INFINITY MINING LIMITED — Capital/Financing Update 2024

Feb 28, 2024

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ASX ANNOUNCEMENT 29 February 2024

FURTHER GOLD RESOURCE FROM THE GOLDFIELDS

Highlights

• Maiden 2,700 ounce inferred Mineral Resource Estimate at Great Northern.

• Company Goldfields Resource total increased to 63,000 Ounces.

Infinity Mining Limited (ASX: IMI ) (“Infinity” or the “Company”) is pleased to announce its Maiden Resource estimate at Great Northern, adding to the recently announced inferred and exploration target estimates at Craig's Rest and Victor Bore Prospects[1] . Infinity continues to pursue its strategic regional resource target of up to 500,000 ounces.

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Figure 1: Infinity Mining Goldfields Portfolio.

1 See ASX Announcement 19 January 2024 Maiden Gold Resource Estmate - Amendment

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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The Central Goldfields Project comprises 10 mining and prospecting licenses in the prolific gold district of Leonora in the Eastern Goldfields region of Western Australia.

The inferred (see Table 1) JORC 2012 Mineral Resource Estimate (MRE) has been compiled from RC drilling completed by Infinity in 2023 and historical drilling at Great Northern.

Table 1: Great Northern Gold Resource Estimate

Classifcaton	Cut-of (g/t)	Tonnes	Au (g/t)	Ounces
Inferred	0.5	57,000	1.47	2,700

This takes the total Infinity Goldfields Resource to 63,000 Ounces.

Table 2: Total Infinity Goldfields Resource.[ 2]

	Cutoff (g/t)	Tonnes	Au (g/t)	Ounces
Great Northern	0.5	57,000	1.47	2,700
Craigs Rest	0.5	1,096,000	1.38	48,600
Victor Bore	0.5	234,000	1.56	11,700
Total		1,387,000		63,000

Infinity considers the inferred resources to have future mining potential in that:

• the mineralisation is exposed on the surface,

• is of sufficient width and grade for open pit mining, and

• having a probable free dig component from near surface weathering.

2 See ASX Announcement 19 January 2024 Maiden Gold Resource Estmate - Amendment

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GEOLOGY

The Central Goldfields tenements all lie in areas of Archaean greenstone, associated with major NNWtrending fault zones see

Figure 2 .

Figure 2: Regional interpreted geology 1:500k scale from GSWA.

Great Northern P37/8310 & M37/1360 is located in the Leonora District of the Central Goldfields. The tenement is host to Archean greenstones including, felsic intrusives, metabasalts, amphibolite and schists, and lies along a major NW-trending regional structure, between the Ursus Fault and the Keith-Kilkenny Fault zone. Many of the nearby gold deposits such as Kailis and Sons of Gwalia are linked to these NW structures.

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The local geology consisted of felsic, intermediate schists intruded by mineralised quartz veins with notable shearing identified.

Cautionary Note on Resource Target: The potential quantity and grade of this exploration target is conceptual in nature, there is currently insufficient exploration completed to support a mineral resource of this size and it is uncertain whether continued exploration will result in the estimation of a JORC resource. The Exploration Target has been prepared in accordance with the JORC Code (2012).

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INFERRED RESOURCE CRITERIA

Database

The Infinity Goldfields database comprises 90 RC drill holes for 7,081m covering all prospects. The majority of this drilling was conducted by IMI using JORC compliant techniques, as described below. There are a further 19 RAB holes for 648m in the database but were not used in the interpretation or interpolation processes.

RC Drilling Details

The Central goldfields program was completed by Idrilling between the 25th January to 4th of March 2023. The drill was a Hydco 350 RC rig with a 140mm (5.5 inch) face sampling RC hammer bit. These holes were orientated at 60-degree inclination with varying azimuths generating 2kg - 3kg samples splits from dry 1m bulk samples. All holes had three-to-six-meter PVC collars. Collars are reported in Appendix 2.

Sampling and Sub-Sampling Techniques

Samples were collected through a cyclone and cone splitter. A basalt blank reference material was inserted for every 100 samples. RC field duplicates were collected at a ratio of 1:100 and collected at the same time as the original sample through the B chute of the cone splitter. Matrix matched CRMS reference material (CRM) was inserted at a ratio of 1:50. The grade ranges of the CRM’s were selected based on grade populations and economic grade ranges.

