Red Mountain Mining Advances Oaky Creek Development with Metallurgical Testing

Red Mountain Mining Accelerates Development at High-Grade Oaky Creek Antimony Prospect

Red Mountain Mining (ASX: RMX) has commenced metallurgical testing at its 100% owned Oaky Creek Antimony Prospect within the Armidale Antimony-Gold Project in New South Wales, marking a significant milestone in the company's accelerated development strategy. This strategic initiative represents a proactive approach to de-risk the asset while maximising the value of each exploration milestone as the company advances toward drilling programmes scheduled for Q2 2026.

The Red Mountain Mining Oaky Creek development will analyse a ~20kg representative bulk sample of quartz-stibnite vein material from multiple historical pits, with comprehensive testing designed to define processing behaviour and concentrate potential. Previous sampling at Oaky Creek has returned exceptional results of up to 39.3% antimony (Sb) and 1.09ppm gold, indicating the presence of a large-scale orogenic antimony-gold vein system with a ~3km strike extent at surface.

Management Commentary:
"Initiating metallurgical testing now, in parallel with ongoing exploration, is a deliberate accelerated strategy to demonstrate processing viability of the Oaky Creek mineralisation ahead of planned drilling, materially de-risking the asset and maximising the value of each exploration milestone as it is reached."

Comprehensive Metallurgical Testing Programme Underway

The testing programme at Auralia Metallurgy is being conducted under the direction of specialists in mineral processing and flowsheet development, with particular expertise in sulphide flotation and smelting. Furthermore, the comprehensive workflow includes three critical components:

Ore Characterisation

• XRD-EDS and QEMSCAN analysis to identify and quantify antimony sulphide and oxide phases
• Expected minerals include stibnite [Sb2S3], stibiconite [Sb3O6(OH)], senarmontite [Sb2O3] and valentinite [Sb2O3]
• Assessment of potential contaminant minerals including arsenopyrite [FeAsS] and other arsenic and lead-bearing minerals

Flotation Study

• Comprehensive crush, grind and flotation study to optimise antimony recovery
• Development of processing parameters for marketable antimony concentrate production
• Assessment of liberation characteristics based on observed coarse-grained stibnite crystals

Smelting Validation

• Cost-effective scoping crucible smelting test on 2-3kg subsample
• Validation of downstream processing viability for commercial development

Red Mountain's technical team anticipates the testing has potential to produce a marketable concentrate containing 30-40% antimony, which would demonstrate commercial viability provided sufficient tonnage is established through further exploration.

Understanding Orogenic Antimony-Gold Systems

Orogenic antimony-gold deposits represent some of the world's most valuable critical mineral resources, formed through hydrothermal processes during regional compression and faulting events. These systems typically feature quartz-carbonate-hosted veins and breccias containing antimony sulphide minerals, primarily stibnite, often accompanied by gold mineralisation.

The Southern New England Orogen (SNEO) hosts Australia's premier antimony province, including the Hillgrove deposit – Australia's largest known antimony deposit and the 8th largest globally. Orogenic systems like Oaky Creek are characterised by their extensive strike lengths, high-grade zones, and favourable metallurgical characteristics, making them highly attractive for commercial development.

For instance, orogenic antimony-gold systems offer several key advantages for investors:

• Predictable geology with well-understood exploration and development pathways
• High-grade mineralisation supporting robust economics
• Dual commodity potential providing revenue diversification
• Established processing techniques reducing technical risk

Significant Scale Potential Confirmed by Surface Results

According to the announcement, the Red Mountain Mining Oaky Creek development demonstrates remarkable scale potential with coherent soil anomalies extending over ~3km strike length. Recent sampling campaigns have identified five distinct mineralised areas with multiple samples exceeding 25% antimony and significant gold values.

Key Geological Highlights:

The mineralisation features quartz-carbonate-stibnite veins and breccias hosted within metamorphosed Carboniferous sediments, with targeting supported by two groups of shallow historical pits and shafts. The strong spatial correlation between antimony soil anomalies and high-grade rock samples indicates a robust and extensive mineral system analogous to major regional deposits.

