Maronan Metals Limited (ASX:MMA) (OTCMKTS:MROMF) is pleased to announce that it has entered into a binding agreement with Kinterra Critical Materials & Infrastructure Opportunities Fund II, LP, (Kinterra Fund II) an investment fund managed by Kinterra Capital Corp. (together, Kinterra) to raise approximately $22 million (before costs) via a strategic private placement (Strategic Placement) at an issue price of 35.08 cents per new fully paid ordinary share (Share). The issue price represents the 5-day volume weighted average price of Maronan shares traded up to and including 15 May 2026, the last trading day prior to the date of this announcement (on which Maronan's closing price was 32.0 cents). Upon completion, Kinterra Fund II will directly or indirectly hold approximately 19.99% of Maronan's issued Shares.

HIGHLIGHTS

- Fully funded for expanded 2026 drilling program and delivery of a PFS on a larger scale project

- Kinterra to become a 19.99% strategic investor and supportive of accelerated project development

Following completion of the Strategic Placement, Maronan's pro-forma cash position will increase to approximately $36.6 million (as at 31 March), providing Maronan with the funding it requires to progress and derisk the Maronan Project, unlocking significant value for Maronan shareholders. The Strategic Placement will ensure Maronan is funded for its expanded 2026 drilling program to increase the Indicated Resource base beyond just the Starter Zone and to advance the technical and regulatory workstreams required to complete a Preliminary Feasibility Study (PFS) and support development decisions for the broader Maronan Project.

Maronan's Chairman, Simon Bird, commented:

"We are delighted to welcome Kinterra as a strategic investor in Maronan. After a long period of engagement with Kinterra and extensive due diligence, we view a material investment from a quality and experienced fund like Kinterra as a tremendous endorsement of the Maronan Project and strong validation of Maronan's larger scale development plan and vision."

Maronan's Managing Director, Richard Carlton, added:

"Maronan is now fully funded for its expanded drilling program, which we view as one of the critical workstreams required to underpin the delivery of a PFS on a larger scale and longer life project relative to our Starter Zone Preliminary Economic Assessment released last year. We are very excited to accelerate the development of the Maronan Project and we look forward to working closely with the Kinterra team, leveraging their extensive project development experience and delivering value for all Maronan shareholders."

About Kinterra Capital Corp.

Kinterra Capital is a private equity firm with approximately US$1.5 billion in committed capital, that invests in the people, ideas, critical materials, and strategic infrastructure necessary to accelerate the development of the modern economy. With nearly 20 years of critical minerals investment experience, Kinterra leverages deep technical and transactional expertise to source and manage investments that create long-term value while supporting local communities through meaningful partnerships. For more information, visit https://www.kinterracapital.com

Strategic Placement Details

Maronan will issue 62,822,481 Shares to Kinterra Fund II or one of its wholly owned affiliates, utilising Maronan's available placement capacity under ASX Listing Rules 7.1 and 7.1A, comprising 37,717,000 Shares under Listing Rule 7.1 and 25,105,481 Shares under Listing Rule 7.1A.

The key terms of the binding subscription agreement (Subscription Agreement) are summarised in the Schedule to this announcement.

Taylor Collison acted as Financial Advisor and Steinepreis Paganin as Legal Advisor to Maronan for the Strategic Placement.

To view the release including tables and figures, please visit Maronon Metals:

https://www.maronanmetals.com.au/investors/asx-announcements

Direct release link:

https://api.investi.com.au/api/announcements/mma/5d8417fe-594.pdf

About Maronan Metals Ltd:

Maronan Metals Limited (ASX:MMA) is an exploration and development company focused on advancing the Maronan Project in the Cloncurry region of northwest Queensland. The Maronan Project hosts a large silver-lead Mineral Resource with additional copper-gold mineralisation and is located within the North West Minerals Province, a well-established mining region with access to infrastructure and nearby processing facilities.

Contact:Richard Carlton
Managing Director
richard.carlton@maronanmetals.com.au
+61 402 298 029

Ian Gebbie
Company Secretary
ian.gebbie@maronanmetals.com.au
+61 431 272 148

Source:

Maronan Metals Ltd

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