Vimy Resources Limited (ASX: VMY) is pleased to announce that eligible shareholders applied for 20.0 million shares in the Company under a Share Purchase Plan (SPP) for gross proceeds of $1.0 million.

The SPP was announced on 23 October 2019, together with details of the successful equity raising of $3.9 million (Placement).

Funds raised from the Placement and the SPP will be used to strengthen Vimy Resources' balance sheet and bolster working capital, as well as providing funding for the Alligator River Project and for the review of the Mulga Rock Project Definitive Feasibility Study.

Mike Young, CEO of Vimy Resources, said 'We'd like to thank the many shareholders who participated in the SPP. We appreciate their support for our projects and our team.'

Contact:

Mike Young

Tel: +61 8 9389 2700

Summary Informa1tion

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Forward-Looking Statements

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About Vimy Resources

Vimy Resources Limited (ASX: VMY) is a Perth-based resource development company. Vimy's flagship project is the Mulga Rock Project, one of Australia's largest undeveloped uranium resources, which is located 240km ENE of Kalgoorlie in the Great Victoria Desert of Western Australia. Vimy also owns (79%) and operates the largest granted uranium exploration package in the world-class Alligator River uranium district, located in the Northern Territory. Vimy is exploring for large high-grade uranium unconformity deposits identical to those found in the Athabasca Basin in Canada.

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