Rafaella Resources Limited announced that terms have been agreed for the acquisition of the impressive Horden Lake polymetallic/battery metals deposit in north-western Quebec, Canada. The Company, through its 100% owned subsidiary 9426-9198 Québec Inc., has signed a binding agreement with Gestion Ora-Mirage Ltée to acquire the Horden Lake polymetallic deposit. Horden Lake is an advanced project located approximately 140 km north of the mining town of Matagami, and 300km north of the Company's wholly owned Belleterre-Angliers Cu-Ni-PGM project, also in Quebec.

The Horden Lake deposit is centrally located within the 815-hectare tenement package being acquired and is comprised of 18 separate claims, all in good standing. Highlights: Rafaella to acquire 100% of the Horden Lake battery metals project for CAD 4 million. Acquisition financing is secured for up to AUD $2 million (at RFR's discretion) in binding commitments, with other significant late-stage discussions ongoing.

An upfront deposit of CAD 400,000 has been paid from existing cash resources. NI43-101 (2009) compliant resource of 16.55Mt comprising 8.76Mt of Indicated @ 0.88% Cu, 0.21% Ni, and 7.79Mt of Inferred at 0.87% Cu, 0.25% Ni. Metallurgical studies by the International Nickel Company of Canada yielded excellent recoveries.

In-fill drilling is planned to better quantify the known Co, Pd, Pt, Au and Ag contents and upgrade Inferred resource categories to Indicated in advance of a PFS. Close to infrastructure, notably a new road and power line connecting the mining town of Matagami to the La Grande hydroelectric power dam. The Horden Lake project is complementary to the Company's existing Belleterre-Angliers exploration project, also held by RFR Quebec, which now holds a substantial battery metals portfolio in a Tier 1 mining jurisdiction.