Australian Goldfields Limited announced a private placement of up to 43,000,000 units at a price of CAD 0.10 per unit for gross proceeds of up to CAD 4,300,000 on February 10, 2022. Each unit will be comprised of one common share and one transferable common share purchase warrant with each warrant entitling the holder to purchase one additional share at a price of CAD 0.18 per share for a period of 3 years from the date of issuance. Finder's fees may be payable to qualified parties in accordance with applicable securities laws.