RED MOUNTAIN MINING LIMITED — Capital/Financing Update 2019

Sep 4, 2019

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ASX : RMX Company Directors ASX ANNOUNCEMENT Jeremy King RED MOUNTAIN MINING LTD Lincoln Ho Robert Parton RED MOUNTAIN MINING LTD Company Secretary 5[th] September 2019 Mauro Piccini

DUE DILIGENCE PERIOD EXTENDED TO ADD COMPLEMENTARY PROJECT

Red Mountain Mining (ASX:RMX) (the Company ) advises that due diligence on the Mt Mansbridge Rare Earths project has progressed well. The Company notes that the exclusive due diligence period is due to expire on 7[th] September 2019. During the due diligence process, the Company has reviewed data on a separate, complementary specialty metals project in Western Australia ( Specialty Metals Project ).

The Specialty Metals Project is also held by the vendors of the Mt Mansbridge Rare Earths project. The Board views the Specialty Metals Project as one worthy of further investigation in the context of a restructured transaction by which both Mt Mansbridge Rare Earths Project and the Specialty Metals Project would be acquired.

To that end, it has been agreed between the parties to extend the due diligence period for Mt Mansbridge by 21 days to allow the necessary time for such a restructured transaction to be negotiated and finalised, and for in-principle regulatory approval for any agreed restructured transaction to be obtained.

It must be noted that there can be no assurance that a restructured transaction will come to fruition.

The Company will update investors as necessary.

For and on behalf of the Board Mauro Piccini Company Secretary

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