INFINITY MINING LIMITED — Investor Presentation 2022

Sep 28, 2022

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ADVANCING MULTIPLE LITHIUM-NICKEL - GOLD-COPPER PROJECTS

IN WESTERN AUSTRALIA’S KEY MINING JURISDICTIONS ASX CODE: IMI

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Disclaimer

This presentation (in this projected form in hard copy and presented) (collectively “Presentation”) has been prepared in good faith and is provided in confidence only for the exclusive use of the person to whom the Disclosing Party delivers the presentation and on the basis that Infinity Mining Limited (ACN 609 482 180) (the “Disclosing Party”), nor any of its directors, officers, shareholders, related bodies corporate, partners, affiliates, employees, representatives and advisors make any representation or warranty (express or implied) as to the origin, validity, accuracy, reliability, relevance, currency or completeness of the material contained in the Presentation and no responsibility is taken for any errors or omissions. Nothing contained in the Presentation is, or may be relied upon as, a promise, representation or warranty, whether as to the past or the future in respect of any of the contents contained herein. The Disclosing Party excludes all warranties (including implied warranties) and all liability that can be excluded by law for any loss, claim, damage, cost or expense of any nature (including that arising from negligence) arising out of the Presentation (or any accompanying or other information) whatsoever, nor by reason of any reliance upon it. The Disclosing Party accepts no responsibility to update any person regarding any inaccuracy, omission or change in information in this Presentation or any other information made available to a person or any obligation to furnish the person with any further information.

This Presentation includes certain statements that may be considered “forward-looking information” within the meaning of applicable Australian securities regulations and “forwarding-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, “forward-looking statements”). All statements in this Presentation (other than statements of historical facts) are forward-looking statements. The forward-looking statements contained in this document are made as of the date of this document. Except as may otherwise be required pursuant to applicable laws, the Disclosing Party does not assume any obligation to update or revise these forward-looking statements, whether as a result of new information, future events or circumstances after the date of the Presentation, or to reflect the occurrence of unanticipated events. The forward-looking statements in this document reflect the current expectations, assumptions or beliefs of the Disclosing Party based upon information currently available to the Disclosing Party. Where such statements expressly or impliedly relate to future events, expectations and/or belief as to future events or results, involve known and unknown risks and uncertainties such expectation or belief is expressed in good faith and is believed to have a reasonable basis.

Although the Disclosing Party 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 vary or 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 prevailing and projected market prices, exploitation and exploration estimates and results, continued availability of capital and financing, general economic, market or business conditions, fluctuations in exchange rates and certain commodity prices, uncertainties related to mineral title in the projects, the ability to obtain governmental or other regulatory approvals, unforeseen technology changes that results in a reduction in minerals demand or substitution by other minerals or materials, the discovery of new large low-cost deposits of minerals and the general level of global economic activity. Readers are cautioned not to place undue reliance on forward-looking statements due to the inherent uncertainty thereof.

Projects are at the early stages of evaluation and although reasonable care has been taken to ensure that the facts stated in this Presentation are accurate and or that the opinions expressed are fair and reasonable, no reliance can be placed for any purpose whatsoever on the information contained in this document or on its completeness. Information provided relating to projected costs, capital expenditure, production profiles and timelines are expressions of judgment only and no assurances can be given that actual costs, production profiles or timelines will not differ materially from the estimates contained in this Presentation.

Unless expressly stated otherwise and subject to compliance with all relevant legislation and regulation, statements relating to resource estimates are expressions of judgment, based on knowledge and experience, including historical information obtained from various sources, and may require revision based on actual production experience. Such estimates are necessarily imprecise and depend to some extent on statistical inferences and other assumptions, such as gold prices, cut-off grades and operating costs, which may prove to be inaccurate.

This Presentation references other corporations and provides certain information in relation to these corporations. All such information was obtained from the public record. The Disclosing Party provides no assurances as to the accuracy or completeness of such information and readers are cautioned not to place any undue reliance on such information.

