ASPIRE MINING LIMITED — Board/Management Information 2022

Oct 9, 2022

Aspire Mining Limited ABN: 46 122 417 243

Level 9, 190 St Georges Terrace Perth WA 6000 PO Box 1918 Subiaco WA 6904 Tel: (08) 9287 4555 Fax: (08) 9321 4914 Web: www.aspiremininglimited.com Email: info@aspiremininglimited.com

ASX RELEASE

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For Immediate Release – 10 October 2022

Proposed Changes to the Board and Receipt of Director Nominations

Further to the announcement on 6 October 2022 “Date of Annual General Meeting & Closing Date for Director Nominations”, Aspire Mining Limited (ASX: AKM ) ( “Aspire” or the “ Company ”) advises that the Company’s Chairman Mr David Paull has advised the Board that he will not be seeking re-election at the upcoming Annual General Meeting ( AGM ) and so will retire as a director of the Company with effect from the close of the 2022 AGM.

Further, existing Non-Executive Director and significant shareholder Mr Neil Lithgow has advised the Company that he also intends to resign as a director of the Company with effect from the close of the 2022 AGM.

Both David and Neil joined the Board of Aspire as part of the Company’s acquisition of the Ovoot coking coal project in Mongolia in 2010 and the associated recapitalization of the Company. Since that time, Aspire has confirmed a world class coking coal resource base at Ovoot, completed a number of pre-feasibility studies (both into the mine development and the associated infrastructure required to transport Ovoot coal to market) and is now nearing conclusion of a Definitive Feasibility Study pending final permitting approvals.

The Company also advises that it has received nominations and consents to act as NonExecutive Directors from each of Mr Michael Avery and Mr Russell Taylor (the “ Candidates” ), with the Candidates being nominated to act as directors by the Company’s major 52.5% shareholder, Mr Tserenpuntsag Tserendamba.

Resolutions to consider the appointment of each of the Candidates as directors of Aspire will be included in the 2022 Notice of Annual General Meeting and Explanatory Statement that will be dispatched to the Company’s shareholders in late October 2022, with the 2022 AGM itself scheduled to be held on Tuesday, 29 November 2022.

This announcement has been authorised for release by the Chair.

David Paull

Chair

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About Aspire Mining Limited

Aspire Mining Limited is 100% owner of the world-class Ovoot Coking Coal Project, and 90% owner of the Nuurstei Coking Coal Project, both located in Khuvsgul aimag (province) of north western Mongolia.

The Company is focused upon the engineering, permitting and financing the Ovoot Coking Coal Project with the intention to mine coking coal by open pit, wash it on site and then truck the washed coking coal to a Company owned rail terminal facility in Erdenet for delivery to customers in China and Russia via the existing Mongolian rail network.

For more information contact:

David Paull, Chairman +61 8 9287 4555 Achit-Erdene Darambazar, Managing Director +976 7011 6828