M3 MINING LIMITED — Interim / Quarterly Report 2026

Apr 29, 2026

ASX Announcement

30 April 2026

M3 MINING

QUARTERLY ACTIVITIES REPORT FOR THE PERIOD ENDING 31 MARCH 2026

Projects - Edjudina Project

• Heritage agreement continuing to progress with aim to undertake heritage surveys at Yilgangie and El Capitan
• New highly prospective zones at Yilgangie prospect with geological similarities to the adjacent Porphyry Gold Mine owned by Northern Star
• Review of previous drilling at El Capitan indicated further prospective zones on strike that are recommended to be drilled by independent geophysics consultants
• Drill planning continues with initial work to focus on AC drilling at Yilgangie and El Capitan extensions following completion of heritage surveys

Corporate

• Cash balance of ~$1.72m as of 31 March 2026 positioning the Company well for future exploration plans
• Ongoing evaluation of resource projects for potential acquisition

M3 Mining Limited (ASX: M3M) (M3 Mining, the Company) is pleased to provide an update on corporate and exploration activities during the March 2026 Quarter. The Company is exploring for orogenic gold deposits at its Edjudina Project and sedimentary-hosted copper deposits at its Victoria Bore Project, both located in tightly held regions of Western Australia.

Non-Executive Director, Tyler Formica: “Progress continues on the heritage agreement at Edjudina. With new drill targets at Yilgangie and potential for extensions to the known areas of mineralisation at El Capitan, The Company is well funded to execute our plans at Edjudina to test these exciting new targets following completion of heritage surveys.”

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Registered Address

M3 Mining Limited

ACN 644 548 434

ABN 98 644 548 434

Level 8, 216 St George's Tce

Perth, WA 6000

www.m3mining.com.au

Directors

Eddie King – Non-Executive Director

Tyler Formica – Non-Executive Director

Alan Armstrong – Non-Executive Director

info@m3mining.com.au

+61 08 9481 0389

Projects

Edjudina Gold Project (100% Owned)

Victoria Bore Copper Project (100% Owned)

Shares on Issue

ASX Code

208.8M

M3M

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M3 MINING

Recent Activities

During the quarter, The Company announced the completion of a geological review of all previous work at Edjudina (as announced on 12 January 2026) and in addition, Resource Potentials geophysics consultants have been engaged to undertake a geophysical review and targeting exercise across the Project to provide further regional context and provide a comprehensive suite of geophysical images.

Work continues on a heritage agreement with the aim to undertake heritage surveys at Yilgangie and El Capitan. Comprehensive drill planning continues in order to test the exciting new targets at Yilgangie and El Capitan.

Figure 1 – Newly processed airborne magnetic (TMI/RTP – 1VD) image showing prospect locations and major deposits at Edjudina Gold Project. Note Yilgangie and Porphyry West tenements under application

Yilgangie Prospect

As part of the geological review, the Company noted that the Porphyry Gold Mine (located 10 km to the east of the Yilgangie prospects) is hosted in alkalic porphyry intrusives and the recently completed review indicates this host rock is a key control for gold mineralisation. The geological review highlighted several key historic exploration results from Yilgangie (see announcement dated 12 January 2026 for full details).

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M3 MINING

Figure 2. GSWA 1:100,000 Edjudina (3338) Bedrock Geology map Yilgangie and Porphyry West prospects

Corporate

During the quarter, the Company has also assessed multiple resource project opportunities with preliminary commercial discussions currently underway.

Financial

Cash held as of 31 March 2026 was approximately $1.72m.

For the purpose of Section 6 of the Appendix 5B, all payments made to related parties have been paid in relation to director fees.

-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:

Tyler Formica
Non-Executive Director
M3 Mining Ltd
T +61 8 9481 0389
E info@m3mining.com.au

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M3 MINING

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.

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

The Company confirms that it is not aware of any new information or data that materially affects the information included in the earlier released announcements.

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M3 MINING

Edjudina Gold Project

The Edjudina Project is located approximately 150km northeast of Kalgoorlie in Western Australia. It covers a section of the established mineralised trend along the Keith-Kilkenny Tectonic Zone which hosts multiple significant gold discoveries (see Figure 3). No large-scale mining has occurred within the tenement area, however, historical near surface workings can be observed throughout the region, particularly within and along strike of the previous mines in the Yilgangi Mining Field. The Company's tenements (both granted and under application) are proximal to Northern Star's operations at both the Porphyry and Carosue Dam operations (see Figure 3).

