said July 19that it has received firm commitments for a placement of 114,893,617 shares at 4.7Australian cents each tosophisticated and professional investors, raising up to about A$5.4 million forthe company.

According tothe miner, the placement was well oversubscribed, with the company welcoming newinstitutions to the register. PAC Partners acted as the lead manager of the capitalraising.

The proceedswill be used to fund infill drilling at the Paris silver deposit within the company'sPeterlumbo tenementin South Australia, with a view to convert the deposit's inferred resource estimate of 8.8 million tonnes at 116 g/tof silver for 33 million ounces of silver into the indicated category.

InvestigatorResources also intends to carry out further metallurgical and water source workas the company targets to complete a pre-feasibility study on Paris by mid-2017,to be followed by a feasibility study.

Drilling atthe Paris deposit and the adjacent Nankivel copper-gold target is expected to startby early September.