M3 MINING LIMITED — Capital/Financing Update 2024

Apr 16, 2024

ASX Announcement

==> picture [115 x 91] intentionally omitted <==

AIRCORE DRILLING PROGRAM COMMENCES AT EDJUDINA GOLD PROJECT

HIGHLIGHTS

• Aircore (AC) drilling program commenced at key gold targets

• Recent soil sampling indicates continuation and intensification of mineralized trends from El Capitan where previous drilling intersected 1m at 2,304 g/t Au[1]

• Drilling campaign to take place 15km from Solstice Mineral’s (SLS) Hobbes gold deposit. This deposit is currently the focus of a sale and purchase agreement between SLS and Northern Star Resources (NST)[2]

==> picture [435 x 282] intentionally omitted <==

Figure 1 – Drilling at Edjudina Gold Project

M3 Mining Limited (ASX: M3M) ( M3 Mining or the Company ) is pleased to provide an update on drilling operations at the Edjudina Gold Project ( Edjudina or the Project ), located approximately 150km northeast of Kalgoorlie, WA.

1 EDJAC164 (27-28m) See M3M announcement 10/07/2023 “Spectacular gold mineralisation confirmed at Edjudina” for details. 2 See SLS announcement 09/04/2024 “Sale of Hobbes Exploration Licence for $12.5M”

==> picture [54 x 49] intentionally omitted <==

Registered Address

Directors

Projects

www.m3mining.com.au

==> picture [134 x 38] intentionally omitted <==

EXECUTIVE DIRECTOR SIMON ELEY SAID:

"This is a great time to be in the goldfields exploring for gold along a significant trend. The current record gold price and recent acquisition of the neighbouring Hobbes gold deposit by Northern Star provides real significance to the area and gives this upcoming AC drilling program some added anticipation.”

Aircore Drilling Program

As announced on 18 March 2024, the Company has identified three high-priority targets at Edjudina[3] for approximately 3,500m of AC drilling (see Figure 2). These targets are southsoutheast of the El Capitan prospect that returned 10m at 241.2 g/t Au from 27m[4] . As noted previously, none of the targets have had any systematic exploration with target 1 having seen limited drilling in the past, whilst the two remaining targets have not been drilled. Drilling was delayed due to recent weather conditions, however, conditions have improved and drilling has since commenced.

Subject to the results of the upcoming program, as well as other drilling programs being planned, at Edjudina, the acquisition of the neighbouring Hobbes gold deposit by Northern Star[5] is encouraging for M3 Mining due to the proximity of the Company’s tenements (both granted and under application) to Northern Star’s operations at both the Porphyry and Carosue Dam operations (see Figure 3).

3 See M3M announcement 1/02/2024 “Extensive Gold Anomaly in Edjudina Soils” for details

4 EDJAC164 (27-28m) See M3M announcement 10/07/2023 “Spectacular gold mineralisation confirmed at Edjudina” for details.

5 See SLS announcement 09/04/2024 “Sale of Hobbes Exploration Licence for $12.5M”

==> picture [134 x 38] intentionally omitted <==

==> picture [478 x 524] intentionally omitted <==

Figure 2 – Drill Targets at The Edjudina Gold Project[6]

6 See M3M announcement 18/03/2024 “Gold And Copper Exploration To Commence” for details.

==> picture [134 x 38] intentionally omitted <==

==> picture [445 x 635] intentionally omitted <==

Figure 3 – The Edjudina Gold Project

==> picture [134 x 38] intentionally omitted <==

-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 Executive Director M3 Mining Ltd T +61 8 6243 6581 E info@m3mining.com.au

Media David Tasker Chapter One Advisors T +61 433 112 936 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 base metal 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.

==> picture [233 x 342] intentionally omitted <==