EAGLE MOUNTAIN MINING LIMITED — Capital/Financing Update 2024

Mar 12, 2024

ASX Announcement 13 march 2024

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Significant Uranium-Thorium and Rare Earth Results at Silver Mountain

Highlights

• Results received following recent fieldwork include:

• 2,170ppm U3O8 and 23,114ppm ThO2 spot pXRF values on unique minerals within silica veining of pegmatites

• Assays up to 387ppm U3O8 and 493ppm ThO2 from outcropping pegmatites at Silver Dollar

• Highest uranium and thorium values related to hydrothermal alteration and quartz veining

• While elevated U3O8 and ThO2 were within pegmatites, geological interpretation indicates the pegmatites are not the source of mineralisation, providing potential for deeper high-grade mineralisation supported by local and regional scale structural controls

• Mineralisation model progressing via detailed full elemental analysis and mineral identification

• Anomalous rare earth assays averaging 205ppm total rare earth elements, with 48% of that coming from heavy rare earth oxides

• Rare earth elements are spatially associated with the uranium and thorium, typical of many uranium-rare earth element deposits in the world

• Strong indications of a wide spread heat engine, such as a buried porphyritic intrusion, from surface samples and mapping

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

“It is exciting to see our first Silver Mountain assays in over four years, particularly given they support our recent field work that indicates a new geological system supported by elevated uranium, thorium and rare earth elements. With observed similarities between field samples and new mapping across the Silver Dollar and Scarlett areas, we are eagerly following up with additional work to help establish what could be a significant exploration target for Eagle Mountain Mining.”

The Company’s consulting geologist, Dr Linus Keating, commented:

“The possibility that a “heat engine” – perhaps a porphyritic intrusion – may lie beneath Silver Mountain. Evidence to support this possibility includes:

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• 1) the peripheral precious metal - sericite veins at Scarlett;

• 2) the increasing chloritic alteration encountered in drill holes 014, 015, and 016; and the lack of strong overprinted chlorite to the south;

• 3) an appearance that drilling deeper into the Pacific Horizon … encounters more breccias and alteration may be suggesting up-dip fluid flow from a porphyritic source ...”

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.

Recent Field Sampling

Several field samples were collected from mapped pegmatite dykes near the historical Silver Dollar mine (refer to Figure 1 and Attachment 1) in the Scarlett area at Silver Mountain.

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Figure 1 – Field sample results and geology mapping in the Scarlett area (Refer to ASX announcement dated 29 February 2024). Existing uranium and thorium results converted to oxide values.

Assays returned uranium values over five times greater, on average, than results from a handheld gammaray spectrometer (RS-230) as shown in Table 1 below.

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

Sample ID	Easting	Northing	Sample Type	RS230 Gamma-RaySpectrometer	RS230 Gamma-RaySpectrometer	RS230 Gamma-RaySpectrometer			Assays
	[m]	[m]		Counts Per Second [approximate value]	U3O8 [ppm]	ThO2 [ppm]	U3O8 [ppm]	ThO2 [ppm]	HREEO* [ppm]	LREEO** [ppm]
E886614	367959	3777786	Grab	NR	14	43	127	113	56	34
E886615	367959	3777786	Grab	800	25	24	387	493	125	57
E886616	368013	3777719	Grab	550	12	26	23	43	41	68
E886617	367959	3777786	Grab	225	11	4	9	44	22	26
E886618	367959	3777786	Grab	400	10	16	133	41	61	125
E886619	367959	3777786	Grab	1,250	110	24	188	880	254	360

NR = Not Recorded

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

Several individual mineral occurrences were also assessed on other samples using a portable x-ray fluorescence analyser (pXRF). A black opaque mineral hosted in one silica flooded pegmatite sample showed very elevated uranium and thorium of 2,170ppm U3O8, 23,114ppm ThO2 (refer to Photo 1, Table 2 and Attachment 1). This black mineral is interpreted to have been precipitated from a siliceous hydrothermal fluid, providing potential for deeper high-grade mineralisation.

Table 2 – Summary of recent pXRF results at Silver Mountain

pXRF	Easting	Northing	Sample Type	ThermoFischer XL5pXRF	ThermoFischer XL5pXRF	ThermoFischer XL5pXRF
Reading ID	[m]	[m]		Cu [%]	U3O8 [ppm]	ThO2 [ppm]
1108	367959	3777786	Grab	1.06	2,170	23,114

Cautionary Statement on pXRF Results: pXRF values are from centimetre-scale spot analyses, are preliminary in nature, may not be representative of the whole rock concentration and could vary by orders of magnitude to assay results.

