EAGLE MOUNTAIN MINING LIMITED — Regulatory Filings 2021

Sep 8, 2021

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A S X A n n o u n c e m e n t - 9 S e p t e m b e r 2 0 2 1

Significant Resource Expansion Potential at Western Talon

• High-grade stacked lodes potentially extend mineralisation over 190 metres to the south in the Western Talon area at Oracle Ridge.

• Drill hole WT-21-25 intersects four high-grade lodes:

• 9.1m at 2.39 % Cu, 22.47 g/t Ag and 0.22 g/t Au from 266.4m

  • Including 1.6m at 6.8 % Cu, 67.30 g/t Ag and 0.40 g/t Au from 266.4m

• 3.7m at 3.13 % Cu, 25.38 g/t Ag and 0.75 g/t Au from 225m

• 7.4m at 1.92 % Cu, 19.18 g/t Ag and 0.44 g/t Au from 239.5m

• 13.8m at 1.54 % Cu, 13.22 g/t Ag and 0.28 g/t Au from 174.1m

• Mineralisation remains open representing significant potential for resource expansion

• Improving drilling productivity and assays pending for 15 holes

Eagle Mountain Mining CEO, Tim Mason, commented:

“The Western Talon is becoming a potential game changer at Oracle Ridge. We anticipated intersecting multiple stacked lodes in this area and WT-21-25 has encountered four strongly mineralised lodes with cumulative downhole length exceeding 34 metres. These results suggest high-grade mineralisation could be continuous for over 190 metres and strong potential remains for further extensions to the south.

The goal of the ongoing Resource Expansion program is to identify new mineralisation of sufficient grade to increase the existing Mineral Resource Estimate (MRE). These results are a meaningful step in that direction. The stacked nature of the lodes at the Western Talon means that every successful hole could add significant tonnage to the MRE.

We are seeing improved drilling productivity as the monsoon season passes. We are eagerly waiting for assays for 18 holes, including two recently completed at the Western Talon.”

Page 1

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Figure 1 – Plan view of recently received drilling results WT-21-25 at the Western Talon. Intercepts shown are those closest to the Leatherwood-Sediments contact. Mineral Resource outline not shown for clarity. (For historic exploration results refer ASX announcement 25 May 2020)

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Eagle Mountain Mining Limited ( ASX:EM2 ) (“ Eagle Mountain ”, the “ Company ”) is pleased to provide an exploration update at its 100% owned Oracle Ridge Mine Project (“Oracle Ridge”, “Project”) in Arizona, USA.

Assay results for drill-hole WT-21-25 have been received and are summarised in Table 1 and Figure 1.

Table 1 – Significant intersections above 1% Copper cut-off

Hole ID	From	To	Width	Cu	Ag	Au
	[m]	[m]	[m]	[%]	[g/t]	[g/t]
WT-21-25	174.1	187.9	13.8	1.54	13.22	0.28
	219.5	221.0	1.5	1.32	9.19	0.46
	225.0	228.7	3.7	3.13	25.38	0.75
	239.5	246.9	7.4	1.92	19.18	0.44
	266.4*	280.0	13.6	1.86	16.88	0.19
Including	266.4	275.5	9.1	2.39	22.47	0.22
Including	266.4	268.0	1.6	6.80	67.30	0.40

*Note – interval between 266.4 and 280.0 metres is reported at a 0.6% Cu cut-off grade

WT-21-25 was drilled in the Western Talon area, testing about 190 metres of undrilled area between two historic holes. 70 metres to the south of WT-21-25, historical hole C-115 intersected 17.1m at 2.14% Cu and 24.7 g/t Ag (Figure 1). Approximately 120 metres to the north of WT-21-25, historical hole C-019 had best intercepts of 2.1m at 5.76% Cu and 34.63 g/t Ag and 11.3m at 1.28% Cu and 12.32 g/t Ag and 12m at 1.13% Cu and 10.63 g/t Ag.

The potential endowment of Western Talon has been confirmed by recent results including, among others, drill hole WT-21-15 (best intersection of 10.6m at 2.10 % Cu, 16.92 g/t Ag and 0.58 g/t Au, approximately 120 metres to the north of WT-21-25).

