RED MOUNTAIN MINING LIMITED — Capital/Financing Update 2025

Jun 30, 2025

ASX ANNOUNCEMENT

1 JULY 2025

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RED MOUNTAIN FUNDED TO ACCELERATE ANTIMONY AND GOLD PROJECTS

HIGHLIGHTS

• Red Mountain has completed a successful placement, attracting heavily

oversubscribed interest from investors

• The initiative will accelerate exploration at the Armidale Antimony-Gold Project

• Red Mountain's Q3 and Q4 exploration initiatives are fully funded

Red Mountain Mining Limited (“ RMX ” or the “ Company ”) is pleased to announce that it has received firm commitments from both new and existing, professional and sophisticated investors, to raise $0.65m through a Placement of shares.

Red Mountain was pleased to secure exceptional support for the placement, anchored by three strategic investors - all of whom have positioned as Top 20 shareholders of Larvotto Resources (ASX: LRV). Their participation delivers a strong vote of confidence to Red Mountain as the Company progresses its forward exploration programs at the Armidale Antimony-Gold Project.

Recent sampling at Oaky Creek, part of the RMX’s 100% owned Armidale Antimony-Gold Project has confirmed high-grade Antimony mineralisation with rock-chip assays up to 28.34% Sb for samples containing quartz-stibnite veining, confirming the high tenor of the mineralisation, and high-grade samples have been collected up to 500m from the historical workings, offering the potential for a large, high-grade, Antimony-bearing orogenic vein system (ASX Announcement 27 June 2025).

Placement funds will be used towards accelerating the work programs at the Armidale Antimony-Gold Project. Additionally, the use of funds includes exploration at the Kiabye Gold Project in Western Australia, the Fry Lake Gold Project in Canada and working capital.

The Company will continue to inform the market of material developments.

ASX: RMX

Red Mountain Mining Ltd ACN 119 568 106 Australia and Canada based Gold and Battery metals explorer

Placement investors were offered the opportunity to acquire Red Mountain Mining fully paid ordinary shares at 0.85 cents per share, priced at a 15% discount to the last trade of $0.01 per share. The Company’s 15-day VWAP (for the purposes of 7.1A capacity calculation) is $0.011 per share.

redmountainmining.com.au

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ASX RELEASE

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One attaching quoted option (exercisable at $0.02 per share, expiring 10 May 2027) for every two Placement shares will be issued to participants, subject to the approval of shareholders. The Placement shares will settle in a single tranche using the Company’s available placement capacity (pursuant to Listing Rule 7.1 and 7.1A).

A total of approximately 76.5m new placement shares will be issued on or around 8 July 2025.

The issue of the approximately 38.2m attaching placement options under the RMXO code will be issued subject to the receipt of shareholder approval at a future General Meeting.

Xcel Capital Pty Ltd acted as Lead Manager to the capital raising. As part of consideration, 12m options will be issued on the same terms as the placement options to Xcel Capital, also subject to shareholder approval.

RMX Board and Management would like to thank Red Mountain’s lead investors, all shareholders and the Company’s advisors for their ongoing and continued support as we advance our projects.

Authorised for and on behalf of the Board,

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Mauro Piccini

Company Secretary

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 and base metal projects, located in Australia, Canada and USA. Red Mountain is progressing its Armidale Antimony-Gold Project in NSW, Kiabye Gold Project in Western Australia and Fry Lake Gold project, based in Canada.

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.

Disclaimer

In relying on the above mentioned ASX announcement and pursuant to ASX Listing Rule 5.23.2, the Company confirms that it is not aware of any new information or data that materially affects the information included in the above-mentioned announcement.

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ASX: RMX investorhub.redmountainmining.com.au

ASX RELEASE

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JOIN THE RED MOUNTAIN MINING INVESTOR HUB

Visit https://investorhub.redmountainmining.com.au for access to the Investor Hub

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ASX: RMX investorhub.redmountainmining.com.au