• Significant increase in Flemington Scandium Mineral Resource Estimate
• Completed initial auger drilling program at Jequie North and Jequie South in Brazil
• Progressed exploration activities at Resende Project in Brazil

Australian Mines Limited ('Australian Mines' or 'the Company') is pleased to provide its Quarterly Activities Report for the period ending 31 December 2024. The key highlights include a significant increase in the Flemington Scandium Mineral Resource Estimate, initial drilling at its Jequie projects in Brazil, and exploration progress at the Resende Project in Brazil. At Flemington, the updated 2025 High-Grade (JORC 2012) Scandium Mineral Resource Estimate increased significantly from 3.7 mt to 6.3 mt, with similar scandium grades of 458 ppm and 446 ppm respectively. The company is also advancing its metal hydride project by further refining the composition of the MH-May24 metal hydride.At Jequie in Brazil, the company completed an initial auger drilling programme at Jequie North and Jequie South. The assay results from this drilling are pending and will be released to the market once received. The company has also rationalised the Jequie project tenement portfolio, retaining the most prospective, high priority areas and targets.At the Resende Project in Brazil, the company completed a systematic soil grid sampling programme over the 7 drainage basins prospective for Rare Earth Elements (REE). The analysis of the soil grid sampling programme identified two follow-up areas for further exploration. The company also intends to carry out an initial diamond drilling programme to intersect near surface fresh greisen, as well as an auger drilling programme over the prospective REE areas.The company ended the quarter with a cash balance of $2,464,787.