Hancock Prospecting Pty Ltd has agreed to acquire a 13.5% strategic stake in White Cliff Minerals Limited through a private placement of 515,791,601 ordinary shares at $0.017 per share to raise A$8,768,457.

The transaction is conditional on White Cliff obtaining shareholder approval at an extraordinary general meeting scheduled for on or about 19 October 2026, and on ASX not indicating that it will refuse official quotation of the shares. Completion is expected to occur three business days after the meeting is approved.

The placement proceeds will be combined with existing cash reserves to fund an expanded exploration and drilling program at the Rae Copper Project in Nunavut, Canada. The Danvers prospect forms a core part of the asset, where the company has advanced multiple mineralised targets including Danvers 1, Danvers 2, and Danvers 3.

Funds will be directed toward fast-tracking an Exploration Target and Maiden Resource Estimate at Danvers 1, executing systematic step-out drilling across Danvers 2 and Danvers 3, and accelerating sediment-hosted copper exploration supported by an upcoming ultra-high-resolution airborne geophysical survey.

“Hancock Prospecting's decision to invest is a major milestone for White Cliff and powerful third-party validation of what we are building at Rae. We have spent the past two seasons demonstrating that Rae can deliver exceptional grades across a mineralised system with genuine district-scale potential.”

“This investment gives us the financial strength to accelerate drilling at Danvers 1, aggressively test the scale of Danvers 2 and Danvers 3, and advance the broader sediment-hosted copper opportunity across Rae. We are still at an early stage in understanding the full scale of this system, but the results to date demand an ambitious program, and that is exactly what we now intend to deliver.”

— Troy Whittaker, Managing Director

The funding agreement follows a series of high-grade drill results across the Rae project area, positioning the company to advance its exploration schedule across the broader district.

Read the full announcement: Hancock Prospecting Acquires 13.5% Strategic Stake in WCN