Eagle Mountain Mining Limited provided an update on its 100% owned Oracle Ridge Copper Mine Project (Oracle Ridge, or the Project) in Arizona, USA. The Company's technical team has recently completed further mapping and sampling across the Oracle Ridge mine area. Key goals of this program included: Reconnaissance mapping near historic mines along both the western and southern flank of Marble Peak, the main topographic feature at Oracle Ridge; Improve the understanding of the surface expression of the mineralisation intersected in the drilling at the Talon; and Constrain the geological model by detailed mapping of the Leatherwood-Sediments contact at surface in the Talon area.

The key outcomes of the program are described below. Reconnaissance Mapping and Sampling of Historical Mines: The Marble Peak area contains several historical workings in the vicinity of the Oracle Ridge mine portals. Two groups of workings which were never previously mapped and sampled in detail include: The Hartman-Homestake mine, situated two kilometres to the west of the portals by road and 500 metres northwest of the current Mineral Resource Estimate (MRE); and The Stratton area, located approximately 600 metres to the west of the southern Talon area.

Hartman-Homestake Mine: Limited information is available regarding historical production from the Hartman-Homestake mine which is believed to have been operational in the early decades of last century. A recent review of historical reports by the Company's technical team highlighted the existence of underground workings covering an area of approximately 100 by 100 metres. Also, historical samples reported on the underground maps showed encouraging base metals values.

Preliminary observations from a reconnaissance visit highlighted the following encouraging results: The local geology includes skarn-altered Abrigo Formation, a geological unit hosting significant Cu- Ag-Au mineralisation at Oracle Ridge; Underground exposures show abundant skarn alteration and copper mineralisation which appears to be structurally controlled. The key feature of the area is a northeast-southwest trending fault which seems to focus the mineralisation. This structure is interpreted to be a southwestern splay of the regionally significant Geesaman Fault to the north.

20 rock-chip samples collected across the underground workings returned several high-grade assays. Unlike the main Oracle Ridge mine area, the copper-silver mineralisation shows a strong association with lead and zinc and low gold values. This observation suggests that the mineralising system at the Hartman- Homestake is somewhat different from the Oracle Ridge mine and is likely a result of having been emplaced in a lower temperature hydrothermal environment.

Results from the reconnaissance mapping are considered highly encouraging and follow-up work is being planned, including: Review and compilation of historical data, such as available reports, geological maps and historical rock-chip and channel samples; Detailed mapping and sampling, including channel samples across key mineralised areas; Geological interpretation and 3D modelling to define viable drill targets; Underground survey of the workings; and Eventual drilling from surface. Should the results of the above programs be favourable, a drilling campaign will be designed to test the area. The Hartman-Homestake mine is subject to seasonal flooding and therefore the planned work will be carried out when water levels are sufficiently low to ensure good exposure and the safety of the Company's personnel.

The Stratton area is situated approximately 600 metres to the west of the Leatherwood mine at the Southern Talon. The current reconnaissance mapping covered the eastern-most adits in this group of workings as well as outcropping mineralisation in the vicinity. All rock-chips in the area returned copper values exceeding 1%.

Assay results show a chemistry similar to Oracle Ridge, with copper and silver associated with gold rather than lead and zinc, as observed at the Hartman-Homestake mine. This is consistent with the mineralisation defined in the current MRE model. Southern Talon Surface Mapping and Sampling: The Talon mapping successfully defined the location of the Leatherwood-Sediments contact, with this additional constraint applied to the geological model underpinning the recently announced MRE (refer to ASX announcement dated 6 October 2022).

During mapping, several samples were collected which confirmed the extent and tenor of mineralisation at the Talon. These results further support the geological interpretation that the mineralisation intersected in drilling at the Talon daylights to the south, southeast and east.