RED MOUNTAIN MINING LIMITED — Capital/Financing Update 2020

Jul 26, 2020

ASX ANNOUNCEMENT

27 July 2020

RED MOUNTAIN MINING LTD

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Due Diligence on Mt Maitland Gold Project Successfully Completed

Red Mountain Mining Limited ( RMX or the, Company ) is pleased to advise that it has satisfactorily completed its due diligence on the Mt Maitland Gold High Grade Gold Project.

As announced on 6 July 2020, settlement of the acquisition is conditional on the standard Ministerial consent in accordance with the WA Mining Act. Consent has been applied for.

The Company is in the final stages of compilation and digitisation of historical exploration data relating to the project as part of the process of ranking the numerous drill-ready gold targets at Mt Maitland. RMX anticipates updating the market on its planned exploration programme at Mt Maitland in the near term.

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Figure 1: Mt Maitland Project Area

Authorised for and on behalf of the Board,

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Mauro Piccini, Company Secretary

Web: www.redmountainmining.com.au

ASX: RMX