Infinity Mining : First Drill Program Confirms Gold Mineralisation

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News release

For Immediate Dissemination

ASX Announcement |25 March 2022

INFINITY'S FIRST DRILL PROGRAM CONFIRMS GOLD

MINERALISATION AT GREAT NORTHERN

Highlights:

• Infinity has received gold assay results for its first pass, 12 hole (724m) RC drilling program, from the Great Northern Gold Prospect near Leonora, WA.
• The program was designed to verify gold mineralisation reported in historical RC drill holes completed by Melita Mining NL in 1987-1988.
• Multiple gold intersections over 1 g/t Au were returned with individual assays up to a maximum of 10.95 g/t Au (1 m sample).
• Significant gold intercepts include:

• 1. 5 m @ 2.48 g/t Au from 37 m depth in hole GN22RC101. o 4 m @ 3.68 g/t Au from 30 m depth in hole GN22RC111.
     o Including 1 m @ 10.95 g/t Au from 32 m depth in hole GN22RC111
• Detailed 3D modelling of the geology and mineralisation to now be undertaken, which will allow Infinity to design a follow-up drilling program to test possible extensions of the gold mineralisation.
• A site visit is also planned to Infinity's Pilbara Lithium tenements next month.

Infinity Mining Limited (ASX: IMI) (the Company or Infinity) is pleased to announce that a 12-holeRC drilling program for 724 m total drilling, has been completed at the Great Northern tenement (P37-8310).The program was completed in January 2022 and gold assays were returned to the company in March 2022. Multi-elementanalyses for a selection of samples are still pending. The Great Northern tenement is part of Infinity's Central Goldfields group of projects, located in gold mining district of Leonora, WA (see Figure 1).

Infinity Mining Limited | ABN 73 609 482 180	www.infinitymining.com.au
ASX: IMI	[e-mail]

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FIGURE 1: Infinity Central Goldfields Tenement Map, showing the location of the Great Northern Tenement, around 20 km east of Leonora.

On the 10 January 2022, Infinity reported the commencement of the drilling program (see announcement here) along with a video of the commencement of the first RC hole (see Infinity website). This program was designed to verify the gold mineralisation intersected in a historical RC drilling program completed by Melita Mining NL in 1987-1988. Drill collar tables for both Infinity and Melita RC drilling programs are included below (see Tables 1 and 2). The Melita drilling program was originally reported in 1988 (see WAMEX Report A25349). A map showing the collar locations (and drill traces) of both Infinity and Melita RC drill holes, is included below as Figure 2.

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TABLE 1: RC Drill hole collar details for 2022 Infinity drilling program.

Hole_ID	GDA_EAST	GDA_NORTH	RL	Dip	Azimuth	Depth (m)	Date
Completed
GN22RC100	351587	6801331	412	-60	212	90	10/01/2022
GN22RC101	351583	6801295	430	-60	212	66	10/01/2022
GN22RC102	351573	6801284	395	-60	212	48	9/01/2022
GN22RC103	351557	6801326	389	-60	212	60	11/01/2022
GN22RC104	351547	6801312	394	-60	212	48	11/01/2022
GN22RC105	351574	6801316	398	-60	212	78	11/01/2022
GN22RC106	351564	6801304	351	-60	212	66	11/01/2022
GN22RC107	351603	6801288	394	-60	212	60	9/01/2022
GN22RC108	351598	6801281	391	-60	212	48	9/01/2022
GN22RC109	351625	6801288	388	-60	212	66	9/01/2022
GN22RC110	351617	6801270	396	-60	212	40	8/01/2022
GN22RC111	351554	6801287	386	-60	212	54	12/01/2022

TABLE 2: RC Drill hole collar details for 1987-1988 Melita drilling program.

