INFINITY MINING LIMITED — AGM Information 2024

Nov 27, 2024

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ASX ANNOUNCEMENT 28 November 2024

CHAIRMAN’S ADDRESS FOR GENERAL MEETING

Infinity Mining Limited (ASX: IMI) (the “Company” or “Infinity”) is holding its General Meeting today.

Attached is a copy of the Chairman’s address.

For more information please contact:

Joe Phillips Executive Chairman +61 7 3221 1796 communications@infinitymining.com.au

Company Profile

Infinity Mining Limited holds a diverse portfolio of projects, spanning over 3,700 km² across highly prospective regions, including NSW's Macquarie Arc, Victoria's Melbourne Zone, and the East Pilbara and Central Goldfields in Western Australia. These tenements host potential high-grade resources, including copper, gold, and other base metals, alongside the Company’s existing focus on lithium.

The flagship Cangai Copper Project, a historic high-grade copper mine with a JORC-compliant resource, offers near-term development potential. Infinity’s broader portfolio is strategically located near established mining operations, enhancing the economic viability and development timelines of its projects.

Caution Regarding Forward Looking Statements

Certain of the statements made and information contained in this press release may constitute forward-looking information and forward-looking statements (collectively, “forward-looking statements”) within the meaning of applicable securities laws. All statements herein, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future, including but not limited to statements regarding exploration results and Mineral Resource estimates or the eventual mining of any of the projects, are forward-looking statements. The forward-looking statements in this press release reflect the current expectations, assumptions or beliefs of the Company based upon information currently available to the Company. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and no assurance can be given that these expectations will prove to be correct as actual results or developments may differ materially from those projected in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include but are not limited to: unforeseen technology changes that results in a reduction in copper, nickel or gold demand or substitution by other metals or materials; the discovery of new large low cost deposits of copper, nickel or gold; the general level of global economic activity; failure to proceed with exploration programmes or determination of Mineral resources; inability to demonstrate economic viability of Mineral Resources; and failure to obtain mining approvals. Readers are cautioned not to place undue reliance on forward-looking statements due to the inherent uncertainty thereof. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. The forward-looking statements contained in this press release are made as of the date of this press release and except as may otherwise be required pursuant to applicable laws, the Company does not assume any obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

Competent Persons Statement

The information contained in this report that relates to the Exploration Results, Mineral Resource Estimate and Exploration Target Estimate is based on information compiled by Mr Andrew Hawker, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Hawker is a Geological Consultant for Infinity Mining and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he has undertaken to qualify as Competent Person as defined in the 2012 Edition of the Australasian JORC Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Hawker consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Infinity Mining Ltd / ABN: 73 609 482 180 / T: +61 7 2141 5832 / W: infinitymining.com.au Level 1, 470 St Pauls Terrace, Fortitude Valley QLD, 4000, Australia

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CHAIRMAN’S ADDRESS

28 November 2024

1. Welcome

Good morning Ladies and Gentlemen.

My name is Joe Phillips, Executive Chairman of Infinity Mining Limited and I preside as the Chairperson of today’s meeting in accordance with the constitution.

On behalf of the Board of Infinity Mining Limited, I have pleasure in welcoming all our shareholders who have made time to attend today’s General Meeting.

2. Open of Meeting / Quorum

It is now 2:00 pm and the quorum is present, I formally declare the Meeting open.

3. Introductions

Apologies have been received from Dr. Michael Kale and Kevin Woodthorpe (Non-Executive Directors) due to prior commitments.

In attendance today are Mima Wirakara (Company Secretary), Cassie Cardoso (CFO) and staff from the Brisbane office.

We also welcome Beeyen Nah and her team from Link Market Services and thank them for their assistance with today's meeting.

4. Strategic Update and Key Acquisitions

Ladies and gentlemen,

It is my pleasure to address you today and provide an update on the progress of Infinity Mining Limited over the past year. Despite the challenges faced by the lithium sector due to a downturn in commodity prices, we have had positive results from exploration across our projects in the Pilbara and Central Goldfields regions of Western Australia. Like many junior mining companies, we have had to adapt to market conditions and as a result we have shifted our focus to exploring opportunities in gold and copper.

