INFINITY MINING LIMITED — Capital/Financing Update 2023

Apr 19, 2023

==> picture [91 x 91] intentionally omitted <==

News release

For Immediate Dissemination

ASX Announcement | 20 April 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

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

LITHIUM RICH SYSTEM IDENTIFIED FROM MAIDEN SCOUT DRILLING ON INFINITY MINING TAMBOURAH SOUTH TENEMENT

Highlights:

• In November 2022 Infinity Mining completed its maiden scout drilling program at Tambourah South; an advance of 1,812 metres across 21 holes.[1]

• This program tested three areas that had been mapped and surface sampled with pegmatites testing up to 2.636% Li2O.[2]

• The downhole assay results confirmed that the outcropping Lithium (Li) rich pegmatites are relatively steeply dipping plus identified concealed pegmatites and the merging of pegmatites at depth.

• The current batch of 486 samples were highly anomalous in Lithium with over 50, 1m samples returning between 0.20% Li2O and a maximum of 0.994% Li2O, and 132 samples of 1m to 5m composites returned between 0.10% Li2O and 0.21% Li2O.

• A 4m @ 0.573% Li2O section was identified, and the longest interval was 9m @ 0.332% Li2O.

• Assays results also exhibited elevated to anomalous Lithium in the order of 100’s ppm Li within the host mafic volcanics and mafic schists, indicative of a rich system.

• Drilling also confirmed the presence of elevated to anomalous Caesium (Cs) Tantalum (Ta) and Rubidium (Rb) at depth within the pegmatites and host rocks with up to 2123 ppm Rb, 155.8 ppm Ta and 235.9 ppm Cs.

• Down hole logging and assay also indicate that the outcropping Lithium bearing pegmatites are relativity steeply dipping and, in some areas, appear to merge at depth. Drilling also intersected blind or concealed pegmatites which do not outcrop.

1 ASX Announcement 24 November 2022 Maiden Drilling Program at South Tambourah intersects significant lithium mineralization 2 ASX Announcement 26 September 2022 Further rock sampling has identified additional lithium bearing pegmatites at Tambourah South

==> picture [91 x 91] intentionally omitted <==

News release

For Immediate Dissemination

Infinity Mining Limited (ASX: IMI) (the Company or Infinity ) is pleased to announce the sample results from its maiden 2022 Scout drilling at Tambourah South (E45/4848).

Tambourah is currently being explored for Pegmatite Hosted Li, Rb and Rare Earth Element (REE) deposits. Satellite imaginary (Google Earth) and public domain air borne magnetic data, along with gravity and radio metric data has assisted in identifying the presence of Li, REE fertile granite adjacent greenstone belt covered by Infinity’s exploration licence E45/4848.

Follow-up field mapping, rock chip sampling and recent drilling has now confirmed the presence of LCT and REE bearing pegmatites with grades up to 3.86% Li02, 0.66% Rb and 611 ppm, Cs[1] at surface[345] , see Figure 1 .

==> picture [367 x 294] intentionally omitted <==

Figure 1. Basic geology on magnetics with Infinity’s current exploration.

The maiden RC drilling program confirmed that Li-bearing pegmatites, with Spodumene and Lepidolite[5] , continue at depth under outcropping pegmatites. A total of 41 individual pegmatite units were logged in 18 of the 21 drill holes, with thickness ranging from 1m to 35m.[5]

3 ASX Announcement 15 March 2023 Infinity Mining Lithium Exploration Recommences at South Tambourah.

4 ASX Announcement 15 September 2022 Infinity Mining discover high grade Rubidium

5 ASX Announcement 24 November 2022 Maiden Drilling Program at South Tambourah intersects significant lithium mineralization

==> picture [91 x 91] intentionally omitted <==

News release

For Immediate Dissemination

A total of 489 samples were initially selected from the 21 RC holes (Table 1) and submitted for analyses at Jinning Testing and Inspection in Perth. Samples consisted of 1m individual samples through and adjacent to logged pegmatites, plus selective composite samples up to 5m of host geology. The best down hole interval using a 0.1% Li2O cut-off was 4m @ 0.573% Li2O in TM22RC018, and the longest was 9m @ 0.332% Li2O in TM22RC015. An interval of 26m @ 0.186% Li2O in TM22RC008 was recorded but this hole drilled down the outcropping pegmatite, see Table 2 .

