INFINITY MINING LIMITED — Capital/Financing Update 2025

Mar 12, 2025

ASX ANNOUNCEMENT 13 March 2025

CANGAI COPPER PROJECT DRILL CORE RE-LOGGING & DRONE MAGNETIC SURVEY TARGETING PLANS

• Cangai Diamond Drill Core Re-logging Confirms Magnetic Pyrrhotite – The presence of magnetic pyrrhotite within the zone of copper mineralisation in drill core, supports the application of a magnetic survey at Cangai, to delineate new drill targets.

• Previous Magnetic Survey Data Interpretation – Infinity will re-interpret historical magnetic survey data from past programs including CRA (1990s) and WMC (1980s) to help design a new drone magnetic survey at Cangai.

• Proposed Modern Drone Magnetic Survey – The new high-resolution drone-based magnetic survey is planned to define subsurface 3D drill targets and assess the broader potential of the Cangai Copper Project.

Infinity Mining Limited (ASX: IMI ) (“Infinity” or the “Company”) is pleased to announce that recent re-logging of diamond drill core from hole CC0036D at the Cangai Copper Project has identified the presence of magnetic pyrrhotite, associated with the copper mineralisation zone (see Figures 1 and 2 ).

This observation has highlighted the value of implementing a new modern magnetic survey as the next exploration step, to further define new subsurface drill targets, which could be associated with additional copper mineralisation.

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Figure 1: Photos of the highly magnetitic mineralised drill core (pyrrhotite) in diamond core hole CC0036D, responding strongly to a hand-held magnet..

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

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The drill core re-logging program builds upon previously reported high-grade assay results by Castillo Copper Limited (ASX: CCZ), including 4.39m @ 5.06% Cu, 2.56% Zn, and 20.1 g/t Ag from 49.9m , with peak values of 14.45% Cu, 5.93% Zn, and 40.1 g/t Ag[1] within drill hole C0036D.

The identification of pyrrhotite (a magnetic iron sulfide mineral) within drill hole CC0036D, associated with the zones of copper sulfide mineralisation, (see Figure 3 ) is an exciting observation that could boost our exploration efforts in the future. Infinity’s re-logging exercise includes mineral estimations of 1% to 20% pyrrhotite within the main zone of massive sulphide mineralisation between 49.9 m and 54.27 m depth in hole CC0036D.

Magnetic geophysical surveys and 3D modelling of subsurface magnetic bodies present a highly effective and low-cost exploration tool, for delineating new drill targets to locate extensions of the known copper mineralisation.

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Figure 2: Infinity Mining Geologists Dr Matthew White and Dr Darryn Hedger inspecting the pyrrhotite-bearing drill core samples associated with copper mineralisation in hole CC0036D..

SIGNIFICANCE OF MAGNETIC PYRRHOTITE

Pyrrhotite is a key sulfide indicator mineral in many copper-bearing massive sulfide deposits. Its magnetic properties allow for effective subsurface mapping using modern magnetic geophysical techniques, particularly in areas where mineralisation is concealed under cover.

1 ASX:CCZ – 11 December 2018 (https://wcsecure.weblink.com.au/pdf/CCZ/02058422.pdf)

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The historical magnetic survey data will help Infinity design the new magnetic survey area. This will be followed by a new modern geophysical drone-based survey and 3D modelling work. This strategy will help Infinity improve its drill targeting efficiency, reduce exploration risk, and enhance the understanding of structural controls on mineralisation at Cangai.

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Figure 3: Photos of the CC0036D Core Samples.

NEXT STEPS

• Re-interpretation of historical CRA and WMC magnetic survey data.

• Planning and execution of a new drone-based magnetic survey over high-priority areas.

• 3D modelling of new magnetic data to define new high-priority subsurface exploration targets for future drilling campaigns.

Joe Phillips, Executive Chairman of Infinity Mining commented:

“The identification of magnetic pyrrhotite within high-grade copper mineralisation zones at Cangai highlights an exciting opportunity to define new high-priority exploration targets for drill testing. By using modern magnetic survey techniques and sophisticated 3D modelling, we can significantly improve our understanding of the copper system and effectively test for extensions to the known high-grade copper zones.”

The Company will provide further updates as exploration activities progress, 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 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.

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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