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INFINITY MINING LIMITED Capital/Financing Update 2023

Nov 21, 2023

65121_rns_2023-11-21_0830f244-e595-4a86-9dd5-5c88b0bbf1d8.pdf

Capital/Financing Update

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ASX Announcement | 22 November 2023

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

Directors Joe Phillips Executive Chairman

Joe Groot Chief Executive Officer

Cameron McCall Non-Executive Director

Harley Groot Non-Executive Director

Dr Michael Kale Non-Executive Director

HIGH GRADE LITHIUM INTERSECTED AT TAMBOURAH SOUTH PROJECT

Highlights:

  • Outstanding new high-grade lithium results received from the RC Drilling Program has confirmed lithium (spodumene) and tantalum mineralisation is hosted within highly fractionated pegmatites over the Tambourah South Project.

  • Shallow lithium mineralisation has been intersected in all RC drillholes within the McNeill and Grumpy Prospect areas. The RC drilling has confirmed extensive Lithium-Caesium-Tantalum (LCT) style pegmatites that are up to 25m in thickness below the surface.

  • Significant drill assays include:

  • Drillhole TM23RC022:

    • 1m @ 1.45% Li2O, 1,285 ppm Rb, 136 ppm Cs & 65 ppm Ta from 66m.
  • 7m @ 79 ppm Ta from 61m.

Mima Wirakara Company Secretary

Contact Details

Kings Row Office Park Building 01, Suite 1G 40-52 McDougall St Milton QLD 4064

Tel: +61 7 3221 1796

  • Drillhole TM23RC023:

    • 8m @ 118 ppm Ta from 70m.
  • Drillhole TM23RC025: 5m @ 84 ppm Ta from 0m

  • 1m @ 0.88% Li2O & 1,210 ppm Rb from 15m.

  • 3m @ 81 ppm Ta from 21m.

  • 1m @ 0.91% Li2O & 1,050 ppm Rb from 22m.

  • Drillhole TM23RC026: 3m @ 0.99% Li2O & 1,250 ppm Rb, 100 ppm Cs & 110 ppm Ta from 19m including 1m @ 1.41% Li2O & 1,045 ppm Rb & 81 ppm Ta from 20m. 22m @ 91 ppm Ta from 17m.

    • 2m @ 1.38% Li2O & 1,258 ppm Rb, 125 ppm Cs & 105 ppm Ta from 30m including 1m @ 2.10% Li2O, 1,060 ppm Rb, 119 ppm Cs & 80 ppm Ta from 31m.
  • Multiple stacked pegmatites have a combined strike length over 1.5km – these areas remain untested by drilling.

  • Multiple new pegmatites swamp areas identified for further ground reconnaissance and exploration.

==> picture [611 x 114] intentionally omitted <==

Infinity Mining Limited (ASX: IMI) (the Company or Infinity ) is pleased to announce the RC drilling results from the recent completed 8 RC drill holes totalling 834m at Tambourah South Project (E45/4848) situated within the Pilbara Region of Western Australia.[1]

The Tambourah Project is located approximately 70km south-east of Pilgangora and Wodgina Lithium projects, and 95km southwest of Global Lithium’s Marble Bar Lithium project.

Joe Groot, CEO of Infinity Mining commented:

“The Tambourah Project continues to deliver exceptional high-grade lithium results with every exploration phase as Infinity continues to expand the lithium footprint over the project area. Based on the recent rock chip results outlining high-grade spodumene rich pegmatites in the north-western zone of tenement, we have now drilled tested the central eastern pegmatites over the McNeill Prospect area with great success in delineating shallow lithium-tantalum mineralisation hosted in LCT pegmatites”.

“Infinity continues to advance all 3 Lithium prospects at Tambourah showing it is a very fertile Lithium system that is highly under-explored. The ongoing 3D geological interpretation incorporating the results from the recent Ambient Noise Tomography (ANT) survey, plus results from these recent drillholes will enable the Company to identify other prospective concealed pegmatite targets, to be followed up in future exploration”.