HOLE_ID	Prospect	East (MGA50 GDA94)	North (MGA50 GDA94)	Elevation (mRL)	Depth (m)	Collar Azimuth	Collar Dip
TM22RC001	Grumpys	726373	7599343	355	46	185	-60
TM22RC002	Grumpys	726395	7599344	357	40	231	-50
TM22RC003	McNeills	726175	7600149	352	100	276	-60
TM22RC004	McNeills	726176	7600118	354	100	271	-56
TM22RC005	McNeills	726187	7600089	382	100	275	-55
TM22RC006	McNeills	726178	7600048	384	100	299	-55
TM22RC007	McNeills	726170	7600054	368	100	299	-55
TM22RC008	McNeills	726166	7600015	386	100	125	-55
TM22RC011	McNeills	726150	7600036	378	100	279	-56
TM22RC010	McNeills	726165	7600036	377	100	272	-56
TM22RC009	McNeills	726186	7600025	378	100	271	-56
TM22RC012	McNeills	725990	7600204	387	100	272	-56
TM22RC013	McNeills	726005	7600186	387	100	286	-57
TM22RC014	McNeills	726118	7599992	359	100	91	-56
TM22RC015	McNeills	726130	7599929	376	100	315	-56
TM22RC016	Grumpys	726438	7599386	389	52	326	-56
TM22RC017	Naughtons	726223	7598839	376	100	334	-55
TM22RC018	Naughtons	726246	7598845	373	100	336	-56
TM22RC019	Naughtons	726173	7598798	403	40	126	-54
TM22RC020	Naughtons	726152	7599019	376	58	329	-55
TM22RC021	Naughtons	726194	7599026	369	76	336	-55
		Table 1. Drill hole collar details

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

3

==> picture [91 x 91] intentionally omitted <==

News release

For Immediate Dissemination

Table 2. Drill hole intercepts with a cut-off 0.1% Li2O.

Hole ID	From(m)	To(m)	Width(m)	Li2O_pct2
TM22RC001	0	5	5	0.125
TM22RC001	25	28	3	0.148
TM22RC002	3	4	1	0.224
TM22RC002	7	9	2	0.401
TM22RC002	10	13	3	0.142
TM22RC002	28	33	5	0.123
TM22RC003	0	1	1	0.148
TM22RC003	7	9	2	0.128
TM22RC003	40	47	7	0.120
TM22RC003	60	65	5	0.124
TM22RC004	35	41	6	0.104
TM22RC004	91	93	2	0.130
TM22RC005	4	5	1	0.186
TM22RC005	9	12	3	0.117
TM22RC005	17	18	1	0.108
TM22RC005	32	33	1	0.114
TM22RC006	14	15	1	0.141
TM22RC006	16	17	1	0.106
TM22RC006	19	20	1	0.101
TM22RC006	24	25	1	0.123
TM22RC006	26	29	3	0.168
TM22RC006	30	31	1	0.110
TM22RC006	37	39	2	0.107
TM22RC006	40	41	1	0.101
TM22RC006	42	47	5	0.198
TM22RC006	47	50	3	0.151
TM22RC007	15	17	2	0.149
TM22RC007	28	29	1	0.112
TM22RC007	30	33	3	0.110
TM22RC007	41	43	2	0.178
TM22RC007	44	46	2	0.121
TM22RC008	8	10	2	0.207
TM22RC008	21	24	3	0.209
TM22RC008	27	29	2	0.359
TM22RC008	31	32	1	0.114
TM22RC008	35	61	26	0.186
TM22RC008	63	64	1	0.118
TM22RC009	33	40	7	0.150
TM22RC009	47	50	3	0.107