Figure 3 – Edjudina Gold Project Overview

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M3 MINING

Victoria Bore Copper Project

The Victoria Bore Copper Project is centred on the historic Victoria Copper Mine which produced high grade copper averaging circa 32.7% Cu for 62.5t of copper from near surface in the 1950's. The Victoria Bore Project is located approximately 120km south of the town of Onslow and 130km southeast of Exmouth in Western Australia. The tenements lie adjacent to the Northwest Coastal Highway and are readily accessible (see Figure 4).

Figure 4 – Victoria Bore Copper Project Overview

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M3 MINING

Tenement Schedule

Tenement	Project	District	Status	Date of Grant
E08/3220	Victoria Bore	Ashburton	Granted	8 July 2020
E08/3326	Victoria Bore	Ashburton	Granted	15 July 2024
E08/3427	Victoria Bore	Ashburton	Granted	15 July 2024
E08/3428	Victoria Bore	Ashburton	Granted	15 July 2024
E08/3429	Victoria Bore	Ashburton	Granted	15 July 2024
E08/3430	Victoria Bore	Ashburton	Granted	15 July 2024
E08/3431	Victoria Bore	Ashburton	Granted	15 July 2024
E 31/1140	Edjudina	Yerilla	Granted	11 July 2017
E 31/1141	Edjudina	Yerilla	Granted	11 July 2017
E 31/1168	Edjudina	Yerilla	Granted	5 July 2018
P 31/2113	Edjudina	Yerilla	Granted	21 December 2017
E 31/1249	Edjudina	Yerilla	Granted	19 April 2021
E 31/1258	Edjudina	Yerilla	Granted	15 September 2021
E 31/1265	Edjudina	Yerilla	Granted	11 August 2023
E 31/1344	Edjudina	Yerilla	Granted	22 September 2023
E 31/1345	Edjudina	Yerilla	Granted	22 September 2023
P 31/2131	Edjudina	Yerilla	Granted	4 December 2020
E 31/1331	Edjudina	Yerilla	Pending	-
E 31/1321	Edjudina	Yerilla	Pending	-
E 31/1318	Edjudina	Yerilla	Pending	-
E 31/1363	Edjudina	Yerilla	Pending	-
E 31/1364	Edjudina	Yerilla	Pending	-
E 31/1365	Edjudina	Yerilla	Pending	-
E 31/1366	Edjudina	Yerilla	Pending	-
E 31/1367	Edjudina	Yerilla	Pending	-
E 39/2435	Edjudina	Mt Morgans	Pending	-
E 31/1425	Edjudina	Yerilla	Pending	-

Table 1 – M3 Mining Tenement Schedule

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Rule 5.5

Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Name of entity

M3 MINING LMITED

ABN

Quarter ended ("current quarter")

98 644 548 434

31 MAR 2026

Consolidated statement of cash flows	Current quarter $A'000	Year to date (9 months) $A'000
1. Cash flows from operating activities
1.1 Receipts from customers	-	-
1.2 Payments for
(a) exploration & evaluation	(36)	(689)
(b) development	-	-
(c) production	-	-
(d) staff costs	(43)	(134)
(e) administration and corporate costs	(41)	(392)
1.3 Dividends received (see note 3)	-	-
1.4 Interest received	3	15
1.5 Interest and other costs of finance paid	-	-
1.6 Income taxes paid	-	-
1.7 Government grants and tax incentives	-	-
1.8 Other (provide details if material)	-	-
1.9 Net cash from / (used in) operating activities	(117)	(1,200)

2. Cash flows from investing activities

2.1 Payments to acquire or for:

(a) entities

(b) tenements

(c) property, plant and equipment

(d) exploration & evaluation (capitalised)

(e) investments

(f) other non-current assets – security bond

ASX Listing Rules Appendix 5B (17/07/20)