RC Drilling Program

A total of 8 RC drillholes was completed at Tambourah South in August 2023. All RC holes intersected pegmatites with high rubidium, caesium and tantalum results indicating fertile LCT pegmatites. Lithium results within the pegmatites were highly variable with individual grades as high as 2.1% Li2O, 1,060 ppm Rb, 119 ppm Cs and 80 ppm Ta . Spodumene was the dominant lithium bearing mineral confirmed by Potable Spectral Solution using the Bruker Ramen Spectrometer on various pegmatite drill chips. The thickest high-grade intersection of tantalum returned 8m over 118 ppm within RC Drillhole TM23RC2023.

All completed RC drillholes locations are illustrated in Figure 1, cross sections are shown in Figures 2 and 4, along with the significant RC intersections shown in Table 1. Multiple shallow dipping pegmatite stringers, ranging from 1m to 25m wide, were encountered and are considered to be part of a larger system at depth. Table 1 shows the average grade intersections for each pegmatite interval intersected.

1 ASX Announcement 17 October 2023 Further Drilling and Surface Rock Chip Sampling Extends the Lithium System on Tambourah South Tenement.

==> picture [610 x 114] intentionally omitted <==

The combined strike length of the currently defined pegmatites is over 1.5km and has now delineated unexplored areas to further pegmatite identification. Infinity has co-funding for 2 diamond holes through the Exploration Incentive Scheme. These holes will be planned to intersect the pegmatites at depth clearing a path forward for future resource drilling.

Table 1: Significant RC Drilling Intersections

(Intercepts using>0.5% Li2O cut-off) (Intercepts using>0.5% Li2O cut-off) (Intercepts using>0.5% Li2O cut-off) (Intercepts using>0.5% Li2O cut-off)
Hole ID From To Interval
(m)
Li2O% Li
(ppm)
Rb
(ppm)
Cs
(ppm)
Ta
(ppm)
TM23RC022 61 68 7 0.28 1,310 669 51 79
66 67 1 1.45 6,740 1,285 136 65
TM23RC023 70 78 8 0.24 1,116 879 76 118
74 75 1 0.51 2,390 1,630 126 135
76 77 1 0.48 2,210 830 45 122
TM23RC025 0 5 5 0.13 592 979 58 84
15 16 1 0.88 4,080 1,210 57 49
20 21 1 0.46 2,160 1,540 79 81
21 22 1 0.38 1,750 1,810 92 106
22 23 1 0.91 4,220 1,050 74 37
TM23RC026 14 15 1 0.46 2,120 1,655 128 45
17 28 13 0.42 1,950 1,050 70 92
including 19 22 3 0.99 4,607 1,250 100 110
including 20 21 1 1.41 6,550 1,045 87 81
26 27 1 0.49 2,260 2,040 86 106
30 32 2 1.38 6,415 1,258 125 105
including 31 32 1 2.1 9,770 1,060 119 80
35 36 1 0.73 3,390 885 51 93
TM23RC027 15 17 2 0.55 2,570 815 31 56
TM23RC028 34 35 1 0.48 2,210 1,615 68 60

www.infinitymining.com.au [email protected]

3

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==> picture [388 x 577] intentionally omitted <==

Figure 1 – Tambourah Project highlighting RC Drilling Results along the various prospects and mapped pegmatites

www.infinitymining.com.au

[email protected]

4

==> picture [610 x 114] intentionally omitted <==

Drillhole TM22RC026

TM22RC026 RC drillhole was designed to drill test the continuous extensive outcropping pegmatite from surface down dip. Twenty-five (25) metres of lithium-tantalum mineralisation was encountered from 19m to 37m with the drillhole terminating within the LCT pegmatite. The pegmatite has an easterly down plunge of the high-grade discovery of 3m @ 0.99 Li2O from 19m, which included 1m @ 1.41% Li2O from 20m, 2m @ 1.38% Li2O from 30m and 1m @ 2.1% Li2O .

==> picture [426 x 287] intentionally omitted <==

Figure 2 – Drillhole TM22RC026 highlighting the mineralised intersections within the LCT pegmatite .