Drill chip samples were collected during the program, including one metre split samples and four metre composite samples. Samples were dispatched to Jinning Laboratories in Kalgoorlie and transported to Perth for Fire Assay (FA50A) and Multi Element (MADI33) analysis. All holes were sampled at 1 metre intervals. For intervals containing possible gold mineralisation, 1 m samples were collected and submitted to the laboratory for analysis. For samples outside the logged mineralised zones, 4 m composite samples were collected using a manual spear and sent to the laboratory for analysis. If any assays from the 4 m composite samples contained anomalous Gold > 0.2 g/t, then 1m splits were subsequently taken.

Geological Logging

RC chip samples were collected in sieves and washed for logging. Dilute HCL was used to identify calcrete near the surface and for carbonate veining. Logging data was entered into excel database. A portable XRF analyser set to soils mode and a magsus (KT-10) were used to assist the geologist. Chip trays were photographed and stored at the Leonora yard.

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pXRF and MagSus Analysis

A magsus (KT-10) was used during the drilling program to identify the magnetic susceptibility of the rocks. It was a useful device identifying the ultramafic magnetic anomaly at Coppermine. In addition, it provided useful information for lithological units, weathered zones, and magnetic depleted zones helping to identify faulting and shear zones.

Portable XRF measurements were carried out by Infinity mining on several prospects. The Olympus Vanta (XRF) was setup to use 3 beams at 30 second intervals. Systematic use of pXRF QA/QC protocol was adopted with standards and blanks analysed at the start of everyday. Ti/Zr ratios helped to determine lithological units.

QAQC

Comprehensive QAQC procedures were implemented for all the 112 samples sent in 14 batches to Jinning’s Laboratories. Four QAQC samples were included for every 100m of samples. This included two Oreas standards (G312-7 & G318-2), 1 duplicate and 1 blank. The gold and copper Oreas standards were 10-gram packets of Certified Reference Materials (CRM). Results for the QAQC standards fell inside the first standard deviation with some standard assay results falling inside the second standard deviation.

DGPS Survey

An RTK DGPS survey was carried out by Spectral Surveys Pty Ltd in mid-March 2023. The accuracy of the RTK system was estimated to be with +/- 40 millimetres.

Interpretation

Interpretations were conducted in cross-section based on the identification of pre-existing structural interpretations from past consultants. The drill intersections were aligned with surface outcrops and historical workings for orientations.

The minimum lode width intersection was 2m downhole and lode ends were extended approximately 5m.

Great Northern interpretation comprises of 2 lodes to a maximum 110m in strike length and oriented in towards 300°. The northwest appears to be truncated and undefined in current drilling past this point. To the southeast the lode is open although only one drill hole exists on the final section of anomalous grades. The orebody is open at depth.

Lode numbers are based on the string and wireframe numbering and entered into the block model in the same format.

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Figure 3: Great Northern interpreted lodes, corresponding wireframe and string numbers.

Criteria used in the interpretations were:

• Interpretations were based on gold values only.

• Geological continuity was maintained by absorbing low gold values based on a statistical background of 0.25g/t Au.

• Sections extended 5m beyond the last interpreted section.

• The interpretations were wireframed to create a solid.

Compositing

The process of data preparation and compositing involved the following:

• Flagging the raw sample intervals within the database from the interpreted wireframe solids and numbering according to the individual lode interpretation wireframe. The database table is called “ northern_flag ” with the individual lodes identified as flag 1 or 2 as per Figure 3.

• Only RC drill holes were used.

• Extraction & compositing the gold values to 1.0m.

• Final extracted flagged composite samples files are called northern_lode1.str and northern_lode 2.str.

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Statistics

Statistics were conducted on datasets representing the major lodes 1 to 3 and combined lodes for the purpose of identifying outlier assays for possible high-grade cutting (Table 3).

Table 3: Univariate statistics of composite drill samples.