www.infinitymining.com.au

communications@infinitymining.com.au

4

==> picture [91 x 91] intentionally omitted <==

News release

For Immediate Dissemination

Hole ID	From(m)	To(m)	Width(m)	Li2O_pct2
TM22RC009	77	78	1	0.115
TM22RC009	82	83	1	0.342
TM22RC010	11	12	1	0.103
TM22RC010	19	21	2	0.217
TM22RC010	24	32	8	0.117
TM22RC011	4	9	5	0.262
TM22RC011	10	13	3	0.126
TM22RC011	15	19	4	0.124
TM22RC011	21	25	4	0.134
TM22RC012	8	10	2	0.123
TM22RC012	33	36	3	0.126
TM22RC013	0	1	1	0.110
TM22RC013	6	7	1	0.159
TM22RC013	28	29	1	0.105
TM22RC015	0	9	9	0.332
TM22RC015	11	12	1	0.104
TM22RC015	46	47	1	0.104
TM22RC016	0	2	2	0.144
TM22RC016	3	4	1	0.122
TM22RC016	5	8	3	0.119
TM22RC017	5	7	2	0.254
TM22RC017	24	29	5	0.149
TM22RC017	41	42	1	0.112
TM22RC018	8	13	5	0.264
TM22RC018	32	36	4	0.573
TM22RC018	49	50	1	0.106
TM22RC018	52	57	5	0.187
TM22RC020	5	6	1	0.141
TM22RC020	7	11	4	0.202
TM22RC021	19	27	8	0.353
TM22RC021	28	32	4	0.107

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

5

==> picture [91 x 91] intentionally omitted <==

News release

For Immediate Dissemination

The current batch of 486 samples were also highly anomalous in Lithium with over 50, 1 m samples returning between 0.20% Li2O and a maximum of 0.994% Li2O, and 132 samples of 1m to 5 m composites returned between 0.10% Li2O and 0.21% Li2O. The assay results also exhibited elevated to anomalous Lithium geochemistry in the order of 100’s ppm Li within the host ultramafic, mafic and felsic volcanics and mafic schists away from the logged pegmatites.

Elevated to anomalous Cs, Ta and Rb were also recorded in the pegmatites and the host rocks with 120 samples returning between 202.1 ppm and 2123 ppm Rb, 69 samples between 50 ppm and 155.8 ppm Ta, and 30 samples between 69 ppm and 235.9 ppm Cs. These results indicated that an extensive Lithium rich pegmatite system has developed at Tambourah South. Further analysis of the down hole geochemistry is still underway and awaits pending downhole assays for intervals not assayed during the first analytical batch.

The down hole logging and assay also indicates that the outcropping Lithium bearing pegmatites are relativity steeply dipping and, in some areas, appear to merge at depth. Drilling also intersected blind or concealed pegmatites which do not outcrop. Figure 2 shows the currently mapped pegmatites on the western side of the licence, drill holes traces and position of cross-sections shown in Figures 3 and 4 . Infinity believes that these results indicate that the project has high prospectivity for blind or concealed pegmatites and that currently exposed pegmatites may be the upper parts of larger more fertile system at depth. More recent structural displacement may have also down-thrown and/or off-set eastern parts of the system.

A passive seismic survey using ambient noise tomography (ANT) commenced on 24 March 2023 and will finish on 23 April 2023[6] . The ANT survey will generate 3D seismic images down to +200metres and is designed to image the pegmatite zones and host geology below the surface. The data will be used to interpret a 3D geology model of the pegmatite systems at Tambourah South and to assist with drill targeting.