Several observations augment the prospectivity of the Western Talon:

• Drilling shows consistently multiple “stacked lodes”. These are geological units displaying extensive skarn alteration and mineralisation occurring one on top of the other, separated by intervals of lower grade mineralisation or barren material. Four key units appear to recur in most drill holes. These are interpreted to be the same four units that are highly endowed in the northern part of the Oracle Ridge mine, where the majority of the existing MRE is located.

• Several holes at the Western Talon show these lodes to be high-grade, potentially capable of expanding the existing MRE.

• The entire Talon target is characterised by a magnetic high anomaly. The anomaly is interpreted as being caused by abundant magnetite, a strongly magnetic mineral which is often closely associated with high-grade copper mineralisation at Oracle Ridge.

WT-21-25 confirmed these observations with four stacked lodes with moderate to abundant magnetite intersected. Results include:

• 13.8m at 1.54 % Cu, 13.22 g/t Ag and 0.28 g/t Au from 174.1m

• 3.7m at 3.13 % Cu, 25.38 g/t Ag and 0.75 g/t Au from 225m

• 7.4m at 1.92 % Cu, 19.18 g/t Ag and 0.44 g/t Au from 239.5m

• 9.1m at 2.39 % Cu, 22.47 g/t Ag and 0.22 g/t Au from 266.4m o Including 1.6m at 6.8 % Cu, 67.30 g/t Ag and 0.40 g/t Au from 266.4m

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Significantly, the new results in WT-21-25 strongly suggest that favourable mineralisation in C-019 and C-115 could be continuous over the entire 190 metre distance between these holes. Two additional holes, WT-21-29 and WT-21-32, have been completed in this area with assays pending.

Mineralisation remains open to the east and west (Figure 1 and Figure 3). Strong expansion potential exists to the south of drill hole C-115 (Figure 1). The likelihood of stacked, high-grade lodes at the Western Talon extending to the southern part of the Talon target, a distance of over 250 metres from C-115, is supported by sparse historical drilling.

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Figure 2 – East-West section showing the location of recently completed hole WT-21-25. Note the unconstrained mineralisation in an east-west direction. Historic drillhole C-115 was drilled perpendicular to the section and the visual sulphides occur approximately 12 metres to the south of the reported intersection in WT-21-25. Lower intersections in C-115 occur approximately 30 and 70 metres to the south of section A-A’ and are not shown for clarity. See Figure 1 for details.

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----- Start of picture text -----

266.4m
268.0m
----- End of picture text -----

Figure 3 – Intercept within hole WT-21-25 which graded 6.80% Cu, 67.30g/t Ag and 0.40g/t Au over 1.6m

Next steps

Two holes have been completed between WT-21-25 and C-019 with assays pending. One rig is currently drilling at the Western Talon area, focusing on extensions to known mineralisation and infill to confirm the continuity of mineralisation between known intersections. The Company is currently planning to infill drill to a data density sufficient to declare an Inferred resource for the next Mineral Resource update.

Two additional drill rigs are currently operating at the project. One rig is targeting extensions to mineralisation in the southernmost part of the Talon target. The second rig is drilling the exciting goldcopper-silver target at the Golden Eagle prospect (see ASX announcement 23 August 2021), approximately two kilometres to the east of the mine portals.

18 holes are currently being cut, sampled and assayed with results pending.

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For further information please contact:

Tim Mason Mark Pitts BEng, MBA, GAICD B.Bus, FCA, GAICD Chief Executive Officer Company Secretary timateaglemountain.com.au markateaglemountain.com.au

Jane Morgan Investor and Media Relations jmatjanemorganmanagement.com.au

This Announcement has been approved for release by the Board of Eagle Mountain Mining Limited

COMPETENT PERSON STATEMENT

The information in this document that relates to new Exploration Activities is based on information compiled by Mr Fabio Vergara and Mr Brian Paull who are both Members of The Australasian Institute of Mining and Metallurgy (MAusIMM) and have sufficient experience relevant to the activity which they are undertaking to qualify as a Competent Persons as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code 2012). Mr Vergara is the Chief Geologist and Mr Paull Principal Geologist of Eagle Mountain Mining Limited and consent to the inclusion in this document of the information in the form and context in which it appears. Mr Vergara and Mr Paull hold shares and options in Eagle Mountain Mining Limited.

Where the Company references historic exploration results including technical information from previous ASX announcements including 25 May 2020, 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.

