EAGLE MOUNTAIN MINING LIMITED — Capital/Financing Update 2024

Feb 6, 2024

ASX Announcement 7 February 2024

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Despatch of Prospectus for Renounceable Entitlement Offer to raise up to approximately $4.57 million

Eagle Mountain Mining Limited (ASX:EM2) (“ Eagle Mountain ” or “ the Company ”) advises that in accordance with the timetable for its recently announced renounceable entitlement offer (the Entitlement Offer ), it has today despatched a Prospectus and Entitlement and Acceptance form to all eligible shareholders and separate notifications to ineligible shareholders.

Eligible shareholders that have elected to receive notices from the Company in electronic format will receive details of the Offer via email. Notice letters provided to eligible and ineligible shareholders are attached.

Proposed Timetable

As a reminder key dates for the Entitlement Offer are set out below:

Event	Date
Record Date (at 5:00pm) (AWST)	Friday, 2 February 2024
Dispatch of Prospectus (with Entitlement & Acceptance Forms) to Eligible Shareholders Opening Date	Wednesday, 7 February 2024
Deferred settlement trading ends	Wednesday, 7 February 2024
Entitlement trading ends	Friday, 23 February 2024
New Shares quoted on a deferred settlement basis from market open	Monday, 26 February 2024
Closing Date (at 5:00pm) (AWST)	Friday, 1 March 2024
Announce results of Entitlement Offer and any Shortfall Offer to ASX	Wednesday, 6 March 2024
Issue New Securities under the Offers	Friday, 8 March 2024
Normal trading in New Shares expected to commence on ASX	Monday, 11 March 2024

Notes:

1. The above events, dates and times are indicative only and may be subject to change.

2. The commencement of trading of New Shares on ASX is subject to confirmation by ASX.

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

For further information please contact:

Tim Mason Chief Executive Officer tim@eaglemountain.com.au

Mark Pitts Jane Morgan Company Secretary Investor and Media Relations 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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LinkedIn Twitter

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EM2 Website

ASX:EM2

eaglemountain.com.au

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EM2

MR SAM SAMPLE 123 SAMPLE STREET SAMPLETOWN VIC 3000

X 9999999991

I ND

7 February 2024

Dear Shareholder

Notice to Eligible Shareholders of Renounceable Entitlement Offer

We write to you as the registered holder of fully paid ordinary shares ( Shares ) in the capital of Eagle Mountain Mining Limited (ASX: EM2) ( Company ) at today’s date.

On 29 January 2024, the Company announced that it was undertaking a partially underwritten pro rata renounceable entitlement offer of new Shares to eligible shareholders at an issue price of $0.06 per Share ( New Share ), on the basis of 1 New Share for every 4 Shares held as at 5.00pm (AWST) on 2 February 2024 ( Record Date ) to raise up to approximately $4.5 million (before costs) ( Entitlement Offer ).

In addition, for every New Share issued in the Entitlement Offer, a free attaching Option will be issued (“ New Options ”). The New Options will have a three-year term and be exercisable by payment of $0.20 each.

Proceeds from the Entitlement Offer and the Placement will be applied principally towards progressing exploration at the Oracle Ridge Copper Project and the Silver Mountain Project, as well as working capital and costs of the capital raising.

Details of the Entitlement Offer

The Entitlement Offer is being made to Eligible Shareholders pursuant to a Prospectus lodged with ASIC by the Company on 29 January 2024.

Shareholders who are eligible to participate in the Entitlement Offer ( Eligible Shareholders ) are shareholders who:

• are registered as a holder of Shares in the Company as at 5.00pm (AWST) on the Record Date; and

• • as at the Record Date, have a registered address on the Company’s share register that is in Australia, New Zealand or the United Kingdom.

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E A G L E M O U N T A I N M I N I N G L I M I T E D A C N 6 2 1 5 4 1 2 0 4

Ground Floor, 22 Stirling Hwy, Nedlands WA 6009 | PO Box 3365 Nedlands WA 6009 info@eaglemountain.com | eaglemountain.com.au

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As an Eligible Shareholder, you will be able to subscribe for New Shares under the Entitlement Offer.

Eligible Shareholders who have subscribed for their Entitlement in full may also apply for additional New Shares pursuant to the Shortfall Offer. In the event that the total applications exceed the quantity of Shortfall Shares available, applications by Eligible Shareholders will be scaled back at the discretion of the Company.

The Entitlement Offer is partially underwritten up to $1,250,000 by Shadow Mountain Mining Pty Ltd an entity associated with Managing Director Mr Charles Bass.

