INFINITY MINING LIMITED — Regulatory Filings 2023

May 31, 2023

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

News release

For Immediate Dissemination

ASX Announcement | 1 June 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

RC DRILLING DELIVERS ENCOURAGING GOLD RESULTS FROM CENTRAL GOLDFIELDS, WA

Highlights

• Assay results received from 37-hole reverse circulation (RC) drilling program completed in March 2023 at 100%-owned projects in Central Goldfields WA.

• • Recent results follow on from significant gold assays from Victor Bore , as announced on 4 April 2023[1] , which included:

• 8 m @ 3.46 g/t Au, from 56 m depth in hole VB23RC0010.

  • including 1 m @ 21.86 g/t Au, from 57 m depth.

• Great Northern

RC gold assay results returned several significant gold intercepts including:

• 3 m @ 2.9 g/t Au, from 64 m depth in hole GN23RC112. ▪ including 1 m @ 7.49 g/t Au, from 65 m depth.

• o 2 m @ 1.86 g/t Au, from 79 m depth in hole GN23RC112. ▪ including 1 m @ 3.53 g/t Au, from 79 m depth.

• o 2 m @ 1.86 g/t Au, from 72 m depth in hole GN23RC113. ▪ including 1 m @ 3.58 g/t Au, from 73 m depth.

• Two RC holes drilled at Great Northern indicate that gold mineralisation continues at depth – additional exploration to be undertaken.

Barlow’s Gully

• RC gold assay results returned significant gold intercepts including: o 1 m @ 3.54 g/t Au, from 12 m depth in hole BG23RC003. o 1 m @ 1.66 g/t Au, from 50 m depth in hole BG23RC009

• Camel and Coppermine

• RC gold and base metal assay results from Camel and Coppermine returned some anomalous gold and base metal intervals, up to 0.41 g/t Au maximum.

Chief Executive Officer, Mr Joe Groot said: “The RC drilling completed in early 2023 has returned some excellent results. This is particularly evident at Victor Bore, where 13 of the 16 holes returned anomalous assays over 1 g/t Au, with maximum 1m assay of 21.86 g/t Au in hole VB23RC010 . We are very encouraged by the RC drilling results and we are confident that these will continue to inform our understanding of our projects in the Central Goldfields.”

“Additional data is currently being interpreted by our exploration team, which will in turn be used to plan further drilling at several high value targets across multiple projects later this year. We look forward to keeping investors updated as we advance our busy exploration pipeline”.

1 See ASX Announcement 4 April 2023, Gold assays returned from Victor Bore RC drill holes

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

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

News release

For Immediate Dissemination

Infinity Mining Limited (ASX: IMI) (the Company or Infinity ) is pleased to provide the following summary of results from its recently completed Reverse Circulation ( RC ) drilling program in the Central Goldfields, around the Leonora gold mining district of WA. The RC drilling program totalled 37 holes over 3,851m and was completed in early March 2023 at five of Infinity’s 100%-owned projects including Victor Bore, Great Northern, Barlow’s Gully, Camel and Coppermine[1] . The location of the Central Goldfields tenements is shown on Figure 1 .

==> picture [432 x 432] intentionally omitted <==

Figure 1: Location Map Showing Infinity’s Central Goldfields Tenements

2

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

News release

For Immediate Dissemination

Reverse Circulation (RC) Drilling – Program Overview

A total of 37 RC holes were completed across five of the Company’s 100%-owned projects in the Central Goldfields for a total of 3,851m. Drilling was completed between late January and early March 2023. Drill hole collar details are included below in Appendix 1 . All assay results have now been received. The JORC Table 1 outlining the RC drilling and sampling procedures is included as Appendix 2 .

The RC drill program was designed to test a variety of geochemical, geophysical and structural targets defined in 2022, for Archaean shear-hosted gold systems and Volcanogenic Massive Sulphide (VMS) base-metal deposits.

Victor Bore RC Drilling Results

A total of 16 RC drill holes were completed at the Victor Bore Project on tenements M37/1349 and P37/8376. The Victor Bore project lies adjacent to the Kailis Gold Mine held by Northern Star Resources Limited (see Figure 1 ).