Petrographic work is planned to help understand this unique mineral occurrence, which could potentially be an indicator of a higher-grade mineralised system at depth. Overall, the highest values from field sampling appeared to be associated with structurally controlled hydrothermal alteration with quartz veining in pegmatites and granodiorites. Importantly, the source of higher-grade minerals are interpreted to not have originated from the pegmatites, rather from an alternative source which has remobilised these minerals. This provides opportunity for higher grade mineralisation separate to the pegmatites.

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Photo 1 – Field sample of brecciated pegmatite collected from the Silver Dollar mine. Note the quartz veins and unknown opaque black mineral grain (circled white). This localised 1cm x 1cm area returned a pXRF reading of 2,170ppm U3O8 and 23,114 ppm ThO2 (spot pXRF reading ID 1108).

Radioactivity in the Silver Dollar area correlates with:

• increasing potassic and hematite alteration

• quartz ± magnetite veining

• brecciation in pegmatites

This style of alteration appears to increase towards the regional Breakaway Fault, as shown in Figure 1, which suggests that alteration and mineralisation are structurally controlled and may be derived from a source sitting below the upper plate of the fault.

Field work in the Silver Dollar area showed that pegmatites had a similar west-northwest trend as seen in pegmatite dykes mapped to the south at the Scarlett area (see Figure 1). This indicates the presence of a structural corridor favourable for the formation and emplacement of pegmatite dykes and associated mineralisation.

The Silver Dollar pegmatite samples were also elevated in rare earth element oxides as shown in Table 1. On average, almost 50% of the total rare earth element oxides comprised the heavy rare earth minerals. Rare earth elements are known to be associated with world class granitic and pegmatite hosted uranium deposits, such as Bokan Mountain in Alaska[1] . Detailed deposit comparisons are planned, however initial findings are that this potentially bodes well for the Silver Dollar area given their apparent geological and geochemical similarities.[1,]

1 Dostal et al, 2014. The early Jurassic Bokan Mountain peralkaline granitic complex (southeastern Alaska): geochemistry, petrogenesis and rare-metal mineralization. Lithos, 202-203, pp.395-412

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Next Steps

Further detailed review is planned to identify possible analogue world class uranium-rare earth deposits, such as Bokan Mountain[2] , which will guide future exploration targeting towards a potentially larger mineralisation system beyond the known radioactive rare earth occurrences.

Additional field work, petrography and interpretation has been planned to help establish the spatial extents and geological characteristics of the radioactive rare earth occurrences identified at the Silver Dollar area, with a particular focus on features believed to be critical in controlling mineralisation intensity such as the Breakaway Fault.

Assessment of geological data from the surrounding areas, including the Pacific Horizon, is also planned given the potential for a large mineralising system to be associated with the various Silver Mountain prospects.

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

COMPETENT PERSON STATEMENT

The information in this document that relates to Exploration Activities is based on information 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 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:

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LinkedIn

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Twitter EM2 Website

2 The Bokan Mountain granitic complex is located in southern Alaska. It is host to significant rare metal (REEs, Y, U, Th, Zr and Nb) deposits, such as the Bokan Mountain rare earth and Ross-Adams uranium projects.

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Attachment 1

Summary table of recent field sample assays at Silver Mountain

Sample ID	Easting	Northing	Sample Type	RS230 Gamma-RaySpectrometer	RS230 Gamma-RaySpectrometer	RS230 Gamma-RaySpectrometer	Assays
	[m]	[m]		Counts Per Second [approximate value]	U3O8 [ppm]	ThO2 [ppm]	U3O8 [ppm] ThO2 [ppm] HREEO [ppm] LREEO* [ppm] 127 113 56 34 387 493 125 57 23 43 41 68 9 44 22 26 133 41 61 125 188 880 254 360
E886614	367959	3777786	Grab	NR	14	43
E886615	367959	3777786	Grab	800	25	24
E886616	368013	3777719	Grab	550	12	26
E886617	367959	3777786	Grab	225	11	4
E886618	367959	3777786	Grab	400	10	16
E886619	367959	3777786	Grab	1250	110	24

