The funds raised will primarily be used for exploration on Shaw River's manganese assets at Baramine and Mount Minnie in Western Australia's Pilbara region.

The company said $2.75 million was raised through a placement while the balance of $312,000 was raised through a share purchase plan.

Shaw's major shareholder Atlas Iron subscribed for $1.35 million to maintain its 43.74% stake in the company.

"Completion of the capital raising ensures Shaw River remains well funded to progress manganese exploration at Baramine and Mount Minnie where Shaw River will be focusing its efforts over the coming year," Shaw River managing director Vincent Algar said.

Meanwhile, Brazil-focused explorer Avanco Resources is looking to raise $2.2 million to fund exploration, feasibility studies and mine permitting for its Carajas copper project in the country's north.

The funds will be raised via a renounceable rights issue of around 44 million shares at an issue price of 5c each on the basis of four shares for every five shares held on the record date of October 22, together with free attaching options on a four-for-four basis.

The prospectus relating to the offer can be accessed on the Australian Securities Exchange, while a copy will be sent to shareholders on October 27.

Silver Swan Group says it has received firm commitments for a placement of 3.3 million shares at 45c raising $1.5 million before costs.

Proceeds of the placement will be directed to ongoing exploration activities over several high-priority projects in the Meekatharra area in WA and for working capital purposes.

A portion of the placement will be taken by a director and a previous director of the company, subject to shareholder approval at the company's annual general meeting on November 27.

Settlement of the placement, other than the portion requiring shareholder approval, is expected to take place on October 30.

Panaegis Gold Mines says a prospectus was lodged with the Australian Securities and Investments Commission on October 10 for a non-renounceable rights issue to raise up to almost $1 million.

Under the rights issue, eligible shareholders will be able to subscribe for one new ordinary share for every three shares held at 3c per new share.

The funds raised will go towards exploration and development of mining licence MIN 5412 and 14 other licence areas in central Victoria held by the company as well as for working capital purposes.

Meantime, Proto Resources and Investments says it has raised around $550,000 via a share placement of around 4 million shares at 14c each to sophisticated investors in Australia and overseas.

The placement is to fund the development activities at the Barnes Hill project where a resource drilling program to upgrade the current 12.1 million tonnes at 0.083% nickel and 0.07% copper JORC indicated resource to a JORC measured category will begin shortly.

The funds will also go towards the drilling of the nickel-copper-platinum group element target at Lindeman's Bore in the Northern Territory

For each share issued, the new shareholders will receive one free listed option to purchase an ordinary share for 25c up until December 2013.

Proto said the placement of these shares was approved by shareholders at the general meeting in August.