The 2023 RC drilling at Victor Bore tested several NE-trending structural zones containing quartz veins at surface. Shallow historical workings are located along all of the structural zones drill tested. The main structural zone at the northern end of M37/1349 extends approximately 400m along strike. Assay results were previously reported in Infinity’s ASX Announcement dated 4 April 2023[1] . The 2023 RC drilling results returned several significant gold intercepts, including:

• 7 m @ 1.96 g/t Au, from 32 m depth in hole VB23RC004. ➢ including 1 m @ 8.67 g/t Au , from 34 m depth.

• 6 m @ 1.40 g/t Au, from 25 m depth in hole VB23RC005. ➢ including 1 m @ 7.33 g/t Au , from 29 m depth.

• 3 m @ 2.39 g/t Au, from 72 m depth in hole VB23RC006. ➢ including 1 m @ 6.82 g/t Au , from 72 m depth.

• 8 m @ 3.46 g/t Au, from 56 m depth in hole VB23RC0010. ➢ including 1 m @ 21.86 g/t Au , from 57 m depth.

• 4 m @ 2.65 g/t Au, from 43 m depth in hole VB23RC012. ➢ including 2 m @ 4.84 g/t Au , from 43 m depth.

A total of 13 of the 16 holes at Victor Bore returned anomalous assays over 1 g/t Au, with a maximum 1 m assay of 21.86 g/t Au in hole VB23RC010. Significant gold intercepts are shown below in Table 1 (0.1 g/t Au cut-off grade).

A drill hole map showing all 16 RC holes at Victor Bore is included below on Figure 2 . Two cross-sections (A-B and C-D) across the main NE-trending mineralised zone on M37/1349 are included as Figures 3 and 4 , highlighting the steeply SE-dipping interpreted zones of gold mineralisation at Victor Bore, which are open at depth.

3

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

News release

For Immediate Dissemination

Table 1: Victor Bore Significant Gold Intercepts >1 g/t Au (0.1 g/t Au cut-off grade).

	Hole	From	To	Interval	Au g/t
	VB23RC001	31	32	1	0.98
	VB23RC002	41	42	1	1.05
	VB23RC002	119	120	1	1.49
	VB23RC003	32	33	1	1.00
	VB23RC004	32	39	7	1.96
	including	34	36	2	5.08
	including	34	35	1	8.67
	VB23RC005	25	31	6	1.40
	including	29	30	1	7.33
	VB23RC005	40	41	1	2.62
	VB23RC006	72	75	3	2.39
	including	72	73	1	6.82
	VB23RC007	67	68	1	2.22
	VB23RC008	No	Significant	Assays
	VB23RC009	90	91	1	1.24
	VB23RC009	96	97	1	1.06
	VB23RC010	56	64	8	3.46
	including	57	58	1	21.86
	including	61	62	1	3.82
	VB23RC011	76	78	2	2.00
	including	76	77	1	3.04
	VB23RC012	43	47	4	2.65
	including	43	45	2	4.84
	VB23RC012	92	94	2	1.23
	including	92	93	1	1.88
	VB23RC013	50	53	3	1.28
	including	50	51	1	3.11
	VB23RC014	No	Significant	Assays
	VB23RC015	58	59	1	4.51
	VB23RC016	No	Significant	Assays

4

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

News release

For Immediate Dissemination

==> picture [472 x 503] intentionally omitted <==

Figure 2: Victor Bore RC Drill Hole Location Map

==> picture [486 x 83] intentionally omitted <==

5

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

News release

For Immediate Dissemination

==> picture [416 x 266] intentionally omitted <==

==> picture [486 x 312] intentionally omitted <==

----- Start of picture text -----

Figure 3: Victor Bore Cross-Section A-B
----- End of picture text -----

Figure 4: Victor Bore Cross-Section C-D

6

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

News release

For Immediate Dissemination

Great Northern RC Drilling Results

The Great Northern project lies approximately 30 km east of Leonora (see Figure 1 ). The most recently drilled RC holes were designed to follow-up a 12-hole RC drilling program completed in 2022, which returned several significant gold intercepts (see Infinity ASX Announcement dated 25 March 2022[2] ).