NR = Not Recorded

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

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]
E886614	14.2	6.1	4.2	0.3	3.3	1.3	7.4	0.7	7.6	2.1	2.7	0.8	0.6	34.5	4.3
E886615	25.1	11.7	8.6	0.4	6.1	2.5	10.3	2.4	12.9	3.3	4.9	1.4	1.6	78	12.8
E886616	30.9	4.4	2.6	0.5	3.4	0.8	13.4	0.4	15.9	3.7	4.0	0.6	0.4	25	2.5
E886617	10.7	2.3	1.6	0.3	1.9	0.4	5.4	0.3	6.4	1.6	1.7	0.3	0.2	12.6	1.6
E886618	57.2	6.6	4	0.5	5.7	1.3	25.6	0.7	28.3	7.4	6.3	1.0	0.6	36.1	4.2
E886619	172.8	33.7	18.9	1.1	26.3	6.2	65.7	2.6	77.7	19.9	24.1	4.9	2.8	138.4	19.1

Summary table of recent pXRF results at Silver Mountain

pXRF Reading ID	Easting	Northing	Sample Type	ThermoFischer XL5pXRF	ThermoFischer XL5pXRF	ThermoFischer XL5pXRF
	[m]	[m]		Cu [%]	U3O8 [ppm]	ThO2 [ppm]
1108	367959	3777786	Grab	1.06	2,170	23,114

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Attachment 2

JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

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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	altered lithologies. The key objectives were to verify the metal content of historically mined
	measurement tools appropriate to the	material, confirm historical sampling programs and test new areas/significant outcrops.
	minerals under investigation, such as	• Sample types have included dump material collected near historical mine developments,
	downhole gamma sondes, or handheld	rock chip samples from outcrops and some channel samples. Rock chips are collected and
	XRF instruments, etc). These examples	placed in sample bags with a location captured by hand-held GPS.
	should not be taken as limiting the broad
	meaning of sampling.
	• 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.

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Criteria	JORC Code explanation	Commentary
Drilling	• Drill type (eg core, reverse circulation,	• N/A – no new drilling results reported.
techniques	open-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,bywhat method,etc).
Drill sample	• Method of recording and assessing core	• N/A – no new drilling results reported.
recovery	and 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	• Mapping and associated geological logging information captured where samples have been
	been geologically and geotechnically	acquired.
	logged to a 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	up to 250g pulverised to better than 85% passing 75µm.
preparation	sampled, rotary split, etc and whether	• Sample sizes are considered appropriate to the grain size of the material being sampled.

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Criteria	JORC Code explanation	Commentary
	sampled wet or 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	A combination of assaying procedures were applied at ALS labs to ensure total elemental
data and	of the assaying and laboratory	coverage for the field samples:
laboratory tests	procedures used and whether the	• ME-ICP06 (fused bead acid digestion and ICP-AES)
	technique is considered partial or total.	• ME-MS81(fused bead acid digestion and ICP-MS)
	• For geophysical tools, spectrometers,	• ME-MS42 (aqua region digestion and ICP-MS)
	handheld XRF instruments, etc, the	• ME-4ACD81(four acid digestion and ICP-AES)
	parameters used in determining the
	analysis including instrument make and	• Certified Reference Material (CRM), blanks and duplicates were inserted/collected at a ratio
	model, reading times, calibrations factors	of 1:10, with a minimum of 1 CRM per assay batch. CRMs are inserted at intervals never
	applied and their derivation, etc.	exceeding 20 samples. Acceptable levels of accuracy and precision have been established.
	• Nature of quality control procedures	• A handheld gamma-ray spectrometer was used to determine (1) the level of radiation from
	adopted (eg standards, blanks,	decay of radioactive elements, and (2) component wavelengths to discern between
	duplicates, external laboratory checks)	uranium, thorium and potassium based on their spectral signature. The results guided
	and whether acceptable levels of	sample selection for assaying. The instrument used was a Radiation Solutions RS-230 BGO
	accuracy (ie lack of bias) and precision	Super-SPEC unit with a reading time of 60 seconds. The spectrometer had not been
	have been established.	calibrated.
		• Several unassayed grab samples were assessed using a ThermoFischer XL5 portable x-ray