EAGLE MOUNTAIN MINING LIMITED

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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Website https://eaglemountain.com.au/

Twitter https://twitter.com/eagle_mining LinkedIn https://www.linkedin.com/company/eagle-mountain-mining-ltd/

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Attachment 1

Summary table of recent drill holes at Oracle Ridge

Hole ID	Easting	Northing	Elevation	Dip	Azimuth	Depth
	[m]	[m]	[m]	[◦]	[◦]	[m]
WT-21-06	524574	3592664	2090	47	187	468.2
WT-21-07	524574	3592664	2090	50	170	357.2
WT-21-08	524507	3592571	2096	60	190	454.8
WT-21-09	524507	3592571	2096	55	213	334.7
WT-21-10	524429	3593066	2115	60	221	353.0
WT-21-11	524429	3593066	2115	70	240	331.6
WT-21-12	524519	3592579	2099	50	173	428.4
WT-21-13	524369	3592477	2195	65	132	Abandoned
WT-21-14	524368	3592476	2195	65	132	Abandoned
WT-21-15	524360	3592480	2195	78	270	374.6
WT-21-16	524359	3592480	2195	70	270	346.9
WT-21-17	524359	3592480	2195	63	270	337.7
WT-21-18	523958	3593086	2096	57	346	159.7
WT-21-19	524360	3592481	2195	68	319	368.2
WT-21-20	523960	3593086	2096	63	008	178.9
WT-21-21	524372	3592481	2195	71	294	362.1
WT-21-22	524436	3592408	2151	79	099	487.7
WT-21-23	524437	3592407	2150	77	123	336.7
WT-21-24	523958	3593086	2094	63	029	138.4
WT-21-25	524436	3592408	2151	67	228	370.6
WT-21-26	524024	3593218	2094	62	279	242.3
WT-21-27	524560	3592300	2108	75	003	345.9
WT-21-28	524024	3593218	2094	70	279	176.2
WT-21-29	524372	3592479	2189	73	235	373.4
WT-21-30	524560	3592300	2108	85	000	312.42
WT-21-31	524560	3592300	2108	50	166	391.4
WT-21-32	524372	3592479	2189	67	239	366.1
WT-21-33	524560	3592300	2108	53	153	367.3
WT-21-34	524371	3592480	2189	64	290	359.1
WT-21-35	524559	3592298	2108	48	179	In progress
WT-21-36	524372	3592479	2189	61	247	In progress
WT-GE-01	527468	3593409	1497	65	035	261.5
WT-GE-02	527468	3593409	1497	60	002	249.9
WT-GE-03	527468	3593409	1497	76	002	295.7
WT-GE-04	527468	3593409	1497	64	065	253.3
WT-GE-05	527468	3593408	1497	50	260	309.4
WT-GE-06	528007	3593650	1485	80	180	487.7
WT-GE-07	526940	3593290	1559	60	45	639.2
WT-GE-08	526940	3593290	1559	83	45	526.1
WT-GE-09	526939	3593291	1559	50	340	In progress

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Summary table of recent significant diamond drill hole intersections at Oracle Ridge

Note - All reported intervals are downhole widths. True widths are not known nor being reported at this stage.