6 ASX Announcement 27 March 2023 Deployment of ANT geodes at Tambourah South

www.infinitymining.com.au

communications@infinitymining.com.au

6

==> picture [91 x 91] intentionally omitted <==

News release

For Immediate Dissemination

==> picture [367 x 518] intentionally omitted <==

Figure 2. Western side of Tambourah showing three drill hole areas and cross-section locations.

www.infinitymining.com.au

communications@infinitymining.com.au

7

==> picture [91 x 91] intentionally omitted <==

News release

For Immediate Dissemination

==> picture [519 x 331] intentionally omitted <==

Figure 3. Cross-section 1, McNeill’s area.

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

8

==> picture [91 x 91] intentionally omitted <==

News release

For Immediate Dissemination

==> picture [513 x 267] intentionally omitted <==

Figure 4. Cross-section 2, Naughton’s area.

Joe Groot, CEO of Infinity Mining commented:

“Infinity believes that the current assays results are highly encouraging and that Tambourah South is still a very fertile Lithium system that is under-explored. The ongoing 3D geology interpretation incorporating the results from the current passive seismic survey will enable the Company to identify prospective concealed pegmatite targets.”

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

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

9

==> picture [91 x 91] intentionally omitted <==

News release

For Immediate Dissemination

Competent Persons Statement

The information contained in this report that relates to the Exploration Results is based on information compiled by Dr Darryn Hedger, who is a Member of the Australasian Institute of Mining and Metallurgy. Dr Hedger 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. 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 681.53km[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 communications@infinitymining.com.au

10

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
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 21 x RC drill holes were completed by Infinity Mining Ltd in December 2022 at the Tambourah South Lithium Prospect, on tenement 45/4848, 86 km southwest of Marble Bar, WA. •Holes TM22RC001 to TM22RC021 were drilled to depths ranging from 40 to 100 m for a total of 1812 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 20 element suite by Jinning Testing and Inspection Laboratory in Perth, WA.
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. •Drilling methods and equipment were to best industry standard
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.

Criteria	JORC Code explanation	Commentary
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. •Logging of spodumene and Lepidolite mineralization and veining was 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 Jinning laboratory in Perth for analysis. •Samples size and collection are appropriated for the pegmatite and host rock material being sampled.
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) andprecision 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 20 elements including Li2O and Li indicator elements. Li2O% was calculated from Li ppm using a conversion factor of 2.153 at the lab. •Jinning used 16 internal standards, 8 blanks and 16 repeats. •Infinity used 26 standards, 11 blanks and 5 repeats. •Acceptable levels of accuracy for these rock chips were established.
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. •No QAQC issues were identified in the results. •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 trayswere photographyinboth white and UV light.

www.infinitymining.com.au

communications@infinitymining.com.au

12

Criteria	JORC Code explanation	Commentary
		•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.
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 51 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). •All the holes were drilled at a -60 dip to 212 azimuths (grid bearing). •A downhole gyro survey tool was used to take a dip and azimuth reading every 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 TM22RC008 was drilled down dip of a pegmatite to test the lateral extend of the pegmatite body. •No sampling bias due to drilling orientation is known at this time.
Sample security	• The measures taken to ensure sample security.	•Infinity Mining staff delivered all the samples directly to Jinning 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

communications@infinitymining.com.au

13

Section 2 Reporting of Exploration Results

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

Criteria	JORC Code explanation		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 E45/4848.
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.

www.infinitymining.com.au

communications@infinitymining.com.au

14

Criteria	JORC Code explanation	Commentary
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”.
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 steep dipping pegmatite bodies at surface. •Drill holes were oriented to return the best intersections of the mineralization and drilled in a perpendicular manner. •The mineralized drill intersections are reported as down hole intervals and were not converted to true widths. •The mineralised intercepts quoted in the report are close to being perpendicularbut arenot truewidths.
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

www.infinitymining.com.au

communications@infinitymining.com.au

15

Criteria	JORC Code explanation	Commentary
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

communications@infinitymining.com.au

16