Completion of Share Purchase Plan

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GPO Box 1305
Brisbane, QLD4000
T: +61 7 3221 7501
Santana Minerals Ltd
Level 1, 371 Queen St
Brisbane, QLD 4000
ABN 37 161 946 989
8 September 2025
Not for release to US wire services or distribution in the United States
COMPLETION OF SHARE PURCHASE PLAN
Santana Minerals Limited (ASX/NZX: SMI) (Santana or Company) is pleased to announce completion
of the Share Purchase Plan (SPP) which opened on Wednesday, 20 August 2025.

The SPP closed on Wednesday, 3 September 2025 and received overwhelming support from eligible
shareholders, with valid applications received for a total of ~A$18 million, significantly above the
targeted raising amount of A$3 million (before costs).

The strong support for the SPP follows successful completion of the fully underwritten placement of
new fully paid ordinary shares in the Company (New Shares) to sophisticated and professional
investors at an issue price of A$0.58 per New Share to raise proceeds of A$60 million (before costs) as
announced on Monday, 11 August 2025 (Placement).

As applications exceeded the maximum raising amount set by the Company, the Company will scale
back all applicants equally and proportional to the amount applied for multiplied by a factor (being the
total amount of SPP shares offered divided by the total amount applied for).

Proceeds from the Placement and SPP, together with existing cash, will be applied to working capital
for the advancement of the Bendigo Ophir Gold Project in New Zealand towards a commercial
development. Full details on the use of proceeds are set out in the ASX/NZX announcement dated
Monday, 11 August 2025.

A total of 5,172,510 New Shares will be issued in relation to the SPP on Tuesday, 9 September 2025.
An Appendix 2A for the New Shares has been separately released to the ASX and NZX today.

Santana CEO, Damian Spring said:

“It is very pleasing to receive such strong support for the SPP initially priced at only 1.6% to
the 10-day VWAP at the time. The strong gold price puts further wind in our sails as we
advance this terrific new gold project toward production”.
This announcement has been authorised for release by the Board of Directors.
Enquiries:
Damian Spring Sam Smith
Exec. Director & CEO Exec. Director Corp Affairs & IR
dspring@santanaminerals.com ssmith@santanaminerals.com

Announcement
ASX: SMI
NZX: SMI

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Forward Looking Statements:
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or outlook on, production, future earnings or financial position or performance are also forward-looking statements. You are
cautioned not to place undue reliance on forward-looking statements. Any such statements, opinions and estimates in this
announcement speak only as of the date hereof and are based on assumptions and contingencies subject to change without
notice, as are statements about market and industry trends, projections, guidance and estimates. Forward-looking
statements are provided as a general guide only. The forward-looking statements contained in this announcement are not
indications, guarantees or predictions of future performance and involve known and unknown risks and uncertainties and
other factors, many of which are beyond the control of the Company, and may involve significant elements of subjective
judgement and assumptions as to future events which may or may not be correct.
There can be no assurance that actual outcomes will not differ materially from these forward-looking statements. A number
of important factors could cause actual results or performance to differ materially from the forward-looking statements. The
forward-looking statements are based on information available to the Company as at the date of this announcement. Except
as required by law or regulation (including the ASX Listing Rules), the Company undertakes no obligation to supplement,
revise or update forward-looking statements or to publish prospective financial information in the future, regardless of
whether new information, future events or results or other factors affect the information contained in this announcement.

Not an offer in the United States

This announcement has been prepared for publication in Australia and may not be released to US wire services or distributed
in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in
the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be,
registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions
exempt from, or not subject to, the registration requirements of the US Securities Act and applicable US state securities laws.