Hole ID	From	To	Width	Cu	Ag	Au
	[m]	[m]	[m]	[%]	[g/t]	[g/t]
WT-21-06	315.0	316.8	1.8	2.41	18.35	0.24
	338.1	340.5	2.4	2.04	21.10	0.20
	363.1	381.0	17.9	2.95	37.62	1.03
Including	363.1	375.8	12.7	3.96	49.11	1.38
Including	367.1	375.8	8.7	5.20	66.74	1.98
Including	371.6	372	0.4	34.4	367	26.2
WT-21-07	293.0	293.5	0.4	1.27	3.85	0.01
	320.4	321.2	0.9	2.02	16.35	0.65
WT-21-08	295.8	296.5	0.7	2.15	22.60	0.39
WT-21-09	180.2	182.8	2.6	1.02	8.94	0.23
	198.7	202.0	3.3	3.71	25.26	0.47
	277.0	278.6	1.6	1.53	14.55	0.28
	288.0	290.1	2.1	2.85	127	4.84
WT-21-10		22m of low-grade mineralisation
WT-21-11	284.0	285.9	1.9	1.20	11.0	0.3
WT-21-12	314.6	320.3	5.7	4.44	44.87	0.93
Including	314.6	317.6	3.0	6.80	66.70	1.50
WT-21-13		Hole Abandoned
WT-21-14		Hole Abandoned
WT-21-15	231.0	241.5	10.6	2.10	16.92	0.58
	275.4	282.0	6.6	1.29	8.54	0.10
	303.5	311.0	7.5	1.62	17.09	0.36
Including	297.7	318.9	21.2	1.33	12.53	0.22
WT-21-16	208.9	211.0	2.1	1.11	8.06	0.46
	237.0	240.5	3.5	1.52	9.66	0.50
	256.0	263.0	7.0	1.16	10.21	0.15
	299.0	303.9	4.9	1.98	24.42	0.43
within	290.0	303.9	13.9	1.01	11.14	0.26
WT-21-17		No significant intersections
WT-21-18	41.6	49.1	7.5	1.51	11.29	0.25
	50.9	60.3	9.4	2.58	18.39	0.46
within	41.6	60.3	18.7	1.95	13.78	0.33
	66.9	73.0	6.1	1.10	11.42	0.31
	94.5	96.6	2.1	1.91	15.55	0.33
	111.9	115.9	4.0	2.03	19.43	0.30
	128.7	137.8	9.1	2.23	11.27	0.11
WT-21-19	262.7	264.7	1.9	1.59	13.00	0.51
	308.0	321.6	13.3	0.73	5.18	0.07
including	319.8	321.3	1.4	1.02	3.40	0.04
WT-21-20	25.5	27.6	2.1	1.15	10.25	0.17
	44.0	47.5	3.5	1.83	16.33	0.23
	51.3	53.0	1.7	1.06	9.14	0.20
	54.7	61.5	6.8	2.60	22.24	0.43
within	44.0	61.5	17.5	1.80	15.38	0.27
	88.9	94.1	5.2	1.85	16.34	0.23

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Hole ID	From	To	Width	Cu	Ag	Au
	100.0	108.5	8.5	1.21	12.45	0.21
	116.3	128.0	11.7	2.06	27.88	0.26
	138.2	150.0	11.8	2.30	23.71	0.34
WT-21-21	223.3	242.8	19.55	0.60	5.19	0.2
Including	223.3	224.3	1.0	1.14	8.64	0.20
Including	233.6	236.1	2.5	2.36	19.20	0.75
Including	241.9	242.8	0.9	1.16	13.00	0.26
	269.8	271.2	1.3	1.38	13.20	0.34
	272.5	273.0	0.5	1.48	13.20	0.34
	282.1	283.7	1.6	1.47	15.20	0.11
	291.0	292.9	1.9	1.01	3.80	0.03
	303.3	304.2	1.0	1.60	13.35	0.17
WT-21-22	208.4	220.6	14.4	1.15	10.56	0.19
Including	208.4	211.8	3.4	3.14	29.05	0.28
Including	208.4	209.0	0.6	12.25	118.00	0.04
	240.0	242.0	2.0	2.50	14.80	0.16
	294.9	297.0	2.1	4.30	38.20	0.29
	307.1	309.0	1.9	1.12	9.33	0.27
within	294.9	309.0	14.1	1.14	9.69	0.23
within	294.9	320.4	25.5	0.89	7.91	0.18
WT-21-23	193.4	202.3	8.6	1.02	8.09	0.15
including	193.4	194.2	0.8	2.35	20.30	0.31
	209.5	211.4	1.9	2.36	12.30	0.05
	257.3	257.6	0.4	1.09	11.25	0.14
	289.5	290.1	0.6	2.32	21.40	0.51
	303.6	316.6	13.0	1.68	13.84	0.35
WT-21-24	Assayspending
WT-21-25	174.1	187.9	13.8	1.54	13.22	0.28
	219.5	221.0	1.5	1.32	9.19	0.46
	225.0	228.7	3.7	3.13	25.38	0.75
	239.5	246.9	7.4	1.92	19.18	0.44
	266.4	280.0	13.6	1.86	16.88	0.19
	266.4	275.5	9.1	2.39	22.47	0.22
Including	266.4	268.0	1.6	6.80	67.30	0.40
WT-21-26	Assays pending
WT-21-27	Assays pending
WT-21-28	Assays pending
WT-21-29	Assays pending
WT-21-30	Assays pending
WT-21-31	Assays pending
WT-21-32	Assays pending
WT-21-33	Assays pending
WT-21-34	Assays pending
WT-21-35	Hole inprogress
WT-21-36	Hole inprogress
WT-GE-01	Assayspending
WT-GE-02	Assayspending
WT-GE-03	Assayspending

