EAGLE MOUNTAIN MINING LIMITED — Capital/Financing Update 2024

Jul 30, 2024

ASX Announcement 31 July 2024

==> picture [161 x 69] intentionally omitted <==

High-Grade Assays 64g/t Au, 445g/t Ag and 15% Pb in Outcrop Enhance Porphyry Potential at Silver Mountain

Highlights

• New high-grade gold, silver and lead assay results include:

• 64g/t Au, 445g/t Ag and 15% Pb across 0.5m vein

• 30.4g/t Au across 0.2m breccia zone

• 11.65g/t Au, 67g/t Ag and 3% Pb grab sample

• 7.46g/t Au and 181g/t Ag grab sample

• Evidence of porphyry and porphyry-related mineralisation from new mapping and sampling, including:

• High-grade zones with phyllic alteration

• Prospective structural orientations

• High-grade assay samples along a trend greater than 1 kilometre connecting historical mines

• High-grade features could be related to the suspected buried porphyry

• Extensions to high-grade mineralisation open along strike and at depth

• Further field work to follow up these high-grade trends is in progress

• Elevated uranium, thorium and rare earths support potential for a U/Th/REE system at depth, with results including:

• 567ppm U3O8 and 2,276ppm ThO2

• 2,024ppm total rare earth oxides

Commenting on the new mapping, assays and next steps, Eagle Mountain Mining’s CEO, Tim Mason, said:

“We are excited to be discovering a stable of high-quality targets within this underexplored, world-class mining jurisdiction. These targets are supported by the discovery of high-grade gold and silver-rich zones along significant geological trends, including one stretching well over 1km between historic mines. Sampling and mapping results suggest the high-grade features could be porphyry related mineralisation. These exceptional results complement our previously identified porphyry indicators. New outcrops of porphyry alteration have been identified, adding to all the other indicators of a porphyry system under cover."

Page 1

==> picture [118 x 41] intentionally omitted <==

Eagle Mountain Mining Limited (ASX: EM2 ) ( Eagle Mountain , or the Company ) is pleased to provide an update on the Company’s 100% owned Silver Mountain Project ( Silver Mountain , or the Project ) in Arizona, USA.

Silver Mountain is located on the Laramide Arc, a northwest-southeast trending geological feature containing world-class porphyry copper mines such as Bagdad, Miami and Resolution in Arizona. It also lies on the southern extension of a northeast-southwest prospective metallogenic belt that hosts the United Verde and Iron King volcanogenic massive sulphide ( VMS ) historical mines (refer to Figure 1).

==> picture [507 x 367] intentionally omitted <==

Figure 1 – Location of Silver Mountain and surrounding deposits in Arizona USA, showing regional-scale porphyry and VMS corridors.

A recently completed field program has identified high-grade features such as mineralised quartz veins and breccias, as well as further porphyry alteration. The alteration supports the porphyry targets, defined previously and following the recent seismic survey (refer to ASX announcement dated 9 July 2024).

Page 2

==> picture [118 x 41] intentionally omitted <==

High-Grade Results Indicative of a Porphyry-Driven System

Assays up to 64.1 g/t gold, 445 g/t silver, and 15.4% lead (details in Table 1, Photo 1 and Photo 2) have recently been received from sampling of the north Scarlett area. These high-grade breccias and veins are situated between the Silver Dollar and Gold Hill mines, along a trend mapped over one kilometre in length (refer to Figure 2). Porphyry-driven hydrothermal activity believed to be the driver for the mineralisation supported by the observed alteration.

This area presents a compelling exploration target due to its strike length, structures and outcropping highgrade mineralisation which may support a stand-alone deposit.

An additional 500-metre-long trend was mapped further north near the historical Colossal mine (refer to Figure 2). Open strike extensions exist for both the Colossal and Silver Dollar-Gold Hill trends and provide further prospectivity beyond mapped areas.

==> picture [501 x 385] intentionally omitted <==

Figure 2 – Geological mapped features and selected field sample assay results in the north Scarlett area (refer to ASX announcement dated 13 March 2024).

