$4M secured to Accelerate Flemington and Boa Vista Drilling

• Firm commitments received to raise $4 million (gross) at $0.02 per New Share
• The raise was cornerstoned by institutional and European investor support
• Funds will accelerate drilling at Flemington Scandium Project and Boa Vista Gold Project

Australian Mines Limited ('Australian Mines' or 'the Company') has received firm commitments to raise $4.0 million (gross) through the issue of 200 million New Shares at $0.02 per share, together with one (1) attaching option (AUZOB) for every two (2) New Shares subscribed for. The 100 million Placement Options will be exercisable at $0.032 (3.2 cents) each and expire on 6 May 2027. The raise was cornerstoned by institutional and European investor support with bids well in excess of the original $3 million offer size. Proceeds from the Placement will be strategically applied to drilling at the Flemington Scandium Project, one of the world's highest-grade scandium deposits, and to expand drilling at the Boa Vista Gold Project in Brazil. The company also plans to maintain general working capital flexibility, ensuring it continues to deliver across its scandium, gold, and critical minerals portfolios.

Strong news flow expected throughout 2025 with two upscaled drilling programs, at Boa vista and Flemington.