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Hole ID	From	To	Width	Cu	Ag	Au
WT-GE-04	Assayspending
WT-GE-05	Assayspending
WT-GE-06	Assayspending
WT-GE-07	Assayspending
WT-GE-08	Assayspending
WT-GE-09	Hole inprogress

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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 channels, random chips, or	•Diamond drilling. Nominal sampling interval of 3m adjusted as
techniques	specific specialised industry standard measurement tools appropriate	required for local geological conditions. Core was sawn and half-core
	to the minerals under investigation, such as down hole gamma	was crushed, pulverised and split to produce a representative sample
	sondes, or handheld XRF instruments, etc). These examples should	for assaying.
	not be taken as limiting the broad meaning of sampling.	•Samples returning weighted average Cu ≥ 1% are reported in the
	• Include reference to measures taken to ensure sample representivity	announcement.
	and the appropriate calibration of any measurement tools or systems	•Wider intercepts are reported using a 0.6% Cu cut-off.
	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.
Drilling	• Drill type (eg core, reverse circulation, open-hole hammer, rotary air	•Diamond drilling completed by Boart Longyear using an LF-90 drill
techniques	blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple	rig.
	or standard tube, depth of diamond tails, face-sampling bit or other	•Core is HQ3 size.
	type, whether core is oriented and if so, by what method, etc).	•Downhole deviation surveys are performed approximately every
		30.5m (100 feet).
		•The core is oriented with a Boart Longyear TruecoreTMsystem to
		allow measurement of structural information.
Drill sample	• Method of recording and assessing core and chip sample recoveries	•Core recoveries are recorded by the drillers at the rig and verified by
recovery	and results assessed.	Company’s personnel during core logging.
	• Measures taken to maximise sample recovery and ensure	•To maximise sample recovery and core quality drilling is performed
	representative nature of the samples.	with a “triple tube” set up where two splits are inserted in the barrel to
	• Whether a relationship exists between sample recovery and grade	minimize core displacement and core loss.
	and whether sample bias may have occurred due to preferential	•No relationship has been determined between sample recoveries and
	loss/gain of fine/coarse material.	grade.
Logging	• Whether core and chip samples have been geologically and	•A quick log is completed on site and detailed logging is performed at
	geotechnically logged to a level of detailto support appropriate	the Company’sfacilityin Tucson.

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Criteria	JORC Code explanation	Commentary
	Mineral Resource estimation, mining studies and metallurgical	•Logging is both qualitative and quantitative in nature. Portable XRF
	studies.	and magnetic susceptibility measurements are taken at regular
	• Whether logging is qualitative or quantitative in nature. Core (or	intervals on the core.
	costean, channel, etc) photography.	•Core is photographed after mark-up, before sampling, wet and dry
	• The total length and percentage of the relevant intersections logged.	•100% of the relevant intersections is logged.
Sub-sampling	• If core, whether cut or sawn and whether quarter, half or all core	•The core is sawn in half by ALS Minerals at their Tucson facility. Half
techniques	taken.	of the core is bagged and sent for assaying while the other half is left
and sample	• If non-core, whether riffled, tube sampled, rotary split, etc and	in the core box for future reference.
preparation	whether sampled wet or dry.	•ALS Minerals conducted all preparation work: samples were weighed,
	• For all sample types, the nature, quality and appropriateness of the	dried, crushed and crushed to better than 70% passing 2mm; sample
	sample preparation technique.	was split with a riffle splitter and a split of up to 250g pulverised to
	• Quality control procedures adopted for all sub-sampling stages to	better than 85% passing 75µm.
	maximise representivity of samples.	•Duplicates are used to assess the sampling representativeness.
	• Measures taken to ensure that the sampling is representative of the in	When duplicates are collected the core is quartered: one quarter is
	situ material collected, including for instance results for field	sent to the laboratory as the primary sample, the other quarter is sent
	duplicate/second-half sampling.	to the laboratory as the duplicate and the remaining half of the core is
	• Whether sample sizes are appropriate to the grain size of the material	left in the box for future reference.
	being sampled.	•Sample sizes are considered appropriate to the grain size of the
		material being sampled.
Quality of	• The nature, quality and appropriateness of the assaying and	•ALS Minerals assay methods: ME-MS61 (48 element four acid ICP-
assay data	laboratory procedures used and whether the technique is considered	MS) and Au-AA23 (Au 30g charge Fire Assay with Atomic Absorption
and	partial or total.	finish). The technique is considered a near total digest of relevant
laboratory	• For geophysical tools, spectrometers, handheld XRF instruments, etc,	minerals Above detection samples are re-assayed with Au-GRA21,
tests	the parameters used in determining the analysis including instrument	Ag-OG62, Cu-OG62, Pb-OG62, Zn-OG62.
	make and model, reading times, calibrations factors applied and their	•Certified Reference Material (CRM), blanks and duplicates were
	derivation, etc.	inserted/collected at a ratio of 1:10 with a minimum of 1 CRM per
	• Nature of quality control procedures adopted (eg standards, blanks,	assays batch. CRMs are inserted at intervals never exceeding 20
	duplicates, external laboratory checks) and whether acceptable levels	samples. Acceptable levels of accuracy and precision have been
	of accuracy (ie lack of bias) and precision have been established.	established.
Verification of	• The verification of significant intersections by either independent or	•Significant intersections have been verified by Company’s Principal
sampling and	alternative company personnel.	Geologist.
assaying	• The use of twinned holes.	•No twinned holes reported.
	• Documentation of primary data, data entry procedures, data	•Logging and sampling data are collected using tablet computers and
	verification, data storage (physical and electronic) protocols.	Logchief software to ensure data integrity. The data is transferred
	• Discuss any adjustment to assay data.	weekly to the Datashed database after further data validation by the
		database manager.
		•No assay adjustment performed.