==> picture [238 x 195] intentionally omitted <==

Figure 3 – Tambourah Drillhole TM23RC026 drill chip samples under UV light showing lithium spodumene as pink colour.

2m @ 1.38% Li2O & 1,258 ppm Rb, 125 ppm Cs & 105 ppm Ta from 30m including 1m @ 2.10% Li2O, 1,060 ppm Rb, 119 ppm Cs & 80 ppm Ta from 31m

www.infinitymining.com.au

[email protected]

5

==> picture [610 x 114] intentionally omitted <==

Drillhole TM22RC022 and TM22RC023

These RC drillhole was designed to drill test the extensive stacked outcropping pegmatite perpendicular from surface. Seventeen (17) metres of lithium-tantalum mineralisation was encountered from 61m to 78m within the fractioned LCT pegmatite. The pegmatite has an easterly down plunge of the high-grade discovery of 1m @ 1.45 Li2O from 66m, which included 8m @ 118 ppm Ta from 70m.

==> picture [516 x 384] intentionally omitted <==

Figure 4 – Drillhole TM22RC022 & Drillhole TM22RC 023 highlighting the mineralised intersections within Pegmatites.

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 [email protected]

www.infinitymining.com.au [email protected]

6

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Investor Relations – Australia The Market Bull Hayley Corrigan [email protected]

Competent Persons Statement

The information contained in this report that relates to the Exploration Results is based on information compiled by Andrew Hawker, who is a Member of the Australasian Institute of Mining and Metallurgy. Andrew 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. Andrew Hawker 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 780.35km[2] of tenements in the East Pilbara and 13.81 km[2] in the Central Goldfields regions of Western Australia. The Company also has a number of pending applications in the East Pilbara totalling ~211km[2] . These tenements are located in highly prospective Lithium, Nickel, Copper and Gold terranes. The Company’s business strategy is to develop near-term gold targets in the Central Goldfields to support the longer-term investments needed to develop the East Pilbara tenements (Lithium, Nickel, 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 forwardlooking 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 forwardlooking 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.

www.infinitymining.com.au [email protected]

7

JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria JORC Code explanation Commentary Commentary
Sampling
techniques

Nature and quality of sampling (e.g. cut channels, random chips, or specific
specialised industry standard measurement tools appropriate to the minerals
under investigation, such as down hole gamma sondes, or handheld XRF
instruments, etc). These examples should not be taken as limiting the broad
meaning of sampling.

Include reference to measures taken to ensure sample representivity and the
appropriate calibration of any measurement tools or systems 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 (e.g. ‘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 (e.g. submarine nodules) may warrant disclosure of detailed information.
•A total of 8 RC drill holes were completed by Infinity Mining Ltd in August 2023,
totalling 834m at the Tambourah South Lithium Prospect, on tenement
E45/4848, 86 km southwest of Marble Bar, WA.
•Holes TM23RC022 to TM23RC029 were drilled to depths ranging from 10 to
200 m for a total of 834 m drilled.
•Reverse circulation drilling was used to obtain 1 m split samples of the drill
chips, from the rig-mounted cyclone, from which a 2-3 kg split sample was
collected into pre-numbered calico bags using a cone splitter.
•The remaining bulk 1-meter samples were also collected from the cyclone in
large green plastic bags and stored on site.
•Drill sampling was monitored by the qualified geologist on site.
•The calico bag samples were dried, crushed and pulverised prior to analyses.
•Zones of interest were also analysed by Sodium Peroxide fusion for digestion
10 element suite by Nagrom Laboratory in Perth, WA, assays are pending.
•107 rock chip samples between 1 to 3 kg were collected by a qualified geologist
on site. All sample information, including lithological descriptions and GPS
coordinates were recorded during the sampling process. Individual samples
were bagged in calico bags and sent to Nagrom Laboratory in Perth, WA, for
sodium peroxide fusion for 10 element suite analysis, majority of assays are
pending.
Drilling
techniques

Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast,
auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard
tube, depth of diamond tails, face-sampling bit or other type, whether core is
oriented and if so, by what method, etc).

