EAGLE MOUNTAIN MINING LIMITED — Capital/Financing Update 2026

Apr 29, 2026

ASX ANNOUNCEMENT

30 APRIL 2026

EAGLE MOUNTAIN MINING

Eagle Mountain Mining Limited
ASX:EM2
ACN: 621 541 204
Registered office:
Level 5, 191 St George's Tce
Perth WA 6000
Contact:
info@eaglemountain.com.au
Website:
eaglemountain.com.au
Shares on issue: 1.53Bn
Current Market Cap: $15.3M
Cash: $3.1M at 31/03/2026

Board of Directors

Rick Crabb
Non-Executive Chairman

Fabio Vergara
Executive Director

Roger Port
Non-Executive Director

Michael Fennell
Non-Executive Director

Oracle Ridge transaction completes

Eagle Mountain Mining Limited (ASX:EM2) (Eagle Mountain, or the Company) is pleased to confirm that the previously announced transaction with Nittetsu Mining Co. (Nittetsu) regarding the Oracle Ridge project¹ (Oracle Ridge; Project) has completed.

Nittetsu has provided US$3.5 million that has been allocated as follows:

• US$2.5 million to Vincere Resource Holdings LLC (Vincere). The US$7.25 million loan that the Company owed to Vincere is now extinguished.
• US$1.0 million to Marble Mountain Ventures LLC (MMV) to exercise the option to acquire the Oracle Ridge mine.

Following completion of the Vincere and MMV transactions, the Joint Venture (JV) between Nittetsu and the Company is now formally established. Nittetsu is 80% owner and manager of the Project with the Company retaining a 20% interest. Nittetsu will solely contribute an additional US$16.5 million (approximately A$23 million) of Project-related costs.

Eagle Mountain's Executive Director, Fabio Vergara, commented:

"In a strong copper market, we are partnering with a well-credentialled mining company to develop an asset with a significant resource (380,000 t of copper metal)², advanced infrastructure and located in the heart of the American copper industry. The removal of the Vincere debt and the A$23 million free-carry from Nittetsu are just the icing on the cake. With sufficient funding and an unencumbered Balance Sheet we will work with Nittetsu to develop Oracle Ridge and continue our review of new opportunities."

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

For further information please contact:

Fabio Vergara
Executive Director
fabio@eaglemountain.com.au

Mark Pitts
Company Secretary
mark@eaglemountain.com.au

¹ ASX announcement dated 5 November 2025 "Potential Joint Venture Partner Identified to Advance the Oracle Ridge Project."

² See Table 1 at the back of the announcement

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EAGLE MOUNTAIN MINING

ABOUT EAGLE MOUNTAIN MINING

Eagle Mountain is a copper-gold explorer focused on the strategic exploration and development of the Oracle Ridge and Silver Mountain Projects, 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:

LinkedIn

Website

Table 1 – November 2023 Oracle Ridge Project Mineral Resource Estimate at 0.8% Cu cut-off (ASX Announcement 21 November 2023)

	Tonnes	Cu	Ag	Au	Contained Cu	Contained Ag	Contained Au
Resource Category	{Mt}	[%]	[g/t]	[g/t]	[t]	[t]	[t]
Measured	3.1	1.40	13.93	0.18	43,000 t	1.4 MOz	18 kOz
Indicated	12.2	1.36	11.96	0.18	166,000 t	4.7 MOz	71 kOz
Subtotal M+I	15.3	1.37	12.35	0.18	209,000 t	6.1 MOz	89 kOz
Inferred	13.0	1.32	9.53	0.13	171,000 t	4.0 MOz	53 kOz
Total M+I+I	28.2	1.35	11.06	0.16	380,000 t	10.0 MOz	142 kOz

Differences may occur in totals due to rounding

COMPETENT PERSON STATEMENT

Where the Company references previous exploration results and mineral resource estimates including technical information from previous ASX announcements, JORC Table 1 disclosures are included within them. The Company confirms that it is not aware of any new information or data that materially affects the information included in those announcements, and all material assumptions and technical parameters underpinning the results within those announcements continue to apply and have not materially changed. In addition, the form and context in which the Competent Persons findings are presented have not been materially modified from the original reports.