RED MOUNTAIN MINING LIMITED — Capital/Financing Update 2021

Oct 26, 2021

ASX ANNOUNCEMENT RED MOUNTAIN MINING LTD

27 October 2021

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Drilling Set to Commence at Mt Mansbridge Project

• Mt Mansbridge Project

  • Earthworks nearing completion with drilling contractors arriving on-site

  • High impact +1,200m maiden RC drilling program set to commence targeting Rare Earth Elements (REE’s), Cobalt and Nickel-Copper-Cobalt-PGE’s.

Red Mountain Mining Limited ( RMX, the Company ) (ASX: RMX ) is pleased to advise that preparatory earthworks at its 100% owned Mt Mansbridge east Kimberleys project are nearing completion. An RC drilling contractor has been secured and is set to commence drilling upon completion of the earthworks later this week. The 1,200m RC drilling program will test a number of Rare Earth Element (REE), Cobalt and Nickel-Copper-Cobalt-PGE targets at the project. The drilling program will be undertaken under supervision by members of the Tjurubalan, the traditional owners.

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Figure 1 – Drilling preparations at Mt. Mansbridge

Authorised for and on behalf of the Board,

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Mauro Piccini, Company Secretary

Web: www.redmountainmining.com.au

ASX: RMX