RED MOUNTAIN MINING LIMITED — Capital/Financing Update 2021

Dec 2, 2021

Announcement Summary

Entity name

RED MOUNTAIN MINING LIMITED

Announcement Type

New announcement

Date of this announcement

Friday December 03, 2021

The +securities to be quoted are:

+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B

Total number of +securities to be quoted

ASX +securitycode	Security description	Number of +securities tobe quoted	Issue date
RMXOJ	OPTION EXPIRING 02-OCT-2022	2,166,666	03/12/2021

Refer to next page for full details of the announcement

Part 1 - Entity and announcement details

1.1 Name of entity

RED MOUNTAIN MINING LIMITED

We (the entity named above) apply for +quotation of the following +securities and agree to the matters set out in Appendix 2A of the ASX Listing Rules.

1.2 Registered number type ABN

Registration number 40119658106

1.3 ASX issuer code RMX

1.4 The announcement is

New announcement

1.5 Date of this announcement

3/12/2021

Part 2 - Type of Issue

2.1 The +securities to be quoted are:

+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B

Previous Appendix 3B details:

Announcement Date andTime	Announcement Title	Selected Appendix 3B to submit quotationrequest
02-Sep-2021 18:31	New - Proposed issue of securities -RMX	A non-+pro rata offer of +securities under a+disclosure document or +PDS

2.3a.2 Are there any further issues of +securities yet to take place to complete the transaction(s) referred to in the Appendix 3B?

No

Part 3A - number and type of +securities to be quoted where issue has previously been notified to ASX in an Appendix 3B

Issue Details

ASX +security code and description

RMXOJ : OPTION EXPIRING 02-OCT-2022

Issue date

3/12/2021

Distribution Schedule

Provide a distribution schedule for the new +securities according to the categories set out in the left hand column including the number of recipients and the total percentage of the new +securities held by the recipients in each category.

Number of +securities held	Number of holders	Total percentage of +securities heldFor example, to enter a value of 50%please input as 50.00
1 - 1,000		%
1,001 - 5,000		%
5,001 - 10,000		%
10,001 - 100,000		%
100,001 and over		%

Issue details

Number of +securities to be quoted

2,166,666

Are the +securities being issued for a cash consideration?

No

Please describe the consideration being provided for the +securities

Issue free bonus options to directors that exercised their RMXOI options (approved by shareholder at the AGM on 18 November 2021)

Please provide an estimate (in AUD) of the value of the consideration being provided per +security for the +securities to be quoted

0.000000

Any other information the entity wishes to provide about the +securities to be quoted

Part 4 - Issued capital following quotation

Following the quotation of the +securities the subject of this application, the issued capital of the entity will

comprise:

(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +securities (total number of each +class of +securities quoted on ASX following the +quotation of the +securities subject of this application)

ASX +security code and description	Total number of+securities on issue
RMX : ORDINARY FULLY PAID	1,464,458,302
RMXOJ : OPTION EXPIRING 02-OCT-2022	129,211,936

4.2 Unquoted +securities (total number of each +class of +securities issued but not quoted on ASX)

ASX +security code and description	Total number of+securities on issue
RMXAE : OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES	35,000,000