RC drilling was conducted by Strike Drilling using a tract mounted Austech
X350 drill rig.

RC drilling was completed using a 5.5-inch face sampling hammer bit.

2 to 6 m of PVC casing was used at each hole to protect the collar.

Drillingmethods and equipment were to best industrystandard.
Drill sample
recovery

Method of recording and assessing core and chip sample recoveries and
results assessed.

Measures taken to maximise sample recovery and ensure representative
nature of the samples.

Whether a relationship exists between sample recovery and grade and
whether sample bias may have occurred due to preferential loss/gain of
fine/coarse material.

Sample recovery and moisture content was monitored by the field geologist
at the rig.

Recovery was estimated to be 90 to 100%, for the majority of samples
collected.

Samples were dry and limited groundwater was encountered.

No bias has been found between sample recovery and grade.
Logging
Whether core and chip samples have been geologically and geotechnically
logged to a level of detail to support appropriate Mineral Resource estimation,
mining studies and metallurgical studies.

Whether logging is qualitative or quantitative in nature. Core (or costean,
channel, etc) photography.

The total length and percentage of the relevant intersections logged.

Geological logs were completed for all drill holes by an experienced
geologist.

The lithology, weathering, oxidation, colour, grainsize, texture, alteration,
veining, structure and mineralisation were recorded in excel spreadsheets at
the time of drilling by an experienced geologist.

Logs are largely qualitative in nature using company logging codes.

Loggingof spodumene and Lepidolite mineralization and veiningwas
Criteria JORC Code explanation Commentary Commentary
quantitative.
Sub-sampling
techniques and
sample
preparation

If core, whether cut or sawn and whether quarter, half or all core taken.

If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled
wet or dry.

For all sample types, the nature, quality and appropriateness of the sample
preparation technique.

Quality control procedures adopted for all sub-sampling stages to maximise
representivity of samples.

Measures taken to ensure that the sampling is representative of the in-situ
material collected, including for instance results for field duplicate/second-half
sampling.

Whether sample sizes are appropriate to the grain size of the material being
sampled.

RC drilling was used to obtain 1 m split samples, from the rig-mounted
cyclone, from which a 2-3 kg split sample was collected into pre-numbered
calico bags using a cone splitter.

A second 1m split was also collected from the cyclone in the case duplicate
samples.

Samples selected for assaying was guided by visual mineralisation or the
presence of appropriated host rocks for lithium mineralisation.

Samples were mostly dry and were stored at Infinity Mining’s Hillside Camp
prior to shipping to Perth.

Samples were then transported to Nagrom laboratory in Perth for analysis.

Samples size and collection are appropriated for the pegmatite and host rock
material beingsampled.
Quality of
assay data and
laboratory tests

The nature, quality and appropriateness of the assaying and laboratory
procedures used and whether the technique is considered partial or total.

For geophysical tools, spectrometers, handheld XRF instruments, etc, the
parameters used in determining the analysis including instrument make and
model, reading times, calibrations factors applied and their derivation, etc.

Nature of quality control procedures adopted (e.g. standards, blanks,
duplicates, external laboratory checks) and whether acceptable levels of
accuracy (i.e. lack of bias) and precision have been established.

The entire samples were dried, crushed and pulverized to 85% passing <75um.
A Sodium Peroxide fusion in a Ni crucible with a HCl finish was used for
digestion. An ICP-OES and ICP-MS analysis was then carried out for 10
elements including Li2O and Li indicator elements. Li2O% was calculated from
Li ppm using a conversion factor of 2.153 at the lab, assays are currently
pending.

Infinity mining inserted 13 standards, 4 blanks and 3 duplicates and a total of
413 drill chip samples.

Infinitymininginserted 3 standards and a totalof 107 rockchip samples.
Verification of
sampling and
assaying

The verification of significant intersections by either independent or alternative
company personnel.

The use of twinned holes.

Documentation of primary data, data entry procedures, data verification, data
storage (physical and electronic) protocols.

Discuss any adjustment to assay data.

No twinned drilling has been conducted.

Samples and sample sites were documented in the field by a qualified
geologist.

