Mithril Silver and Gold (ASX:MTH) said it will raise an additional CA$1.5 million through the placement of about 4.2 million shares at CA$0.36 per share, according to a Friday filing with the Australian bourse.

The offer represents a discount of 8% to the closing price of the company's shares on July 8, the filing said.

On Tuesday, the company said it will raise CA$10 million through the placement of about 27.8 million shares at the same price, to be used to develop the company's project in Mexico and for working capital and general corporate purposes.

Proceeds from the placement will be used to develop the company's project in Mexico and for working capital and general corporate purposes, the filing added.

The placement is expected to close on July 24, the company said.