The placement will be completed in conjunction with the closing of the share purchase plan (SPP).
Funds will be used to increase the drilling budget for the exploration program focused on the Speewah Dome Project located in Western Australia.
The SPP closes 28 April and to date commitments for over 50% of the maximum $754,794 have been received.
The exploration focus in 2017 will be primarily focussed around the large and untested Barton’s structure.
Bartons Trend is interpreted to be the main controlling structure for gold, silver and copper mineralisation in this part of the Speewah Dome.
King River plans to drill 2,400 metres focussing on the new Bartons Trend prospect