INFINITY MINING LIMITED — Capital/Financing Update 2023

Sep 18, 2023

Proposed issue of securities

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Update Summary

Entity name INFINITY MINING LIMITED

Announcement Type

Update to previous announcement

Date of this announcement 19/9/2023 Reason for update to a previous announcement Amended Timetable to the issue of Bonus Options to eligible shareholders.

Refer to next page for full details of the announcement

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Proposed issue of securities

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Part 1 - Entity and announcement details

1.1 Name of +Entity

INFINITY MINING LIMITED

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).

1.2 Registered Number Type Registration Number ABN 73609482180

1.3 ASX issuer code

IMI

1.4 The announcement is

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Update/amendment to previous announcement

1.4a Reason for update to a previous announcement

Amended Timetable to the issue of Bonus Options to eligible shareholders.

1.4b Date of previous announcement to this update

4/9/2023

1.5 Date of this announcement

19/9/2023

1.6 The Proposed issue is:

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A +bonus issue

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Part 2 - Details of proposed bonus issue

Part 2A - Conditions

2A.1 Do any external approvals need to be obtained or other conditions satisfied before the +bonus issue can proceed on an unconditional basis? No

Part 2B - Issue details

Class or classes of +securities that will participate in the proposed issue and class or classes of +securities proposed to be issued

proposed to be issued
ASX +security code and description
IMI : ORDINARY FULLY PAID
Is the proposed security a 'New	Will the proposed issue of this	If the entity has quoted company
class' (+securities in a class that is	+security include an offer of	options, do the terms entitle option
not yet quoted or recorded by ASX)	attaching +securities?	holders to participate on exercise?
or an 'Existing class' (additional	No	No
securities in a class that is already
quoted or recorded by ASX)?
New class

Details of +securities proposed to be issued

ISIN Code (if Issuer is a foreign company and +securities are non CDIs)

Have you received confirmation from ASX that the terms of the proposed +securities are appropriate and equitable under listing rule 6.1? Will the entity be seeking quotation of the 'new' class of +securities on ASX? ASX +security code New class-code to be confirmed +Security description ASX ticker: IMIO (Options expiring 19 September 2024) Yes No	Have you received confirmation from ASX that the terms of the proposed +securities are appropriate and equitable under listing rule 6.1? Will the entity be seeking quotation of the 'new' class of +securities on ASX? ASX +security code New class-code to be confirmed +Security description ASX ticker: IMIO (Options expiring 19 September 2024) Yes No
New class-code to be confirmed	ASX ticker: IMIO (Options expiring 19 September 2024)

+Security type

Options

Issue ratio (ratio to existing holdings at which the proposed +securities will be issued)

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The quantity of additional +securities For a given quantity of +securities to be issued held 1 4 What will be done with fractional Maximum number of +securities entitlements? proposed to be issued (subject to rounding) Fractions rounded down to the nearest 28,336,303 whole number or fractions disregarded

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Options details +Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.2000 19/9/2024 Details of the type of +security that will be issued if the option is exercised IMI : ORDINARY FULLY PAID Number of securities that will be issued if the option is exercised One (1) fully paid ordinary share (ASX: IMI)

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement. The Prospectus is available at: www.infinitymining.com.au

Part 2C - Timetable

2C.1 +Record date

12/9/2023

2C.3 Ex date

11/9/2023 2C.4 Record date

12/9/2023

2C.5 +Issue date

20/9/2023

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2C.6 Date trading starts on a normal T+2 basis

21/9/2023

2C.7 First settlement of trades conducted on a +deferred settlement basis and on a normal T+2 basis 25/9/2023

Part 2D - Further Information

2D.1 Will holdings on different registers or subregisters be aggregated for the purposes of determining entitlements to the +bonus issue? No

2D.2 Countries in which the entity has +security holders who will not be eligible to participate in the proposed +bonus issue

All countries other than Australia, New Zealand, United Kingdom or European Union (Ireland).

2D.3 Will the entity be changing its dividend/distribution policy as a result of the proposed +bonus issue No

2D.4 Details of any material fees or costs to be incurred by the entity in connection with the proposed +bonus issue Registry fees, legal fees.

2D.5 Any other information the entity wishes to provide about the proposed +bonus issue

Nil.

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