Hole	GDA94 East	GDA94 North	Dip	Azimuth	Depth (m)
GN01	351577	6801288	-60	210	45
GN02	351584	6801303	-60	210	65
GN03	351554	6801320	-60	210	54
GN04	351621	6801278	-60	210	78
GN05	351592	6801312	-60	210	80
GN06	351559	6801283	-60	210	13
GN07	351545	6801297	-60	210	38
GN08	351553	6801275	-60	210	32
GN09	351603	6801288	-60	210	60
GN10	351521	6801340	-60	210	60
GN11	351570	6801311	-60	210	61

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FIGURE 2: Drill hole collar location map showing both Infinity and Melita drill holes, plus drill hole traces.

Results

The recent Infinity RC drilling program was successful in verifying the subsurface gold mineralisation, as reported by Melita Mining NL in Melita's Annual Report to August 1988 (WAMEX Report A25349). Assays from the Infinity RC program returned multiple gold intercepts over 1 g/t Au, with individual assays up to 10.95 g/t Au (1 m sample).

Significant gold intercepts from the Infinity RC program are reported below in Table 3, which were calculated using both 0.2 and 0.5 g/t Au cut-off grades.

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Significant intercepts from the Melita Mining ML RC drilling program (1987-88) are also included below in Table 4 for comparison. The maximum gold assay from the Melita program was 24.1 g/t Au, from 12-13 m (EOH) in hole GN06. All gold intercepts quoted within Tables 3 and 4 are weighted averages of the gold assays from 1 m RC drilling samples, using a cut-off grade of 0.2 or 0.5 g/t Au. Two different cut-off grades were applied to better define the extent of the gold mineralisation. Infinity has confidence in the Melita drilling data, as the historical results compare moderately well with Infinity's drilling results, and therefore Infinity has reported the Melita drilling results under the JORC (2012) Code and included all details of this historical program, plus the Infinity drilling program, in the attached JORC Table 1.

TABLE 3: Infinity RC drill hole gold assays intercepts.

Drill Hole	Length	Gold Grade	From	Comments
GN22RC101	5m	2.48 g/t	37m	At a 0.2 g/t cut-off
includes	2m	5.22 g/t	37m
GN22RC102	2m	1.12 g/t	25m	At a 0.5 g/t cut-off
GN22RC103	1m	2.41	51m
GN22RC105	1m	1.66 g/t	49m
GN22RC105	3m	1.21 g/t	70m	At a 0.5 g/t cut-off
GN22RC106	1m	1.49 g/t	51m
GN22RC107	3m	1.44 g/t	49m	At a 0.5 g/t cut-off
GN22RC108	3m	2.87 g/t	34m	At a 0.2 g/t cut-off
includes	1m	7.78	35m
GN22RC109	2m	1.27 g/t	47m	At a 0.5 g/t cut-off
GN22RC110	1m	1.39 g/t	28m
GN22RC111	4m	3.25	13m	At a 0.2 g/t cut-off
includes	1m	8.89 g/t	13m
GN22RC111	4m	3.68 g/t	30m	At a 0.2 g/t cut-off
includes	1m	10.95 g/t	32m
TABLE 4: Melita RC drill hole gold assays intercepts.
Drill Hole	Length	Gold Grade	From	Comments
GN01	2m	1.2 g/t	38m
GN02	4m	2.22 g/t	44m	At a 0.5 g/t cut-off
GN02	6m	5.58 g/t	58m	At a 0.5 g/t cut-off
includes	2m	10.2 g/t	60m
GN03	2m	3.77 g/t	44m
GN06	3m	13.89 g/t	10m	At a 0.5 g/t cut-off
includes	1m	24.1 g/t	12m
GN08	2m	2.2 g/t	Surface
GN09	4m	2.03 g/t	42m	At a 0.2 g/t cut-off
GN11	4m	2.31 g/t	42m	At a 0.5 g/t cut-off

Interpretation

The Infinity RC drilling program has confirmed the continuity of gold mineralisation below the historical workings at Great Northern. The significant gold intercepts from the Infinity program compare moderately well with the historical Melita program (see Tables 3 and 4). The gold mineralisation at Great Northern is hosted in quartz-veins within felsic to intermediate schists. The zones of quartz veining dip steeply to the SW,

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