M3 MINING LIMITED — Regulatory Filings 2021

Dec 15, 2021

ASX Announcement

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M3 COMMENCES DOWNHOLE EM SURVEYS AT VICTORIA BORE

HIGHLIGHTS

• M3 Mining commences downhole electromagnetics (DHEM) at Victoria Bore to better define surface EM anomalies and to test for off-hole conductors representing potential base metal sulphide mineralisation

• Assay results from M3 Mining’s maiden ~1,200m RC drill program at Victoria Bore are now expected to be received in early Q1 CY2022

M3 Mining Limited (ASX:M3M) (“ M3 Mining ”, “ M3 ” or the “ Company ”) is pleased to announce the completion of the maiden ~1,200m RC drill program and commencement of downhole electromagnetic (DHEM) surveys at Victoria Bore, Western Australia.

The maiden ~1,200m RC drill program has been completed, with assay results expected to be received in early Q1 CY2022. The drill program targeted both existing historical workings and untested FLEM geophysical targets.

M3 has engaged Gap Geophysics to complete the DHEM surveys on four of the deeper RC holes from the recent program. The aim of the survey is to identify any conductive units in the area that potentially represent base metal sulphide mineralisation.

EXECUTIVE DIRECTOR SIMON ELEY:

“We are very pleased to have completed the maiden RC drill program at Victoria Bore before the New Year, having comprehensively tested the initial three high-priority targets. As we await the assay results, expected to be received in early Q1 CY2022, the Company has decided to immediately commence downhole EM surveys to refine our identified mineralisation targets. Downhole EM surveys have been key in discovering and delineating prospects globally and could provide a significant tool for drillhole targeting for a follow-up program in CY2022.”

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Registered Address

Directors

Projects

West Perth, WA 6005 www.m3mining.com.au

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Figure 1: Downhole Electromagnetic Survey (DHEM) underway at Victoria Bore

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Figure 2: Victoria Bore Copper Project

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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 T +61 8 6365 5200

E info@m3mining.com.au

About M3 Mining

M3 Mining Limited (ASX:M3M) is a Perth-based mineral exploration company focussed 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.

The information in this announcement that relates to exploration results is based on and fairly represents information compiled by Jeremy Clark, a competent person who is a member of the AusIMM. Jeremy Clark is the sole director of Lily Valley International Pty. Ltd. Jeremy Clark has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 edition of the Australasian Code of Reporting of Exploration Results, Mineral Resources and Ore Reserves. Jeremy Clark consents to the inclusion in this announcement of the matters based on his work in the form and context in which it appears.