PNX Metals Limited is pleased to announce the launch of a three (3) for five (5) non-renounceable pro-rata rights issue at an issue price of $0.006 per new fully paid ordinary PNX share to raise approximately $5.48 million (before costs and expenses).  With strong support from key shareholders, and engagement of Hartleys Limited as Lead Manager to the Offer, PNX has secured commitments and underwriting for the full amount of the Rights Issue.

The proceeds of the Offer will be used to undertake significant activity at PNX’s flagship Hayes Creek zinc-gold-silver project, including completion of the Definitive Feasibility Study, and ongoing assessment of the high-grade Fountain Head gold project.