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Criteria	JORC Code explanation	Commentary
Location of	• Accuracy and quality of surveys used to locate drill holes (collar and	•NAD83 Arizona State Plane Central (International feet). Data is
data points	down-hole surveys), trenches, mine workings and other locations	presented in NAD83 UTM Zone 12N (meters).
	used in Mineral Resource estimation.	•National Elevation Dataset. Horizontal resolution of approximately
	• Specification of the grid system used.	10m and vertical resolution of 1m.
	• Quality and adequacy of topographic control.	•Drill holes are located with a hand-held GPS with an estimated
		horizontal accuracy of ±5m.
Data spacing	• Data spacing for reporting of Exploration Results.	•The data spacing of the new drilling results reported is insufficient to
and	• Whether the data spacing and distribution is sufficient to establish the	establish the degree of geological and grade continuity appropriate
distribution	degree of geological and grade continuity appropriate for the Mineral	for Mineral Resource estimation.
	Resource and Ore Reserve estimation procedure(s) and
	classifications applied.
	• _Whether sample compositing has been applied. _
Orientation of	• Whether the orientation of sampling achieves unbiased sampling of	•The relationship between drilling orientation and orientation of key
data in	possible structures and the extent to which this is known, considering	mineralised structures is yet to be determined.
relation to	the deposit type.
geological	• If the relationship between the drilling orientation and the orientation
structure	of key mineralised structures is considered to have introduced a
	sampling bias, this should be assessed and reported if material.
Sample	• The measures taken to ensure sample security.	•Core boxes are collected at the drill rig by Company personnel and
security		transported to the Tucson logging facility. After logging the core is
		delivered by Company personnel to ALS Minerals’ Tucson facilities
		for cutting, sampling, sample preparation and assaying.
Audits or	• The results of any audits or reviews of sampling techniques and data.	•No audits or reviews of sampling techniques have been completed.
reviews

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 ownership including	•The Oracle Ridge Mine Project (Project) is located in the Marble
tenement	agreements or material issues with third parties such as joint ventures,	Peak area, approximately 30 kilometres by air northeast of Tucson,
and land	partnerships, overriding royalties, native title interests, historical sites,	Arizona, U.S.A. It is located in Sections 17, 18, 19 and 20 of
tenure status	wilderness or national park and environmental settings.	Township 11 South, Range 16 East, Gila and Salt River Base and
	• The security of the tenure held at the time of reporting along with any	Meridian of the U.S. cadastral system. The geographical coordinates
	known impediments to obtaining a licence to operate in the area.	are approximately Latitude 32º28' North, Longitude 110º41' West.
		•The Project is 100% owned by Eagle Mountain Mining Ltd through its
		Arizona subsidiaries Wedgetail Operations LLC (100%) and
		Wedgetail Holdings LLC(100%).

