EAGLE MOUNTAIN MINING LIMITED — Capital/Financing Update 2022

Nov 28, 2022

ASX Announcement 29 November 2022

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Share Purchase Plan Opens

Eagle Mountain Mining Limited (ASX: EM2) (“ Eagle Mountain ” or the “ Company ”) advised on 23 November 2022 that it was intending on undertaking a Share Purchase Plan (SPP) to raise $1 million. The SPP is now open to eligible Eagle Mountain shareholders to apply for up to $30,000 worth of new fully paid ordinary shares without incurring brokerage or other transaction costs.

Eagle Mountain is offering all existing eligible shareholders the opportunity to participate in the SPP at $0.165. The Offer Price represents a discount of 13.2% to the closing Share price for Eagle Mountain on the last day on which Eagle Mountain Shares traded before the SPP Offer was announced and a 12.8% discount to the volume weighted average price over the last five days on which Shares traded immediately prior to announcement of the SPP Offer.

Participation in the SPP is optional and is open to shareholders who were registered as holders of fully paid ordinary shares in the Company ( Shares ) at 4.00pm (Perth time) on Tuesday, 22 November 2022 and whose registered address is in Australia (and its external territories) or New Zealand as set out in the SPP Offer Booklet ( Eligible Shareholders ).

Certain Eligible Shareholders who are custodians holding Shares on behalf of certain beneficiaries are also invited to participate in the SPP Offer on the terms and conditions set out in the SPP Offer Booklet.

The SPP is subject to the terms and conditions set out in a communication to Eligible Shareholders, in the form of an invitation letter and the SPP Offer Booklet. A copy of both the invitation letter and the SPP Offer Booklet was lodged with the ASX today and is available to view at www.computersharecas.com.au/EM2SPP. If you are unable to access the website, please call the Company’s share registry from 8.30am to 5.00pm (Melbourne time) Monday to Friday on 1300 850 505 (callers within Australia) or +61 3 9415 4000 (callers outside Australia).

Shares issued under the SPP will rank equally with Eagle Mountain’s existing shares with effect from their issue.

Eligible Shareholders are encouraged to read the SPP Offer Booklet carefully, and if in any doubt about whether or not to apply for New Shares under the SPP, to consult with a financial or other professional adviser.

Eagle Mountain intends to target a raising of up to A$1 million via the SPP, however the Company reserves absolute discretion regarding the final amount raised, as well as to scale back applications from Eligible Shareholders on consideration of the size of shareholding at the Record Date and at completion of the SPP .

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AUS REGISTERED OFFICE
Ground Floor, 22 Stirling Highway
Nedlands WA 6009
ACN: 621 541 204
CONTACT ASX: EM2
E: info@eaglemountain.com.au eaglemountain.com.au
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The SPP is not underwritten, the Company encourages Eligible Shareholders who wish to participate to act promptly in submitting their applications. The SPP will close on Friday, 16 December 2022, however, the Company reserves the right to close the SPP early or to extend the closing date.

Indicative timetable and important dates for the Placement and SPP

Event	Date
Record Date for Eligible Shareholders to participate in	Close on 22 November 2022
the SPP
Announcement of Placement and SPP	Wednesday, 23 November 2022
SPP Open date	Tuesday, 29 November 2022
SPP Closing Date	Friday, 16 December 2022
Announcement of SPP Results	Friday, 23 December 2022
Allotment and issue of New Shares under SPP	Friday, 23 December 2022

This ASX announcement was authorised for release by the Board of Eagle Mountain Mining Limited.

For further information please contact:

Tim Mason Mark Pitts Jane Morgan Chief Executive Officer Company Secretary Investor and Media Relations tim@eaglemountain.com.au mark@eaglemountain.com.au jm@janemorganmanagement.com.au

ABOUT EAGLE MOUNTAIN MINING

Eagle Mountain is a copper-gold explorer focused on the strategic exploration and development of the Oracle Ridge Copper Mine and the highly prospective greenfields Silver Mountain Project, both located in Arizona, USA.

Arizona is at the heart of America’s mining industry and home to some of the world’s largest copper discoveries such as Bagdad, Miami and Resolution, one of the largest undeveloped copper deposits in the world.

Follow the Company’s developments through our website and social media channels:

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