Page 3

==> picture [118 x 41] intentionally omitted <==

The recent high-grade results are encouraging particularly given that the field program was focused on alteration and structural data rather than specifically locating mineralisation.

Further field work is currently underway to establish the extent of mineralisation, alteration and structural extents.

==> picture [198 x 287] intentionally omitted <==

Photo 1 – Fault zone with quartz-galena vein above historical Silver Dollar Extension mine adit. The precious and base metal rich vein (highlighted by white dashed lines) was sampled across the 0.5 metre exposure as illustrated and was located within a 4 metre wide phyllic altered zone.

==> picture [268 x 201] intentionally omitted <==

Photo 2 – Breccia zone comprising quartz-feldspar clasts and a quartz-siderite matrix. The mineralised breccia (highlighted by white dashed lines) was sampled across the 0.2 metre exposure as illustrated.

Table 1 – Summary of recent field sample assays at Silver Mountain

Sample ID	Easting [m]	Northing [m]	Sample Type	Width [m]	Au [g/t]	Ag [g/t]	Pb [%]
E258686	368501	3777938	Vein Outcrop	0.5	64.1	445	15.4
E258687	368637	3777943	Breccia Outcrop	0.2	30.4	6.4	0.03
C006965	369035	3778363	Grab	NA	11.65	67.7	3.00
E258695	368358	3779151	Grab	NA	9.74	4.4	0.03
E258684	368572	3778004	Grab	NA	7.46	181	0.7

NA = Not Applicable (grab samples)

Page 4

==> picture [118 x 41] intentionally omitted <==

Further Support for Porphyry Targets

Mineralised breccias and veins were mapped adjacent to the recent geophysically identified porphyry targets (refer to ASX announcement dated 9 July 2024). Broader sampling and mapping in the north Scarlett area indicated further porphyry alteration, supporting the prospectivity of defined porphyry targets concealed by younger Tertiary cover units, as shown in Figures 2 and 3.

Field observations at the Silver Dollar-Gold Hill and Colossal trends included phyllic alteration. At the Colossal trend, a phyllic overprint of propylitic alteration was also observed. These alteration styles are indicative of a possible porphyry system nearby.

It is significant to note that these trends, in addition to the most recently mapped base and precious metal features across north Scarlett, are proximal to the Breakaway fault zone. This fault zone is aligned to the prospective NW-SE Laramide Arc structural trend, a similar feature at surrounding porphyry deposits in Arizona (refer to Figure 4).

Recent mapping supports the interpretation that precious and base metal features are likely related to prospective Laramide activity, and possibly linked to a buried porphyry system, as shown in Figures 2 and 3.

There is further prospectivity related to a separate group of mineralised breccias within and around historical mines in the prospective NE-SW latite dyke trend at Pacific Horizon (as shown in Figure 4). These features may have also formed from hydrothermal processes, with additional field work aimed at confirming this geological concept.

Page 5

==> picture [118 x 41] intentionally omitted <==

==> picture [724 x 344] intentionally omitted <==

Figure 3 – Conceptual Silver Mountain section and surface projection supporting a mapped and sampled high-grade zone potentially linked to a porphyry system at depth (left). Selected recent assay results and velocity model shown (refer to ASX announcement dated 9 July 2024). Comparison of similar features such as alteration styles to a typical porphyry deposit model (right).

Page 6

==> picture [118 x 41] intentionally omitted <==

==> picture [750 x 336] intentionally omitted <==

Figure 4 – Geological and structural similarities between Silver Mountain (left) and Bagdad copper mine (right), Arizona. Both locations comprise mineralisation within the NW-SE and NE-SW trends. The possible continuity of the NE-SW dyke trend at Silver Mountain is shown by the dashed yellow lines.

Page 7

==> picture [118 x 41] intentionally omitted <==

Uranium Prospectivity in Pegmatites

A pegmatite sample collected during this field program returned 567ppm U3O8, 2,276ppm ThO2 and 2,024ppm total rare earth oxides ( TREEO ) as shown in Table 2. Continued elevated TREEOs in radioactive pegmatites are promising, given the known association between rare earths and uranium deposits (refer to ASX announcement dated 13 March 2024). Investigation into the extent and relationship between the pegmatites elevated in uranium and a possible porphyry-related system is ongoing.

