INFINITY MINING LIMITED — Regulatory Filings 2025

Mar 18, 2025

ASX ANNOUNCEMENT 19 MARCH 2025

INFINITY IDENTIFIES NEW EM GEOPHYSICAL TARGETS AT BOGONG COPPER PORPHYRY PROSPECT, NSW

• Bogong Copper Mineralisation has Electromagnetic (EM) Response : The re-evaluation of the 2019 Fixed-Loop Electromagnetic (FLEM) data confirms an EM conductor is coincident with the known porphyry-style copper mineralisation at the Bogong Copper Prospect.

• Two New Untested Conductors : Two additional conductors have also been identified ~250m east of the main mineralised zone, which remain untested by drilling.

• Coincident Copper-in-Soil Anomaly : The new untested EM conductors are associated with a >100 ppm Cu-in-soil anomaly, further supporting their potential copper prospectivity.

• EM - An Effective Exploration Tool : Electromagnetics can be applied more broadly to the project area, to refine existing targets and identify new targets along strike and at depth.

Infinity Mining Limited (ASX: IMI) (“Infinity” or “the Company”) is pleased to announce the results of a recent review of the 2019 Fixed-Loop Electromagnetic (FLEM) survey from the Bogong Copper Prospect.

The review, conducted by Mitre Geophysics, has identified multiple new electromagnetic (EM) conductors, further enhancing the exploration potential of the project. One EM conductor is associated with the known copper mineralisation and another two untested EM conductors lie ~250 m to the east ( Figure 1 ).

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Figure 1: Bogong Copper Project showing new EM Targets and copper soil anomalies.

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

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BOGONG – A POTENTIAL COPPER PORPHYRY SYSTEM

The Bogong Copper Prospect lies within the highly prospective Macquarie Arc of Lachlan Fold Belt, which is host to several world-class porphyry copper-gold systems like Cadia and Northparkes.

The copper mineralisation intersected in previous drill holes at Bogong is associated with a felsic porphyry intrusive, as recognised by previous explorer DevEx Resources Limited (ASX:DEV) (DevEx). Previous drilling returned copper intersections of up to 54.9 m @ 1.06% Cu, from 6.1 m depth in hole 16, with the main copper minerals being chalcopyrite and bornite (see ASX: DEV Announcement 23 October 2019).

The previous drilling at Bogong is limited and the mineralisation is not closed off along strike or at depth, leaving an opportunity for Infinity to explore for a larger porphyry-related copper system at depth. Many of the previous drill holes intersected low-grade copper zones and pyrite-rich mineralisation, typical of the upper parts of a typical porphyry system (see Figure 2 ). The deeper copper-rich parts of the porphyry model (Ore Shell) have not been fully tested at Bogong.

Infinity aims to use electromagnetics (EM) as an exploration tool to define conductive targets, which could represent higher-grade copper zones at depth. A schematic model showing details of the classic porphyry model is included below in Figure 2 (modified after Lowell and Gilbert 1970).

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Figure 2: Porphyry Copper Schematic Model (after Lowell and Guilbert 1970) showing copper zones are commonly surrounded by a lower-grade pyrite shell.

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BOGONG EM GEOPHYSICAL TARGETS

A re-evaluation of the 2019 DevEx Resources Limited (ASX: DEV) FLEM survey by Mitre Geophysics has confirmed an EM conductor is coincident with copper mineralisation previously intersected in historical drilling at Bogong[1] (see Figure 1 ). This reinforces that EM is an effective geophysical exploration tool for identifying copper mineralisation within the Bogong prospect area.

Additionally, two new EM conductors have been identified approximately 250 metres east of the main copper mineralisation zone. These conductors have not been drill-tested and lie on the eastern flank of a high-chargeability induced polarisation (IP) anomaly[2] . The presence of EM conductors on either side of the IP anomaly suggests that copper mineralisation may occur on both margins of the IP anomaly (see Figure 3 ). Bogong may host a mineral system that has a pyritic core (IP anomaly), with copper mineralisation occurring on either side (EM conductors), which is consistent with the porphyry model (see Figure 2 ).

In addition, one of the newly identified eastern conductors is associated with a historical >100 ppm copperin-soil anomaly[3] , further enhancing its copper prospectivity (see Figure 1 ). See DevEx ASX Announcements 22 May 2018, 23 October 2019 and 30 January 2020.