Number of samples	117
Minimum value	0
Maximum value	10.46
Mean	1.47
Median	0.50
Variance	4.94
Standard Deviaton	2.22
Coefcient of variaton	1.51
Skewness	2.44
Kurtosis	8.80
10.0 Percentle	0.07
20.0 Percentle	0.22
30.0 Percentle	0.28
40.0 Percentle	0.42
50.0 Percentle (median)	0.50
60.0 Percentle	0.78
70.0 Percentle	1.06
80.0 Percentle	2.23
90.0 Percentle	3.91
92.5 Percentle	5.20
95.0 Percentle	6.52
97.5 Percentle	9.46
98.0 Percentle	10.20
98.5 Percentle	10.20
99.0 Percentle	10.33
99.5 Percentle	10.33
99.9 Percentle	10.46

Upper Cut-off Grades

Upper cut-off grades are determined using statistical analysis identifying where the point outlier grades are not consistent with normal mineralisation. The files used were the combined lode datasets for Great Northern.

The results indicate no upper cutting was required. The highest grade is 10.46g/t Au which is considered below the regional estimated upper cut-off grade of 30g/t Au.

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BLOCK MODELLING

Three block models were created in Surpac (version 6.6.2 x64) and named:

“great_northern_model_jan24.mdl”.

The interpolation process used inverse distance squared (ID2) as there is insufficient data for a resource classification above inferred. No anisotropy, variography or block optimisation studies were conducted due to low sample populations.

Search Parameters

Anisotropy determinations were based on average azimuth and dip orientations with a sufficient search distance to cover 2 drill sections. Details are as follows:

• First pass

• Azim: 300° length 50m

• Dip: -73°

• Maj - Semi: 2:1 ratio

• Major – minor: 5: 1 ratio

• Second search is isotropic with a 100m search.

Model Attributes

Table 4.

Density measurements were not taken for the model locations. The density measurements used are derived from the models created for Victor Bore. Weathering profiles were logged so wireframes of the respective profiles were created and called BOCO and TOFR. The density used are considered average or below average for the Eastern Goldfields region. The resultant criteria for weathering is as follows:

• Surface to base of complete oxidation (above BOCO): 1.8 t/m³.

• Complete oxidation to top of fresh rock (BOCO to TOFR): 2.2 t/m³.

• Below top of fresh rock profile (below TOFR): 2.6 t/m³.

Table 4: Block model parameters for Great Northern.

**Type **	Northing	Easting	Elevation
Minimum Coordinates	6801210	351620	275
Maximum Coordinates	6801350	351714	400
User Block Size	10	2	5
Min. Block Size	2.5	0.5	1.25
Rotation	-60	0	0
Total Blocks	80703
Storage Efficiency%	92.33

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Model attributes are listed in Table 5.

Table 5: Block model attributes for Great Northern.

Attribute Name		Decimal		Description
	Type		Background
		s
au_id2_uncut	Float	3	0	inverse distance squared interpolated using uncut data
classification	Integer	-	0	inferred=1,indicated=2 measured=3
lode	Integer	-	0	lode represents wireframe number = 1
pass_no	Integer	-	0	au_ok_cut interpolationpass number
sg	Float	2	0	Bulk density: ox= 1.8g/cm3, pox = 2.2g/cm3, fresh = 2.6g/cm3
weathering	Integer	-	0	0=air, 1=oxide, 2=transitional, 3=fresh

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Classification

The confidence level of this resource is appropriate for inferred only. Sufficient statistical assessment and continuity of interpretation on progressive cross-sections warrants the confidence and also supports the necessary future drilling requirements for an improvement in classification.

In satisfaction of JORC Section 21 in circumstances where the estimation of the Inferred Mineral Resource is presented on the basis of extrapolation beyond the nominal sampling spacing and taking into account the style of mineralisation, the report must contain sufficient information to inform the reader of:

• the maximum distance that the resource is extrapolated beyond the sample points: Data was extended 5m beyond the end drilling sections.

• the proportion of the resource that is based on extrapolated data: All of the extrapolated data is used in the resource evaluation.

• the basis on which the resource is extrapolated to these limits: Drilling sections were between 30 and 40m apart for each interpreted area. Beyond the end drilling sections the probability of the data continuing is high but variability in grade continuity in unknown therefore excessive extensions to the interpretations were not warranted.

Diagrammatic representation of the Inferred Mineral Resource showing clearly the extrapolated part of the estimated resource. Refer to Figure 4, Figure 5 and Figure 6 as the entire interpretation is inferred.

MINERAL RESOURCE

The gold mineral resource is reported at a 0.5ppm Au lower cut-off grade and all models are reported as an inferred classification. HGS considers the grade to be within expected surface mining cut-off grades.