A total of five RC drill holes were completed in 2023 at the Great Northern Project on tenement P37/8310. The 2023 RC drilling results returned some significant gold intercepts, with a maximum 1m assay of 7.49 g/t Au in hole GN23RC112. Significant gold intercepts are shown below in Table 2 (0.1 g/t Au cut-off grade). A drill hole map showing the location of all drill holes at Great Northern is shown below on Figure 5 , including 11 drill holes completed by Melita in 1987, 12 RC holes completed by Infinity in 2022 and the five new RC holes completed by the Company in 2023.

Holes GN23RC112 and GN23RC113 were designed to test below the previous holes drilled by Melita in 1987 and those drilled by Infinity in 2022, to verify if gold mineralisation continues at depth. Both drill holes returned significant intercepts indicating that the gold mineralisation is still open at depth.

A SW-NE cross-section through the central part of the Great Northern gold mineralisation is included on Figure 6 , which shows that the NE-dipping gold-bearing zone of mineralisation is open at depth. A 3D interpretation of this gold system is underway, which will help design the next stage of drilling. The drilling to date has only tested mineralisation to shallow depths (maximum 80m), therefore further deeper drilling is well justified.

Table 2: Great Northern Significant Gold Intercepts >1 g/t Au (0.1 g/t Au cut-off grade).

	Hole	From	To	Interval	Au g/t
	GN23RC112	64	67	3	2.90
	including	65	66	1	7.49
	GN23RC112	79	81	2	1.86
	including	79	80	1	3.53
	GN23RC113	72	74	2	1.86
	including	73	74	1	3.58
	GN23RC113	79	80	1	1.14
	GN23RC114	No	Significant	Assays
	GN23RC115	No	Significant	Assays
	GN23RC116	No	Significant	Assays

2 See ASX Announcement 25 March 2022, First Drill Program Confirms Gold Mineralisation

7

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

News release

For Immediate Dissemination

==> picture [511 x 545] intentionally omitted <==

Figure 5: Great Northern RC Drill Hole Location Map

8

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

News release

For Immediate Dissemination

==> picture [479 x 305] intentionally omitted <==

Figure 6: Great Northern Cross-Section A-B

Barlow’s Gully RC Drilling Results

A total of nine RC drill holes were completed at the Barlow’s Gully Project on tenement P37/8278. The project lies within an Archaean greenstone belt along the Ursus Fault Zone, which is also host to several significant gold deposits along strike to the SSE, such as King of the Hills and Kailis (see Figure 1 ).

The 2023 RC drill holes were designed to test gold-bearing surface geochemical anomalies defined in 2022 (see Infinity ASX Announcement dated 30 June 2022[3] )

The 2023 RC drilling results returned some significant gold intercepts, with a maximum 1 m assay of 3.54 g/t Au in hole BG23RC003. Significant gold intercepts are shown below in Table 3 (0.1 g/t Au cut-off grade). A drill hole map showing the nine RC holes from 2023 is included below on Figure 7 .

==> picture [514 x 78] intentionally omitted <==

3 See ASX Announcement 30 June 2022, Significant Gold Targets at Barlow’s Gully Gold Project

9

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

News release

For Immediate Dissemination

Table 3: Great Northern Significant Gold Intercepts >1 g/t Au (0.1 g/t Au cut-off grade).

Hole	From	To	Interval	Au g/t
BG23RC001	No	Significant	Assays
BG23RC003	12	13	1	3.54
BG23RC004	No	Significant	Assays
BG23RC005	No	Significant	Assays
BG23RC006	No	Significant	Assays
BG23RC007	No	Significant	Assays
BG23RC008	No	Significant	Assays
BG23RC009	50	51	1	1.66

==> picture [426 x 355] intentionally omitted <==

Figure 7: Barlow’s Gully RC Drill Hole Location Map

10

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

News release

For Immediate Dissemination

Coppermine

The Coppermine Project (P37/9162) is located 5km southwest of Red 5 Limited’s 4.12Moz King of the Hills gold mine (see Figure 1 ). The Coppermine project is prospective for Volcanogenic Massive Sulphide (VMS) base-metal deposits and Archaean shear-hosted gold systems.