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Figure 3: Bogong FLEM plate models and survey lines plotted on the 2019 Gradient Array IP Chargeability image.

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

2 - ASX:DEV – 23/10/2019 - https://www.devexresources.com.au/wp content/uploads/2024/06/6950892.pdf

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

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TECHNICAL FINDINGS

The 2019 FLEM survey, conducted by Fender Geophysics for previous explorer DevEx Resources, comprises five lines of data acquisition across the Bogong mineralisation using a TerraTEM system (see JORC Table 1 ). The survey identified three early-time responses corresponding to large, weakly conductive zones. However, due to limitations in transmitter loop positioning, the conductors were weakly coupled, making it difficult to model their depth extent and dip with high confidence.

The strongest EM response was identified on line 6081600N, which was modelled using two variations (V1 and V2) to account for uncertainties. V1 aligns with known copper mineralisation, making it the preferred model (see Figure 4 ).

The two eastern conductors are also open along strike and require further definition. Their alignment with an adjacent strong IP chargeability anomaly increases their potential prospectivity.

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V1
V2
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Figure 4: 3D image of Bogong FLEM plate models and drillholes coloured by copper assays. Insert shows more detail of the two possible plate variations (V1, V2) for the strong anomaly on line 6081600N.

NEXT STEPS

Infinity plans to implement a more detailed EM survey over these new eastern EM conductors with improved resolution, to define the EM conductors more precisely, prior to drill testing.

These new findings strengthen Infinity’s exploration strategy at Bogong, identifying EM as an effective geophysical method for identifying additional porphyry-related copper mineralisation across the project area. The Company looks forward to updating shareholders as exploration progresses.

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BOGONG PROJECT

Bogong is part of Infinity’s NSW portfolio of 7 ELs, targeting copper-gold and other critical minerals. The Company is eager to advance its work programs on these highly prospective tenements, with initial on-site evaluations, geological mapping, geochemical sampling programs, followed by modern geophysics and drilling in 2025.

Bogong lies within the highly prospective Macquarie Arc of Lachlan Fold Belt and are strategically positioned within one of the world’s most mineral-rich regions. The Macquarie Arc, a volcanic arc formed during the Ordovician period, is renowned for hosting world-class porphyry copper-gold systems like Cadia and Northparkes (see Figure 5 ). The Lachlan Fold Belt is an extensive geological province containing not only world-class porphyry deposits but also orogenic gold and poly-metallic VHMS systems.

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Figure 5: NSW Project Location Overview.

Joe Phillips, Executive Chairman of Infinity Mining commented:

“These latest findings at Bogong further validate the use of EM as a key exploration tool in identifying additional copper mineralisation. The confirmation of an EM conductor associated with known mineralisation and the identification of new untested EM targets provide an exciting opportunity to expand our understanding of the prospect. We are committed to refining our geophysical approach to optimise drill targeting and unlock the full potential of the Bogong prospect.”

The Company will provide further updates as exploration activities progress, for further information please contact:

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For further information, please contact:

Joe Phillips

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

Company Profile

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

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

Caution Regarding Forward Looking Statements

Certain of the statements made and information contained in this press release may constitute forwardlooking 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 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.

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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 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) maywarrant disclosure of detailed information.	Bogong Fixed Loop Electromagnetic (FLEM) Survey – 2019 - Conducted by Fender Geophysics (October 13–17, 2019) at Bogong Project (EL8717), ~20 km SE of Tumut, NSW. - Fixed Loop EM (FLEM) confguration used. - Equipment: Terratem Tx50 transmitter and Terratem EM Receiver. - Survey Specifcations: -- EW survey lines 100m apart, station spacing 50m. -- Transmitter Loop 1: 400m x 700m (Easting 627000–627400 E, Northing 6081200–6081900 N, GDA94/MGA55). -- Five survey lines, each 1000m in length.
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,bywhat method,etc).	Not applicable (NA) – No drilling conducted.
Drill sample recovery	• Method of recording and assessing core and chip sample recoveries and results assessed. • 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.	NA– No drilling conducted.
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.	NA– No geological logging conducted.