Table 6: Reported re	Table 6: Reported re	sourcefor the Great Northern Project.	sourcefor the Great Northern Project.	sourcefor the Great Northern Project.
Classifcaton	Cut-of	Tonnes	Au (g/t)	Ounces
Inferred	0.5	57,000	1.47	2,700

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Table 7: Details of the resource at various grade cut-offs.

	Great Northern	Great Northern	Great Northern
Cutof	Tonnes	Au (g/t)	Ounces
0	63,672	1.36	2,792
0.2	63,510	1.37	2,791
0.3	63,005	1.38	2,786
0.4	61,506	1.40	2,770
0.5	56,974	1.47	2,701
0.6	50,863	1.59	2,593
0.7	47,876	1.64	2,530
0.8	44,471	1.71	2,447
0.9	40,586	1.79	2,341
1	38,166	1.85	2,268
1.5	24,730	2.18	1,731
2	12,730	2.60	1,065
2.5	5,843	3.03	570
3	1,811	3.74	218

Infinity considers the inferred resources to have future mining potential in that:

• the mineralisation is exposed on the surface therefore a low mining stripping ratio is probable,

• is of sufficient width and grade for open pit mining, and

• having a probable free dig component from near surface weathering.

• Mineralisation is less than 100m which is well within probability of a potential open pit mining operation.

No metallurgy has been conducted as the resource if too premature at this point in time. The project though is in a highly regarded gold province with multiple successful mines operating using carbonin-leach processing extraction. Infinity anticipates metallurgical extraction to be similar to nearby operations.

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Figure 4: Great Northern resource wireframes over satellite imagery showing the drilling campaigns.

Figure 5: Great Northern model showing block grades and drilling viewed from the north.

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Figure 6: Great Northern model showing block grades and drilling viewed from the south.

NEXT STEPS

IMI continues to refocus and plan high-value generative steps for lithium discoveries in the worldclass Pilbara Lithium Province. Simultaneously, the company is actively undertaking negotiations with third parties regarding the sale or partnerships of non-core assets, including the Central Goldfields Project. It is important to note that there is no certainty that these negotiations will result in transactions to sell the non-core assets. Any resultant transactions, if they occur, may provide the Company with further funds to expedite lithium-related activities.

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For further information please contact:

Joe Phillips

Executive Chairman +61 7 3221 1796 communications@infinitymining.com.au

Company Profile

Infinity Mining Limited holds 100% interest in over 700 km[2] of tenements in the East Pilbara as well as 22 km[2] in the Central Goldfields regions of Western Australia. These tenements are located in highly prospective Lithium, Nickel, Copper and Gold terranes. The Company’s business strategy is an increasing focus on lithium exploration on its highly prospective Pilbara tenements.

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.

Competent Persons Statement

The information contained in this report that relates to the Exploration Results, Mineral Resource Estimate and Exploration Target Estimate is based on information compiled by Mr Andrew Hawker, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Hawker 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. Mr Hawker consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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APPENDIX 1 - JORC Code, 2012 Edition - Table 1

Section 1 - Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code explanaton	Commentary
Sampling techniques	• Nature and quality of sampling (e.g. cut channels, random chips, or specifc specialised industry standard measurement tools appropriate to the minerals under investgaton, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limitng the broad meaning of sampling. • Include reference to measures taken to ensure sample representvity and the appropriate calibraton of any measurement tools or systems used. • Aspects of the determinaton of mineralisaton that are Material to the Public Report. • In cases where ‘industry standard’ work has been done this would be relatvely simple (e.g. ‘reverse circulaton drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fre assay’). In other cases more explanaton may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodites or mineralisaton types (e.g. submarine nodules) may warrant disclosure of detailed informaton.	• A total of 37 x reverse circulaton (RC) drill holes were completed by Infnity Mining Ltd in the Central Goldfelds of WA, in late January to early March 2023. • Holes were drilled to depths ranging from 78 to 132 m • Holes were drilled at various azimuths, with dips largely at -60 degrees. • Reverse circulaton drilling was used to obtain 1 m samples from the rig-mounted cyclone, from which a 2-3 kg representatve split sample was collected into calico sample bags via a cone spliter. • 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 fre assay with AAS fnish. • The samples were also assayed for mult- element analysis by ICP-OES, for a 33- element suite (results pending).
Drilling techniques	• Drill type (e.g. core, reverse circulaton, 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. • Measures taken to maximise sample recovery and ensure representatve nature of the samples.	• Recovery can be monitored by observing the consistency of drill chip amounts collected for each 1 m sample. • No signifcant loss of recovery was observed in any1 m intervals duringtheprogram.

