Tempus Resources Ltd (TSX-V: TMRR) (ASX: TMR) (OTC Pink: TMRFF) is pleased to announce that is has closed its previously announced non-brokered private placement on May 19, 2023, raising gross proceeds of approximately A$2.5 million through the issuance of 62,500,000 fully paid ordinary shares in the Company at a price of A$0.04 per Placement Share, together with one free attaching option for every two Placement Shares subscribed for and issued.

The Placement Shares will rank equally with existing fully paid ordinary shares of the Company. The Placement Options were issued on about May 19, 2023, and are exercisable by the holder thereof to acquire one fully paid ordinary share of the Company at price of A$0.075 on or before 5 September 2025. The Placement Shares and the Placement Options were approved under Australian Securities Exchange Listing Rules 7.1 but the Private Placement closed without the acceptance of the TSX Venture Exchange.

Of the total proceeds to be raised, $2.5 million approximately (5%) is expected to be paid to “Non-Arm’s Length Parties” (as defined in the policies of the TSXV), up to $125,000 (5%) toward Investor Relations Activities, and the balance to be used to further drilling programs, exploration, resource confirmation and geological sampling & testing and for general working capital purposes. The Company intends to apply for quotation of the Placement Options on the ASX.

Peloton Capital Pty Ltd and Aesir Capital Pty Ltd acted as joint lead managers for the Private Placement. The Private Placement is non-brokered and the Company has agreed to pay to the Joint Lead Managers A$150,000 in advisory / finders fees plus 15,000,000 Placement Options as compensation. The Broker Options will be subject to shareholder approval

About Tempus Resources Ltd

Tempus Resources Ltd is a growth orientated gold exploration company listed on ASX and TSX.V and OTCQB stock exchanges. Tempus is actively exploring projects located in Canada and Ecuador. The flagship project for Tempus is the Blackdome-Elizabeth Project, a high-grade gold past producing project located in Southern British Columbia. Tempus is currently midway through a drill program at Blackdome-Elizabeth that will form the basis of an updated NI43-101/JORC resource estimate. The second key group of projects for Tempus are the Rio Zarza and Valle del Tigre projects located in south east Ecuador. The Rio Zarza project is located adjacent to Lundin Gold’s Fruta del Norte project. The Valle del Tigre project is currently subject to a sampling program to develop anomalies identified through geophysical work.