How to access the Entitlement Offer

1. ONLINE – The Prospectus and your personalised Entitlement and Acceptance Form (including the BPAY® payment details) can be accessed via the following website: www.computersharecas.com.au/em2

The Prospectus can also be accessed via the Company’s website: https://eaglemountain.com.au/

1. PAPER – Request a paper copy of the Prospectus and your personalised Entitlement and Acceptance Form by contacting the Information Line on 1300 850 505 (within Australia) or +61 3 9415 4000 (outside Australia) between 8:30am and 5:00pm (Sydney time) during the Offer Period.

The Offer closes at 5:00pm (WST) on Friday, 1 March 2024*.

Your personalised Entitlement and Acceptance form sets out your entitlements under the Entitlement Offer and instructions on how you may apply for New Shares and participate in the Shortfall Offer. Fractional entitlements will be rounded down to the nearest whole number.

It is important that you read the Prospectus carefully before deciding whether to participate in the Entitlement Offer and seek advice from your financial adviser if you have any queries.

If you have any further questions, you should contact your suitably qualified stockbroker, accountant or other professional adviser.

Yours sincerely

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Rick Crabb Chairman Eagle Mountain Mining Limited

*This date is indicative only and is subject to change

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EM2

MR SAM SAMPLE 123 SAMPLE STREET SAMPLETOWN VIC 3000

X 9999999991

I ND

7 February 2024

Dear Shareholder

Notice to Ineligible Shareholders of Renounceable Entitlement Offer

We write to you as the registered holder of fully paid ordinary shares ( Shares ) in the capital of Eagle Mountain Mining Limited (ASX: EM2) ( Company ) at the record date.

On 29 January 2024, the Company announced that it was undertaking a partially underwritten pro rata renounceable entitlement offer of new Shares to eligible shareholders at an issue price of $0.06 per Share ( New Share ), on the basis of 1 New Share for every 4 Shares held as at 5.00pm (AWST) on 2 February 2024 ( Record Date ) to raise up to approximately $4.5 million (before costs) ( Entitlement Offer ).

In addition, for every New Share issued in the Entitlement Offer, a free attaching Option will be issued (“ New Options ”). The New Options will have a three-year term and be exercisable by payment of $0.20 each.

Proceeds from the Entitlement Offer and the Placement will be applied principally towards progressing exploration at the Oracle Ridge Copper Project and the Silver Mountain Project, as well as working capital and costs of the capital raising.

Eligibility criteria for Entitlement Offer

Shareholders who are eligible to participate in the Entitlement Offer ( Eligible Shareholders ) are shareholders who:

• are registered as a holder of Shares in the Company as at 5.00pm (AWST) on the Record Date; and

• • as at the Record Date, have a registered address on the Company’s share register that is in Australia, New Zealand or the United Kingdom.

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E A G L E M O U N T A I N M I N I N G L I M I T E D A C N 6 2 1 5 4 1 2 0 4

Ground Floor, 22 Stirling Hwy, Nedlands WA 6009 | PO Box 3365 Nedlands WA 6009 info@eaglemountain.com | eaglemountain.com.au

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Pursuant to section 9A(3)(a) of the Corporations Act 2001 (Cth) (Corporations Act) and ASX Listing Rule 7.7.1(a), the Company has determined that it is unreasonable on this occasion to extend the Entitlement Offer to shareholders with a registered address outside of the jurisdictions described above ( Ineligible Foreign Shareholders ), having regard to the small number of Ineligible Foreign Shareholders, the relatively small number and value of Shares that would be issued to the Ineligible Foreign Shareholders under the Entitlement Offer and the costs of complying with the legal and regulatory requirements in each such jurisdiction.

As you do not satisfy the criteria above, you are deemed to be an Ineligible Foreign Shareholder for the purposes of the Entitlement Offer. Accordingly, in compliance with section 9A(3) of the Corporations Act and ASX Listing Rule 7.7.1(b), the Company wishes to inform you that it is unfortunately unable to extend to you the opportunity to participate in the Entitlement Offer. You will not be sent the documents relating to the Entitlement Offer or be able to subscribe for New Shares under the Entitlement Offer.

You are not required to do anything in response to this notice.

On behalf of the Board and management of the Company, we regret that you are not eligible to participate in the Entitlement Offer but thank you for your continued support.

If you have any further questions, you should contact your suitably qualified stockbroker, accountant or other professional adviser.

Yours sincerely

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Rick Crabb Chairman Eagle Mountain Mining Limited