Aurumin Limited (ASX: AUN) ('Aurumin' or 'the Company') is pleased to announce assay results have been returned for a third hole of the recently completed Reverse Circulation (RC) and Diamond Drilling programme at its 100% owned Central Sandstone Gold Project.

Drilling seeks to both extend and better define the Company's previously reported inferred underground Mineral Resource Estimate (MRE) of 14.2Mt @ 1.1g/t Au for 500koz Au at Two Mile Hill. 1 Hole SN_TM_RD_22_0003 returned an intersection of 352.8m @ 1.5g/t Au from 267.2m down hole. Mineralisation continued beyond that interval with a further 145.2m @ 0.5g/t Au returned. Highlights within the larger interval include:

Hole SN_TM_RD_22_0003 was drilled using an RC pre-collar to 121m depth. Below 121m drilling was by NQ2 diamond core. The western tonalite contact was expected to be intercepted at approximately 590m down hole, however despite significantly extending the hole, drilling did not define the western contact and remained in altered and mineralised tonalite when the hole ended at the final down-hole depth of 765.2m

Aurumin's Managing Director, Brad Valiukas, commented: 'This is another great result and, along with the previously released diamond results, continues to add to the picture at Two Mile Hill. 'Along with the recently completed RC drilling at Shillington, this sets us up to now model the Shillington and Two Mile Hill deposits as a single geological complex, with known grade in the banded iron formation, mafic and tonalite. 'We anticipate results for the final diamond hole and RC pre collars shortly. We look forward to releasing those results and commencing an updated resource model directly after.'

DRILLING AND GEOLOGY SUMMARY

Drilling seeks to extend and better define the Company's previously reported inferred underground Mineral Resource Estimate (MRE) of 14.2Mt @ 1.1g/t Au for 500koz Au at Two Mile Hill, with a focus on the tonalite intrusion between 250m and 500m below surface.1 (see Figure 1) The mineralisation at Two Mile Hill is hosted in three geological domains. The majority of the Two-Mile Hill resource occurs within a tonalite intrusion. Mineralisation also occurs within banded iron formation (BIF) beds, and within the basalts that host the tonalite intrusion.

The tonalite intrusion is broadly oblate in plan, dipping ~78-degree towards 281-degree. Tonalite hosted mineralisation occurs predominantly as discreet free gold occurrences within a sheeted/stockwork array of narrow quartz veins. The orientation of the sheeted vein array is variable but is on average orthogonal to the estimated axis of the tonalite, with the axis of the tonalite plunging approximately 78-degree towards 281-degree. There is significant variability in the dip direction but on average veins dip shallowly to the north-east. Veins range from 2mm to 900mm but are typically in the order of 20-80mm width. The drilling is designed to test the Two Mile Hill tonalite volume with drilling approximately perpendicular to the mineralised sheeted vein array.

The zone around the contact between the tonalite and mafic domains is considered an area of interest as it may be preferentially mineralised. SN_TM_RD_22_0003 did not reach the western contact and was ended in tonalite at 765.2m. This result extends the hanging wall contact of the tonalite unit at least 60m to the west. Alteration, veining, base metal sulphides and minor visible gold were still evident, with assay results confirming Au mineralisation persists within the vein array at these depths. The shape of the tonalite intrusive, and therefore the potential mineralised volume remains unclear at depth as angles drilled (east to west) to date provide limited visibility on the Eastern tonalite contact at depth. Composite assays have been bracketed around the main coherent zones of mineralisation consistent with the bounds of the current resource and original expected tonalite contact. Results beyond this point are at this stage grouped in a separate domain. Assays for diamond drill hole SN_TM_RD_22_0001 remain outstanding from the assay laboratory. This hole was drilled north of all previous diamond drilling at Two Mile Hill. Results from the outstanding hole are not expected to extend the current resource, noting the alteration logged, reduced occurrences of visible gold and earlier than expected hangingwall contact intersection, suggesting the hole is drilled on the periphery of the tonalite hosted mineralised system.

The current round of drilling is increasing the density of information and assisting the definition controls on grade distribution which will assist in remodelling, evaluation and targeting of further definition drilling. As more drilling and structural information at depth is acquired, a more complete understanding of potential mineralisation domains and geometry will allow for better geological interpretation and model generation. Aurumin will be in a position to better discuss true widths of mineralisation once data density and knowledge of controls is increased. The tonalite itself is approximately 80m thick

Contact:

Brad Valiukas

Managing Director

T: +61 (8) 6555 2950

E: admin@aurumin.com.au

W: www.aurumin.com.au

Competent Person Statements

The information in this announcement that relates to exploration results, data quality, geological interpretations and mineral resources for the Central Sandstone Project and Greater Sandstone Project were first released in the Company's announcements 16 December 2021, 25 March 2022, 28 April 2022, 2 May 2022, 9 June 2022, 21 June 2022, 11 July 2022, 11 August 2022 and 26 August 2022. The Company confirms that it is not aware of any new information or data that materially affects the information included in the announcement and confirms that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The information in this announcement that relates to new exploration results, data quality and geological interpretations for the Central Sandstone Project is based on information compiled by Peter Aldridge, a Competent Person who is a Member of the Australian Institute of Geoscientists and a full-time employee of Aurumin Limited. Mr Aldridge has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Aldridge consents to the inclusion in this announcement of the matters based on this information in the form and context in which it appears.

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