INFINITY MINING LIMITED — Capital/Financing Update 2024

Nov 4, 2024

ASX ANNOUNCEMENT 5 November 2024

INFINITY SECURES BOGONG COPPER-GOLD TENEMENT IN NSW

Highlights

• The recently acquired Bogong Copper Project has been granted to Infinity, expanding its copper-gold exploration portfolio in NSW.

• Previous drilling at Bogong returned significant drill intercepts including 54.9m @ 1.06% Cu[1] , which will be followed up by Infinity over the coming months.

Infinity Mining Limited (ASX: IMI ) (“Infinity” or the “Company”) is pleased to announce the successful grant of the Bogong Project (EL9697), further expanding its copper-gold exploration portfolio in this highly prospective region of New South Wales (see Figure 1 ).

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Figure 1: NSW Project Location Overview.

1 ASX:DEV – 22/05/2018 - https://www.devexresources.com.au/wp-content/uploads/2024/06/6884758.pdf

Infinity Mining Ltd / ABN: 73 609 482 180 / T: +61 7 3221 1796 / W: infinitymining.com.au

Kings Row Office Park, Suite 1G, Building 1, 40-52 McDougall Street, MILTON QLD 4064, Australia

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NSW STRATEGY

EL9697 (Bogong) was granted on 5 September 2024 and is valid to 5 September 2029 (5 years), complementing the recently granted EL9700 (Archilles), plus previously granted EL9603 (Gundagai), EL9605 (Harden) (see Figure 1 ), plus 3 other ELs which make up the company’s flagship Cangai Project (EL8625, EL8635 and EL8601).

The new NSW portfolio now includes a total of 7 granted ELs, which allows Infinity to accelerate its exploration efforts in NSW, targeting copper-gold and other critical minerals. The Company is eager to advance its work programs on these highly prospective tenements, with initial on-site evaluations, geological mapping, geochemical sampling programs, followed by modern geophysics and drilling in 2025.

Many of Infinity’s newly granted ELs lie within the highly prospective Macquarie Arc of Lachlan Fold Belt and are strategically positioned within one of the world’s most mineral-rich regions. The Macquarie Arc, a volcanic arc formed during the Ordovician period, is renowned for hosting world-class porphyry copper-gold systems like Cadia and Northparkes (see Figure 1 ). The Lachlan Fold Belt is an extensive geological province containing not only world-class porphyry deposits but also orogenic gold and poly-metallic VHMS systems.

BOGONG COPPER PROJECT (EL 9697)

The Bogong Copper Project spans approximately 16 km of strike length along the Mooney-Mooney Fault System, within the highly prospective Lachlan Fold Belt. The project lies around 20 km from the town of Tumut.

Previous drilling by AOG Minerals in 1974 included a total of 37 percussion drill holes. Drill hole sample assays returned broad, shallow, significant copper intercepts, including:

• 54.9 m @ 1.06% Cu, from 6.1 m depth in hole PDH 16,

• 9.2 m @ 2.02% Cu from 39.6 m depth in hole PDH 17, and

• 18.3 m @ 0.91% Cu from 15.2 m depth in hole PDH 6[2] .

DevEx Resources completed a program of 7 diamond drill holes in 2019, which returned additional significant intercepts, including:

• 39 m @ 0.5% Cu from 13 m depth in hole 19BGDD001,

• including 12.6 m @ 1.24% Cu from 16.8 m depth,

• o including 3.9 m @ 2.0% Cu from 25.5 m depth

• 28 m @ 0.6% Cu from 71 m depth in hole 19BGDD002,

• including 6 m @ 1.2 % Cu from 79 m depth[3] .

Details of these two drilling programs are provided in two DevEx Resources ASX Announcements released in 2018 and 2020.

2 ASX:DEV – 22/05/2018 - https://www.devexresources.com.au/wp-content/uploads/2024/06/6884758.pdf

3 ASX:DEV – 30/01/2020 - https://www.devexresources.com.au/wp-content/uploads/2024/06/6963638.pdf

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The copper mineralisation reported in the previous drill holes is associated with porphyry intrusions and breccia zones and includes disseminated copper sulphides (bornite and chalcopyrite). Infinity believes further drilling is required to test the true extent of the copper mineralisation at Bogong.

The project benefits from proximity to other known mineralised deposits, including the Bogong copper occurrence and Goobarrandra copper mine (see Figure 2 ), and offers significant potential for both copper and gold discoveries. Modern systematic exploration techniques have not been applied to this area, presenting a prime opportunity for further discoveries and potential resource development.

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Figure 2: Bogong Project (EL 9797).

NEXT STEPS

Infinity's immediate focus for its Bogong Copper Project is the compilation of a comprehensive database containing all historical data, including drilling results, surface geochemical assays and geophysical data.

Once the database is verified and data is interrogated, Infinity will define the best targets for further exploration work, including modern geophysical surveys, geochemical surveys and other on-ground exploration programs. The highest-priority targets will be flagged for drill testing in 2025.

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Joe Phillips, Executive Chairman of Infinity Mining commented:

“ We are excited to secure the Bogong Copper Project, which adds to an excellent portfolio of Copper-Gold exploration opportunities in New South Wales. Reporting over 50 meters of drill intercept assaying at more than 1% copper is an impressive starting point to build from. Infinity’s eastern Australian asset expansion reflects the company’s commitment to identifying and developing high-value mineral resources for the future. We look forward to unlocking the potential of these properties and adding value for our shareholders.”

The Company will provide further updates as exploration activities progress, for further 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.

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Competent Persons Statement

The information contained in this report that relates to the Exploration Results is based on information compiled by Dr Matthew White, who is a Member of the Australian Institute of Geoscientists. Dr White 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 White consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

No New Information

To the extent that this announcement contains references to prior exploration results and Mineral Resource estimates, which have been cross referenced to previous market announcements (including supporting JORC reporting tables) made by the Company, unless explicitly stated, no new information is contained in accordance with Table 1 checklist in the JORC Code. The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements and, in the case of Mineral Resources that all assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed

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