A-Cap Raises $9.6m to Fund Completion of the BFS at Lethlakane Uranium Project

A-Cap Resources Limited (ACB) is pleased to announce that the Company has completed a private institutional placement of 22,860,000 shares at 42 cents each to raise approximgrinding calcium carbonate 2 micronately $9,601,200.

The placement was made to Asian and UK based institutions following recent marketing activities including the BGF Equities Emerging Resources Conference in Hong Kong. The Company’s largest shareholder, China Growth Minerals Limited, will increase its shareholding in the Company to approximately 16.6% through the placement.

BGF Equities Pty Ltd (BGF) acted as Lead Manager of the capital raising and the placement was made pursuant to Section 708 of the Corporations Act and in accordance with Listing Rule 7.1 of the ASX Listing Rules.

Funds raised by the placement will be used primarily to advance exploration activities and to fund the completion of a Bankable Feasibility Study at the Company’s Lethlakane Uranium Project in Botswana.

The placement does not require shareholder approval.

Share Purchase Plan

The Company also announces a Share Purchase Plan (“SPP”) to be offered to all ACB shareholders. Shares will be offered to ACB shareholders at an issue price of 42 cents each, which represents a 2.5% discount to the closing price for ACB shares on the ASX prior to the trading halt on 22 November 2010.