INFINITY MINING LIMITED — Capital/Financing Update 2022

Aug 16, 2022

For Immediate Dissemination

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News release

ASX Announcement | 17 August 2022

EVIDENCE OF SPODUMENE RICH LITHIUM SYSTEM AT TAMBOURAH SOUTH

Highlights:

• 2,500-meter maiden drilling program to commence at Tambourah South.

• DMIRS Programme of Works (POW) approval received.

• Cultural Heritage survey completed to support ground disturbances around target areas.

• Recent field exploration including pegmatite surface mapping and sampling show evidence of a spodumene rich Lithium system at the Tambourah South tenement.

• Pegmatites have been observed at surface; stack units of up to 30 meters wide are the initial targets for drilling. (refer ASX announcement of 9 June 2022 - Infinity confirms Lithium mineralisation within Tambourah Project.)

Infinity Mining Limited (ASX: IMI) (the Company or Infinity ) is pleased to announce it has received its programme of works approval (POW) from the Western Australian Department of Mines Industry Regulations and Safety (DMIRS) for 25 RC (Reverse Circulation) holes for 2,500m advance on its 100% owned Tambourah South Lithium Project in the East Pilbara region of Western Australia.

The initial drilling program will target identified surface staked pegmatite units to determine the depth of these exposures. A brief video of the tenement and the pegmatite units can be viewed here: = https://www.youtube.com/watch?v s0LO_hhaQME

During August 2022, a cultural heritage survey was undertaken with Terra Rossa Consulting (Archaeological service providers) and representatives of the Palyku Native Title Group. Clearance is being sought to support heavy equipment access and pad clearing for drilling to commence.

Infinity Mining Limited | ABN 73 609 482 180 ASX: IMI

www.infinitymining.com.au communications@infinitymining.com.au

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For Immediate Dissemination

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News release

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Joe Groot, CEO of Infinity Mining commented:

“All field work and government approvals are now in place for Infinity to test the surface outcrops for deeper Lithium mineralisation on the Tambourah South Tenement. The Tambourah South drilling campaign will follow the release of over 200 rock chip samples we are endeavoring to fast track through the assay laboratory. The combination of assay rock sample results and the planned drilling program have the potential to significantly enhance this project both in terms of scale and prospectivity.’’

On behalf of the Board of Directors, Mr Joe Phillips, Executive Chairman For more information please contact: Joe Phillips Executive Chairman +61 7 3221 1796 communications@infinitymining.com.au

Investor Relations – Australia The Market Bull Hayley Corrigan hayley@themarketbull.com.au

Infinity Mining Limited | ABN 73 609 482 180 ASX: IMI

www.infinitymining.com.au communications@infinitymining.com.au

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For Immediate Dissemination

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News release

Competent Persons Statement

The information in this report that relates to Exploration Targets and Exploration Results is based on information compiled by Dr Darryn Hedger. Dr Hedger is the consultant to Infinity and is a Member of the AusIMM of whom have sufficient experience relevant to the styles of mineralisation under consideration and to the activity being reported 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. Dr Hedger consents to the inclusion in the report of the matters based on his information in the form and context in which it appears

Company Profile

Infinity Mining Limited holds 100% interest in 711km[2] of tenements in the Pilbara and Central Goldfields regions of Western Australia, comprising 10 exploration licences, 2 mining leases and 7 Prospecting licences. The tenements are located in highly prospective gold-copper-lithium terranes. Historically the Company has spent ~$5.5M on exploration of these tenements. The Company’s business strategy is to develop near-term gold targets in the Central Goldfields to support the longer-term investment needed to develop the Pilbara tenements (Lithium, Gold, Copper 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 ofcopper, nickel or gold; the general level of global economic activity; failure toproceed 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.

Infinity Mining Limited | ABN 73 609 482 180 ASX: IMI

www.infinitymining.com.au communications@infinitymining.com.au

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