Table 2 – Radioactive Pegmatite Sample Assay Result

Sample ID	Easting [m]	Northing [m]	Sample Type	Width [m]	U3O8 [ppm]	ThO2 [ppm]	TREEO* [ppm]
E886629	367945	3777781	Grab	NA	567	2,276	2,024

NA = Not Applicable (grab samples)

*TREEO = Heavy Rare Earth Element Oxides (Eu2O3 + Gd2O3 + Tb4O7 + Dy2O3 +Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3+ Y2O3) + Light Rare Earth Element Oxides (La2O3 + Ce2O3 + Pr6O11 + Nd2O3 + Sm2O3)

Next Steps

Additional mapping and sampling is ongoing to delineate the full extent and grade of precious and base metal features, and how they could relate to a multi-mineralisation system concept.

A particular focus will be on structures interpreted to impact mineralisation, such as the Silver Dollar-Gold Hill and Colossal trends, in addition to the Breakaway, Ryland and Gold Note faults. A soil sampling program is planned to help establish the lateral extent of alteration zones. Analysis of rock samples to map pH and temperature zonation of the system is also planned to assist with vectoring towards a mineralising fluid and heat source. Further geophysical processing is nearing completion to create inversion models for the magnetics data.

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

Page 8

==> picture [118 x 41] intentionally omitted <==

COMPETENT PERSON STATEMENT

The information in this document that relates to Exploration Activities is based on, and fairly represents, information and supporting documentation that was compiled by Mr Brian Paull, who is a member of The Australasian Institute of Mining and Metallurgy (MAusIMM) and has sufficient experience relevant to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code 2012). Mr Paull is a full time employee and the Director of Exploration at Eagle Mountain Mining Limited’s wholly-owned subsidiary, Silver Mountain Mining Inc, and consents to the inclusion in this document of the information in the form and context in which it appears. Mr Paull holds shares and options in Eagle Mountain Mining Limited.

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:

==> picture [42 x 41] intentionally omitted <==

LinkedIn

==> picture [41 x 39] intentionally omitted <==

Twitter

==> picture [37 x 37] intentionally omitted <==

EM2 Website

Page 9

==> picture [118 x 40] intentionally omitted <==

Attachment 1

Summary tables of recent field sample assays at Silver Mountain^

Sample ID	Easting [m]	Northing [m]	Sample Type	Width [m]	Au [g/t]	Au [g/t]	Ag [g/t]	Ag [g/t]	Pb [%]
E258686	368501	3777938	Outcrop	0.5	64.1		445		15.4
E258687	368637	3777943	Outcrop	0.2	30.4		6.4		0.03
C006965	369035	3778363	Grab	NA	11.65		67.7		3.00
E258695	368358	3779151	Grab	NA	9.74		4.4		0.03
E258684	368572	3778004	Grab	NA	7.46		181		0.7
NA = Not Applicable (grab samples)
Sample ID	Easting [m]	Northing [m]	Sample Type	Width [m]	U3O8 [ppm]	ThO2 [ppm]			TREEO* [ppm]
E886629	367945	3777781	Grab	NA	567	2,276			2,024

NA = Not Applicable (grab samples)

NA = Not Applicable (grab samples)

*TREEO = Heavy Rare Earth Element Oxides (Eu2O3 + Gd2O3 + Tb4O7 + Dy2O3 +Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3+ Y2O3) + Light Rare Earth Element Oxides (La2O3 + Ce2O3 + Pr6O11 + Nd2O3 + Sm2O3)

^A total of 83 samples were assayed, with the six listed above considered material (>99[th] percentile Au or U3O8).