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Criteria	JORC Code explanaton	Commentary
	• Whether a relatonship exists between sample recovery and grade and whether sample bias may have occurred due to preferental loss/gain of fne/coarse material.	• Typical recoveries for this RC program are estmated to be in excess of 80%. • Samples were largely dry, with only a few samples being moist. • No signifcant 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 estmaton, mining studies and metallurgical studies. • Whether logging is qualitatve or quanttatve in nature. Core (or costean, channel, etc) photography. • The total length and percentage of the relevant intersectons logged.	• Geological logs were completed for all drill holes by an experienced geologist. • The lithology, weathering, oxidaton, colour, grainsize, texture, alteraton, veining, structure and mineralisaton were recorded in digital spreadsheets at the tme of drilling. • Logs are largely qualitatve in nature using company logging codes. • Logging of sulphide mineralisaton and quartz veining was quanttatve. • All intervals drilled were logged.
Sub-sampling techniques and sample preparaton	• If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether rifed, tube sampled, rotary split, etc and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparaton technique. • Quality control procedures adopted for all sub-sampling stages to maximise representvity of samples. • Measures taken to ensure that the sampling is representatve of the in-situ material collected, including for instance results for feld 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 spliter. • 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 mineralisaton/alteraton, plus four (4) metre composite samples outside those logged zones of interest. • No drilled intervals were lef 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 4m 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 75 microns, prior to assaying.
Quality of assay data and	• The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered	• All laboratory assaying was completed by the Jinning Testng and Inspecton Laboratory, in Perth,WA.

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Criteria	JORC Code explanaton	Commentary
laboratory tests	partal or total. • For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading tmes, calibratons factors applied and their derivaton, 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.	• RC drill samples submited to the Lab were dried, crushed and pulverised to produce a 50 g charge for fre assay for gold, with an AAS fnish (code FA50A). This analytcal method has a detecton limit of 0.01 g/t Au. • Samples were also analysed by Mixed Acid Digest ICP-OES for a 33-element suite (results pending). • Infnity QAQC protocols were implemented. • QAQC samples were inserted into the sample sequence, with standards, blanks and duplicates in the rato 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.
Verifcaton of sampling and assaying	• The verifcaton of signifcant intersectons by either independent or alternatve company personnel. • The use of twinned holes. • Documentaton of primary data, data entry procedures, data verifcaton, 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 Infnity’s server. • No twinned holes were drilled. • No QAQC issues were identfed in the results recovered to date.
Locaton of data points	• Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locatons used in Mineral Resource estmaton. • Specifcaton of the grid system used. • Quality and adequacy of topographic control.	• All collar locatons were initally recorded with a handheld Garmin 65 GPS with a +/- 3m to 5m accuracy. • All collars were then surveyed using an RTK Diferental 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 locatons for several key projects where signifcant intercepts were reported are included in the body of the report.
Data spacing and distributon	• Data spacing for reportng of Exploraton Results. • Whether the data spacing and distributon is sufcient to establish the degree of geological and grade contnuity appropriate for the	• Drill holes were designed to test a variety of geochemical, geophysical and structural targets defned in 2022, for Archaean shear- hosted gold systems and Volcanogenic Massive Sulphide (VMS) base-metal deposits.

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Criteria	JORC Code explanaton	Commentary
	Mineral Resource and Ore Reserve estmaton procedure(s) and classifcatons applied. • Whether sample compositng has been applied.	• Drill holes were generally designed to intersect the observed mineralisaton present at surface associated with old mine workings, at various depths below surface, to test the depth and strike extents of the mineralisaton. • 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.
Orientaton of data in relaton to geological structure	• Whether the orientaton of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • If the relatonship between the drilling orientaton and the orientaton 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 optmal orientaton.. • No sampling bias due to drilling orientaton is known at this tme.
Sample security	• The measures taken to ensure sample security.	• The drill samples were placed in bulk bags and transported by Infnity Mining staf 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.

