INFINITY MINING LIMITED — Capital/Financing Update 2025

Apr 2, 2025

ASX ANNOUNCEMENT 3 APRIL 2025

STRATEGIC UPDATE - PILBARA AND GOLDFIELDS ASSETS

• Infnity progressing strategic review in response to changing market conditions in the resources sector

• Options to unlock additional value for shareholders being explored including possible divestment plans for Western Australian assets

Infnity Mining Limited (ASX:IMI) ( Company or Infnity ) is pleased to provide an update on its strategic review as outlined in the Chairman’s address for the General Meeting held in November 2024. As part of the review, Infinity identified plans to explore a divestment of its Western Australian projects in response to changing market conditions in the resources sector. This strategy aimed to reduce the fixed costs associated with the Western Australia tenements and free up additional cash resources.

The outcomes of the strategic review include advancing the gold and copper exploration projects acquired in 2024 from GMH Resources (NSW) Pty Ltd, Eastern Victoria Gold Exploration Pty Ltd, and the Cangai Copper Project from New Frontier Minerals Limited (formerly Castillo Copper Limited), as a priority with a focus on further exploration and development, see Figure 1 .

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Figure 1: Infinity Eastern-Australian Portfolio.

Infinity Mining Ltd / ABN: 73 609 482 180 / T: +61 7 2141 5832 / W: infinitymining.com.au

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The Cangai Copper Project is a historic high-grade copper mine with JORC-compliant resources and nearterm development potential.[1]

The Company is also currently considering various options to unlock shareholder value in its Western Australian assets including possible divestment plans for the Company’s assets in both the Goldfields and Pilbara regions, see Figures 2 and 3 .

A number of the Company’s Western Australian assets are currently under due diligence and divestment plans are expected to settle in the coming months.

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Figure 2: Infinity Goldfields Portfolio.

1 IMI ASX Announcement dated 13 March 2025

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Figure 3: Infinity Pilbara Portfolio.

Infinity remains committed to maximizing value for its shareholders and will continue to provide updates as appropriate.

This announcement has been authorised and approved for release by the Board of Infinity Mining Limited.

For further information, please contact:

Joe Phillips Executive Chairman +61 7 2141 5832 communications@infinitymining.com.au

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Company Profile

Infinity Mining Limited holds a diverse portfolio of projects, spanning over 3,700 km² across highly prospective regions, including NSW's Macquarie Arc, Victoria's Melbourne Zone, and the East Pilbara and Central Goldfields in Western Australia. These tenements host potential high-grade resources, including copper, gold, and other base metals, alongside the Company’s existing focus on lithium.

The flagship Cangai Copper Project, a historic high-grade copper mine with a JORC-compliant resource, offers nearterm development potential. Infinity’s broader portfolio is strategically located near established mining operations, enhancing the economic viability and development timelines of its projects.

Caution Regarding Forward Looking Statements

Certain of the statements made and information contained in this press release may constitute forward-looking information and forward-looking statements (collectively, “forward-looking statements”) within the meaning of applicable securities laws. All statements herein, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future, including but not limited to statements regarding exploration results and Mineral Resource estimates or the eventual mining of any of the projects, are forward-looking statements. The forward-looking statements in this press release reflect the current expectations, assumptions or beliefs of the Company based upon information currently available to the Company. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and no assurance can be given that these expectations will prove to be correct as actual results or developments may differ materially from those projected in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include but are not limited to: unforeseen technology changes that results in a reduction in copper, nickel or gold demand or substitution by other metals or materials; the discovery of new large low cost deposits of copper, nickel or gold; the general level of global economic activity; failure to proceed with exploration programmes or determination of Mineral resources; inability to demonstrate economic viability of Mineral Resources; and failure to obtain mining approvals. Readers are cautioned not to place undue reliance on forward-looking statements due to the inherent uncertainty thereof. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. The forward-looking statements contained in this press release are made as of the date of this press release and except as may otherwise be required pursuant to applicable laws, the Company does not assume any obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

No New Information

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

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