This document has been prepared solely for information purposes. All persons should seek appropriate professional advice in reviewing or considering the Presentation and all other information with respect to the Disclosing Party and evaluating the business, financial performance and operations of the Disclosing Party. Neither the provision of the Presentation nor any information contained in the Presentation or subsequently communicated to any person in connection with the Presentation is, or should be taken as, constituting the giving of investment or financial product advice to any person in respect of dealing in the Disclosing Party’s securities, and no such information should be taken to constitute a recommendation or statement of opinion that is intended to influence a person in making a decision to deal in any Disclosing Party’s securities. This Presentation does not purport to contain all of the information that may be required to evaluate all of the factors that would be relevant in determining whether to deal in any Disclosing Party’s securities, including but not limited to any person's objectives, financial situation or needs. Each person must not rely on the information provided but should make, and will be taken to have made, its own investigation, assessment and analysis of the information in this Presentation and other matters that may be relevant to it in considering whether to deal in any Disclosing Party’s securities.

The information contained in the Presentation is not intended to be an offer for subscription, invitation or recommendation with respect to the shares in any jurisdiction and neither this document nor its contents shall form the basis of any contract or commitment.

Some photos and pictures in this Presentation are for illustration purposes only and do not depict current operations of the Disclosing Party.

The Disclosing Party owns the copyright in this Presentation. No part of this Presentation may be shown or distributed to third Parties or reproduced, stored or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise without prior written permission of the Disclosing Party. The distribution of the Presentation in jurisdictions outside Australia may be restricted by law and you should observe any such restrictions.

Dr Hedger is the consultant to Infinity and a Member of the AusIMM. He is a Competent Person as defined in the Australasian Joint Ore Reserves Committee Code. Dr Hedger has reviewed and approved the technical information in relation to the Pilbara and Central Goldfields projects contained in this Presentation.

Investment Overview

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EXTENSIVE ASSET

10 exploration licences,

2 mining leases and 7 prospecting licences covering an area of 711km[2] of highly prospective land in the Pilbara and Central Goldfields.

STRONG PILBARA LITHUM & NICKEL OPPORTUNITY

Lithium prospect on two Tambourah tenements as well as Hillside West. Nickel, copper and gold prospect located at Panorama, which have JV potential.

MULTIPLE GOLD GEOLOGICAL TERRANES Projects located in highly prospective lithium, REE, nickel and gold-copper regions, spanning Apex basalt, Mt Roe Basalts and Fortescue Formation sequences.

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CORPORATE OVERVIEW
Capital Structure
ASX: IMI Shares [1] on issue Top 10
109.26m
Shareholders
Total (Options [2] )
30m
Macarthur Minerals Limited 21.57%
Alec Charles Pointon 9.15%
Zanil Pty Ltd 9.15%
Merrill Lynch (Australia) 4.16%
Orbit Drilling Pty Ltd 1.69%
Share Price Sunset Superfund A/C 1.41%
Cash Cityscape Family A/C 1.36%
J&C Groot Superfund A/C 1.35%
$0.24 TI Growth A/C 1.30%
(19 September 2022 close) Proyou Accountants Pty Ltd 1.30%
$A6.8m
52-week range: $0.115-A$0.24
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1. 10,000,000 shares in escrow until 10 December 2022 being 12 months from issue. 5,618,750 shares in escrow until 5 October 2022 being 12 months from the date of issue and 35,693,672 shares in escrow until 22 December 2023 being 24 months from date of commencement of Official Quotation of 22 December 2021. Escrowed shares represent 46.96% total issued capital.

2. 25m options with an exercise price of A$0.30 expire 10 June 2023. 5 m options with an exercise price of A$0.25 expire 10 June 2024 classified by ASX as restricted securities and held in escrow until 22 December 2023, being 24 months from the date of commencement of Official Quotation of 22 December 2021.

CORPORATE OVERVIEW

ASX: IMI

PROGRESSS TO DATE:

• Drilling programs for Great Northern Mine and Barlow’s Gully completed.

• Mapping, rock chip and soil sampling underway across the Pilbara.

• Drill targeting and permitting completed for lithium at Tambourah South Project.

• Mapping, rock chip and soil sampling on the Central Goldfields prospects completed.

• Drone geophysics on the Central Goldfields prospects completed.

• Drilling program completed at Craig’s Rest.

PLANNED 2022 DRILLING:

• Hillside - Nickel

• Tambourah South - Lithium

• Rock chips/soil sampling completed at the Brisbane Nickel project in the East Pilbara.

Introduction to

The Pilbara

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Focus on growing Pilbara

/ Marble Bar lithium

• Located in Pilbara Mines Precinct

• Similar geological setting to nearby Pilgangoora, Wodgina and Archer lithium projects.

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Active Exploration Programs – ongoing

• RC drill program to commence at Tambourah South

• Geological mapping, rock, soil and stream sampling program completed.

