Tethyan Resources plc (TSX-V: TETH) announces the closing of its underwritten private placement, announced on March 28, 2019, of 6,250,000 ordinary shares at a price of C$0.80 per Share, for aggregate gross proceeds of C$5,000,000. The Offering was conducted by a syndicate of underwriters led by TD Securities Inc.

The Offering was subscribed to by JP Morgan Asset Management U.K. and Augusta Investments Inc. a private company beneficially owned by Richard Warke, the Company’s Executive Chairman. Augusta’s subscription brings Mr. Warke’s post-closing beneficial ownership to 15.94% of the Company. Tethyan paid a 5.0% cash commission to the Underwriters. The Shares issued in connection with the Offering are subject to a statutory hold period expiring on August 18, 2019.

The net proceeds from the Offering will be used primarily to fund the planned advancement of the Rudnica copper-gold project and Kizevak zinc-lead-silver project located in Serbia.

The Company will file a material change report in relation to the foregoing “related party transaction” with Richard Warke on the Canadian System for Electronic Document Analysis and Retrieval under the Company’s profile at www.sedar.com. The Company did not file the material change report more than 21 days prior to the closing of the transaction due to the timing of the announcement and closing occurring in less than 21 days.

About Tethyan

Tethyan Resources plc, a member of the Augusta Group of Companies, is a precious and base metals mineral exploration company incorporated in England & Wales and listed on the TSX Venture Exchange. Tethyan is focused on the Tethyan Metallogenic Belt in Eastern Europe, mainly Serbia, where it is acquiring and exploring a portfolio of quality precious and base metals projects with known mineralization and compelling drill targets. Tethyan emphasizes responsible engagement with local communities and stakeholders, and is committed to the proactive implementation of Good International Industry Practice (GIIP) and sustainable health, safety and environmental management.