• See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 5B
Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Consolidated statement of cash flows		Current quarter $A'000	Year to date (9 months) $A'000
2.2	Proceeds from the disposal of:
(a) entities	-	-
	(b) tenements	-	-
	(c) property, plant and equipment	-	-
	(d) investments	-	-
	(e) other non-current assets	-	-
2.3	Cash flows from loans to other entities	-	-
2.4	Dividends received (see note 3)	-	-
2.5	Other (provide details if material)	-	-
2.6	Net cash from / (used in) investing activities	-	(6)
3.	Cash flows from financing activities
---	---	---	---
3.1	Proceeds from issues of equity securities (excluding convertible debt securities)	-	2,250
3.2	Proceeds from issue of convertible debt securities	-
3.3	Proceeds from exercise of options	-
3.4	Transaction costs related to issues of equity securities or convertible debt securities	-	(159)
3.5	Proceeds from borrowings	-	-
3.6	Repayment of borrowings	-	-
3.7	Transaction costs related to loans and borrowings	-	-
3.8	Dividends paid	-	-
3.9	Other - capital raising funds received in advance and subsequently reclassified as proceeds from issues of equity securities	-	-
3.10	Net cash from / (used in) financing activities	-	2,091
4.	Net increase / (decrease) in cash and cash equivalents for the period
---	---	---	---
4.1	Cash and cash equivalents at beginning of period	1,838	836
4.2	Net cash from / (used in) operating activities (item 1.9 above)	(117)	(1,200)
4.3	Net cash from / (used in) investing activities (item 2.6 above)	-	(6)
4.4	Net cash from / (used in) financing activities (item 3.10 above)	-	2,091

ASX Listing Rules Appendix 5B (17/07/20)
+ See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 5B
Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Consolidated statement of cash flows		Current quarter $A'000	Year to date (9 months) $A'000
4.5	Effect of movement in exchange rates on cash held	-	-
4.6	Cash and cash equivalents at end of period	1,721	1,721
5.	Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts	Current quarter $A'000	Previous quarter $A'000
---	---	---	---
5.1	Bank balances	221	1,838
5.2	Call deposits	1,500	-
5.3	Bank overdrafts	-	-
5.4	Other (provide details)	-	-
5.5	Cash and cash equivalents at end of quarter (should equal item 4.6 above)	1,721	1,838
6.	Payments to related parties of the entity and their associates	Current quarter $A'000
---	---	---
6.1	Aggregate amount of payments to related parties and their associates included in item 1	42
6.2	Aggregate amount of payments to related parties and their associates included in item 2	-
Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments.

ASX Listing Rules Appendix 5B (17/07/20)
+ See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

| 7. | Financing facilities
Note: the term “facility” includes all forms of financing arrangements available to the entity.
Add notes as necessary for an understanding of the sources of finance available to the entity. | Total facility amount at quarter end $A'000 | Amount drawn at quarter end $A'000 |
| --- | --- | --- | --- |
| 7.1 | Loan facilities | | |
| 7.2 | Credit standby arrangements | | |
| 7.3 | Other (please specify) | | |
| 7.4 | Total financing facilities | | |
| 7.5 | Unused financing facilities available at quarter end | | |
| 7.6 | Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well. | | |
| 8. | Estimated cash available for future operating activities | $A'000 |
| --- | --- | --- |
| 8.1 | Net cash from / (used in) operating activities (item 1.9) | (117) |
| 8.2 | (Payments for exploration & evaluation classified as investing activities) (item 2.1(d)) | - |
| 8.3 | Total relevant outgoings (item 8.1 + item 8.2) | (117) |
| 8.4 | Cash and cash equivalents at quarter end (item 4.6) | 1,721 |
| 8.5 | Unused finance facilities available at quarter end (item 7.5) | - |
| 8.6 | Total available funding (item 8.4 + item 8.5) | 1,721 |
| 8.7 | Estimated quarters of funding available (item 8.6 divided by item 8.3) | 14.71 |
| | Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7. | |
| 8.8 | If item 8.7 is less than 2 quarters, please provide answers to the following questions: | |
| | 8.8.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not? | |
| | Answer: N/A. | |
| | 8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful? | |
| | Answer: N/A | |
| | 8.8.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis? | |
| | Answer: N/A | |
| | Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2 and 8.8.3 above must be answered. | |

ASX Listing Rules Appendix 5B (17/07/20)

• See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 5B
Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Compliance statement

1. This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.
2. This statement gives a true and fair view of the matters disclosed.

Date: ...30 April 2026

Authorised by: ...BY THE BOARD
(Name of body or officer authorising release – see note 4)

Notes

1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity's activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so.
2. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report.
3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.
4. If this report has been authorised for release to the market by your board of directors, you can insert here: "By the board". If it has been authorised for release to the market by a committee of your board of directors, you can insert here: "By the [name of board committee – eg Audit and Risk Committee]". If it has been authorised for release to the market by a disclosure committee, you can insert here: "By the Disclosure Committee".
5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council's Corporate Governance Principles and Recommendations, the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively.

ASX Listing Rules Appendix 5B (17/07/20)
+ See chapter 19 of the ASX Listing Rules for defined terms.