M3 MINING LIMITED — Capital/Financing Update 2023

Apr 30, 2023

ASX Announcement

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DRILLING COMMENCES AT EDJUDINA GOLD PROJECT

HIGHLIGHTS

• An aircore drilling program has commenced at M3 Mining’s Edjudina Gold Project located 140km northeast of Kalgoorlie, Western Australia

• Drilling to follow 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)

• Planned drilling program is expected to be completed over the next two weeks

M3 Mining Limited (ASX:M3M) (M3 Mining or the Company) is excited to announce the commencement 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 excited to be back at Edjudina following up on our highlight gold intercepts from our maiden drilling program the Project. The focus of this program is to test the Jump Up prospect for continuation of primary mineralisation along a gold-in-soil anomaly that runs 1,600m further to the southeast. Following the completion and receipt of assay results, infill drilling will be planned along this corridor subject to any significant results.”

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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.

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.