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RED MOUNTAIN MINING LIMITED
Symbol	RMXFF
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Red Mountain Mining Limited (RMXFF) Commences Exploration at Oaky Creek for High-Grade Antimony

2026-02-01 16:36 ET - News Release

Perth, Australia, Feb 2, 2026 - (ABN Newswire) - Red Mountain Mining Limited (ASX:RMX) (OTCMKTS:RMXFF), a Critical Minerals exploration and development company with an established and growing portfolio in Tier-1 Mining Districts in the United States and Australia, announced the commencement of a comprehensive auger sampling program at the Oaky Creek prospect within the Company's 100% owned Armidale Antimony-Gold Project in the Southern New England Orogen of northeast New South Wales.

HIGHLIGHTS:

- Red Mountain has commenced an expanded auger soil sampling program at the Oaky Creek Antimony prospect in the New England Oregon, NSW

- The previously reported large coherent soil anomalies and assay results of up to 39.3% Sb and 1.09ppm Au for Oaky Creek indicate the presence of a large-scale orogenic antimonygold vein system with a strike extent of ~3km at surface, which is analogous to Larvotto Resources' Hillgrove project (ASX:LRV), Australia's largest known antimony deposit

- Covering 400km2, the Armidale Antimony-Gold Project is a highly prospective, substantial land position that has required systematic and comprehensive sampling campaigns to generate drill-targets across the tenure, with this program set to define the next drilling phase

- The Oaky Creek program is designed to test the full ~3km strike extent of the conventional Antimony soil anomalies at Oaky Creek North and Oaky Creek South and is expected to be completed, including receipt of all analytical results by March

- Red Mountain anticipates that the auger sampling will define multiple orogenic AntimonyGold targets for drill testing at Oaky Creek next quarter

- With funding secured in late 2025, which was again supported by three High Net Worth/Family Office investors who have featured in the Top 20 of Larvotto (ASX:LRV), Red Mountain is fully funded to execute the comprehensive exploration program

- Red Mountain continues to actively pursue high-quality critical metal opportunities across the United States and Australia, with potential new project acquisition/s expected to be finalised in early February

Oaky Creek is one of numerous orogenic gold and antimony mineral occurrences within the project (Figure 1*) that have strong structural, lithological and mineralogical similarities to Larvotto's (ASX:LRV) (Market Cap $766M) Hillgrove deposit to the East, which is Australia's largest antimony-gold deposit.

Soil and rock chip sampling at Oaky Creek define a 3km long orogenic Sb-Au system

In January Red Mountain, returned multiple exceptional high-grade samples with values of over 25% Sb and 0.1g.t Au for five different areas, with mineralised and anomalous rock chip samples showing a strong spatial correlation to the antimony soil anomaly (Figure 2*). Significantly, in addition to sampling mineralised material in close proximity to the historical workings at Oaky Creek North and Oaky Creek South, high grade (>25% Sb) mineralisation has been sampled from a creek exposure ~500m NNW of the historical workings at Oaky Creek North; a soil anomaly ~500m NW of the Oaky Creek South Workings; and from the southern end of the Oaky Creek North soil anomaly, between 500m and 800m SSE of the closest workings. When considered collectively, the soil and rock chip results indicate a significant orogenic antimony mineral system with a strike extent of 3km.

The Oaky Creek prospect features quartz-carbonate-stibnite veins and breccias hosted within a tightly folded and faulted sequence of metamorphosed Carboniferous mudstone, siltstone and fine sandstone. The mineralisation has been targeted by two groups of shallow historical pits and shafts at Oaky Creek North and Oaky Creek South, which are thought to date from the late 19th Century, and were mined under a completely different macro-economic environment with the Antimony price then at around US$0.20/lb, compared to up to US$51,500 per ton in late 2025.