Representative 1m samples of the drill chips were stored in chip trays.

Drill hole chip trays were photography in both white and UV light.

Site data were recorded on a computer in the field and later transfer to a central
repository.

Sample descriptions were check against photos.

Drill hole locations were validated using a GIS.

Li2O% was calculated by the lab from Li ppm using a conversion factor of
2.153, all the drilling assays and majority of rock chip assays are currently
pending.
Location of
data points

Accuracy and quality of surveys used to locate drill holes (collar and down-hole
surveys), trenches, mine workings and other locations used in Mineral
Resource estimation.

Specification of the grid system used.

Quality and adequacy of topographic control.

A table of drill hole collar details is included in the report and also in ASX
Announcement 24 November 2022 “Maiden Drilling Program at South
Tambourah intersects significant lithium mineralization”.

A map showing the drill hole locations is included in the body of the report.

Drill hole collars were collected using a hand-held Garmin GPS and
coordinates are referenced to GDA94, MGA Zone 50 grid.

The accuracy of the drill collar locations for East and North is around 3 to 5 m
error. The accuracy for elevation is higher (approximately 10 m).

Adownhole gyro survey tool was used to take a dip and azimuth reading every

www.infinitymining.com.au

[email protected]

9

Criteria JORC Code explanation Commentary Commentary
30mdepthdowneach hole.
Data spacing
and distribution

Data spacing for reporting of Exploration Results.

Whether the data spacing and distribution is sufficient to establish the degree
of geological and grade continuity appropriate for the Mineral Resource and
Ore Reserve estimation procedure(s) and classifications applied.

_Whether sample compositing has been applied. _

Data spacing and distribution was dependent on the identification of pegmatite
dykes.

There is insufficient data to determine any economic parameters or mineral
resources.
Orientation of
data in relation
to geological
structure

Whether the orientation of sampling achieves unbiased sampling of possible
structures and the extent to which this is known, considering the deposit type.

If the relationship between the drilling orientation and the orientation of key
mineralised structures is considered to have introduced a sampling bias, this
should be assessed and reported if material.

The drill holes were mostly drilled roughly 90 degrees to the strike of the
pegmatites observed in outcrop.

Holes were generally angled to intersect the interpreted depth extension of the
pegmatite units, at the optimal orientation.

One TM23RC026 was drilled down dip of a pegmatite to test the lateral extend
of the pegmatite body.

No sampling bias due to drilling orientation isknownat this time.
Sample
security

The measures taken to ensure sample security.

Infinity Mining staff delivered all the samples directly to Nagrom Labs for
analysis.
Audits or
reviews

The results of any audits or reviews of sampling techniques and data.

No audits or reviews of sampling techniques and data were undertaken.

www.infinitymining.com.au

[email protected]

10

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria JORC Code explanation Commentary Commentary Commentary Commentary Commentary Commentary Commentary
Mineral
tenement and
land tenure
status

Type, reference name/number, location and ownership including agreements
or material issues with third parties such as joint ventures, partnerships,
overriding royalties, native title interests, historical sites, wilderness or national
park and environmental settings.

The security of tenure held at the time of reporting along with any known
impediments to obtaining a licence to operate in the area.

South Tambourah is located within tenement E45/4848 held by Infinity Mining
Limited.

The tenement covers an area of 3.2 sq km.

The Infinity tenement (E45/4848) is in good standing.

A Heritage Agreement with the Palyku Claimant Group is in place.
Exploration
done by other
parties

Acknowledgment and appraisal of exploration by other parties.
South Tambourah

No exploration for Lithium has been reported on E45/4848.

A Ta (Li) occurrence in the north-west corner of the E45/4848, Tambourah
North 2 is reported in the WAMEX mineral occurrence database but no
description of this occurrence was found.

Nickle exploration was carried by Anglo (1969-1973). No significant
mineralisation was found.