Section 2 - Reporting of Exploration Results

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

Criteria	JORC Code explanaton	Commentary
Mineral tenement and land tenure status	• Type, reference name/number, locaton and ownership including agreements or material issues with third partes such as joint ventures, partnerships, overriding royaltes, natve ttle interests, historical sites, wilderness or natonal park and environmental setngs. • The security of tenure held at the tme of reportng along with any known impediments to obtaining a licence to	• The Central Goldfelds Projects is 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)

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Criteria	JORC Code explanaton	Commentary
	operate in the area.	➢ Chicago (M37/983) • All tenements are held by Infnity Mining Limited and are ingood standing.
Exploraton done by other partes	• Acknowledgment and appraisal of exploraton by other partes.	• Numerous old shallow workings and prospectng pits occur at most of the projects in the Central Goldfelds. The age of historical mining is not well constrained. • The historical exploraton work has been limited in the Central Goldfelds 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 exploraton 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), Goldfelds Exploraton (1993), Teck Cominco (2005), Medusa (2006). • Craig’s Rest – Katalina Mining (1987), Aztec Exploraton (1990), Mount Edon (1992), Tarmoola Australia (1997). • Chicago - Jupiter Mines (2008), Bligh Resources (2014). • Details of the historical exploraton are documented within the Infnity Prospectus dated October 2021 and previous ASX Announcements released byInfnity.
Geology	• Deposit type, geological setng and style of mineralisaton.	• The Central Goldfelds tenements are located in the Leonora District of the Central Goldfelds. 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 signifcant gold deposits such as King of the Hills and Kailis. • The greenstones are also intruded by younger Archean granites. • The projects are prospectve for orogenic Archaean shear-hosted gold systems and Volcanogenic Massive Sulphide (VMS) base- metal deposits.

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Criteria	JORC Code explanaton	Commentary
Drill hole Informaton	• A summary of all informaton material to the understanding of the exploraton results including a tabulaton of the following informaton for all Material drill holes: o eastng and northing of the drill hole collar o elevaton or RL (Reduced Level – elevaton above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and intercepton depth o hole length. • If the exclusion of this informaton is justfed on the basis that the informaton 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 IMI ASX release 1stJune 2023
Data aggregaton methods	• In reportng Exploraton Results, weightng averaging techniques, maximum and/or minimum grade truncatons (e.g. cutng of high grades) and cut-of 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 aggregaton should be stated and some typical examples of such aggregatons should be shown in detail. • The assumptons used for any reportng 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-of of 0.1 g/t Au. • Where gold repeats were recorded, the frst sample was used to calculate the weighted average grade. • No assays below the cut-of (internal “waste”) were included in the intercepts. • Additonal mult-element assays are pending.
Relatonship between mineralisaton widths and intercept lengths	• These relatonships are partcularly important in the reportng of Exploraton Results. • If the geometry of the mineralisaton 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 efect (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 sectons (with scales) and tabulatons of intercepts should be included for any signifcant discovery being reported These should include, but not be limited to a plan view of drill hole collar locatons and appropriate sectonal views.	• See IMI ASX release 1stJune 2023 • Also enclosed in this announcement.

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Criteria	JORC Code explanaton	Commentary
Balanced reportng	• Where comprehensive reportng of all Exploraton Results is not practcable, representatve reportng of both low and high grades and/or widths should be practced to avoid misleading reportng of Exploraton Results.	• The results provide sufcient data density and structure to report an inferred resource within the Great Northern project.
Other substantve exploraton data	• Other exploraton data, if meaningful and material, should be reported including (but not limited to): geological observatons; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristcs; potental deleterious or contaminatng substances.	• There is no other exploraton 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 highlightng the areas of possible extensions, including the main geological interpretatons and future drilling areas, provided this informaton is not commercially sensitve.	• All gold and mult-element assays have been received. • A more detailed 3D interpretaton will be completed by the Infnity geological team over the coming months. • Further exploraton work in the Central Goldfelds is planned, including RC drilling. • Deeper RC drilling is recommended at several projects including Victor Bore and Great Northern. • See IMI ASX release 1stJune 2023

