RED MOUNTAIN MINING LIMITED — Capital/Financing Update 2021

Oct 4, 2021

Announcement Summary

Entity name

RED MOUNTAIN MINING LIMITED

Announcement Type

New announcement

Date of this announcement

Tuesday October 05, 2021

The +securities to be quoted are:

Other

Total number of +securities to be quoted

ASX +securitycode	Security description	Number of +securities tobe quoted	Issue date
New class - codeto be confirmed	Quoted Options (exercisable at $0.011, expiringon 2 October 2022)	30,829,730	05/10/2021

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

5/10/2021

Part 2 - Type of Issue

2.1 The +securities to be quoted are:

Other

2.2 The +securities to be quoted are:

New +securities in a class that is not yet quoted on ASX ("new class")

2.3c Have these +securities been offered under a +disclosure document or +PDS? Yes

2.3c.1 Date of +disclosure document or +PDS?

2/9/2021

2.3d Please provide any further information needed to understand the circumstances in which you are applying to have these +securities quoted on ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

Appendix 3B was lodged on 2 September 2021

Part 3C - number and type of +securities to be quoted (new class) where issue has not previously been notified to ASX in an Appendix

3B

New +securities
ASX +security code	+Security description
New class - code to be confirmed	Quoted Options (exercisable at $0.011, expiring on 2October 2022)
+Security type	ISIN code
Options
Issue date
5/10/2021
Will all the +securities issued in this class rank equally in all respects from the issue date?Yes

Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? No

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	13	2.81 %
100,001 and over	48	97.19 %

Options Details

+Security currency

AUD - Australian Dollar

Exercise price AUD 0.01100000 Expiry date 2/10/2022

Details of the type of +security that will be issued if an option is exercised

RMX : ORDINARY FULLY PAID

Number of +securities that will be issued if an option is exercised

1 option will convert to 1 ordinary share

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities to be quoted or provide the information by separate announcement.

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02417192-6A1048701?access\_token=8 3ff96335c2d45a094df02a206a39ff4

Issue details

Number of +securities to be quoted

30,829,730

Are the +securities being issued for a cash consideration?

No

Please describe the consideration being provided for the +securities

bonus options

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

The purpose(s) for which the entity is issuing the securities

Other

Please provide additional details

issue free Bonus Options to all parties who exercised their exercised their RMXOI options.

Part 4 - Issued capital following quotation

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
New class - code to be confirmed : Quoted Options (exercisable at $0.011, expiring on 2October 2022)	30,829,730

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
RMXAF : OPTION EXPIRING 02-OCT-2022 EX $0.011	96,215,540

Part 5 - Other Listing Rule requirements

5.1 Are the +securities being issued under an exception in Listing Rule 7.2 and therefore the issue does not need any security holder approval under Listing Rule 7.1? No

5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? No

5.2b Are any of the +securities being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes

5.2b.1 How many +securities are being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1?

30,829,730

5.2c Are any of the +securities being issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? N/A