RED MOUNTAIN MINING LIMITED — Capital/Financing Update 2024

Jul 30, 2024

ASX ANNOUNCEMENT

31 July 2024

RED MOUNTAIN MINING LTD

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RMX exploration team appointed for Fry Lake Gold Project

HIGHLIGHTS

• RMX has appointed its exploration team for the maiden exploration program at Flicka Lake, Ontario.

• The sampling program is scheduled to commence mid-August and is expected to take a month to complete with assay results due in September.

• Drilling program being planned in parallel with the commencement of the sampling program.

• Project area adjacent to historic Pickle Lake gold Mining district.

Red Mountain Mining Limited (“ RMX ” or the “ Company ”) is pleased to advise that it has appointed Fladgate Exploration Consulting Corporation to conduct the maiden sampling program (ASX 22 July 2024) at its gold prospective ground at Fry Lake, Ontario. Fladgate is an experienced geological consultancy based in the area.

The initial exploration program will commence at Flicka Lake (Figure 1), one of four recently acquired packages of exploration claims considered prospective for gold, within the Meen-Dempster Greenstone Belt, Ontario, Canada (ASX 2 July 2024). The four 100% RMX owned properties, named Flicka Lake, Fry Lake Stock, Fry-McVean Shear and Relyea Porphyry or “Fry Lake Projects”, hold potential to host gold lode mineralisation based on targeting and the known deposits in the broader area.

The program is expected to commence mid-August and the first sample results may become available in September.

The follow up drilling program (subject to results) is being planned in parallel with the commencement of the sampling program to ensure efficient follow up execution.

Figure 1 : The four claim areas the make up the Fry Lake Project with Flicka Lake in the West. Datum UTM NAD83 zone 15.

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Authorised for and on behalf of the Board,

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Mauro Piccini

Company Secretary

Investors and Media

For any questions, please contact us at info@redmountainmining.com.au

About Red Mountain Mining

Red Mountain Mining Limited (ASX: RMX) is a mineral exploration and development company. Red Mountain has a portfolio of critical minerals including gold, lithium, rare earth and base metal projects, located in Canada, USA and Australia. Red Mountain is currently progressing its Fry Lake project, based in the strategic Gold district in Ontario, Canada. Other projects include the Monjebup Rare Earths Project, Nevada Lithium Projects and the Koonenberry Gold Project.

Competent Person Statement

The information in this announcement that relates to Exploration Results and other technical information complies with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code). It has been compiled and assessed under the supervision of contract geologist Mark Mitchell. Mr Mitchell is a Member of the Australasian Institute of Geoscientists and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the JORC Code. Mr Mitchell consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

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