Section 3 - Estimation and Reporting of Mineral Resources

Criteria	JORC Code explanation	Commentary
Database integrity	• Measures taken to ensure that data has not been corrupted by, for example, transcription or keying errors, between its initial collection and its use for Mineral Resource estimation purposes. • Data validation procedures used.	• Data was created by the competent person using Surpac software into an Access database. Files used are original from field geologists, surveyors and laboratory csv files. • Data was checked for duplicates and accuracy between hole_ID’s for all files being collar, survey, assay and geology. Any errors were checked, fixed and re-imported.
Site visits	• Comment on any site visits undertaken by the Competent Person and the outcome of those visits. • If no site visits have been undertaken indicate why this is the case.	• The competent person has not visited these tenements directly but has over 30 years’ experience in the region with resource evaluations for nearby companies. • A site visit for this inferred resource was not required due to the level of experience by the field geological personnel conducting the work,the level of detailed reportingof all

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Criteria	JORC Code explanation		Commentary	Commentary	Commentary	Commentary
			work completed and experience level of the competent person in the region.
Geological interpretation	• Confidence in (or conversely, the uncertainty of ) the geological interpretation of the mineral deposit. • Nature of the data used and of any assumptions made. • The effect, if any, of alternative interpretations on Mineral Resource estimation. • The use of geology in guiding and controlling Mineral Resource estimation. • The factors affecting continuity both of _grade andgeology. _		• Geological interpretations were conducted by IMI senior geological consultants combining surface mapping of exposed historical workings and outcropping host lithologies. • The IMI interpretations were used as a basis for the resource evaluation and modified slightly to correlate with mineralisation background.
Dimensions	• The extent and variability of the Mineral Resource expressed as length (along strike or otherwise), plan width, and depth below surface to the upper and lower limits of the Mineral Resource.		• Model dimensions: 140m long x 94m wide x 125m deep on an orientation of 300 degrees. North East RL Minimum Coordinates 6801210 351620 275 Maximum Coordinates 6801350 351714 400
				North	East	RL
			Minimum Coordinates	6801210	351620	275
			Maximum Coordinates	6801350	351714	400
Estimation and modelling techniques	• The nature and appropriateness of the estimation technique(s) applied and key assumptions, including treatment of extreme grade values, domaining, interpolation parameters and maximum distance of extrapolation from data points. If a computer assisted estimation method was chosen include a description of computer software and parameters used. • The availability of check estimates, previous estimates and/or mine production records and whether the Mineral Resource estimate takes appropriate account of such data. • The assumptions made regarding recovery of by-products. • Estimation of deleterious elements or other non-grade variables of economic significance (eg sulphur for acid mine drainage characterisation). • In the case of block model interpolation, the block size in relation to the average sample spacing and the search employed. • Any assumptions behind modelling of selective mining units. • Any assumptions about correlation between variables.		• The resource was conducted as an inferred resource due to insufficient data to accurately define structures and grade trends. • Interpolation method used was inverse distance squared to apply a greater weighting to the local samples. • Statistics were conducted to ensure outlier samples did not influence the result. No high grade cutting was used as the highest grade was 10.46g/t Au. The competent person has conducted multiple resources in the Eastern Goldfields and considers the regional high grade cut to be around 30g/t Au. • Interpolation search ellipse used was based on the azimuth and dip of the main lodes at 50m searches with search ratios in the minor directions or 2:1 and 5:1. This was sufficient to fill 92% of the blocks. A second search of 100m isotropic was conducted to fill the remaining blocks. • Block sizes for the model is 10m (N) x 2m (E) x 5m (RL) and sub-celled to 2.5m x 0.5m x 1.25m • Validation work included checking the block grades against the drilling and trend analysis plot comparing the block grades against the drill sample grades graphically. This was considered sufficient for this type and