Since February 2024, we have been reviewing exploration opportunities on the East Coast of Australia and I am pleased to say that on 15 August 2024, we entered into a multi-state acquisition. This acquisition adds new gold, copper, and base metal projects in New South Wales, Victoria, and Tasmania covering a total area of 2,000 square kilometres. Then on 3 October 2024, we strengthened our portfolio further with the acquisition of 100% of the Cangai Copper Project in New South Wales.

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The Cangai Copper Project includes three exploration tenements: EL8625, EL8635, and EL8601. Historical production from the project between 1904 and 1917 yielded approximately 5,000 tonnes of copper, along with notable quantities of gold and silver. Our recent exploration work has identified a project with substantial potential, with some of the highest-grade copper deposits in Australia. Our diamond drilling has returned assays of up to 14.45% copper, 5.93% zinc, and 40.1 grams per tonne silver[1] . We also found reverse circulation drilling results of up to 10.25% copper, 6.04% zinc, and 32.5 grams per tonne silver, with a best intersection of 11 metres at 5.94% copper[2] . These high-grade results show great promise for the future of this project.

We have also completed Downhole Electromagnetic (DHEM) surveys which have revealed large sulphide conductors and new targets that remain open at depth, presenting exciting opportunities for further exploration. There is also potential to generate near-term revenue by remediating existing processing and spoil dumps at Cangai. Metallurgical tests have confirmed high-grade copper and associated metals in the dumps which could be economically processed with modern methods. We are currently working to secure an off-site processing facility to avoid any contamination of local waterways.

We are planning an extensive exploration program at Cangai, focusing on unmined areas and the high-grade copper zone that remains. Our program will include soil sampling, drone topographic surveys and a two-stage drilling campaign to target both the known orebody and new anomalies identified from our advanced geophysical surveys, including DHEM and Fixed Loop Electromagnetic (FLEM) surveys.

We have also made significant strides with our other projects. We have completed the acquisition of GMH Resources (NSW) Pty Ltd which holds a portfolio of exploration licences in the Lachlan Fold Belt of New South Wales. These licences are prospective for gold and copper and complement the exploration licences we have acquired in Eastern Victoria and Southern Tasmania from Eastern Victoria Gold Exploration Pty Ltd.

Our new portfolio includes several promising gold projects, including Tanjil Bren and Harden both located in historically productive gold regions. We have also acquired projects with diverse mineralisation including copper, tungsten, molybdenum, tin, and other base metals. One of the most exciting additions to our portfolio is the Bogong Copper Project. Located along the Mooney-Mooney Fault System in New South Wales. This project lies within the highly prospective Lachlan Fold Belt.

Historical drilling results at Bogong have returned encouraging results. In 1974, AOG Minerals drilled 37 percussion holes with some significant copper intercepts, such as 54.9 metres at 1.06% copper, 9.2 metres at 2.02% copper, and 18.3 metres at 0.91% copper[3] . More recently in 2019, DevEx Resources drilled 7 diamond holes, further confirming the copper potential with intercepts like 39 metres at 0.5% copper and 28 metres at 0.6% copper[4] . We will now focus on compiling and verifying this historical data which will form the basis of our exploration efforts in 2025.

We believe the new projects on the East Coast are a strong complement to our existing portfolio of assets in Western Australia. Our company now has a diverse mix of projects in lithium, gold, copper, and base metals, positioning us for continued growth and exploration success.

1 ASX:CCZ ASX Announcement – 3 September 2018

2 ASX:CCZ ASX Announcement – 11 December 2018

3 ASX:DEV ASX Announcement – 22 May 2018

4 ASX:DEV ASX Announcement – 30 January 2020

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Conclusion

Looking back over the last 12 months, Infinity has made significant progress with exploration in Western Australia. While the lithium market has faced its challenges, the new focus on copper and gold exploration in New South Wales and Victoria has opened up exciting new opportunities. We believe our new focus on gold and copper will attract retail interest and support our long-term valuation.

On behalf of the Board, I would like to take this opportunity to thank my colleagues and express our sincere appreciation to our shareholders for their ongoing support.

Thank you.

Alan Joseph Phillips Executive Chairman

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