Eagle Mountain Mining raised $1.1 million through the issuance of 18 million ordinary shares and an equal number of options to institutional and sophisticated investors.

The placement, priced at 6 cents per share with free options exercisable at 20 cents until March 2027, aims to advance exploration and studies.

The funds will support exploration and the scoping study for Oracle Ridge, scheduled for completion in the third quarter.

Settlement is expected by April 19, with shares issued and allotted on April 22.