MOUNT HOPE MINING LIMITED — Capital/Financing Update 2024

Dec 22, 2024

ASX ANNOUNCEMENT

Released 23 December 2024

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COMMENCEMENT OF TRADING Mount Hope Mining Ltd commenced trading on 20th December 2024, following a highly successful A$5m IPO.

Mount Hope Mining Limited (“ MHM ” or the “ Company ”) is pleased to advise that it has commenced trading on the Australian Securities Exchange (“ ASX ”) under the code “ MHM ” as the final listing of calendar year 2024.

Highlights

ASX Listing – Mount Hope Mining commenced trading on ASX under code: MHM

$5m Raised - follows a successful, oversubscribed A$5 million Initial Public Offering (“ IPO ”)

Key Asset – The Mount Hope Project is a 175km[2] tenement package in the prolific Cobar basin

Land Access – Land Access agreements in place prior to listing with fieldwork already commenced

Commodity Suite – The Mount Hope Project is prospective for copper-gold & silver-lead-zinc

Significant Leverage – Market Capitalisation of $7.4m and Enterprise value of $2.6m at listing

Mount Hope Mining Managing Director & CEO Fergus Kiley commented:

"We are thrilled to announce the successful completion of Mount Hope Mining's oversubscribed $5 million IPO, a remarkable achievement in what has been the most challenging IPO market. The strong backing from Australian and international institutional investors, sophisticated investors, family offices, and retail participants is a testament to the exceptional quality of the Mount Hope Project portfolio and its immense potential. MHM would like to welcome all new shareholders who participated in the IPO financing to the register.

Our flagship Mount Hope Project is located in the prolific Cobar Basin, renowned for its dense concentration of base metal mining and recent high-profile transactions, including the US$1.1 billion sale of the CSA Mine in 2023[(1)] . These developments underscore the strategic value of this world-class region, and we are confident that Mount Hope's highly undervalued portfolio, with an enterprise value of just $2.6 million, has the potential to deliver exploration success.

With four advanced targets progressing towards high-impact drill programs, Mount Hope Mining offers an outstanding opportunity for leverage to exploration success in a globally recognised mining jurisdiction. This milestone is only the beginning, and we look forward to creating substantial value for our shareholders as we advance our ambitious exploration strategy."

(1) 16-June-2023: MAC: Metals Acquisition Limited Closes Purchase of the CSA Copper Mine

mounthopemining.com.au info@mounthopemining.com.au

Mount Hope Mining Limited ASX: MHM ACN 677 683 055

85-87 Forrest Street Cottesloe WA 6011

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About The Mount Hope Project:

MHM holds a 100% interest in the Mount Hope Project, which comprises four exploration tenements that cover a 175km[2] landholding in the prolific Cobar basin in central New South Wales. The Mount Hope Project is located in the southern portion of the basin, approximately 148km south of Cobar in the central west of New South Wales (refer to Figure 1 below).

The tenements are adjacent to the historic Mount Hope copper mine which produced 75kt of ore grading 10.5% Copper between 1878 and 1919[(2)] . The tenement package is also proximal to other historic mines such as the Mt Solitary and Mt Solar gold mines and the Comet & Great Central copper mines.

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Figure 1 – Map of Cobar Project
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The Company aims to identify Cobar-style mineralisation across five (5) key prospects at the Mount Hope Project (Mount Hope East, Black Hill, Main Road East, Little Mt Solitary and the Mt Solitary to Mt Solar trend). Cobar-style deposits are typically high-grade, structurally controlled ore bodies known for their polymetallic nature and economic significance.

The Company’s exploration program will focus on identifying zones of mineralisation throughout its project by using modern exploration tools such as geophysical surveys, geochemical sampling and drilling.

(2) 18-December-2024: MHM: Prospectus

ASX Announcement Released: 23 December 2024

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Work Programs:

The IPO, which raised a total amount of $5 million (before costs), will enable the Company to:

• Complete systematic field mapping to constrain the local geology of target areas

• Complete confirmatory and expansion soil geochemical sampling:

• Soil Sampling of targets will confirm and refine systematic target definition

• Complete geophysical surveys across advanced targets

• The project remains systematically under-explored via modern geophysical techniques

• The company will use funds to execute electromagnetic and induced polarization surveys across advanced target areas

• Complete an initial drill program at the company's four advanced target areas

Mount Hope Mining looks forward to updating shareholders as its planned work programs progress.

Corporate Directory

Non-Executive Chairman – Ben Phillips

Managing Director & CEO – Fergus Kiley

Non-Executive Director – Todd Willims

Company Secretary & CFO – Paul Kiley

Contact

Mount Hope Mining Ltd

ACN: 677 683 055 www.mounthopemining.com.au info@mounthopemining.com.au Suite 10, 85 Forrest Street, Cottesloe WA 6012

This announcement is authorised for release by the Board of Mount Hope Mining Limited.

Investor and media relations enquiries

Fergus Kiley | Managing Director & CEO info@mounthopemining.com.au

23 December 2024 | COMMENCEMENT OF TRADING

ASX Announcement Released: 23 December 2024

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