MOUNT HOPE MINING LIMITED — Capital/Financing Update 2024

Dec 17, 2024

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18 December 2024

Pre-quotation disclosure

Mount Hope Mining Limited (ACN 677 683 055) ( Company ) provides the following pre-quotation disclosures and confirmations to ASX Limited ( ASX ) to satisfy the conditions for admission of the Company's fully paid ordinary shares ( Shares ) to the official list of the ASX.

All capitalised terms used in this announcement have the meaning given in the prospectus issued by the Company and lodged with ASIC on 22 October 2024 ( Prospectus ) unless otherwise stated.

1 Issue of Securities

The Company confirms that the Offers under the Prospectus have closed, and the Company has issued the following securities:

• (a) 25,000,000 Shares at an issue price of $0.20 each pursuant to the Public Offer;

• (b) 3,100,000 New Options to the Founders (or their respective nominees) pursuant to the Founder Offer;

• (c) 2,525,000 New Options to the Seed Shareholders (or their respective nominees) pursuant to the Seed Offer;

• (d) 2,000,000 New Options to the Directors (or their respective nominees), at an issue price of $0.00001 each, pursuant to the Management Offer;

• (e) 2,000,000 New Options to the Joint Lead Managers (or their respective nominees), at an issue price of $0.00001 each, pursuant to the Lead Manager Offer; and

• (f) 5,000,000 Shares to Unico Silver Limited (or its nominee) pursuant to the Vendor Offer.

2 Pro forma statement of financial position

An updated pro-forma statement of financial position based on the actual amount of funds raised under the Prospectus is set out in Schedule 1.

3 Completion of Acquisition Agreement

The Company confirms all conditions precedent have been satisfied and the share purchase agreement between the Company, Land and Mineral Pty Ltd (ACN 152 947 601) (Vendor), Fisher Resources Pty Ltd (ACN 148 160 954) (Fisher Resources) and Unico Silver Limited (ACN 116 865 546) (Unico) pursuant to which the Company has agreed to acquire 100% of the issued capital of Fisher Resources from the Vendor has completed.

4 Statement of commitments

An updated statement of commitments based on the actual amount of funds raised under the Prospectus is set out below:

Item		Final Subscription
Available funds	Amount	Proportion
Existing cash reserves1	$225,047	4.3%
Funds from the Public Offer	$5,000,000	95.7%
Total	$5,225,047	100%
Use of Funds	Amount	Proportion
Exploration on the Mount Hope Project2	$3,240,000	62.0%
Joint Lead Manager fees3	$350,000	6.7%
Expenses of the Offers4	$16,875	0.3%
Working capital5	$1,618,172	30.1%
Total	$5,225,047	100%

Notes:

Being the Company's approximate cash reserves as at 30 November 2024.

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See section 3.5 of the Prospectus for further information on the Company's proposed exploration expenditure.

Comprising:

• (a) a 6% cash fee on the total funds raised under the Public Offer, being $300,000 (excluding GST); and

• (b) a one-off cash payment of $50,000 upon successful completion of the Public Offer regardless of the amount raised under the Public Offer.

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The remaining expenses of the Offers as at the 30 November 2024. See section 8.7 of the Prospectus for further information on the expenses of the Offers.

General working capital may include wages, accounts payable, director fees, contractor fees, rent and outgoings, insurance, accounting, audit, legal, listing and registry fees, and other items of a general administrative nature. These funds may also be used for corporate expenditure items or in connection with any project, investment or acquisition, as determined by the Board at the relevant time.

5 Restricted securities

The Company confirms that the following securities will be subject to ASX imposed escrow in accordance with the Listing Rules for the periods outlined below:

Security	Number		Restriction period
Shares	6,090,000	24	months from the date of quotation
Shares	2,325,001		12 months from 23 August 2024

2

Shares	5,000,000	12 months from 11 December 2024
New Options	7,045,000	24 months from the date of quotation
New Options	1,162,501	12 months from 11 December 2024

6 Capital structure

The Company's capital structure is as follows:

Security		Number
Shares		41,250,000
New Options1,2		9,625,000
Notes:
New Options are exercisable at $0.30 and expire 3 years from the date the Company is
admitted to the Official List of the ASX. New Options issued pursuant to the Lead Manager
Offer and Management Offer were issued at $0.00001 each.
Comprising:
(a)	3,100,000 New Options issued under the Founder Offer;
(b)	2,525,000 New Options issued under the Seed Offer;
(c)	2,000,000 New Options issued under the Management Offer; and

(d) 2,000,000 New Options issued under the Lead Manager Offer.

7 No impediments

For the purposes of Listing Rule 1.3.2(b), the Company confirms that there are no legal, regulatory, statutory or contractual impediments to the Company entering its granted tenements, being EL6837, EL8058, EL8290 and EL8654, and carrying out exploration activities, such that the Company will be able to meet its expenditure commitments.

By order of the Board.

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Ben Phillips Non-Executive Chairman Mount Hope Mining Limited

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Schedule 1 – Pro forma statement of financial position

	Mount Hope	Fisher
	Mining Limited 30 June 2024	Resources Pty Ltd 30 June 2024	Subsequent events	Pro forma adjustments (Minimum)	Pro forma Minimum
ASSETS
CURRENT ASSETS
Cash and cash equivalents	-	-	225,047	4,669,602	4,894,648
Other assets	20,000	40,000	(20,000)	-	40,000
TOTAL CURRENT ASSETS	20,000	40,000	205,047	4,669,602	4,934,648
NON-CURRENT ASSETS
Exploration and evaluation expenditure	-	-	-	960,000	960,000
TOTAL NON-CURRENT ASSETS	-	-	-	960,000	960,000
TOTAL ASSETS	20,000	40,000	205,047	5,629,602	5,894,648
LIABILITIES
CURRENT LIABILITIES
Trade and other payables	12,761	-	(12,761)	-	-
Loans and borrowings	-	1,827,913	-	(1,827,913)	-
TOTAL CURRENT LIABILTIES	12,761	1,827,913	(12,761)	(1,827,913)	-
NET ASSETS / (LIABILITIES)	7,239	(1,787,913)	217,808	7,457,515	5,894,648
EQUITY
Issued capital	20,000	2	547,000	5,301,318	5,868,320
Reserves	-	-	-	404,000	404,000
Accumulated losses	(12,761)	(1,787,915)	(329,192)	1,752,197	(377,672)
TOTAL EQUITY / (DEFICIENCY)	7,239	(1,787,913)	217,808	7,457,515	5,894,648

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