M3 MINING LIMITED — Capital/Financing Update 2022

Sep 28, 2022

ASX Announcement

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Company Announcements Office Australian Securities Exchange

NOTICE UNDER SECTION 708AA(2)(f) OF THE CORPORATIONS ACT 2001

This notice is given by M3 Mining Limited (ASX:M3M) ( Company ) in relation to a non-renounceable pro-rata offer of shares at an issue price of $0.12 each ( New Shares ) on the basis of (1) New Share for every (4) fully paid ordinary shares in the Company held on the Record Date to raise up to approximately $1.11 million (before costs) ( Entitlement Offer ). The Company will offer the New Shares for issue to investors without disclosure under Part 6D.2 of the Corporations Act 2001 (Cth) ( Act ).

Further details regarding the Entitlement Offer are set out in the ASX Announcement released to the market on 29 September 2022 and the Company's Offer Document dated 29 September 2022.

This notice is given by the Company to ASX under section 708AA(2)(f) of the Act as modified by ASIC Corporations Instrument 2016/84.

The Company hereby notifies ASX that:

• (a) the New Shares under the Entitlement Offer will be issued without disclosure to investors under Part 6D.2 of the Act;

  • a.

• (b) this Notice is being given under section 708AA(2)(f) as modified by ASIC Corporations Instrument 2016/84;

  • b.

• (c) as at the date of this notice, the Company has complied with:

  • (i) the provisions of Chapter 2M of the Act as they apply to the Company; and

  • (ii) section 674 of the Act;

  • c.

• (d) as at the date of this notice, there is no information:

  • (i) that has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules; or

  • (ii) that investors and their professional advisers would reasonably require for the purpose of making an informed assessment of:

    • (A) the assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or

    • (B) the rights and liabilities attaching to the New Shares.

      • d.

• (e) The potential effect that the Entitlement Offer will have on the control of the Company and the consequences of that effect will depend on a number of factors, including investor

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Registered Address

Directors

Projects

West Perth, WA 6005 www.m3mining.com.au

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demand and existing shareholdings. As the Entitlement Offer is a pro-rata issue, and given the current level of holdings of substantial holders (based on substantial shareholder notices give to the Company and lodged with ASX before the date of this announcement) the Entitlement Offer is not expected to have any material effect on the control of the Company and, as a result, there is not expected to be any consequences flowing from that effect.

ENDS

Yours sincerely

Ben Donovan Company Secretary

For further information please contact:

Simon Eley Media Executive Director David Tasker M3 Mining Ltd Chapter One Advisors T +61 8 6365 5200 T +61 433 112 936 E info@m3mining.com.au E dtasker@chapteroneadvisors.com.au

About M3 Mining

M3 Mining Limited (ASX:M3M) is a Perth-based mineral exploration company focused on creating value for shareholders through exploration and development of a high-quality copper and gold exploration portfolio. M3 Mining’s projects are strategically located in regions surrounded by majors and has experienced minimal modern, systematic exploration across both projects. The Company’s strategy is to apply a systematic approach to the assessment and prioritisation of its projects, all of which have the potential to produce material discoveries.