Mariana Resources (LON:MARL) raised £912,640 through a placing to be used on exploration and working capital.
It will issue over 91.2mln shares at a placing price of 1p with one warrant offered for every two shares subscribed to. Yesterday, the shares closed at 1.425p.
Chief executive Glen Parsons said: "I am encouraged with the support for Mariana's placement, despite the current tough market conditions for junior explorers, and the endorsement of the company's diversification strategy going forward.
"The outcome provides Mariana with the means to achieve anticipated milestones. These include obtaining the permits required to commence exploration under our option agreement for the exciting gold-copper Condor de Oro project in Peru.
"As foreshadowed at the end of June, we continue to assess strategies for our gold-silver projects in Argentina, in addition to evaluating new opportunities for the company."
Fox-Davies Capital assisted with placing in the UK and the warrant will be exercisable at 2p during the period until August 27, 2015, the company said.
Directors and management supported the cash call by contributing £86,020, the firm said.