Mt Malcolm Mines NL : Half Yearly Report to Shareholders

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HALF YEARLY REPORT

Financial Report for the half-year ended 31 December 2021

Mt Malcolm Mines NL ABN: 78 646 466 435

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Contents

Corporate Directory	3
Director's Report	4
Auditor's Independance Declaration	9
Independent Auditor's Review Report	10
Directors' Declaration	12
Financial Statements
Consolidated Statement of Profit or Loss and Other Comprehensive Income	13
Consolidated Statement of Financial Position	14
Consolidated Statement of Changes in Equity	15
Consolidated Statement of Cash Flows	16
Notes to the Consolidated Financial Statements	17

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Corporate Directory

BOARD OF DIRECTORS

Trevor Dixon

Managing Director

Daniel Tuffin

Technical Director

Robert Downey

Non-Executive Chair

Gary Powell

Non-Executive Director

COMPANY SECRETARY

Henko Vos

REGISTERED OFFICE

C/- Nexia Perth

Level 3, 88 William Street PERTH WA 6000

Telephone: [phone]

Website: www.nexia.com.au

CORPORATE OFFICE

Mt Malcolm Mines NL

8 Sarich Court,

OSBORNE PARK WA 6019

Telephone: [phone]

Website: mtmalcolm.com.au

AUDITORS

RSM Australia Partners

Level 32, Exchange Tower

2 The Esplanade

PERTH WA 6000

SHARE REGISTRY

Advanced Share Registry Ltd

110 Stirling Hwy

NEDLANDS WA 6009

Telephone: [phone]

Facsimile: [phone]

Website:www.advancedshare.com.au

SECURITIES EXCHANGE LISTING

Mt Malcolm Mines NL shares are listed on the Australian Securities Exchange

(ASX Code: M2M)

BANKERS

National Australia Bank

West End - 197 St Georges Terrace PERTH WA 6000

WEBSITE

www.mtmalcolm.com.au

CORPORATE GOVERNANCE

STATEMENT

www.mtmalcolm.com.au

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Directors' Report

The Directors of Mt Malcolm Mines NL ( "M2M" or "the Company") herewith submit the financial report of the Company and its controlled entities ("Group") for the half year ended 31 December 2021. In order to comply with the provisions of the Corporations Act 2001, the directors report as follows.

BOARD OF DIRECTORS

The names of the Directors of the Company who have held office during and since the end of the half-year period and until the date of this report are noted below. Directors were in office for the

entire period unless otherwise noted.

Director	Position
Trevor Dixon	Managing Director
Daniel Tuffin	Technical Director
Robert Downey	Non-Executive Chair
Gary Powell	Non-Executive Director

COMPANY SECRETARY

Henko Vos

PRINCIPAL ACTIVITIES

The principal activity of the Group consists of obtaining exploration tenements around the Mt Malcolm region in Western Australia, for the purpose of exploration and potential development of gold.

REVIEW OF OPERATIONS AND ACTIVITIES

The loss for the period for the Group after providing for income tax amounted to $853,531 (31 December 2020: loss of $2,180,473).

On 3 September 2021, the Company completed its initial public offering by issuing 40,000,000 shares at $0.20 each, raising a total of $8,000,000 before costs.

Operationally throughout the last 6 months Mt Malcolm Mines NL (M2M) successfully listed on the ASX on 10th September 2021 with a 274km2 landholding within the Tier 1 Leonora Mineral District.

Exploration activities commenced post listing at Calypso & Golden Crown with data interpretation and consolidation of historical datasets continuing over the "Malcolm & Mt George Projects" tenement holdings located within 30kms of Leonora in the prospective Central Eastern Goldfields, activities completing during the period include:

Page 4	Half-Year Report 31 December 2021
	Mt Malcolm Mining NL

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• Detailed Gravity survey at the Calypso Prospect,
• RC Drilling at the Golden Crown Prospect,
• RC Drilling at the Calypso Prospect.

Gold assays were returned during the period for Golden Crown with positive results being displayed in and around the historic workings.

Assay results for the RC drill program are shown in Table 1.

TABLE 1

Significant intercepts from Golden Crown

Hole ID	From	To (m)	Interval	Grade (g/t)	Intersection
	(m)			Au
21GCRC001	19	20	1	0.54	1m @ 0.54 g/t Au
	32	34	2	0.59	2m @ 0.59 g/t Au
	37	40	3	11.97	3m @ 11.97 g/t Au
including	37	38	1	33.61	1m @ 33.61 g/t Au
21GCRC003	19	21	2	0.92	2m @ 0.92 g/t Au
	25	31	7	0.34	7m @ 0.34 g/t Au
	62	63	1	0.66	1m @ 0.66 g/t Au
21GCRC004	12	13	1	1.22	1m @ 1.22 g/t Au
	14	15	1	0.94	1m @ 0.94 g/t Au
21GCRC005	17	18	1	3.07	1m @ 3.07 g/t Au
21GCRC006	41	42	1	0.34	1m @ 0.34 g/t Au
	44	45	1	0.25	1m @ 0.25 g/t Au
21GCRC007	20	28	8	0.51	8m @ 0.51 g/t Au
	23	25	2	0.92	2m @ 0.92 g/t Au
	30	31	1	0.45	1m @ 0.45 g/t Au
	34	35	1	7.06	1m @ 7.06 g/t Au
21GCRC008	16	17	1	0.54	1m @ 0.54 g/t Au
	19	24	5	0.44	5m @ 0.44 g/t Au
including	21	22	2	0.54	2m @ 0.54 g/t Au
	28	32	4	2.99	4m @ 2.99 g/t Au
	28	37	10	1.56	10m @ 1.56 g/t Au
including	29	30	1	5.78	1m @ 5.78 g/t Au
21GCRC009	16	17	1	1.16	1m @ 1.16 g/t Au
	20	24	4	1.46	4m @ 1.46g/t Au
including	21	23	2	2.61	2m @ 2.61 g/t Au

Half-Year Report 31 December 2021	Page 5
Mt Malcolm Mining NL