Blackham Resources Ltd: Strong Level of Entitlement Offer Acceptances

Perth - Blackham Resources Ltd. (ASX:BLK) (OTCMKTS:BKHRF) ("Blackham" or "the Company") advises that the Company's fully underwritten, renounceable pro-rata entitlement offer ("Entitlement Offer") closed at 5.00pm (WST) on 12 February 2018. Under the Entitlement Offer, the Company is able to issue up to 897,670,820 New Shares on the basis of five (5) New Shares for every two (2) Blackham Shares held on the record date at an issue price of $0.04 per New Share, together with one (1) free attaching option (exercisable at $0.08 on or before 31 January 2019) ("New Option") for every two (2) New Shares subscribed for.

The Company is pleased to advise that it has received applications for entitlements totalling $26.19m (before costs) from existing shareholders and rights holders, representing acceptances of approximately 73%. In addition, the Company has received additional applications from existing shareholders for a further $4.97m to give a total shareholder take-up of up to 87% on the Entitlement Offer. These amounts are subject to the final reconciliation of applications and proceeds received.

The following table (see link below) sets out the number of New Shares (and New Options) for which entitlement applications were received and the resultant offer of Shortfall Securities. The additional applications for securities received from eligible shareholders in excess of their entitlement, will be allocated by the Company along with the Shortfall Securities pursuant to the Underwriting Agreement with Hartleys Limited, in accordance with the Prospectus dated 22 January 2018.

The anticipated date for despatch of holding statements for the New Shares and New Options is 20 February 2018, with normal trading of the New Shares and New Options is expected to commence on 20 February 2018.

Blackham's Chairman, Mr Milan Jerkovic, said:

"It was very pleasing to see such a high level of participation in the Entitlement Offer and I would like to thank all shareholders for their continued and valued support. We would also like to take the opportunity to welcome our new shareholders who will be taking up Shortfall Securities pursuant to the issue of Shortfall Securities to sub-underwriter clients of Hartleys Limited.

The funds raised from the Entitlement Offer puts Blackham in a strong position to execute on its free milling mine plan, as well as to advance exploration focussed on growing our free milling mine life. As demonstrated by the strength of our operations in December 2017 and January 2018, the Company is at an exciting stage, with 2018 likely to be a transformational year of strong operational and financial performance."

To view tables, please visit:
http://abnnewswire.net/lnk/6N04S6JH

About Blackham Resources Ltd:

Blackham Resources Ltd. (ASX:BLK) (OTCMKTS:BKHRF), is an emerging gold producer focused on its Matilda Gold Project in Western Australia where mining and production is imminent. The Matilda/Wiluna Gold Operation incorporates over 1,000 square kilometres of tenements containing total JORC 2012 resources of 63Mt @ 3.2 g/t for 6.4Moz of gold. These tenements cover around 55 kilometres of strike along the Wiluna Mine Sequence and 10 kilometres of strike along the Coles Find Sequence. The Wiluna Mine and Coles Find Sequence has historically produced 4 million ounces of gold.

All the deposits are within 26 kilometres by existing haul roads of Blackhams recently acquired Gold Plant. With exploration prospects at Mt Poole, Monarch, Carroll Prior, Red Lady, Zenith, Island and Albion in the Lakeway area provides the company with excellent exploration areas for potential future projects.

Source: Blackham Resources Ltd.



Contact:

Milan Jerkovic Executive Chairman
T: +61-8-9322-6418

Bryan Dixon Managing Director
T: +61-8-9322-6418

Jim Malone Investor Relations Manager
T: +61-419-537-714

John Gardner Media Relations Citadel-MAGNUS
T: +61-8-6160-4900