• Heavy vehicle access across Riversgold tenement being sought

• All new exploration targets have visible pegmatite surface expression in 32 stacked units.

• High topography provides opportunity from surface to below ground mineralisation.

TENEMENT PORTFOLIO

Large Greenstone footprint in the Pilbara

• Hillside: 397km[2]

• Panorama: 253km[2]

• Tambourah: 16km[2]

Bound by Potassium-rich younger Granites

Cross cutting structures known to host LCT / REE elements

No previous exploration

Drill ready targets for lithium, base metals, and gold targets.

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Location map showing Infinity’s Pilbara Projects

MARBLE BAR LITHIUM

Geology of lithium deposits in the Pilbara

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TENEMENT PORTFOLIO

Pilbara:

Hillside West

Magnetics of Hillside West identifying the relationship of the potassium rich granites to the greenstone contact

• 40km strike in the Greisen Zone.

• LCT/REE mineralised pegmatites observed.

• Mapping and sampling underway.

• No previous exploration history.

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Magnetic Image Showing Prospective Lithium Pegmatite Zone (in Pink)

Introduction to

Tambourah South

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Focus on growing Pilbara / Marble Bar lithium

• Located in Pilbara Mines Precinct.

• Similar geological setting to nearby Pilgangoora, Wodgina and Archer lithium projects.

Active Exploration Programs – ongoing

• RC drill program to commence at Tambourah South.

• Geological mapping, rock, soil and stream sampling program completed.

• Heavy vehicle access across Riversgold tenement being sought.

• All new exploration targets have visible pegmatite surface expression in 32 stacked units.

• High topography provides opportunity from surface to below ground mineralisation.

Tambourah South Lithium results host LiO 2 grade up to 2.635% Li2O

TENEMENT PORTFOLIO Pilbara:

• Infinity Mining’s first field rock sampling program has confirmed multiple stacked Lithium-bearing pegmatite units within the Tambourah South tenement.

• Rock sample values collected at Tambourah South:

• Highest results 2.635 % Li2O, 0.662 % Rb, and 611.3 ppm Cs.

• 6 results returned over 2.0% Li2O

• 10 results between 1.5%-2.0% Li2O

• 14 results between 1.0%-1.5% Li2O

• 38 results between 0.5%-1.0% Li2O

• Samples taken along pegmatite units with widths up to 10m and strike lengths up to 558m.

• All new exploration targets have visible pegmatite surface expression.

• Recent Lag sampling showing possible concealed pegmatite trends.

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Mapped spodumene and lepidolite occurrences

TENEMENT PORTFOLIO

Pilbara:

Tambourah South

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• Adjacent company with LiO2 results on Infinity’s boundary.

• Recent mapping/soils/rock sampling have the LCT and REE mineralised pegmatites running east across both tenements.

Magnetic Image with Topography Contours

• Topographic relief varies up to 70m.

• Surface exposure of pegmatites controlled by topography and faulting.

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• Tenement bounded by MinRex to the west and Riversgold to the South.

• Programme of Works approved, and drilling planned for Q3 2022.

3D Topography

TENEMENT PORTFOLIO

Pilbara:

Tambourah South

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Lithium mineralisation (Spodumene)

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Lithium mineralisation fluorescing

TENEMENT PORTFOLIO

Pilbara:

Tambourah South

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Tambourah South lithium mineralisation from surface pegmatite, under blue light

TENEMENT PORTFOLIO

Pilbara: Tambourah South

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Tambourah South specimen under white light

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Tambourah South specimen under UV light

Introduction to

East Pilbara Targets

Hillside Central and East

PILBARA EXPLORATION Hillside – gold, copper, cobalt & nickel Drill-ready target

• A heliborne SkyTEM electromagnetic survey programme across two large prospects covering 127 km[2] was undertaken in 2018 to define high priority EM targets

• The survey identified 18 high priority bedrock conductors. All anomalies correlate with historic gold workings, surface copper and gold geochemical anomalies, magnetic anomalies or fault systems.

• Samples assayed in 2019 returned strongly anomalous grades for base metals and gold from several locations, including eight samples returning copper values over 1% with a peak of 18.8% and often accompanied with elevated gold, silver and zinc values (+/- cobalt).

TENEMENT PORTFOLIO

Pilbara:

Hillside

• Infinity’s SkyTEM Helicopter

• electromagnetic (EM) survey initially identified 18 high-priority EM conductive anomalies, which may represent massive-sulphide accumulations containing copper, nickel and gold.

