RED MOUNTAIN MINING LIMITED — Share Issue/Capital Change 2022

Sep 1, 2022

ASX ANNOUNCEMENT

RED MOUNTAIN MINING LTD

2 September 2022

==> picture [595 x 72] intentionally omitted <==

Expiry of Quoted Options (RMXOJ)

Red Mountain Mining Limited ( RMX or the, Company ) advises that it has 129,211,936 quoted options exercisable at $0.011 are due for expiry on 2 October 2022 ( RMXOJ Options ).

The Company provides the following information in relation to the RMXOJ Options:

• The number of RMXOJ Options to which this notice applies is 129,211,936.

• Each RMXOJ Option entitles the holder to receive on exercise of the option, one fully paid ordinary share in the Company. If all options were exercised, 129,211,936 fully paid ordinary shares would be issued.

• The exercise price of each RMXOJ Options is $0.011.

• The due date for payment of the exercise price is 5pm (WST) on 30 September 2022.

• If payment is not received by 5pm (WST) on 30 September 2022, the RMXOJ Options will expire with no value and no further entitlement will exist.

• Official quotation of RMXOJ Options will cease on 26 September 2022 .

• The latest available market sale price on the Australian Securities Exchange Limited before the date of this notice for fully paid ordinary shares in Red Mountain Mining Limited (ASX: RMX) being the underlying securities to which the RMXOJ Options relate to was $0.007 on 31 August 2022.

• The highest and lowest market price for fully paid ordinary shares in RMX being, the underlying securities to which the RMXOJ Options relate to during the three months immediately before the date of this notice were as follows:

• Highest Price: $0.007 on 31 August 2022;

• Lowest Price: $0.004 on 30 June 2022.

• No underwriting agreement exists in respect of the RMXOJ Options.

If Optionholders have any queries in relation to exercising their RMXOJ Options, please contact the Company on (08) 6559 1792.

Authorised by the Board of RMX,

==> picture [95 x 47] intentionally omitted <==

Troy Flannery Chairman

Web: www.redmountainmining.com.au

ASX: RMX

==> picture [595 x 85] intentionally omitted <==

Appendix A: Quoted Option Expiry Timetable

Event	Time Limits	+Business day	Date
ASX Announcement.	not more than 30+business days before the conversion or expiry date and at least 20 +business days before the conversion or expirydate	0	2 September 2022
+Quotation of+convertible securities ends at close of trading, unless there is a later maturitydate.	4+business days before the conversion or expiry date	16	26 September 2022
+Quotation of the+underlying securities quoted on a+deferred settlement basis, if the+convertible securities are “in the money” and the conversion ratio is fixed.	3+business days before the conversion or expiry date	17	27 September 2022
Conversion date or options expire.		20	30 September 2022
Last day for entity to confirm to ASX all information required by Appendix 2A.	not more than 5+business days after the conversion or expirydate	25	7 October 2022

ASX: RMX Web: www.redmountainmining.com.au