Stunning High Gold and Copper Soil Results Opens Up Potential New Gold and Copper Region

Red Mountain Mining Limited (“RMX” or the “Company”) is pleased to advise that it has received geochemical results for 284 soil samples collected during September from the Company’s 100%-owned Flicka Lake prospect in Ontario, Canada. The soil sampling was undertaken in parallel with a rock grab sampling program (refer ASX announcement: 6 November 2024). Samples were taken from around 400 locations within the Flicka Lake claims and 91 rock grab samples and 284 soil samples were collected and submitted for multielement geochemical analysis.

HIGHLIGHTS

• Exceptionally high gold assay results from Flicka Lake in Canada received potentially supporting the discovery of a new Gold and Copper Region
  
• In soil Gold values returned from two areas include:
  • 17.8ppm (17.8 g/t Au), 6.32ppm (6.32 g/t Au) and 1.11ppm (1.11 g/t Au) returned from North of the project area.
  • 0.816ppm (0.816 g/t Au) returned for a single sample from the northwest of the claims.
• These results suggest potential for a large concealed high grade vein-hosted gold mineralisation similar to that seen at the Flicka Zone
• Results from the north and northwest of the Flicka Lake project area indicate the potential for near-surface high grade quartz-vein hosted gold mineralisation
• Polymetallic copper-rich soil anomalies with values of up to 2420ppm Cu indicate the potential of Flicka Lake for volcanic-hosted base metal sulfide mineralisation, particularly in the northern part of the tenement
• Potential high grade Copper discovery provides material potential exploration upside given the program was focused on Gold
• The Company will follow up these positive gold and base metal results and the previously identified Flicka Zone prospect with further exploration as soon as practically possible

High Gold in Soil Values Highlight New Gold prospects within the Flicka Lake Claims

Four soil samples from the northern portion of the project area returned exceptionally high gold values of contained 17.8ppm (17.8 g/t Au), 6.32ppm (6.32 g/t Au) and 1.11ppm (1.11 g/t Au) gold. A further sample from the northwest of the project area contained 0.816ppm gold (0.816 g/t Au).

Highly Significant Copper Results

19 samples contained over 200ppm Cu, with peak values of 2420ppm and 1630ppm. The highest copper value of 2420ppm was returned for sample 1291262, located approximately 400m north of the Flicka Zone. Copper results (see Table 1 and Figure 2).

The gold values returned for the soil samples are shown on Figure 1 with 22 samples, listed on Table 1. As outlined in RMX’s ASX announcement of 30 October 2024, the rock and soil sampling program was designed to test ten orogenic gold target zones defined using available geological and geophysical data for the Flicka Lake tenement. Soil sampling was undertaken primarily in areas that lacked surface outcrop, where rock sampling was not possible.

Figure 1: RMX soil gold results for the Flicka Lake project. Values for samples with > 0.1ppm Au are shown. The Fry Lake #9 prospect lies outside of the RMX mineral claims area.

The Company’s geochemical results are consistent with the results of detailed soil sampling from the high- grade Flicka Zone reported by Troon Ventures in their 2003 Assessment Report. Troon reported isolated values of up to 1.19ppm gold (1.19 g/t Au) immediately adjacent to mineralised quartz veins¹.

RMX’s results from the north and northwest of the Flicka Lake project area indicate the potential for near- surface high grade quartz-vein hosted gold mineralisation, likely similar in style and tenor to the mineralisation rock chip sampled by RMX at the Flicka Zone (refer ASX Announcement 6 November 2024).

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