Boab Metals announced fully underwritten $5 million capital raising effort to advance its Sorby Hills Lead-Silver-Zinc Project in Western Australia.

The capital raising includes a $1.7 million share placement to institutional investors and a $3.3 million non-renounceable entitlement offer to eligible shareholders.

The funds will support exploration drilling, project team expansion, and site establishment, with an additional $185,000 secured through an ATM subscription with Acuity Capital.

Boab's Managing Director and CEO Simon Noon stated the funds would also support a drilling program at the Manbarrum Zinc-Silver-Lead Project.