A small malachite copper-stained gossan and associated narrow quartz vein has been historically mined to a depth of several meters and returned anomalous surface rock chip sample assays up to 20642 ppm Cu (2.06% Cu), 3791 ppm Zn and 0.33 ppm Au. The gossan is also associated with a drone magnetic target (see Infinity ASX Announcement dated 4 August 2022[4] ).

A total of 3 RC drill holes were completed at the Coppermine Project, designed to test the drone magnetic target and area of the surface gossan. The 2023 RC drilling results returned a maximum 1m RC sample of 0.45% Cu from 1415m in hole CM23RC003, which was designed to test directly underneath the gossan. This interval also returned anomalous zinc (0.2% Zn) and gold (0.17 g/t Au). There were no other anomalous results in the other two drill holes.

The drone magnetic high anomaly was explained by the intersection of highly magnetic ultramafic rocks encountered in the drill holes. Infinity is assessing the potential to undertake a geophysical exploration survey later this year, which will be designed to test the wider tenement area for VMS-style copper-zinc sulphide mineralisation.

Camel

The Camel Project (P37/8325) lies ~8km north of Leonora and 6km northeast of the Kailis Gold Deposit (see Figure 1 ). Camel is prospective for Archaean shear-hosted gold systems and hosts a number of old gold workings. Historical RC drilling at Camel in 1986 returned some anomalous gold, with intercepts up to 5m @ 2.24 g/t Au. A linear drone magnetic target was also defined by Infinity in 2022 (see Infinity ASX Announcement dated 1 September 2022[5] ).

A total of four RC drill holes were completed at Camel, designed to test the linear drone magnetic target and below some of the old gold workings. Recent RC drilling results returned a maximum 1m RC sample of 0.41 g/t Au from 55m depth in hole CA23RC001. While there were no significant intercepts of greater than 1g/t Au in recent drill holes, some wide zones of low-grade gold >0.1 g/t Au were intersected, including 14m @ 0.19 g/t Au in hole CA23RC003. Further RC drilling will be considered at a later stage, as a secondary priority to other projects in the Central Goldfields.

Craig’s Rest and Chicago

RC drill holes were designed at Craig’s Rest but have not been drilled yet as the project awaits Cultural Heritage clearance, which is proposed for later this year. Craig’s Rest is a high-priority project which has returned highlyanomalous rock chip samples up to 37.64 g/t Au (see Infinity ASX Announcement dated 21 September 2022[6] ).

4 See ASX Announcement 4 August 2022, Drone magnetic survey identifies high target at Coppermine

5 See ASX Announcement 1 September 2022, Drone magnetic survey identifies brownfields target at Camel

6 See ASX Announcement 21 September 2022, Rock Chip Sampling at Craig’s Rest Confirms High-Grade Gold

11

For Immediate Dissemination

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

News release

Craig’s Rest is also host to several previous drilling programs that reported high-grade drill assays and significant gold intercepts including 5 m @ 57.9 g/t Au (see Infinity ASX Announcement of 12 October 2022[7] ). The planned drilling will test a range of targets, including following up the most significant intercepts returned from previous drilling.

RC drill holes were designed at Chicago in early 2023 and will be drilled pending Cultural Heritage clearance, anticipated for later this year. Rock chip samples from Chicago undertaken in 2022 returned anomalous assays up to 2.37 g/t Au, proximal with two drone magnetic targets defined by Infinity in 2022 (see Infinity ASX Announcement dated 19 September 2022[8] ). The planned drilling will test a range of targets and also test underneath the old workings.

Next Steps

All drill hole data acquired to date from the Central Goldfields is currently being interpreted by Infinity’s exploration team using 3D software and once this is completed, it will be utilised to design a new RC drilling program, as well as provide further information for management to consider geophysical surveys at Coppermine.

Additional RC drilling is scheduled to commence in late 2023 or early 2024 at the most prospective projects in the Central Goldfields, including Victor Bore, Great Northern, Barlow’s Gully, Craig’s Rest and Chicago.

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 Henry Jordan Six Degrees Investor Relations henry.jordan@sdir.com.au

7 See ASX Announcement 12 October 2022, Drilling programs commenced at Craig’s Rest

8 See ASX Announcement 19 September 2022, Drone magnetic high targets at Chicago

12

==> 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 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.

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 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 forwardlooking 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.

