Resource Mining : Maiden KNP Nickel Drilling Program Completed

ASX Release

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12 July 2022

MAIDEN DRILLING PROGRAM AT KABULWANYELE NICKEL

PROJECT COMPLETED

Highlights

• Resource Mining Corporation (RMC) has completed its maiden drilling program at its Kabulwanyele Nickel Project in Tanzania.
• The completed program comprised of 19 holes for a total of 799metres, testing the depth extents of the Nickel laterite.
• Geological logging of the RC chips has indicated a saprolite profile present consistently throughout the project area.
• Collected samples will be prepared at a laboratory in Mwanza and shipped to ALS Chemex South Africa for analysis.
• The Company will undertake a gravity survey followed potentially by electromagnetic surveys. This work defines the size and extent of the mafic- ultramafic inlier at Kabulwanyele, and aids in the definition of other forms of Nickel mineralization.

Nickel exploration company Resource Mining Corporation Limited (ASX:RMI) ("RMC" or the "Company") is pleased to announce that it has completed its maiden RC drilling program at its Kabulwanyele Project. The completed program comprised 19 holes for a total of 799m drilled.

Geological logging of the RC chips has identified a lateritic profile comprising intercepts of ferruginous layers, saprolite (highly weathered rocks), saprolitic rocks (moderately weathered rocks) and fresh rock. The thickness of the ferruginous layer combined with saprolite / saprolitic rock layers ranges between 5m to 50m. Most of the holes ended in fresh rock. The drill holes to the north have generally not ended in fresh rock due to groundwater inundation that the RC rig is unable to clear through increased air pressure - so those holes have ended predominantly in saprolitic rock.

The samples collected from the drilling program have been dispatched to Nesch Mintek Mwanza for preparation before being shipped to the ALS Chemex South Africa for analysis. The assay results are expected in the next two months.

Resource Mining Corporation's Chairman, Asimwe Kabunga, said: "We are very pleased to have completed the drill program testing the Kabulwanyele mineralisation. Our Tanzanian in-country team completed the program on time and on budget. We look forward to releasing the assay results as soon as they become available."

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Upcoming exploration program

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A gravity survey program has been proposed to determine the size and characteristics of the deeply buried mafic-ulframafic inlier that has been weathered to form the identified nickel laterite anomalies. The program will commence in the next two weeks. The Gravity survey has the potential to define further targets associated with primary magmatic sulphide mineralization, these can be followed up by a ground Electromagnetic (EM) survey that would aid in the identification of any conducting sulphide layers that may exist at depth. Any combination of targets identified by the Gravity and EM surveys would then be drill tested using deeper diamond drilling.

Kabulwanyele is a lateritic occurrence overlying a mafic-ultramafic layered intrusion. The nature of the exploration to date confirms the potential for both lateritic nickel zones as well as an underlying nickel-enriched source within the mafic-ultramafic inlier.

Figure 1: Map showing the completed drilling program over previous mapping and sampling.

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Image 1: RC Chips from KBRC012

Background

The Project is located in the Mpanda District of Tanzania, approximately 35km from the eastern shore of Lake Tanganyika, with the area forming part of the western limb of the East African Rift systems.

As background, in 2021 the Company conducted a sampling program that included a systematic collection of 254 soil samples and 19 rock chip samples from all tenements at the Project.

This program delivered highly encouraging nickel and cobalt results and delineated a Nickel-Cobalt anomaly with a strike length of 2km as illustrated in Figure 2, which is broadly coincident with a historically mapped nickel laterite. All samples collected from this anomaly returned grades equal to, or exceeding, 500ppm Ni and 200ppm Co, with grades of up to 1.27% Ni tested in a rock sample, and up to 0.85% Ni in soils1.

1 Please refer to ASX Announcement dated 18 November 2021 titled "Kabulwanyele Nickel Deposit - Encouraging Nickel and Cobalt Assay Results Received." RMC confirms that it is not aware of any new information or data that materially affects the information included in the announcement.

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Figure 2: Nickel assay results for soil and rock samples at the Kabulwanyele Nickel Project2.

Kabulwanyele is a lateritic occurrence overlying a mafic-ultramafic layered intrusion. The nature of the mineralisation present confirms the potential for both a possible lateritic nickel zone as well as an underlying nickel-enriched source within the serpentinite. Evidence for sulphide mineralization is supported by gossan-type box work structures seen within the ultramafic rock units (See image 2 below).

Image 2: Ferruginous silicious boulder with boxwork structures within the serpentinite unit

This ASX announcement has been authorised for lodgement by the Board of Resource Mining Corporation Limited.

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For further information, contact	For investor or media inquiries, contact
Asimwe Kabunga	Sonny Didugu
Executive Chairman	Reign Advisory
P: [phone]	P: [phone]
E: [e-mail]	E: [e-mail]

About Resource Mining Corporation

Resource Mining Corporation Limited (ASX: RMI) is an independent Australian mineral resource company on a mission to create wealth from mineral commodities using innovative technical, marketing and financial skills.

RMC is currently exploring the Kabulwanyele Nickel Project (KNP) in Tanzania, where initial exploration conducted in 2021 was extremely promising, and identified a strong nickel anomaly.

An acquisition of the Massive Nickel Pty Ltd portfolio is currently pending, comprising five projects: Kabanga North, Kapalagulu, and Southern projects: Liparamba, Kitai and Mbinga, all in Tanzania.

The board has strong ties to Tanzania, Chaired by Asimwe Kabunga, a Tanzanian-born Australian entrepreneur who was instrumental in establishing the Tanzania Community of Western Australia Inc. and served as its first President.

Competent Person Statement

Exploration Results

Information in this announcement that relates to Exploration results and targets is based on, and fairly reflects, information compiled by Mr. Mark Gifford, a Competent Person who is a Fellow of the Australian Institute of Mining and Metallurgy. Mr Gifford is an independent consultant for Resource Mining Corporation Limited. Mr Gifford has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration and to the activity he is undertaking to qualify as a Competent Person as defined by the 2012 Edition of the Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Gifford consents to the inclusion of the data in the form and context in which it appears.

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