Comprehensive Auger Soil Sampling Recommences to Define Priority Targets for Drilling Soil auger sampling by the Company in late 2025, over the Oaky Creek South Main Grid, located ~500m to the northwest of Oaky Creek South, defined a coherent northeast-trending Sb-As anomaly, up to approximately 30m in width and 200m in length, which parallels and overlaps the extent of antimony-mineralised quartz-carbonate-sulfide veins, demonstrating that the auger soil sampling is able to directly map the location of near-surface mineralisation. The core of the anomaly is defined by nine samples containing >100ppm Sb, with a peak value of 1,201ppm Sb; and 27 samples containing >100ppm As, with a maximum value of 1,040ppm As.

Following receipt of these results, which demonstrated the effectiveness of the auger sampling as a prospect-scale tool for targeting antimony mineralisation at Oaky Creek, Red Mountain's team returned to Oaky Creek in December 2025 to commence an auger soil sampling program designed to tighten Red Mountain's soil grid to better constrain individual high priority drill targets. The results of the samples collected in December, mainly from the southern end of the Oaky Creek conventional soil antimony anomaly (Figure 3*), are pending and expected to be received in early February.

Red Mountain's field team had just commenced the next phase of exploration at Oaky Creek to complete an extended auger soil sampling survey (Figure 3*), which is designed to:

- Cover the full 1.2km strike extent conventional soil antimony at Oaky Creek North that was the Company's primary initial target at the Oaky Creek prospect.

- Test the extension of the strong 200m-long antimony-arsenic auger soil anomaly at Oaky Creek South, which is open to the northeast; and

- Sample across the area between the previous auger sampling and the historical workings at Oaky Creek South, where conventional soils define a weak but coherent antimony anomaly and the previous auger sampling showed increasing arsenic towards the edge of coverage, a potential vector towards antimony-gold mineralisation.

Red Mountain anticipates that the auger sampling program at Oaky Creek will be completed, including receipt of all analytical results, before the end of Q1 2026 and that the results will define multiple orogenic antimony-gold targets for drill testing at Oaky Creek during the first half of 2026.

Next steps for the Armidale Antimony-Gold Project

Oaky Creek is a key priority, among numerous prospective targets at the Armidale Antimony-Gold project tenure. Red Mountain is currently advancing plans to drill test Oaky Creek, alongside potential additional targets identified through the current sampling program.

Additional targets also include the Horsley Station and Horsley North gold prospects, in additional to East Hills where antimony-gold mineralisation has returned highly encouraging initial results: rock chip assays reporting 9.9% Sb, with soil sampling4 highlighting anomalies up to 109ppm Sb and 304ppm Au (see Figure 1*).

Red Mountain well placed to leverage current critical metal opportunities

Both the Australian and US Governments have explicitly identified antimony as a critical strategic metal, with significant constraints on supply and uncertainty around supply chain security. These constraints, which have included China limiting supply of the metal to western countries, have driven strong interest in exploration and development projects for antimony, highlighted by Larvotto Resources (ASX:LRV) (Market Cap $766M), which is fully funded to bring the Hillgrove Mine, and located east of Red Mountain's Armidale Antimony-Gold Project (Figure 4*), into production in mid2026. Hillgrove is the globe's eight largest antimony deposit and at full production is projected to meet ~7% of global demand.

With strong investor support in both Australia and the US and funding in place to support an aggressive exploration program, Red Mountain is well positioned to leverage what is an unprecedented critical shortage of Western supply and US Government interest in key strategic commodities.

In addition to the Armidale Antimony-Gold Project in Australia, Red Mountain also holds three high quality antimony projects in the USA - the Utah Antimony Project in southern Utah, and the Yellow Pine and Silver Dollar Projects in central Idaho - and is actively pursuing other opportunities. The Company has recently completed extensive due diligence and expects to announce further growth initiatives in early February.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/F2XJA313

About Red Mountain Mining Limited:

Red Mountain Mining Limited (ASX:RMX) is a mineral exploration and development company. Red Mountain has a portfolio of US, Canada and Australia projects in Critical Minerals and Gold. Red Mountain is advancing its Armidale Antimony-Gold Project in NSW, Utah Antimony Project in the Antimony Mining District of Utah, US, Fry Lake Gold Project and US Lithium projects.

Contact:

 
Mauro Piccini 
Company Secretary