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Junior Dateline Resources is hoping to raise A$6.25-million to fund gold and rare earths exploration in California.

The ASX-listed company will issue 62.5-million shares, at a price of 10c each under its existing placement capacity, and will grant 15.62-million unquoted options to participants in the placement.

The options will have an exercise price of 13.5c each and is exercisable at any time before the third anniversary date of their grant.

Funds raised from the placement will be used to finance exploration work at the Colosseum project, and to fund general working capital.