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Criteria	JORC Code explanation	Commentary
	• Description of how the geological interpretation was used to control the resource estimates. • Discussion of basis for using or not using grade cutting or capping. • The process of validation, the checking process used, the comparison of model data to drill hole data, and use of reconciliation data if available.	classification of model
Moisture	• Whether the tonnages are estimated on a dry basis or with natural moisture, and the method of determination of the moisture content.	• Tonnages are estimated on a dry basis. No test work was conducted on samples for moisture content or densities. The method used in the resource is based on nearby resources conducted by the competent person using below averages for the region. Densities used were oxide 1.8t/m³, transitional 2.2t/m³ and fresh 2.6t/m³
Cut-off parameters	• The basis of the adopted cut-off grade(s) or quality parameters applied.	• The cut-off used in the final resource was 0.5g/t Au based on the size and shape of the resource and approximate cost of mining a deposit of this type. 0.5g/t Au has an approximate value of AUD$50. This will cover mining and processing costs of surface exposed resources to 100m.
Mining factors or assumptions	• Assumptions made regarding possible mining methods, minimum mining dimensions and internal (or, if applicable, external) mining dilution. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider potential mining methods, but the assumptions made regarding mining methods and parameters when estimating Mineral Resources may not always be rigorous. Where this is the case, this should be reported with an explanation of the basis of the mining assumptions made.	• The resource is shallow and considered sufficient for open-pit mining capability. • Infinity considers the inferred resources to have future mining potential in that: • the mineralisation is exposed on the surface, • is of sufficient width and grade for open pit mining, and • having a probable free dig component from near surface weathering. • The mineralisation is currently less than 100m being within open pit mining capability.
Metallurgical factors or assumptions	• The basis for assumptions or predictions regarding metallurgical amenability. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider potential metallurgical methods, but the assumptions regarding metallurgical treatment processes and parameters made when reporting Mineral Resources may not always be rigorous. Where this is	• No metallurgy has been conducted but nearby operations can be assumed for recoverability of around 92% to 95% of the gold.

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Criteria	JORC Code explanation	Commentary
	the case, this should be reported with an explanation of the basis of the metallurgical assumptions made.
Environmen- tal factors or assumptions	• Assumptions made regarding possible waste and process residue disposal options. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider the potential environmental impacts of the mining and processing operation. While at this stage the determination of potential environmental impacts, particularly for a greenfields project, may not always be well advanced, the status of early consideration of these potential environmental impacts should be reported. Where these aspects have not been considered this should be reported with an explanation of the environmental assumptions made.	• No assumptions are made here as the resource is too preliminary
Bulk density	• Whether assumed or determined. If assumed, the basis for the assumptions. If determined, the method used, whether wet or dry, the frequency of the measurements, the nature, size and representativeness of the samples. • The bulk density for bulk material must have been measured by methods that adequately account for void spaces (vugs, porosity, etc), moisture and differences between rock and alteration zones within the deposit. • Discuss assumptions for bulk density estimates used in the evaluation process of the different materials.	• No bulk density determinations have been made. The method used in the resource is based on nearby resources conducted by the competent person using below averages for the region. Densities used were oxide 1.8t/m³, transitional 2.2t/m³ and fresh 2.6t/m³
Classification	• The basis for the classification of the Mineral Resources into varying confidence categories. • Whether appropriate account has been taken of all relevant factors (ie relative confidence in tonnage/grade estimations, reliability of input data, confidence in continuity of geology and metal values, quality, quantity and distribution of the data). • Whether the result appropriately reflects the Competent Person’s view of the deposit.	• The resource is sufficient to be classified as inferred. • The drilling density and surface mapping is sufficient to provide some continuity of interpretation but lacks structural integrity and data density for detailed assessment for a greater classification • The classification is considered appropriate by the competent person

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Criteria	JORC Code explanation	Commentary
Audits or reviews	• The results of any audits or reviews of Mineral Resource estimates.	• No audit or reviews of this assessment has been conducted
Discussion of relative accuracy/ confidence	• Where appropriate a statement of the relative accuracy and confidence level in the Mineral Resource estimate using an approach or procedure deemed appropriate by the Competent Person. For example, the application of statistical or geostatistical procedures to quantify the relative accuracy of the resource within stated confidence limits, or, if such an approach is not deemed appropriate, a qualitative discussion of the factors that could affect the relative accuracy and confidence of the estimate. • The statement should specify whether it relates to global or local estimates, and, if local, state the relevant tonnages, which should be relevant to technical and economic evaluation. Documentation should include assumptions made and the procedures used. • These statements of relative accuracy and confidence of the estimate should be compared with production data, where available.	• The confidence level of this resource is appropriate for inferred only. Sufficient statistical assessment and continuity of interpretation on progressive cross-sections warrants the confidence and also supports the necessary future drilling requirements for an improvement in classification.

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APPENDIX 2 - RC DRILL COLLARS

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

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