Aurumin : Mt Dimer 2022 Regional Exploration Activity - Iron Ore

11 February 2022 onlyASX:AUN

ABOUT AURUMIN

Aurumin Limited (ACN 639 427 099)

(Aurumin or Company) is an

Australian gold exploration company with advanced projects.

useBOARD & MANAGEMENT

Piers Lewis

Non Executive Chairman

Brad Valiukas

Managing Director

personalSh un Day

Non Executive Director

Darren Holden

Non Executive Director

Mark Rowbottam

Manager - Corporate Development

Shane Tomlinson

Manager - Exploration

CAPITAL STRUCTURE

• 99.2 million shares

• 13.5 million options

PROJECTS
For
•	Mt Dimer
•	Mt Palmer
•	J hnson Range
•	Karramindie

CONTACT US

1. [phone]

1. [e-mail]

1. www.aurumin.com.au

1. PO Box 446, Subiaco WA 6904

MT DIMER 2022 REGIONAL EXPLORATION ACTIVITY TO INCLUDE IRON ORE

Aurumin Limited (ASX: AUN) ("Aurumin" or "the Company") is pleased to announce that exploration targeting iron ore will be included as part of 2022 regional exploration activity at its 100% owned Mt Dimer Project. Located 120km north-east of Southern Cross in Western Australia, Mt Dimer is a historical high-grade production centre, having produced over 125,000 ounces of gold, including open pit and underground production of 600,000 tonnes @ 6.4 g/t Au.

The region around the Mt Dimer Project is a well know producer of high- grade Direct Shipping Iron Ore (DSO) with mining having occurred at the Carina deposit, located to the south-east of the Mt Dimer Mining Centre (Figure 1). In addition to Carina, exploration along strike has identified the Chameleon and Hunt Range DSO deposits.

Aeromagnetic imagery indicates multiple Banded Iron Formation (BIF) units within Aurumin's Mt Dimer Project area to be the same BIF units which host known iron ore deposits. Historical data collected from WAMEX shows some of these BIF units have high-grade (>58% Fe) rock chips, within Aurumin's tenure, that have not been fully tested by drilling.

Aurumin has commenced 2022 exploration at Mt Dimer with a soil sampling programme across multiple targets, targeting gold and utilising the CSIRO Ultrafine sampling method (assays outstanding). In addition we have commenced drone reconnaissance on selected iron ore targets and for general access purposes.

Managing Director, Brad Valiukas, commented:

"Exploration this year at Mt Dimer will include more regional activity, as we step out from the historical mining centre.In some locations gold and iron ore exploration activity will be complementary and we are pleased to add this extra dimension to Mt Dimer for 2022.

"Regional exploration activity will run in parallel with near mine works and we will continue to make progress around our known, high-grade, gold deposits.

"The Sandstone acquisition remains in progress and will be a significant step for the Company, with an existing 784koz Au Mineral Resource and substantial infrastructure. Our immediate priority at Sandstone will be defining the underground potential of the Shillington - Two Mile Complex."

Aurumin Limited

11 February 2022

ASX:AUN

MT DIMER IRON ORE TARGETS onlyuse personalFor

Figure 1 - Mt Dimer project area showing DSO iron ore target areas with historical rock chip sampling and drill collars (targeting iron ore) (refer to Annexure B for data sources) underlain by GSWA aeromagnetic 40m merged image.

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11 February 2022

ASX:AUN

For personal use only

The region around the Mt Dimer Project is a well known producer of high-grade Direct Shipping Iron Ore (DSO) where mining at the Carina deposit, located to the south-east of the Mt Dimer Mining Centre (Figure 1), commenced in 2011. In addition to Carina, exploration along strike has identified the Chameleon and Hunt Range DSO deposits.

Aeromagnetic imagery indicates multiple Banded Iron Formation (BIF) units within Aurumin's project area to be the same BIF units which host known iron ore deposits. Historical data collected from WAMEX shows some of these BIF units have high-grade (>58% Fe) rock chips, within Aurumin's tenure, which have not been fully tested by drilling, particularly in areas where BIF units are either undercover or have very limited outcrop.

In the northern area of the project magnetic anomalism indicates multiple undercover BIF units that are the continuation of along strike of high-grade (>60% Fe) outcropping BIF rock chip samples located to the north. The magnetics also indicate folding and faulting of interpreted BIF units which is encouraging for potential hypogene (high-grade) mineralisation.

Aurumin plans to acquire high resolution magnetics to improve targeting and incorporate ground and drone reconnaissance programmes in parallel with regional gold exploration programmes. Targets will be assessed and further exploration conducted once additional information is compiled and prospectivity assessed.

Authorisation for release

The Aurumin Board has authorised this announcement for release.

For further information please contact

Brad Valiukas

Managing Director

1. [phone]

1. [e-mail]

Competent Person Statement

The information in this announcement that relates to exploration results, data quality and geological interpretations for the Mt Dimer Project is based on information compiled by Shane Tomlinson, a Competent Person who is a Member of the Australian Institute of Geoscientists and a full-time employee of Aurumin Limited. Mr Tomlinson 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 Tomlinson 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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To keep abreast of the Company's latest announcements and developments available to investors please subscribe to our mailing list at https://aurumin.com.au/contact/ .

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11 February 2022

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Annexure A - Southern Cross Projects Location Map - Mt Dimer, Mt Palmer and Johnson Range

For personal use only
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Annexure B - JORC Code, 2012 Edition - Table 1

For personal use only

Mt Dimer Project Area - Historical Iron Ore Rock Chip Samples

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria

JORC Code explanation

Commentary

Sampling

• Nature and quality of sampling (eg

• Sporadic rock chip samples were collected by historical

techniques

cut channels, random chips, or

exploration companies.

specific specialised industry standard

• The locations appear to be restricted to outcropping BIF

measurement tools appropriate to the

minerals under investigation, such as

with

potential

for

Direct Shipping

Ore (DSO)

mineralisation. That is BIF showing signs of hematite and

down hole gamma sondes, or

goethite mineralisation.

handheld XRF instruments, etc).These

examples should not be taken as

• All rock chip data used was taken from WAMEX reports;

limiting the broad meaning of

files A67145, A76464, A79425, A79655, A79975, A84365,

sampling.

A88125,

A91315,

A94781,

A96312,

A99009,

A103106,

• Include reference to measures taken

A103460 and A106590.

to ensure sample representivity and

the appropriate calibration of any

measurement tools or systems used.

• Aspects of the determination of

mineralisation that are Material to the

Public Report.

• In cases where 'industry standard'

work has been done this would be

relatively simple (eg 'reverse

circulation drilling was used to obtain

1 m samples from which 3 kg was

pulverised to produce a 30 g charge

for fire assay').In other cases more

explanation may be required, such as

where there is coarse gold that has

inherent sampling problems.Unusual

commodities or mineralisation types

(eg submarine nodules) may warrant

disclosure of detailed information.

Drilling

• Drill type (eg core, reverse circulation,

• No drill results have been used.

techniques

open-hole hammer, rotary air blast,

•

Drill

collar positions

used

were taken

from

WAMEX

auger, Bangka, sonic, etc) and details

drillhole database.

(eg core diameter, triple or standard

tube, depth of diamond tails, face-

sampling bit or other type, whether

core is oriented and if so, by what

method, etc).

Drill sample

• Method of recording and assessing

•

NA

recovery

core and chip sample recoveries and

results assessed.

• Measures taken to maximise sample

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