EAGLE MOUNTAIN MINING LIMITED — Capital/Financing Update 2019

Oct 27, 2019

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A S X A n n o u n c e m e n t | 2 8 O C T O B E R 2 0 1 9

U nsecured Loan by Director Related Entity to the Company

The Directors are pleased to announce that Quartz Mountain Mining Pty Ltd as trustee for the Bass Family Trust has today entered into an agreement to make an unsecured loan of US$1,000,000 (‘Principal”) to Eagle Mountain Mining Limited on the following terms:

1. The Company is not restricted on how it may utilise the funds, however the loan is intended for general working capital purposes as well as to fund the strategic review of projects and opportunities;

2. The term of the loan is 12 months with a maturity date of 27 October 2020;

3. The Principal attracts interest of 2% per annum, however the first 3 months of the term is interest free;

4. The Company may repay all or part of the Principal and any of the interest at any time prior to the maturity date without penalty; and

5. The funds will be drawn down in one tranche when the Company requests drawdown (expected to be within 10 days).

The independent Directors wish to thank Mr Bass for his financial support of Eagle Mountain Mining Limited through the provision of this loan.

For further information please contact:

Rick Crabb Mark Pitts B.Juris (Hons), LLB, MBA, FAICD B.Bus, FCA, GAICD Chairman Company Secretary info@eaglemountain.com.au mark@eaglemountain.com.au