M3 MINING LIMITED — Capital/Financing Update 2023

May 9, 2023

ASX Announcement

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CONCLUSION OF DRILLING AT EDJUDINA GOLD PROJECT

HIGHLIGHTS

• Program concludes, drilling a total of 3,456m across 76 holes over three prospects

• Drilling followed up mineralisation intercepted in maiden program; intercepts include[1]

  • 12m at 0.84 g/t Au from 68m (Incl. 4m at 1.92 g/t Au from 72m) (EDJAC085)

  • 3m at 1.50 g/t Au from 76m (EDJAC071)

  • 20m at 0.24 g/t Au from 16m (EDJAC075)

  • 12m at 0.20 g/t Au from 72m (EDJAC070)

• Samples dispatched to assay laboratory in Kalgoorlie for analysis

M3 Mining Limited (ASX:M3M) (M3 Mining or the Company) is excited to announce the conclusion of a follow-up drilling program at the Edjudina Gold Project ( Edjudina or the Project ).

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Figure 1 – Aircore Drilling at Edjudina

1See M3M ASX Announcement, 21/12/22, “Primary Gold Intercepted in Maiden Edjudina Aircore Program” for additional details.

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Registered Address

Directors

Projects

www.m3mining.com.au

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EXECUTIVE DIRECTOR SIMON ELEY:

“M3 Mining is pleased to share that the follow-up aircore program at Edjudina has successfully concluded. In addition to testing potential extension of the mineralisation at Jump Up 1, we were also able to drill two further prospects; Jump Up 3 and 4. Both prospects are centred over broad gold anomalies from historic soil sampling programs and have never been effectively tested. M3 Mining awaits the completion and receipt of assay results and will update shareholders accordingly.”

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Figure 2 – Edjudina Gold Project Overview[2]

2 See SAR ASX Announcement, 04/08/20, “Carosue Dam and Thunderbox only - Reserves rise to 3.7Moz” for additional details regarding standalone JORC categories of the quoted mineral resources at Carosue Dam and Porphyry.

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Figure 3 – Plan view of completed aircore drilling at the Jump Up Prospect at Edjudina Gold Project[3] .

3 See M3M ASX Announcement, 21/12/22, “Primary Gold Intercepted in Maiden Edjudina Aircore Program” for additional details.

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-END-

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

Investors should refer to previously stated announcements for additional details on exploration results and associated competent person statement .

For further information please contact:

Simon Eley Media Executive Director David Tasker M3 Mining Ltd Chapter One Advisors T +61 8 6243 6581 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.