13

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

News release

For Immediate Dissemination

Appendix 1: RC Drill hole collar details for 2023 Infinity Central Goldfields RC Drilling Program

Hole	Tenement	Project	East GDA94	North GDA94	RL m	Azim	Dip	Depth m
CM23RC001	P3709162	Coppermine	316030.3	6824038.0	394.4	45	-60	96
CM23RC002	P3709162	Coppermine	316003.9	6824199.4	394.4	201	-59.9	120
CM23RC003	P3709162	Coppermine	315891.2	6824176.2	395.1	179	-59.51	90
BG23RC001	P3708278	Barlow’s Gully	310894.6	6837488.7	416.5	358	-58.54	102
BG23RC002	P3708278	Barlow’s Gully	311061.1	6837494.8	418.3	12	-59.28	90
BG23RC003	P3708278	Barlow’s Gully	311849.6	6837434.7	418.3	306	-60.48	84
BG23RC004	P3708278	Barlow’s Gully	311805.6	6837437.7	420.1	131	-59.85	102
BG23RC005	P3708278	Barlow’s Gully	311519.1	6837547.9	420.8	294	-59.05	84
BG23RC006	P3708278	Barlow’s Gully	311482.9	6837588.0	422.8	117	-59.4	120
BG23RC007	P3708278	Barlow’s Gully	310545.2	6837121.7	416.8	0	-59.74	78
BG23RC008	P3708278	Barlow’s Gully	310742.3	6837117.4	418.0	359	-59.62	90
BG23RC009	P3708278	Barlow’s Gully	310751.3	6837495.3	413.1	3	-58.31	84
VB23RC001	M3701349	Victor Bore	331713.5	6811783.0	381.6	321	-59.61	126
VB23RC002	M3701349	Victor Bore	331610.2	6811929.3	381.4	297	-59.23	126
VB23RC003	M3701349	Victor Bore	331526.7	6811778.2	381.5	292	-59.46	102
VB23RC004	M3701349	Victor Bore	331548.9	6811817.6	381.3	293	-59.8	96
VB23RC005	M3701349	Victor Bore	331653.3	6811987.0	381.4	298	-59.48	96
CM23RC001	P3708325	Camel	338866.8	6811625.0	404.5	233	-59.9	132
CM23RC002	P3708325	Camel	338877.2	6811841.9	400.6	232	-60.2	84
CM23RC003	P3708325	Camel	338852.9	6812054.6	400.8	273	-59.48	114
CM23RC004	P3708325	Camel	338652.8	6811923.7	399.3	228	-59.48	102
VB23RC006	P3708376	Victor Bore	331942.9	6811711.8	380.3	288	-60.66	90
VB23RC007	P3708376	Victor Bore	331939.5	6811684.2	380.5	292	-60.78	90
VB23RC008	P3708376	Victor Bore	331921.4	6811635.5	380.7	289	-59.57	108
GN23RC112	P3708310	Great Northern	351580.2	6801331.8	392.3	214	-59.49	120
GN23RC113	P3708310	Great Northern	351589.3	6801346.7	392.1	216	-58.98	132
GN23RC114	P3708310	Great Northern	351639.8	6801280.4	391.2	210	-59.61	90
GN23RC115	P3708310	Great Northern	351532.2	6801332.1	393.3	211	-59.77	120
GN23RC116	P3708310	Great Northern	351490.1	6801336.8	395.0	209	-59.59	90
VB23RC009	M3701349	Victor Bore	331677.1	6811975.2	381.5	296	-59.95	131
VB23RC010	M3701349	Victor Bore	331672.3	6812023.6	381.2	294	-59.56	108
VB23RC011	M3701349	Victor Bore	331572.7	6811804.0	381.4	295	-59.55	120
VB23RC012	M3701349	Victor Bore	331573.1	6811853.7	381.2	293	-60.12	102
VB23RC013	M3701349	Victor Bore	331594.4	6811893.5	381.3	294	-59.18	96
VB23RC014	M3701349	Victor Bore	331635.3	6811961.3	381.5	297	-60.23	102
VB23RC015	M3701349	Victor Bore	331692.2	6812058.9	381.3	296	-59.7	114
VB23RC016	M3701349	Victor Bore	331633.7	6811915.9	381.5	294	-59.4	120