• The SkyTEM data was recently reinterpreted by Infinity, with 9 of the highest-priority targets selected for drill testing.

• Rock chip and soil geochemical surveys carried out by Infinity at Hillside returned anomalous Cu-Ni-Au results, which have upgraded the priority status of some of the EM targets.

• One of the rock chip samples returned 7.08% Cu and two further rock chip samples returned 30.25 ppm Au and 21.89 ppm Au.

• Planning has begun to drill test the 9 high-priority SkyTEM targets during 2022.

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Hillside SkyTEM survey area (colour image) on regional magnetic image (black and white), showing EM targets and proposed drill holes in green.

PILBARA

EXPLORATION

Hillside – gold, copper, cobalt & nickel

Drill-ready target

• Detailed soils and rock sampling program was completed in 2021 across target gold and base metals areas and the results from this program correlated strongly with the geophysical anomalies.

• During 2022 the further interpretation of the geophysics has identified hidden deep (+ 200m) targets that are now ready for drilling.

• PoW applications have been approved for a late-2022 RC drilling program of the 13 key target areas

• A further airborne survey is underway to cover the entire Greenstone terrain.

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PILBARA EXPLORATION

Hillside

Gold, copper & prospective for nickel Testing for conductivity targets

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Proposed Drill Hole HS22PDH06, designed to test the high-priority Heli-EM conductivity target.

Proposed Drill Hole HS22PDH011, designed to test the high-priority conductivity target.

PILBARA EXPLORATION

Panorama & Bonnie Scot, and Noreena Downs

• A Sulphur Springs target in the west of the Panorama tenement; historically some exploration was reported in the south looking for nickel.

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Conglomerate

Gold, copper & prospective for nickel

Conglomerate gold 15km strike zone

• Historic exploration (1969-1971) identified as the Brisbane Nickel Prospect . The best result from the costean sampling produced a 6,319ppm Ni sample.

• In the east of the tenure, two sub parallel horizons host potential for “gold in conglomerate” stratigraphy similar to that identified elsewhere in the Pilbara region by Canadian company Novo Resources

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Outcropping pegmatite in foreground showing lepidolite mineralisation at surface

PILBARA

EXPLORATION

Panorama & Bonnie Scot, and Noreena Downs

Gold, copper & prospective for nickel

Conglomerate gold 15km strike zone

• A Sulphur Springs target in the west of the Panorama tenement; historically some exploration was reported in the south looking for nickel.

• Historic exploration (1969-1971) identified as the Brisbane Nickel Prospect . The best result from the costean sampling produced a 6,319ppm Ni sample.

• In the east of the tenure, two sub parallel horizons host potential for “gold in conglomerate” stratigraphy similar to that identified elsewhere in the Pilbara region by Canadian company Novo Resources.

• The main exploration targets at Panorama are Precambrian placer gold deposits. This tenement has the potential to contain lithiumbearing pegmatites.

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Panorama geology

PILBARA EXPLORATION

Panorama & Bonnie Scot, and Noreena Downs

Gold, copper & prospective for nickel

Conglomerate gold 15km strike zone

• A large pegmatite extending over 300m has been located at Noreena Downs. To date, there has been no extensive exploration for lithium at Noreena Downs.

• The areas occupy ideal geological settings for the pegmatite outcrops to be located and are within 10km of fertile monzogranites, and this area may be the target of further exploration activity for lithium.

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Panorama geology
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Introduction to

Central Goldfields

Historic mines

Total area of 13.81km[2] comprising two Mining Leases, seven Prospecting Licences (four under conversion, including Victor Bore), and one Exploration Licence.

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TENEMENT PORTFOLIO

Host to deposits of gold, base metals and nickel hosted within greenstone belts and granite intrusives. Project tenements are considered prospective for intrusive-hosted and greenstone-hosted deposit types. All project areas have historic gold workings on site. Key regional Gold Mining processing:

• Sons of Gwalia

• Jasper Hill

• King of the Hills

• Tarmoola

• Thunderbox

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Location map showing Infinity’s Central Goldfields Projects

CENTRAL GOLDFIELDS EXPLORATION

Great Northern Mine Historic gold production 20x Kalgoorlie Pit Re-confirm JORC resource

• The workings are on a strike of approximately 80 metres long and steeply dip to the north-east.

• Recorded production from this area spans three separate phases totalling 460 tonnes for ~356oz @21.9g/t.