Summary table of recent field sample assays at Silver Mountain – full rare earth element oxides

Sample ID								Assays	Assays
	Ce2O3 [ppm]	Dy2O3 [ppm]	Er2O3 [ppm]	Eu2O3 [ppm]	Gd2O3 [ppm]	Ho2O3 [ppm]	La2O3 [ppm]	Lu2O3 [ppm]	Nd2O3 [ppm]	Pr6O11 [ppm]	Sm2O3 [ppm]	Tb7O4 [ppm]	Tm2O3 [ppm]	Y2O3 [ppm]	Yb2O3 [ppm]
E886629	643	79.7	40.9	2.7	73.5	15.2	285	5.7	292.8	77.8	83.8	13.4	6.1	330.2	42.7

Page 10

Attachment 2

JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

==> picture [202 x 60] intentionally omitted <==

Criteria	JORC Code explanation	Commentary
Sampling	• Nature and quality of sampling (eg cut	• Reconnaissance-style sampling at Silver Mountain during geological mapping to test
techniques	channels, random chips, or specific	mineralised material found on historical mining dumps, significant outcrops, unknown or
	specialised industry standard measurement	altered lithologies. The key objectives were to verify the metal content of historically mined
	tools appropriate to the minerals under	material, confirm historical sampling programs and test new areas/significant outcrops.
	investigation, such as downhole gamma	• Sample types have included dump material collected near historical mine developments
	sondes, or handheld XRF instruments, etc).	and rock chip samples from outcrops. Samples are collected and placed in sample bags
	These examples should not be taken as	with a location captured by hand-held GPS. Sample widths are noted for rock chip samples
	limiting the broad meaning of sampling.	from outcrop.
	• Include reference to measures taken to
	ensure sample representivity and the
	appropriate calibration of any
	measurement tools or systems used.
	• Aspects of the determination of
	mineralisation that are Material to the
	Public Report.
	• In cases where ‘industry standard’ work has
	been done this would be relatively simple
	(eg ‘reverse circulation drilling was used to
	obtain 1 m samples from which 3 kg was
	pulverised to produce a 30 g charge for fire
	assay’). In other cases, more explanation
	may be required, such as where there is
	coarse gold that has inherent sampling
	problems. Unusual commodities or
	mineralisation types (eg submarine
	nodules) may warrant disclosure of detailed
	information.

ASX:EM2

Page 11

eaglemountain.com.au

==> picture [128 x 44] intentionally omitted <==

Criteria	JORC Code explanation	Commentary
Drilling	• Drill type (eg core, reverse circulation, open-	• There was no new drill data presented in the report.
techniques	hole hammer, rotary air blast, auger,
	Bangka, sonic, etc) and details (eg core
	diameter, triple or standard tube, depth of
	diamond tails, face-sampling bit or other
	type, whether the core is oriented and if so,
	_by what method, etc). _
Drill sample	• Method of recording and assessing core and	• There was no new drill data presented in the report.
recovery	chip sample recoveries and results
	assessed.
	• Measures taken to maximise sample
	recovery and ensure representative nature
	of the samples.
	• Whether a relationship exists between
	sample recovery and grade and whether
	sample bias may have occurred due to
	preferential loss/gain of fine/coarse
	material.
Logging	• Whether core and chip samples have been	• Mapping and associated geological logging information captured as part of the sampling
	geologically and geotechnically logged to a	and mapping field program.
	level of detail to support appropriate
	Mineral Resource estimation, mining studies
	and metallurgical studies.
	• Whether logging is qualitative or
	quantitative in nature. Core (or costean,
	channel, etc) photography.
	• The total length and percentage of the
	relevant intersections logged.
Sub-sampling	• If core, whether cut or sawn and whether	• ALS Minerals conducted all preparation work: surface samples were weighed, dried and
techniques and	quarter, half or all core taken.	crushed to better than 70% passing 2mm; sample was split with a riffle splitter and a split of
sample	• If non-core, whether riffled, tube sampled,	up to 250g pulverised to better than 85% passing 75µm.
preparation	rotary split, etc and whether sampled wet or	• Sample sizes are considered appropriate to the grain size of the material being sampled.