14

APPENDIX 2, 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.		Infinity RC Drilling 2023 •A total of 37 x reverse circulation (RC) drill holes were completed by Infinity Mining Ltd in the Central Goldfields of WA, in late January to early March 2023. •RC Drilling was completed at five different projects (Victor Bore, Great Northern, Barlow’s Gully, Camel, Coppermine). •Holes were drilled to depths ranging from 78 to 132 m, for a total advance of 3851 m drilled. •Holes were drilled at various azimuths, with dips largely at -60 degrees. •Reverse circulation drilling was used to obtain 1 m samples from the rig-mounted cyclone, from which a 2-3 kg representative split sample was collected into calico sample bags via a cone splitter. •A total of 2286 RC drill chip samples were collected during the program, including one (1) metre RC samples within logged zones of interest, plus four (4) metre composite samples outside those logged zones of interest. •Samples were dispatched to Jinning Laboratory in Perth for analysis. •The calico bag samples were then dried, crushed and pulverised. •Gold was analysed by 50g charge for fire assay with AAS finish. •The samples were also assayed for multi-element analysis by ICP- OES, for a 33-element suite (results 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 iDrilling Australia, Drilling Contractors using an Hydco 350 RC rig using a 5.5-inch face sampling hammer bit. •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.		•Recovery can be monitored by observing the consistency of drill chip amounts collected for each 1 m sample.

15

Criteria	JORC Code explanation	Commentary
	• 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.	•No significant loss of recovery was observed in any 1 m intervals during the program. •Typical recoveries for this RC program are estimated to be in excess of 80%. •Samples were largely dry, with only a few samples being moist. •No significant groundwater was encountered that would impact recovery.
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 digital spreadsheets at the time of drilling. •Logs are largely qualitative in nature using company logging codes. •Logging of sulphide mineralisation and quartz veining was quantitative. •All intervals drilled were logged.
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 total of 2286 RC drill chip samples were collected during the program, including one (1) metre RC samples within logged zones of interest containing quartz veining and mineralisation/alteration, plus four (4) metre composite samples outside those logged zones of interest. •No drilled intervals were left unsampled. •Back-up samples for every 1 m drill interval were also collected and securely stored. •The 4 m composite samples were collected using a manual sample spear and sent to the laboratory for analysis. If any assays from the 4 m composite samples contain anomalous assay results, these will be re-assayed at 1 m intervals. •All samples were transported to Jinning Laboratory in Perth for analysis. •Samples were dried, crushed and pulverized to nominal 85% passing 75microns, priorto assaying.

16

Criteria	JORC Code explanation	Commentary
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.	•All laboratory assaying was completed by the Jinning Testing and Inspection Laboratory, in Perth, WA. •RC drill samples submitted to the Lab were dried, crushed and pulverised to produce a 50 g charge for fire assay for gold, with an AAS finish (code FA50A). This analytical method has a detection limit of 0.01 g/t Au. •Samples were also analysed by Mixed Acid Digest ICP-OES for a 33-element suite (results pending). •Infinity QAQC protocols were implemented. •QAQC samples were inserted into the sample sequence, with standards, blanks and duplicates in the ratio of approximately 1:25. •All QAQC samples will be evaluated when assays are received. •Internal laboratory repeats and QAQC samples were also reported by the Laboratory. •For the assays received to date, all QAQC samples fall within expected, standard tolerance limits.
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. _	•All drill hole data was collected electronically and checked by an experienced geologist. •Digital drill data has been safely stored on Infinity’s server. •No twinned holes were drilled. •No QAQC issues were identified in the results recovered to date.
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.	•All collar locations were initially recorded with a handheld Garmin 65 GPS with a +/- 3m to 5m accuracy. •All collars were then surveyed using an RTK Differential GPS with a 40 mm level of accuracy. •GDA94 datum and MGA zone 51 was used. •A table of drill hole collar details is included in the body of the report for all 37 drill holes completed. •Maps showing the drill hole locations for several key projects where significant intercepts were reported are included in the body of the report.

