Red Mountain Mining Ltd (ASX:RMX) Recovers Gold Assays up to 25.1g/t Au at Fry Lake Gold Project

8 September 2025

Price Sensitive Announcement $

Highlights:

• Channel sampling has identified shallow high-grade gold at the Flicka Zone with best results of:
  o 0.25m @ 11.6g/t Au from Vein 1
  o 0.6m @ 6.7g/t Au from Vein 1
  o 1m @ 13.6g/t Au from Vein 2
   including 0.35m @ 25.1g/t Au
  o 0.5m @ 17.7g/t Au from Vein 2
  o 1m @ 9.9g/t Au from Vein 3
   including 0.7m @ 13.2g/t Au
  o 1.7m @ 5.2g/t Au from Vein 3
   including 1m @ 7.9g/t Au
• High-grade gold assays from surface demonstrate the strong gold tenor of the mineralised veins and reinforce the potential for follow-up drilling at Fry Lake.
• Assay results are pending for soil and rock chip sampling completed across four target areas where 2024 soil sampling returned anomalous gold and copper results1, including samples with values of up to 17.8g/t Au and 2,420ppm Cu.

Overview:

Red Mountain Mining Limited a Gold and Critical Minerals exploration and development Company, is pleased to announce high-grade gold assay results from its exploration program at the Flicka Lake claim, part of RMX’s 100%-owned Fry Lake Gold-Copper Project in Ontario, Canada.

Channel sampling returns high grade gold results in the Flicka Zone
Channel sampling results successfully confirm RMX’s 2024 grab sampling1 and demonstrate the high tenor of gold mineralisation associated with the three main vein prospects at Flicka Lake, with all three main vein prospects returning results of > 5ppm Au (Figure 2; Table 1). High grade intervals with all samples >5ppm Au are labelled on Figure 2 and show strike continuity in the NNW direction. Table 1 shows all samples containing 0.5ppm Au, grouped into mineralised intervals, where continuous. As is noted in the table, many of the channel samples commenced and/or finished in mineralised material, many of the mineralised intervals remain open in one, or both directions. The Flicka Zone veins are a gold-dominant system (Appendix 1).

Best results include:
o 0.25m @ 11.6g/t Au & 0.6m @ 6.72g/t Au from Vein 1
o 1m @ 13.64g/t Au (including 0.35m @ 25.1g/t Au) & 0.5m @ 17.7g/t Au from Vein 2
o 1m @ 9.91g/t Au (including 0.7m @ 13.2g/t Au) & 1.7m @ 5.16g/t Au (including 1m @ 7.91g/t
Au) from Vein 3

Company Notes:

Managing Director, Lincoln Liu commented:
“A series of shallow, high-grade channel sampling results at our Fry Lake Gold Project underscores the significant potential of the tenement. Fry Lake is now primed for targeted follow-up drilling. The team at Red Mountain is grateful to have the continued support of Fladgate Exploration, who had elected to take part of their consideration in RMX shares. Having partners who are prepared to back their work with equity underscores the strength of the project, the confidence in the exploration strategy and the commitment of all parties involved.”

Full ASX Announcement: https://investorhub.redmountainmining.com.au/announcements/7144692