ASX:EM2

eaglemountain.com.au

==> picture [128 x 44] intentionally omitted <==

Criteria	JORC Code explanation	Commentary
	dry.
	• For all sample types, the nature, quality and
	appropriateness of the sample preparation
	technique.
	• Quality control procedures adopted for all
	sub-sampling stages to maximise
	representivity of samples.
	• Measures taken to ensure that the sampling
	is representative of the in situ material
	collected, including for instance results for
	field duplicate/second-half sampling.
	• Whether sample sizes are appropriate to
	the grain size of the material being
	sampled.
Quality of assay	• The nature, quality and appropriateness of	A combination of assaying procedures were applied at ALS labs to ensure total elemental
data and	the assaying and laboratory procedures	coverage for the field samples:
laboratory tests	used and whether the technique is	• ME-MS61 (four acid digestion followed by ICP-MS)
	considered partial or total.	• ME-MS81 (lithium borate fusion followed by acid dissolution and ICP-AES)
	• For geophysical tools, spectrometers,	• ME-ICP06 (fusion decomposition followed by ICP-AES)
	handheld XRF instruments, etc, the	• ME-IR08 (total carbon by C-IR07 and total sulphur by S-IR08)
	parameters used in determining the	• ME-MS42 (aqua regia digestion followed by ICP-MS)
	analysis including instrument make and	• ME-4ACD81 (four acid digestion followed by ICP-AES)
	model, reading times, calibrations factors	• Au-AA23 (gold fire assay and AAS)
	applied and their derivation, etc.	• Above detection samples are re-assayed with XRF-10 (thorium), Ag-OG62 (silver) , Cu-OG62
	• Nature of quality control procedures	(copper), Pb-OG62 (lead) and Au-GRA21 (gold)
	adopted (eg standards, blanks, duplicates,
	external laboratory checks) and whether	• Certified Reference Material (CRM), blanks and duplicates were inserted/collected at a ratio
	acceptable levels of accuracy (ie lack of	of 1:10, with a minimum of 1 CRM per assay batch. CRMs are inserted at intervals never
	bias) andprecision have been established.	exceeding20 samples. Acceptable levels of accuracyandprecision have been established.
Verification of	• The verification of significant intersections	• Significant intersections have been verified by the Company’s Director of Exploration.
sampling and	by either independent or alternative	• No twinned holes reported.
assaying	company personnel.	• Logging and sampling data are recorded in field notebooks and converted to a digital

ASX:EM2

eaglemountain.com.au

==> picture [128 x 44] intentionally omitted <==

Criteria	JORC Code explanation	Commentary
	• The use of twinned holes.	format.
	• Documentation of primary data, data entry	• No assay adjustment was performed.
	procedures, data verification, data storage
	(physical and electronic) protocols.
	• Discuss any adjustments to assay data.
Location of data	• Accuracy and quality of surveys used to	• NAD83 Arizona State Plane Central (International feet). Data is presented in NAD83 UTM
points	locate drill holes (collar and down-hole	Zone 12N (meters).
	surveys), trenches, mine workings and other	• National Elevation Dataset. Horizontal resolution of approximately 10m and vertical
	locations used in Mineral Resource	resolution of 1m.
	estimation.	• Drill holes and surface samples are located with a hand-held GPS with an estimated
	• Specification of the grid system used.	horizontal accuracy of ±5m.
	• Quality and adequacy of topographic
	control.
Data spacing	• Data spacing for reporting of Exploration	• Data spacing of surface field samples is variable and based on the extent of available
and distribution	Results.	outcrop, mining dumps and other applicable exposures.
	• Whether the data spacing and distribution	• Data spacing is insufficient to establish the degree of geological and grade continuity
	is sufficient to establish the degree of	appropriate for Mineral Resource estimation.
	geological and grade continuity appropriate	• Sample compositing has not been applied.
	for the Mineral Resource and Ore Reserve
	estimation procedure(s) and classifications
	applied.
	• Whether sample compositing has been
	applied.
Orientation of	• Whether the orientation of sampling	• The relationship between drilling and surface sampling orientation and orientation of key
data in relation	achieves unbiased sampling of possible	mineralised structures is yet to be determined.
to geological	structures and the extent to which this is	• Drill holes are designed to intersect targets at a perpendicular angle.
structure	known, considering the deposit type.
	• If the relationship between the drilling
	orientation and the orientation of key
	mineralised structures is considered to have
	introduced a sampling bias, this should be
	assessed and reported if material.

