Troy Resources has announced today an equity raising of up to approximately $40.7m. This includes a 15% institutional placement to raise up to approximately $18.4m, and a pro-rata 1 for 5.5 accelerated non-renounceable entitlement offer to raise approx. $22.3m. This will mean approximately 113m new Tory shares will be issued, representing 33% of existing issued capital. The offer price is expected to be 36cps, which represents a 14.8% discount to the 5 day VWAP.

Funds will be used to accelerate exploration and future project development, strengthen the balance sheet, and for general working capital and corporate purposes.

Macquarie Capital (Australia) Ltd is the Global co-ordinator, Joint Lead Manager and Bookrunner. Euroz Securities Ltd is Joint Lead Manager and Bookrunner.

For more information see www.troyres.com.au