M3 MINING LIMITED — Capital/Financing Update 2022

Sep 27, 2022

ASX Announcement

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M3 MINING EXPANDS STRATEGIC FOOTPRINT AT EDJUDINA

HIGHLIGHTS

• M3 Mining increases its tenement position at the Edjudina Gold Project northeast of Kalgoorlie

• The new tenements expands the Company’s ground position in an area tightly held by majors such as Northern Star (ASX:NST), Solstice Minerals Limited (ASX:SLS) and Sumitomo Metal Mining Co. Ltd

• Strong upcoming newsflow with the maiden air-core drilling program ongoing at Edjudina and RC drilling to commence at Victoria Bore in early Q4 CY2022, drilling highpriority untested EM conductors

M3 Mining Limited (ASX:M3M) (M3 Mining or the Company) is pleased to advise that it has made applications for two exploration licences in the Edjudina area. The Company has been working with a party in relation to making these exploration licence applications and has also agreed to acquire a prospecting licence (P31/2131) from this party which is east of the exploration licence applications. The Company has agreed to issue 285,714 shares and pay $15,000 in relation to these new tenements. The expanded portfolio improves the Company’s ground position at the Edjudina Gold Project (Edjudina).

The Company is very pleased to have been able to secure this additional tenure, subject to grant, in a key strategic area with active exploration underway and ongoing consolidation by competitors and majors outlined in Figure 1.

This acquisition and applications complement M3 Mining’s dual track strategy of building upon the Company’s existing portfolio and assessing and evaluating additional strategic acquisition opportunities.

EXECUTIVE DIRECTOR SIMON ELEY:

“M3 Mining’s approach of increasing our tenure in and around our projects continues to deliver results. The new tenements nearby to existing Edjudina tenements aligns with the Company’s strategy to build a package of highly prospective gold and copper exploration tenements in regions

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Registered Address

Directors

Projects

www.m3mining.com.au

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surrounded by majors. We look forward to progressing these projects through a rigorous low-cost exploration program over the coming months and updating shareholders accordingly.”

New Tenements

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Figure 1 Edjudina Gold Project - New Tenements

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Table 1 - M3 Mining Tenement Schedule – New tenements listed in Gold

Tenement	Project	District	Status	Date	Term
E08/3220	Victoria Bore	Ashburton	Granted	4 June 2020	5 Years
E08/3326	Victoria Bore	Ashburton	Pending	10 February 2021	5 Years
E08/3427	Victoria Bore	Ashburton	Pending	9 September 2021	5 Years
E08/3428	Victoria Bore	Ashburton	Pending	9 September 2021	5 Years
E08/3429	Victoria Bore	Ashburton	Pending	9 September 2021	5 Years
E08/3430	Victoria Bore	Ashburton	Pending	9 September 2021	5 Years
E08/3431	Victoria Bore	Ashburton	Pending	9 September 2021	5 Years
E08/3440	Victoria Bore	Ashburton	Pending	9 September 2021	5 Years
E 31/1140	Edjudina	Yerilla	Granted	11 July 2017	5 Years
E 31/1141	Edjudina	Yerilla	Granted	11 July 2017	5 Years
E 31/1168	Edjudina	Yerilla	Granted	5 July 2018	5 Years
P 31/2113	Edjudina	Yerilla	Granted	21 December 2017	5 Years
E 31/1249	Edjudina	Yerilla	Granted	6 May 2020	5 Years
E 31/1258	Edjudina	Yerilla	Granted	26 June 2020	5 Years
E 31/1265	Edjudina	Yerilla	Pending	10 July 2020	5 Years
E 31/1344	Edjudina	Yerilla	Pending	16 September 2022	5 Years
E 31/1345	Edjudina	Yerilla	Pending	16 September 2022	5 Years
P 31/2131	Edjudina	Yerilla	Granted	4 December 2020	5 Years

This announcement has been authorised for issue by the Board of M3 Mining Limited in accordance with ASX Listing Rule 15.5.

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.