Tempus Raises A$740,000

Rhea-AI Summary

Tempus Resources Ltd receives firm commitments for non-brokered private placement, raising approximately A$740,000

Positive

• The private placement will provide funding for exploration work at newly acquired lithium projects and the Elizabeth Gold Project, as well as general working capital requirements

Negative

• None.

Perth, Australia--(Newsfile Corp. - October 2, 2023) - Tempus Resources Ltd (ASX: TMR) (TSXV: TMRR) (OTC Pink: TMRFF) ("Tempus" or the "Company") is pleased to announce it has received firm commitments to complete a non-brokered private placement (the "Private Placement") raising gross proceeds of approximately A$740,000 through the issuance of 31,084,560 fully paid ordinary shares in the Company (the "Placement Shares") at a price of A$0.023 per Placement Share.

Tempus President and Chief Executive Officer, Jason Bahnsen, commented: "The proceeds raised will be used to fund exploration work at our newly acquired lithium projects in Manitoba, at the Elizabeth Gold Project in British Columbia and for general working capital requirements."

The Placement Shares will be issued on or about October 6, 2023, under the Company's capacity under the ASX Listing Rules 7.1 and 7.1A. The Placement Shares will rank equally with existing fully paid ordinary shares of the Company. The Placement Shares will only be offered to purchasers resident in Australia through the facilities of the Australian Securities Exchange (the "ASX")‎, and will not be offered to purchasers resident in Canada.

In accordance with the policies of the TSX Venture Exchange (the"TSXV"), the Company is relying on a minimum ‎price exception in order to issue securities at less than C$0.05 per listed security. As such, the aggregate ‎number of common shares issued by the Company in this offering and in any 12-month period does not ‎and shall not exceed 100% of the number of common shares which were issued and outstanding prior to ‎this issuance. ‎ The issuance of the Placement Shares will be subject to approval by the TSXV.

Total gross proceeds of A$739,917 will be used for further exploration, resource confirmation and geological sampling & testing and for general working ‎capital purposes. None of the proceeds are expected to be paid to "Non-Arm's Length Parties" (as defined in the policies of the TSXV) or towards Investor Relations Activities.

Empire Capital Partners and Aesir Capital Pty Ltd acted as joint lead managers (the "Joint Lead Managers") for the Private Placement. The Private Placement is non-brokered and the Company has agreed to pay to the Joint Lead Managers a cash finder's fee of A$44,395.

This announcement has been authorised by the Board of Directors of Tempus Resources Ltd.

For further information:

TEMPUS RESOURCES LTD

Melanie Ross - Director/Company Secretary Phone: +61 8 6188 8181

About Tempus Resources Ltd
Tempus Resources Ltd ("Tempus") is a growth orientated gold exploration company listed on ASX ("TMR") and TSX.V ("TMRR") and OTC ("TMRFF") stock exchanges. Tempus is actively exploring projects located in Canada and Ecuador. The flagship project for Tempus is the Blackdome-Elizabeth Project, a high grade gold past producing project located in Southern British Columbia. Tempus is currently midway through a drill program at Blackdome-Elizabeth that will form the basis of an updated NI43-101/JORC resource estimate. On September 21, 2023, Tempus announced the acquisition of an option over the White Rabbit and Cormorant lithium exploration projects located in Central Manitoba. In addition, the Company holds two exploration projects located in located in South East Ecuador, the Rio Zarza and the Valle del Tigre projects.

Forward-Looking Information and Statements

This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Tempus's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein may include, but are not limited to, the ability of Tempus to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Tempus to control or predict, that may cause Tempus' actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein and the other risks and uncertainties disclosed under the heading "Risk and Uncertainties" in the Company's Management's Discussion & Analysis for the quarter and year ended June 30 2023 dated September 28, 2023 filed on SEDAR. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Tempus believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements.

The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and Tempus does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to Tempus or persons acting on its behalf are expressly qualified in its entirety by this notice.

Neither the ASX Exchange, the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/182493