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Criteria	JORC Code explanation	Commentary
		•The Project consists of four main areas: Oracle Ridge, OREX,
		Golden Eagle and Red Hawk.
		Oracle Ridge (including historical Tailings Storage Facility)
		•Oracle Ridge comprises 57 Patented Mining Claims and 45
		Unpatented Mining Claims within the Coronado National Forest
		(United States Forest Service).
		•100% of the mineral rights starting from 15.2m (50 feet) below
		surface are owned by Wedgetail Operations LLC.
		•In 2009, the surface rights for the area necessary for potential mining
		access (e.g. portals), processing facilities and offices have been
		secured by an industrial property lease. Under the agreement,
		Wedgetail Operations LLC leases the surface rights to the project for
		the purpose of carrying out its exploration, potential development and
		mining. The lease has an initial term of three years and is renewable
		for nine additional extensions of three years each.
		•A separate surface access agreement is in place to allow access to
		drill sites and drill pads construction.
		•There is a 3% net smelter returns royalty on the future sale of any
		metals and minerals derived from the Oracle Ridge mine.
		OREX
		•The OREX area is covered by 93 Unpatented Mining Claims within
		the Coronado National Forest (United States Forest Service).
		•100% of the mineral rights are owned by Wedgetail Operations LLC.
		•The OREX area is also partly covered by Patented Mining Claims
		controlled by Pima County. The Company has an agreement in place
		for non-ground disturbing exploration work to occur on Pima County’s
		Patented Mining Claims. The Company does not currently control the
		Mineral Rights over Pima County’s claims.
		Golden Eagle
		•The Golden Eagle area is covered by 3 Patented Mining Claims and
		32 Unpatented Mining Claims within the Coronado National Forest
		(United States Forest Service).
		•100% of the mineral rights are owned by Wedgetail Operations LLC.
		•The Golden Eagle area is also partly covered by Patented Mining
		Claims controlled by Pima County. The Company has an agreement
		in place for non-ground disturbing exploration work to occur on Pima
		County’sPatentedMining Claims. The Company doesnot currently

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Criteria	JORC Code explanation	Commentary
		control the Mineral Rights over Pima County’s claims.
		Red Hawk
		•The Red Hawk area is covered by 24 Unpatented Mining Claims
		within the Coronado National Forest (United States Forest Service).
		•100% of the mineral rights are owned by Wedgetail Operations LLC
		•The land tenure is secure at the time of reporting and there are no
		known impediments to obtaining permits to operate in the area.
Exploration	• Acknowledgment and appraisal of exploration by other parties.	Oracle Ridge
done by other parties		•The Oracle Ridge Mining District was discovered in 1873. In 1881, an 18 tonne per day copper smelter was erected at nearby Apache
		Camp. The ore for this smelter was supplied from the Hartman,
		Homestake, Leatherwood, Stratton, Geesman and other small mines
		in the area.
		•Phelps Dodge Copper Company (Phelps Dodge) entered the District
		in 1910 and undertook considerable development and exploration
		work.
		•Continental Copper, Inc began exploring in the District in the 1950s.
		Continental leased the property in 1968 with an option to purchase
		and undertook a large exploration and development program. This
		was the first time there was a large scale assessment of the
		mineralisation.
		•Union Miniere began a new exploration program in April 1980. In
		1984, a feasibility study for an 1,814 short ton per day operation was
		completed.
		•In October 1988, South Atlantic Ventures acquired Union Miniere's
		interest and entered into a 70-30 partnership with Continental to
		develop the mine. Minproc Engineers Inc. was contracted to
		supervise the confirmatory metallurgical test work. A detailed design
		was started in November 1989 on a column flotation plant.
		Construction of the facility commenced in April 1990 and the first ore
		was processed through the plant on March 3, 1991. The capacity of
		the mill was initially set at 771 short ton per day. The mill capacity
		was later expanded to approximately 1,000 short ton per day.
		•The mine closed in 1996. Production records show that
		approximately 1,200,000 short ton were milled since commencement
		of operation.
		•Between 2009 and 2015 the project was owned by Oracle Ridge
		Mining, aTSX-V listed company,whichdrilled approximately130