Gold exploration was carried by Altura (2012-2015), B Keilor (2001-2005),
Mineral
Prospectors
(1986-1993),
BHP (1981-1986)
No
significant
mineralisation was found.
• Altura recognised Lepidolite bearing pegmatites approx. 2.5km south of the
tenement and sampling returned up to 1.38% Li2O (Trautman, 2013). Altura’s
focus was the granite/greenstone margin, and their tenement was adjacent to
E45/848.
Geology
Deposit type, geological setting and style of mineralisation.

Lithium-Cesium-Tantalum (or REE) pegmatites with structurally deformed
Archean Greenstones, similar to the Greenbushes, Pilgangoora and Wodgina
lithium deposits.
Drill hole
Information

A summary of all information material to the understanding of the 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.
Drill collar files included in the report and have been previously documented in
ASX Announcement 24 November 2022 “Maiden Drilling Program at South
Tambourah intersects significant lithium mineralization”. The RC drill hole
information has been inserted and tubulated below for the assay drill holes
reported.
Hole_Id
Easting
GDA94
Northing
GDA94
RL
Dip
Azimuth
Final
Depth
TM22RC022
726506
7599322
363
-60.48
277.38
200
TM22RC023
726498
7599332
364
-84.8
289.14
106
TM22RC024
726124
7599936
375
-50
30
10
TM22RC025
726114
7599931
376
-61.45
301.24
200
TM22RC026
726151
7600000
371
-44.64
88.09
38
Hole_Id Easting
GDA94
Northing
GDA94
RL Dip Azimuth Final
Depth
TM22RC022 726506 7599322 363 -60.48 277.38 200
TM22RC023 726498 7599332 364 -84.8 289.14 106
TM22RC024 726124 7599936 375 -50 30 10
TM22RC025 726114 7599931 376 -61.45 301.24 200
TM22RC026 726151 7600000 371 -44.64 88.09 38

www.infinitymining.com.au

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11

Criteria JORC Code explanation Commentary
TM22RC027 726142 7600002 366 -60.58 276.08 142
TM22RC028 726169 7598789 403 -58.69 332.84 113
TM22RC029 726374 7599325 366 -45 195 25
Data
aggregation
methods

In reporting Exploration Results, weighting averaging techniques, maximum
and/or minimum grade truncations (e.g. cutting of high grades) and cut-off
grades are usually Material and should be stated.

Where aggregate intercepts incorporate short lengths of high-grade results
and longer lengths of low-grade results, the procedure used for such
aggregation should be stated and some typical examples of such
aggregations should be shown in detail.

The assumptions used for any reporting of metal equivalent values should be
clearly stated.

No high-grade cuts or any aggregation methods have been applied.

Li2O % were calculated from Li ppm values using a conversion factor of 2.153.
Relationship
between
mineralisation
widths and
intercept
lengths

These relationships are particularly important in the reporting of Exploration
Results.

If the geometry of the mineralisation with respect to the drill hole angle is
known, its nature should be reported.

If it is not known and only the down hole lengths are reported, there should be
a clear statement to this effect (e.g. ‘down hole length, true width not known’).

The drill holes were designed to drill roughly perpendicular to the dipping
pegmatite bodies at surface.

Drill holes were oriented to return the best intersections of the mineralization
and drilled in a perpendicular manner.
Diagrams
Appropriate maps and sections (with scales) and tabulations of 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.

All maps have been inserted within the announcement. See diagrams in body
of report.
Balanced
reporting

Where comprehensive reporting of all Exploration Results is not practicable,
representative reporting of both low and high grades and/or widths should be
practiced to avoid misleading reporting of Exploration Results.

N/A
Other
substantive
exploration
data

Other exploration data, if meaningful and material, should be reported
including (but not limited to): geological observations; geophysical survey
results; geochemical survey results; bulk samples – size and method of
treatment; metallurgical test results; bulk density, groundwater, geotechnical
and rock characteristics; potential deleterious or contaminating substances.

N/A
Further work
The nature and scale of planned further work (e.g. tests for lateral extensions
or depth extensions or large-scale step-out drilling).

Diagrams clearly highlighting the areas of possible extensions, including the
main geological interpretations and future drilling areas, provided this
information is not commercially sensitive.

Refer to the main body of the announcement.

www.infinitymining.com.au

[email protected]

12