• In 1987/88 Melita Mining drilled a series of RC holes. Results are contained in report A25349.

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Drilling Intersected Gold Structures New resource statement pending

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Great Northern Mine shaft and entrance

CENTRAL GOLDFIELDS EXPLORATION

Great Northern Mine Historic gold production 20x Kalgoorlie Pit

Re-confirm JORC resource

• Several holes intercepted gold grades up to 26.4g/t but none of these holes had collar coordinates.

• The drilling was not carried out on a recognizable grid. A cross sectional inferred resource was calculated to be 18,300 tonnes @ 4.5g/t. This equates to ~2,600 oz.

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CENTRAL GOLDFIELDS EXPLORATION

Craig’s Rest

Ready for development, surface mine and treat

• Katalina Mining Pty Ltd 1987 RC drilling 27 (GW001-027) for a total of 50 metres. The drilling was conducted over 10 metre line spacings; significant intersections.

• During 2000, Tarmoola Australia Pty Ltd completed a Percussion Rotary Air Blast and RC drilling program.

• Craig’s Rest tenement hosts an historic resource of 15,000 tonnes @2.96 grammes per tonne for ~1,432 ounces of gold.

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Aircore drill rig at Craig’s Rest.

CENTRAL GOLDFIELDS EXPLORATION

Coppermine

High grade copper potential

• A drone magnetic survey was recently flown by Infinity at the Coppermine Project in the Central Goldfields, WA, revealing a 350m long magnetic high target beneath historical copper workings.

• Recent rock chip sampling at Coppermine returned up to 2.06 % Cu, 3791 ppm Zn and 0.33 ppm Au, coincident with the magnetic high target, which upgrades this target.

• The magnetic high target at Coppermine could be associated with buried VMS-style copper mineralisation and is a high priority for further follow-up exploration, including RC drilling.

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Coppermine Project area (P37/9162) showing a RTP drone magnetic image draped over a Google Earth image and location of historical drilling and anomalous rock chip samples.

CENTRAL GOLDFIELDS EXPLORATION

Barlow’s Gully

Significant gold anomalies

• Rock chip sampling at the Barlow’s Gully Gold Project in the Central Goldfields has returned up to 15.5 ppm Au.

• Subsequent aircore drilling and soil sampling across the Barlow’s tenement has defined three significant gold targets - the largest being 480 x 100 m in area.

• The three soil/aircore anomalies contain anomalous levels of gold up to 0.681 ppm Au.

• RC drilling is planned in the next few months to test these high-priority geochemical targets.

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Aircore and Soil Sampling Results for gold – Barlow’s Gully showing 3 significant gold anomalies >0.1 ppm Au.

CENTRAL

GOLDFIELDS EXPLORATION

Victor Bore

• High-grade gold assays returned

• Rock chip sampling at Victor Bore, Central Goldfields has returned high-grade gold assays up to 28.4 ppm Au.

• A drone magnetic survey flown at Victor Bore has revealed multiple magnetic targets.

• Victor Bore lies less than 2km along strike from the Kailis Gold Deposit.

• The highest-priority magnetic targets at Victor Bore have been selected for further exploration work including auger soil sampling, aircore drilling and RC drilling.

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Victor Bore Project area (P37/8376, M37/1349) showing drone TDR magnetic image draped over a regional magnetics

Board & Management

Dr Michael Kale Non-Executive Director

Mima Wirakara Company Secretary

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Joe Phillips Executive Chairman

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Josephus (Joe) Groot CEO and Director

Cameron McCall Non-Executive Director

Harley Groot

Non-Executive Director

Technical Team

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Alec Pointon

General Manager, Operations

Highly experience field manager with extensive knowledge of DMIRS and DPLH requirements. Experienced heavy plant operator with advanced mechanical knowledge.

Dr Matthew White (Geology) Geologist

Career geologist with over 25 years experience in Australia and the Asia-Pacific. Experience in gold, silver, copper, lead, zinc, tin, tungsten, mineral sands, vanadium, lithium, coal and manganese.

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Dr Darren Hedger (Geology) Geologist

Highly experienced explorer, Geologist, Geochemist and Hydrogeologist. Over 30 years of extensive field experience in gold, base metals, uranium, aluminium, PGEs, nickel, lithium and REEs.

Ron McMahon

Marketing & Media

Highly experienced media, advertising, marketing and communications specialists with over 30 years experience across all forms of media.

Contact us

Joe Phillips jphillips@infinitymining.com.au +61 7 3221 1796