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Criteria	JORC Code explanation	Commentary
		fluorescence analyser (pXRF). The results were preliminary and qualitative centimetre-scale
		spot sample analyses, used to guide further petrographic work on localised individual
		mineral occurrences. The pXRF results may not be representative of the whole rock element
		concentrations and could vary by orders of magnitude to assay results. The analysis time
		was 60 seconds and thepXRF was calibrated byThermoFischer inJune 2022.
Verification of	• The verification of significant	• Significant intersections have been verified by the Company’s Director of Exploration.
sampling and	intersections by either independent or	• No twinned holes reported.
assaying	alternative company personnel.	• Logging and sampling data are collected using tablet computers to ensure data integrity.
	• The use of twinned holes.	• No assay adjustment was performed.
	• Documentation of primary data, data
	entry procedures, data verification, data
	storage (physical and electronic)
	protocols.
	• Discuss anyadjustments to assaydata.
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	• National Elevation Dataset. Horizontal resolution of approximately 10m and vertical
	other 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 and	• Data spacing for reporting of Exploration	• Data spacing is insufficient to establish the degree of geological and grade continuity
distribution	Results.	appropriate for Mineral Resource estimation.
	• Whether the data spacing and
	distribution is sufficient to establish the
	degree of geological and grade continuity
	appropriate for the Mineral Resource and
	Ore Reserve estimation procedure(s) and
	classifications applied.
	• Whether sample compositing has been
	applied.

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Criteria	JORC Code explanation	Commentary
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.
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 reviews	• The results of any audits or reviews of	• No audits or reviews of sampling techniques have been completed.
	samplingtechniques 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	• The Silver Mountain Project (Project) is located approximately 100 kilometres by air north-
tenement and	and ownership including agreements or	west of Phoenix, Arizona, U.S.A. The geographical coordinates are approximately Latitude
land tenure	material issues with third parties such as	34º8' North, Longitude 112º23' West.
status	joint ventures, partnerships, overriding	• The Project is 100% owned by Eagle Mountain Mining Limited through its subsidiaries
	royalties, native title interests, historical	Silver Mountain Mining LLC.
	sites, wilderness or national park and	• Silver Mountain comprises 26 Patented Mining Claims, 351 Unpatented Mining Claims and
	environmental settings.	3 State Exploration Permits.
	• The security of the tenure held at the	• 100% of the surface rights for the 26 Patented Mining Claims are owned by Silver
	time of reporting along with any known	Mountain Mining LLC (private property).
	impediments to obtaining a licence to
	operate in the area.

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Criteria	JORC Code explanation	Commentary
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.
		• 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	Several types of deposit styles have been identified for the various prospects at Silver
	of 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	• No new drilling results reported.
	results including a tabulation of the
	following information for all Material drill
	holes:

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Criteria	JORC Code explanation	Commentary
	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
	clearlyexplain whythis is the case.
Data aggregation	• In reporting Exploration Results,	• All field samples have been reported without a cut-off grade applied.
methods	weighting averaging techniques,	• The field samples are considered to be anomalous in uranium given the Arizona
	maximum and/or minimum grade	Geological Survey considers values above 4.5ppm uranium to be anomalous, as
	truncations (eg cutting of high grades)	documented in their report on Naturally Occurring Radioactive Materials (NORM) in
	and cut-off grades are usually Material	Arizona. Citation: Spencer, J.E., 2002, Naturally Occurring Radioactive Materials (NORM) in
	and should be stated.	Arizona. Arizona Geological Survey Open File Report, OFR-02-13
	• Where aggregate intercepts incorporate	• Uranium, thorium and rare earth element assays are reported as oxide species:
	short lengths of high grade results and	uranium: U3O8; thorium: ThO2; heavy rare earth elements: Eu2O3, Gd2O3, Tb4O7, Dy2O3,
	longer lengths of low grade results, the	Ho2O3, Er2O3, Tm2O3, Yb2O3, Lu2O3, Y2O3; light rare earth elements: La2O3, Ce2O3, Pr6O11,
	procedure used for such aggregation	Nd2O3, Sm2O3
	should be stated and some typical	• No metal equivalents reported.
	examples of such aggregations should be
	shown in detail.
	• The assumptions used for any reporting
	of metal equivalent values should be
	clearlystated.
Relationship	• These relationships are particularly	• N/A – no drilling results reported.
between	important in the reporting of Exploration

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Criteria	JORC Code explanation	Commentary
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	• See body of announcement.
	scales) 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.
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	announcements by the Company.
exploration data	(but 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
	contaminatingsubstances.
Further work	• The nature and scale of planned further	• Further work will involve additional data review, field mapping, sampling and petrography.

ASX:EM2

eaglemountain.com.au

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Criteria	JORC Code explanation	Commentary
	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 commerciallysensitive.

ASX:EM2

eaglemountain.com.au