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TORONTO, Jan. 08, 2025 (GLOBE NEWSWIRE) — Xanadu Mines Ltd (ASX:XAM, TSX:XAM) (Xanadu or i Company) is pleased to announce that the placement of 26,515,543 fully paid ordinary shares in Jinping (Singapore) Mining Pte Ltd, an indirect wholly owned subsidiary of Zijin Mining Group Co. (jeans)at an issue price of A$0.055 per share, which was completed today. Details of the proposed placement in Zijin were announced on the ASX on 14 November 2024 and 5 November 2024.
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Completion follows the satisfaction of all the Conditions under the Share Registration Agreement with Zijin, including shareholder approval on 20 December 2024.
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About Xanadu Mines Ltd:
Xanadu is an ASX and TSX listed Exploration company operating in Mongolia. We offer investors exposure to important global discoveries, large-scale copper-gold and low-cost asset growth. Xanadu maintains a portfolio of exploration projects and remains one of the few small explorers on the ASX or TSX that jointly controls a significant global copper deposit at our flagship Kharmagtai project, along with our 50-50 JV group Zijin Mining Group. For information on Xanadu visit: www.xanadumines.com
This Announcement has been authorized for release by the Managing Chairman and Managing Director of Xanadu.
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