17

Criteria	JORC Code explanation	Commentary
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.	•Drill holes were designed to test a variety of geochemical, geophysical and structural targets defined in 2022, for Archaean shear-hosted gold systems and Volcanogenic Massive Sulphide (VMS) base-metal deposits. •Drill holes were generally designed to intersect the observed mineralisation present at surface associated with old mine workings, at various depths below surface, to test the depth and strike extents of the mineralisation. •All drill holes were designed to drill across strike at roughly 90 degrees to the strike of the main structure of interest. •The drill spacing is variable across the five projects. •Drill hole maps are included in the body of the report for Victor Bore, Great Northern and Barlow’s Gully.
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.	•Holes were generally angled to intersect the interpreted depth extension of the target structures, at the optimal orientation. •A table of drill hole collar details is included in the body of the report. •No sampling bias due to drilling orientation is known at this time.
Sample security	• The measures taken to ensure sample security.	•The drill samples were placed in bulka bags and transported by Infinity Mining staff to Kalgoorlie. A local transport company was used to deliver the samples to Jinning Laboratory in Perth. •All samples were checked on arrival by the Laboratory.
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.

18

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.	•The Central Goldfields projects are located in the Leonora District of WA. •The following tenements are the subject of this report. ➢Victor Bore (P37/8376, M37/1349). ➢Great Northern (P37/8310, M37/1360) ➢Barlow’s Gully (P37/8278, M37/1359) ➢Coppermine (P37/9162) ➢Camel (P37/8325) ➢Craig’s Rest (P37/8468, E37/1442) ➢Chicago (M37/983) •All tenements are held by Infinity Mining Limited and are in good standing.
Exploration done by other parties	• Acknowledgment and appraisal of exploration by other parties.	• Numerous old shallow workings and prospecting pits occur at most of the projects in the Central Goldfields. The age of historical mining is not well constrained. • The historical exploration work has been limited in the Central Goldfields tenements but includes geochemical sampling and drilling by a range of companies over the past 4 decades including the following. • Victor Bore – GME Resources. • Great Northern – Melita Mining (1987), North Limited (1990s). • Barlow’s Gully – No previous exploration records. • Coppermine – Kulim Limited (1984), Orion Resources (1995), Pacmin (1998), Jupiter Mines (2007), Bligh Resources (2010). • Camel – Sons of Gwalia (1986), Endevour Resources (1989), St Barbara Mines (1993), Goldfields Exploration (1993), Teck Cominco (2005), Medusa (2006). • Craig’s Rest – Katalina Mining (1987), Aztec Exploration (1990), Mount Edon (1992), Tarmoola Australia (1997). • Chicago - Jupiter Mines (2008), Bligh Resources (2014). • Details of the historical exploration are documented within the Infinity Prospectus dated October 2021 and previous ASX Announcementsreleased byInfinity.

19

Criteria	JORC Code explanation	Commentary
Geology	• Deposit type, geological setting and style of mineralisation.	• The Central Goldfields tenements are located in the Leonora District of the Central Goldfields. The projects lie within greenstone belts associated with several NW-trending faults such as the Ursus Fault Zone. The tenements in the same area as a number of significant gold deposits such as King of the Hills and Kailis. • The greenstones are also intruded by younger Archean granites. • The projects are prospective for orogenic Archaean shear-hosted gold systems and Volcanogenic Massive Sulphide (VMS) base- metal 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. _	•See Table - Appendix 1
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.	•All gold intercepts quoted within the Table in the body of the report are weighted averages Gold (g/t), using a cut-off of 0.1 g/t Au. •Where gold repeats were recorded, the first sample was used to calculate the weighted average grade. •No assays below the cut-off (internal “waste”) were included in the intercepts. •Additional multi-element assays are pending.

20

Criteria	JORC Code explanation	Commentary
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 gold-bearing intervals quoted in the report are close to being perpendicular but are not true widths.
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. _	•It is uncertain that further exploration work will lead to the reporting of a Mineral Resources, in accordance with the requirements of the JORC 2012 Code.
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. _	•There is no other exploration data that is considered to be material to the results reported herein.
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.	•All gold and multi-element assays have been received. •A more detailed 3D interpretation will be completed by the Infinity geological team over the coming months. •Further exploration work in the Central Goldfields is planned, including RC drilling. •Deeper RC drilling is recommended at several projects including Victor Bore and Great Northern. •Refer to the main body of the announcement.

21