Eagle Mountain Mining Limited provided an update on its 100% owned Oracle Ridge Copper Mine Project in Arizona, USA. The Company continues to drill from surface at Oracle Ridge. Drilling is still focused on the Talon area with a few holes also testing peripheral extensions to the west and north of the mine.

Results for 17 resource expansion holes have been received which continue to support the potential for growth of the Company's MRE at a 1% copper cut-off grade. Further assays have been received from drilling in the eastern Talon (Figure 1), a target that was sparsely drilled by previous explorers. Results include: · 8.1m at 2.28% Cu, 18.07g/t Ag and 0.40g/t Au and 8.0m at 2.98% Cu, 27.46g/t Ag and 0.33g/t Au across two zones in drill hole WT-22-143.

This is the northern part of the eastern Talon target with assays pending from three nearby holes. 9.2m at 2.20% Cu, 35.72g/t Ag and 0.45g/t Au in drill hole WT-22-140 to the south of WT-22-143. The drill hole intersected a second, lower grade mineralised zone spatially consistent with that observed in WT-22-143.

WT-22-130, WT-22-133, WT-22-136, WT-22-142 and WT-22-147 returned the following zones above the reporting cut-off (1% Cu). Results include: o 1.6m at 2.04% Cu, 16.10g/t Ag and 0.33g/t Au (WT-22-130) o 3.5m at 1.59% Cu, 14.40g/t Ag and 0.32g/t Au (WT-22-133) o 3.5m at 1.71% Cu, 19.92g/t Ag and 0.33g/t Au (WT-22-136) o 2.2m at 2.23% Cu, 36.01g/t Ag and 0.67g/t Au (WT-22-142) o 1.6m at 3.17% Cu, 28.30g/t Ag and 0.38g/t Au (WT-22-147). The Company has also completed a surface mapping and sampling program across outcropping mineralisation in the eastern Talon.

Results will be incorporated into the geological model and used to improve confidence in the upcoming MRE. Southern Talon Drilling in the southern Talon returned: · 9.9m at 1.62% Cu, 12.07g/t Ag and 0.35g/t Au and 8.8m at 1.55% Cu, 12.77g/t Ag and 0.45g/t Au in drill hole WT-22-141 (Figure 2). This is the southernmost hole completed at Oracle Ridge in the current drilling program.

Results are approximately 80 metres from topography to the south. Strong mineralisation in outcrop and historical workings at the nearby Leatherwood mine firmly suggests this mineralisation is continuous between WT-21-141 and surface. 11.8m at 1.35% Cu, 21.29g/t Ag and 0.35g/t Au in drill hole WT-22-139.

Mineralisation is localised near the Leatherwood contact and shows thickness consistent with historical hole C-118, approximately 80 metres to the east. Results from WT-22-139 also strongly support the interpretation that mineralisation at the southern Talon is continuous to surface and daylights in the Leatherwood mine area. Western Talon Drilling at the western Talon tested potential southern extensions to mineralisation as well as gaps in the previous drilling.

Positive results were returned on both fronts including: · 10.7m at 2.23% Cu, 19.62g/t Ag and 0.35g/t Au (including 0.9m at 8.63% Cu, 66.80g/t Ag and 1.03g/t Au); 10.5m at 1.23% Cu, 11.07g/t Ag and 0.31g/t Au and 33.9m at 1.11% Cu, 11.51g/t Ag and 0.27g/t Au (including 0.7m at 10.60% Cu, 28.20g/t Ag and 0.07g/t Au) in WT-22-110. The drill hole confirmed the thick mineralised intersection in nearby drill hole WT-21-45. 19.0m at 1.21% Cu, 10.13g/t Ag and 0.30g/t Au in WT-22-105 (Figure 3).

This result has extended mineralisation southwards by approximately 50 metres. 4.1m at 3.38% Cu, 26.56g/t Ag and 0.35g/t Au and 5.3m at 2.00% Cu, 22.28g/t Ag and 0.37g/t Au in WT-22-87. Results were across three zones including a thin, high-grade interval at the top and two broader zones with lower grade mineralisation in the bottom section of the hole.

Other areas Five holes were drilled at the western and northern end of Oracle Ridge: · Holes WT-22-88 and WT-22-95 were drilled to the south of the main mine area. WT-22-95 returned narrow mineralisation while WT-22-88 encountered an unexpected zone of 12.5m at 2.08% Cu, 18.81g/t Ag and 0.33g/t Au. This latter intercept is significantly thicker than mineralised intervals in nearby holes.

A geological review is ongoing to establish if a different mineralisation structure can be ascertained from this interesting intercept. WT-22-111 and WT-22-137 were drilled at the northern end of the mine area. The former did not return intersections above the cut-off grade.

The latter returned a best interval of 3m at 2.10% Cu, 39.06g/t Ag and 0.25g/t Au in a thick, lower grade mineralised zone. WT-22-135 was designed to test for extensions to Inferred mineralisation in the western mine area. The drill hole intersected narrow, low grade mineralisation.

This result, together with that reported for infill hole WT-22-134, is expected to have a negative impact on the next MRE in this area. Results from five infill holes were received. These holes were drilled at a nominal Inferred spacing of 50 metres within the footprint of the existing MRE at a 1% copper cut-off grade.

These holes are designed to improve resource confidence and are a necessary step for future studies. Key observations from the results of resource infill holes include: · 9.6m at 1.06% Cu, 9.23g/t Ag and 0.17g/t Au and 7.4m at 2.70% Cu, 34.64g/t Ag and 0.53g/t Au (including 1.2m at 7.38% Cu, 107.10g/t Ag and 1.82g/t Au) in WT-22-132. The drill hole was completed in the southern Talon area and broadly confirmed results from surrounding holes.

WT-22-138 and WT-22-146 were drilled in the eastern Talon and confirmed the thin nature of the mineralisation in this part of Oracle Ridge. Best results include: o 0.8m at 3.27% Cu, 18.40g/t Ag and 0.13g/t Ag (WT-22-138) o 0.6m at 1.02% Cu, 13.45g/t Ag and 0.17g/t Au (WT-22-146) · 3.9m at 1.56% Cu, 12.20g/t Ag and 0.27g/t Au in WT-22-145 drilled in the eastern Talon. 1.2m at 1.18% Cu, 20.50g/t Ag and 0.06g/t Au in WT-22-134 testing the Inferred resource in the western mine area.

The drill hole returned thinner and lower grade mineralisation than expected and will have an adverse impact on the resource estimate in this area.