ASX:EM2

eaglemountain.com.au

==> picture [128 x 44] intentionally omitted <==

Criteria	JORC Code explanation	Commentary
Sample security	• The measures taken to ensure sample	• All field samples were collected by Company personnel or consultants and securely stored
	_security. _	at the Companyofficeprior to dropoff at the assayinglaboratories.
Audits or	• The results of any audits or reviews of	• No audits or reviews of sampling techniques have been completed.
reviews	sampling techniques and data.

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	Commentary
Mineral	• Type, reference name/number, location and	• The Silver Mountain Project (Project) is located approximately 100 kilometres by air north-
tenement and	ownership including agreements or material	west of Phoenix, Arizona, U.S.A. The geographical coordinates are approximately Latitude
land tenure	issues with third parties such as joint	34º8' North, Longitude 112º23' West.
status	ventures, partnerships, overriding royalties,	• The Project is 100% owned by Eagle Mountain Mining Limited through its subsidiary
	native title interests, historical sites,	company Silver Mountain Mining LLC.
	wilderness or national park and	• Silver Mountain comprises 26 Patented Mining Claims, 353 Unpatented Mining Claims and
	environmental settings.	4 State Exploration Permits.
	• The security of the tenure held at the time of	• 100% of the surface rights for the 26 Patented Mining Claims are owned by Silver
	reporting along with any known	Mountain Mining LLC (private property).
	impediments to obtaining a licence to
	operate in the area.
Exploration done	• Acknowledgment and appraisal of	• It is believed that the first mining claims at the Pacific Horizon prospect were staked in
by other parties	exploration by other parties.	1898.
		• Between 1906 and 1912 the Pacific Copper Mining Company sunk a 150m (500ft) shaft
		into the gossan at the Pacific Mine.
		• Drilling was carried out in 1966, however it is unclear who completed the program
		(possibly Heinrichs GeoExploration)
		• In 1968 Heinrichs GeoExploration conducted some dual frequency IP, resistivity and
		magnetic geophysical surveys. This was followed by further geophysical surveys in 1978
		using Very Low Frequency (VLF) Electro Magnetics (EM).
		• KOOZ contracted Applied Geophysics in 1978 to run EM surveys (VLF, MaxMin II and Crone
		Horizontal Shootback) over selected areas.

ASX:EM2

eaglemountain.com.au

==> picture [128 x 44] intentionally omitted <==

Criteria	JORC Code explanation	Commentary
		• Detailed geological mapping was carried out by Kennecott in 1991 and 1992, focussing on
		the eastern and central areas of the Pacific Horizon prospect. Kennecott’s mapping was
		based on previous work done by Winegar et al, (1978)
		• Ferguson & Johnson (2013, Arizona Geological Survey) completed a mapping program
		which covered the Pacific Horizon area.
Geology	• Deposit type, geological setting and style of	Several types of deposit styles have been identified for the various prospects at Silver
	mineralisation.	Mountain:
		• Proterozoic volcanogenic massive sulphides (VMS) in Precambrian greenstone (Pacific
		Horizon prospect)
		• Quartz-carbonate breccia with associated copper-gold-silver mineralisation (Pacific
		Horizon prospect)
		• Younger (Laramide arc) copper-gold porphyry and associated gold veins (Scarlett
		prospect)
		• Pegmatite dykes elevated in uranium and thorium (Scarlett prospect)
		• Overprinting and remobilisation of fluids by Cenozoic trans-tension resulting in
		detachment style mineralisation(Red Muleprospect)
Drill hole	• A summary of all information material to	• New field sample results have been reported in the body of the announcement.
information	the understanding of the exploration results	• There was no new drill data presented in the report.
	including a tabulation of the following
	information for all Material drill holes:
	o easting and northing of the drill hole
	collar
	o elevation or RL (Reduced Level –
	elevation above sea level in metres) of
	the drill hole collar
	o dip and azimuth of the hole
	o down hole length and interception depth
	o hole length.
	• If the exclusion of this information is
	justified on the basis that the information is
	not Material and this exclusion does not
	detract from the understanding of the
	report, the Competent Person should clearly