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Criteria	JORC Code explanation	Commentary
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 beingsampled.	NA– No sub-sampling conducted.
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.	- Geophysical data processing used Maxwell software (QC, processing, and modelling). - Equipment Calibration & Survey Parameters: -- Terratem Tx50 Transmitter and Terratem EM Receiver. -- Data quality validated; noisy readings removed. -- Channels 38 (0.5305 ms) to 60 (3.9205 ms) analysed.
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.	- Raw EM data supplied by Fender Geophysics was processed in Maxwell software. - Data validation included: -- Review of decays for noise. -- Removal of bad repeat readings. -- Final averaging of valid repeat readings. - Both raw and processed data provided in report deliverables.
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. • Qualityand adequacyof topographic control.	- Grid system: GDA94 / MGA Zone 55. - Survey accuracy – Fender use a Garmin GPS62.
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 compositinghas been applied.	-Survey line spacing:100m. -Station spacing:50m. -Transmitter Loop Dimensions: 400m x 700m.

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Criteria	JORC Code explanation	Commentary
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.	- Survey conducted using E-W survey lines, spaced 100m apart, with 50m station spacing. - Orientation aligns with regional foliation, folding, and faulting patterns.
Sample security	• The measures taken to ensure sample security.	-NA– the ASX Release only contains geophysical results.
Audits or reviews	• The results of any audits or reviews of sampling techniques and data.	- Data reviewed by a geophysicist on-site and during ofce processing. - Data processing included validation and removal of noisy readings.

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 obtaininga licence to operate in the area.	The Bogong Project is located within Exploration Licence EL9697 held by Infnity Mining Limited. The tenement covers an area of 111 sq km. The Exploration Licence EL9697 is in good standing.
Exploration done by other parties	• Acknowledgment and appraisal of exploration by other parties.	1965-1967 (North Broken Hill, MEL6): Mapping, stream sediments, soils, IP; rock chips, IP. 1969-1970 (Vam Limited, EL173): Targeted the Serpentinite belt; resistivity and magnetics. 1972-1973 (AOG Minerals, EL511):Grid soils, rock chips, ground magnetics, percussion drilling; 33 holes for 1400m intersected minor high-grade zones. 1979-1980 (Probex Pty Ltd, EL1214): No gold observed. 1982-1983 (AOG Minerals, EL1895): Stream sediments, rock chips. 1985-1990 (Helix Resources, EL2536): Targeted PGEs; stream sediments, rock chips; values too low for discrete mineralisation. 2000-2002 (Golden Cross, EL5710): Rock chips; anomalous Cu and Au recovered. 2018-2020(DevEx Resources, EL8717):Rock

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Criteria	JORC Code explanation	Commentary
		chips, soils, IP, EM, magnetics, drilling.
Geology	• Deposit type, geological setting and style of mineralisation.	The Bogong Copper-Gold Project, located within the Lachlan Fold Belt of New South Wales, is focused on a sequence of Silurian volcanic that lie bounded to the east by the Mooney Moony Fault System. Signifcant disseminated copper mineralisation was encountered in drilling by AOG Minerals over signifcant widths in both vertical and angled holes. Mapping and rock chip sampling by the DevEx Resources identifed that most of the copper and gold mineralisation is associated with the coarse grain feldspar porphyry (diorite). Copper sulphide mineralisation is seen in both the matrix within the rock and as copper sulphide veins proximal to fractures and brecciation. Chalcopyrite/bornite veins crossing through this intrusive rock are also common. Volcanic rocks west of the Bogong workings also contain copper mineralisation and may be overlying a deeper porphyry copper system beneath. The mineralisation model is currently under assessment, with petrology and detailed multielement analysis of the copper rich breccias planned. The close relationship of the copper sulphides with the felspar porphyry suggests an intrusive model.
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.	NA– the ASX Release only contains geophysical results.

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Criteria	JORC Code explanation	Commentary
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.	NA– the ASX Release only contains geophysical results.
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’).	NA– the ASX Release only contains geophysical results.
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.	Appropriate maps and diagrams are presented within the ASX Release Body. Individual assay results of the sampled intervals are not included as an appendix table, as appropriate maps and diagrams present the visual trend of the assay results.
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.	NA– the ASX Release only contains geophysical results.
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 contaminatingsubstances.	There is no other exploration data that are 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.	’Further work’ is presented in the ‘Next Steps’ section of the ASX Release Body.

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