares are expected to commence at the same time.
Admission for 35,714,286 new ordinary shares is expected to take place at
8.00am on 27 February 2026 and dealings in the Placing Shares are expected to
commence at the same time.

 

The Placing is conditional, inter alia, upon Admission becoming effective.

 

Total Voting Rights

Following Admission of the Placing Shares, the Company's issued ordinary share
capital will comprise 411,832,131 ordinary shares of €0.0001 each. There are
no ordinary shares held in treasury. Accordingly, the total number of voting
rights in the Company will be 411,832,131 and this figure may be used by
shareholders as the denominator for the purposes of determining whether they
are required to notify an interest in, or a change to their interest in, the
Company under the Disclosure Guidance and Transparency Rules and the Euronext
Growth Market Rules.

 

ENDS

 

For further information visit www.greatwesternmining.com or contact:

 

 Great Western Mining Corporation PLC
 Brian Hall, Chairman                                           c/o St Brides
 Max Williams, Finance Director                                 greatwesternmining@stbridespartners.co.uk
 Davy
 Nominated Adviser, Euronext Growth Adviser & Joint Broker
 Brian Garrahy                                                  +353 (0)1 679 6363
 Shard Capital Partners
 Joint Broker
 Andrew Gutmann / Erik Woolgar                                  +44 (0)20 7186 9008
 St Brides Partners
 Financial PR
 Susie Geliher / Isabel de Salis / Will Turner                  greatwesternmining@stbridespartners.co.uk

 

Notes

Great Western Mining Corporation PLC (AIM: GWMO / Euronext Growth: 8GW) is a
diversified exploration and development company focused on strategic minerals
across several 100%-owned claim groups in Mineral County, Nevada, one of the
world's most prolific and mining-friendly jurisdictions. Backed by an
experienced team, the Company is pursuing a multi-commodity strategy targeting
near-term development and longer-term exploration while assessing farm-out and
joint venture opportunities to unlock broader portfolio value. As well as its
flagship Huntoon Copper Project, which hosts a JORC-compliant resource of 4.3
Mt at 0.45% Cu, with upside from undrilled porphyry targets, it has a pipeline
of gold, silver, and early-stage tungsten assets aligned with US critical
minerals priorities.

 

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