ASX:EM2

eaglemountain.com.au

==> picture [128 x 44] intentionally omitted <==

Criteria	JORC Code explanation	Commentary
	explain why this is the case.
Data	• In reporting Exploration Results, weighting	• A total of 83 field samples were assayed with the majority returning values not deemed
aggregation	averaging techniques, maximum and/or	material. Six samples were considered material and have been reported, without a cut-off
methods	minimum grade truncations (eg cutting of	grade applied. Material samples comprised assays that exceeded the 99thpercentile for
	high-grades) and cut-off grades are usually	gold (> 7g/t Au) or uranium (> 15ppm U3O8)
	Material and should be stated.	• Field samples with reported uranium values are deemed to be anomalous, given the
	• Where aggregate intercepts incorporate	Arizona Geological Survey considers values above 4.5ppm uranium to be anomalous as
	short lengths of high-grade results and	documented in their report on Naturally Occurring Radioactive Materials (NORM) in
	longer lengths of low grade results, the	Arizona. Citation: Spencer, J.E., 2002, Naturally Occurring Radioactive Materials (NORM) in
	procedure used for such aggregation should	Arizona. Arizona Geological Survey Open File Report, OFR-02-13
	be stated and some typical examples of	• Uranium, thorium and rare earth element assays are reported as oxide species:
	such aggregations should be shown in	uranium: U3O8; thorium: ThO2; heavy rare earth elements: Eu2O3, Gd2O3, Tb4O7, Dy2O3,
	detail.	Ho2O3, Er2O3, Tm2O3, Yb2O3, Lu2O3, Y2O3; light rare earth elements: La2O3, Ce2O3, Pr6O11,
	• The assumptions used for any reporting of	Nd2O3, Sm2O3
	metal equivalent values should be clearly	• No metal equivalents reported.
	stated.
Relationship	• These relationships are particularly	• There was no new drill data presented in the report.
between	important in the reporting of Exploration
mineralisation	Results.
widths and	• If the geometry of the mineralisation with
intercept lengths	respect to the drill hole angle is known, its
	nature should be reported.
	• If it is not known and only the down hole
	lengths are reported, there should be a
	clear statement to this effect (eg ‘down hole
	_length, true width not known’). _
Diagrams	• Appropriate maps and sections (with scales)	• See body of announcement.
	and tabulations of intercepts should be
	included for any significant discovery being
	reported These should include, but not be
	limited to a plan view of drill hole collar
	locations and appropriate sectional views.

ASX:EM2

eaglemountain.com.au

==> picture [128 x 44] intentionally omitted <==

Criteria	JORC Code explanation	Commentary
Balanced	• Where comprehensive reporting of all	• All exploration results obtained so far have been reported.
reporting	Exploration Results is not practicable,
	representative reporting of both low and
	high-grades and/or widths should be
	practiced to avoid misleading reporting of
	Exploration Results.
Other	• Other exploration data, if meaningful and	• No other meaningful and material exploration data beyond this and previous ASX
substantive	material, should be reported including (but	announcements by the Company.
exploration data	not limited to): geological observations;
	geophysical survey results; geochemical
	survey results; bulk samples – size and
	method of treatment; metallurgical test
	results; bulk density, groundwater,
	geotechnical and rock characteristics;
	potential deleterious or contaminating
	substances.
Further work	• The nature and scale of planned further	• Further work as detailed in Next Steps within the body of the announcement.
	work (eg tests for lateral extensions or
	depth extensions or large-scale step-out
	drilling).
	• Diagrams clearly highlighting the areas of
	possible extensions, including the main
	geological interpretations and future drilling
	areas, provided this information is not
	commercially sensitive.

ASX:EM2

eaglemountain.com.au