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Criteria	JORC Code explanation	Commentary
		surface and underground holes
		Golden Eagle
		•Small scall mining occurred in the Golden Eagle area in the first half
		of the 1900s focussed on gold. The largest operation was the
		Sanderson Mine. The mine is part of the Golden Eagle mineralised
		system but is located outside the Company’s landholding. It reported
		smelter returns between 1936 and 1941 averaging 0.4 Oz/short ton
		Au (13.7 g/t Au), 0.65 Oz/ton Ag (22.3 g/t Ag) and 0.46% Cu (small
		tonnage).
		•Oracle Ridge mining conducted exploration at Golden Eagle in the
		mid-1990s. A geophysical magnetic survey was flown over the area.
		Few magnetic anomalies, postulated to be magnetite-rich skarn were
		tested by reconnaissance drilling. Results were not deemed
		sufficiently encouraging and no further drilling was conducted in the
		area.
		OREX
		•Details of historical (pre-1980s) exploration and mining activities in
		the OREX area are not known. Few small-scale workings were found
		during mapping.
		•In 1980 a Joint Venture between Gulf Minerals Corporation and W.R.
		Grace Company completed mapping of the area and drilled 7 holes.
		Results of the program were reviewed by Oracle Ridge Mining
		Partners and summarised in an internal communication in 1992.
		Red Hawk
		•No historical exploration nor mining activities are known for the Red
		Hawkarea
Geology	• Deposit type, geological setting and style of mineralisation.	•The deposit is classified as copper dominated skarn. Minerals
		representative of both prograde and retrograde skarn development
		are present, the former being represented by diopside and garnets,
		the latter by epidote, magnetite and chlorite.
		•Copper dominated mineralisation generally contain chalcopyrite and
		bornite. The deposits are most commonly associated with Andean-
		type plutons intruded in older continental-margin carbonate
		sequences. The associated intrusive rocks are commonly porphyritic
		stocks, dikes and breccia pipes of quartz diorite, granodiorite, monzo-
		granite and tonalite composition, intruding carbonate rocks,
		calcareous-volcanic or tuffaceous rocks. The deposits shapes vary
		from stratiform and tabular to vertical pipes, narrow lenses, and
		irregular zones that are controlled byintrusive contacts.

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Criteria	JORC Code explanation	Commentary
		•The copper rich skarn deposits at Oracle Ridge are found in
		conformable lens along the contact with the Leatherwood
		Granodiorite or associated with faults and shear zones which
		intersect the Leatherwood. These have acted as feeders into the
		reactive carbonate horizons. The latter can form a “Christmas Tree”
		type shape.
Drill hole	• A summary of all information material to the understanding of the	•See body of announcement including Attachment 1.
Information	exploration results 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
	_explain why this is the case. _
Data	• In reporting Exploration Results, weighting averaging techniques,	•Exploration results are reported as weighted averages of assays
aggregation	maximum and/or minimum grade truncations (eg cutting of high	equal or above a 1% copper cut-off. Lower grade intersections are
methods	grades) and cut-off grades are usually Material and should be stated.	reported as weighted averages of assays equal or above a 0.6%
	• Where aggregate intercepts incorporate short lengths of high grade	copper cut-off. Intersections start and end at a sample at or
	results and longer lengths of low grade results, the procedure used for	exceeding the specified cut-off.
	such aggregation should be stated and some typical examples of such	•No metal equivalents reported
	aggregations should be shown in detail.
	• The assumptions used for any reporting of metal equivalent values
	_should be clearly stated. _
Relationship	• These relationships are particularly important in the reporting of	•All intervals reported are down hole length. True widths are not
between	Exploration Results.	known at this stage.
mineralisatio	• If the geometry of the mineralisation with respect to the drill hole angle
n widths and	is known, its nature should be reported.
intercept lengths	• 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) and tabulations of	•See body of announcement
	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. _

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Criteria	JORC Code explanation	Commentary
Balanced	• Where comprehensive reporting of all Exploration Results is not	•All exploration results obtained so far have been reported.
reporting	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 material, should be reported	•No other meaningful and material exploration data beyond this and
substantive	including (but not limited to): geological observations; geophysical	previous ASX announcements by the Company
exploration	survey results; geochemical survey results; bulk samples – size and
data	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 work (eg tests for lateral	•Further work will include interpretation of logging and assay results
	extensions or depth extensions or large-scale step-out drilling).	when they become available. Additional drill holes will be completed
	• Diagrams clearly highlighting the areas of possible extensions,	at Oracle Ridge in the coming weeks.
	including the main geological interpretations and future drilling areas,
	_provided this information is not commercially sensitive. _

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