Importantly, the consistent presence of coarse-grained stibnite crystals suggests favourable liberation characteristics, potentially reducing grinding energy requirements and improving processing economics. This metallurgical advantage could translate to lower operating costs and enhanced project returns.

Strategic Timeline Positions Company for Near-Term Catalysts

Red Mountain has established a clear development pathway with multiple value-inflection points scheduled over the next 12 months:

Immediate Catalysts (Q1 2026):

• Assay results from ~900 sample infill auger sampling programme expected before end of Q1
• Thompson Falls Antimony Project assay results from Montana, USA expected by March
• Metallurgical testing results defining processing parameters

Medium-Term Milestones (Q2 2026):

• Multiple drill targets defined from comprehensive sampling programme
• Drill testing commencement of high-priority antimony-gold targets
• ~2,000m RC drilling programme pending regulatory approvals

Strategic Positioning:

• Ground resistivity survey planned to delineate hydrothermal zones
• 50m x 20m and 20m x 20m spaced sampling to refine drill targets
• Parallel development of US and Australian critical mineral assets

The company's accelerated approach of conducting metallurgical testing alongside exploration activities represents a sophisticated strategy to de-risk the asset while maximising the value of each milestone. Consequently, this approach could significantly compress development timelines compared to traditional sequential development programmes.

Critical Minerals Positioning Amid Strategic Government Initiatives

Red Mountain's antimony assets align perfectly with current government strategic initiatives, particularly the US Government's $12 billion strategic minerals stockpile initiative aimed at securing critical mineral supply chains. The company's Thompson Falls Antimony Project in Montana is strategically located 4.2km from NYSE: UAMY operations, positioning it within established antimony processing infrastructure.

Strategic Market Position:

• Antimony and silver both designated as federal Critical Minerals
• Tier-1 mining district locations in both US and Australia
• Proximity to existing processing infrastructure reducing development risk
• Dual-country exposure providing geopolitical diversification

The timing of Red Mountain's development activities coincides with increasing global focus on critical mineral security, particularly antimony's strategic importance in flame retardants, batteries, and military applications. With China controlling ~60% of global antimony supply, Western governments are actively seeking alternative sources, creating a favourable policy environment for projects like the Red Mountain Mining Oaky Creek development and Thompson Falls.

Why Investors Should Monitor Red Mountain Mining

Red Mountain Mining presents a compelling investment opportunity in the rapidly growing critical minerals sector, with several key differentiators positioning the company for significant value creation:

High-Grade Asset Quality

The Red Mountain Mining Oaky Creek development shows up to 39.3% antimony grades at Oaky Creek that rival world-class deposits. Additionally, the 3km strike extent indicates substantial scale potential, with characteristics analogous to Hillgrove – Australia's largest antimony deposit.

Strategic Asset Portfolio

However, the company offers dual-country exposure across Australia and US Tier-1 mining districts. Furthermore, multiple projects provide diversification and development optionality, whilst proximity to infrastructure reduces capital requirements.

Accelerated Development Strategy

In addition, parallel metallurgical and exploration programmes are compressing timelines. The company has multiple near-term catalysts over the next 12 months, using a systematic approach to de-risking and value maximisation.

Critical Minerals Market Positioning

The project benefits from government support through strategic stockpile initiatives. Moreover, supply chain security focus is creating a favourable policy environment, whilst limited Western supply sources support strong pricing dynamics.

Key Investment Takeaway:
"Red Mountain Mining has assembled a portfolio of high-quality critical mineral assets with exceptional antimony grades and significant scale potential. The company's accelerated development strategy, combined with favourable government initiatives and strategic market positioning, creates a compelling opportunity for investors seeking exposure to the critical minerals sector. With multiple catalysts expected over the next 12 months, Red Mountain warrants close attention from investors focused on resource companies with near-term value inflection points."

The combination of world-class grades, extensive strike potential, and strategic government support positions Red Mountain as a key player in the emerging Western antimony supply chain. Investors should monitor the company's progress as it advances through this critical phase of asset development and validation.

Are You Ready to Capitalise on Red Mountain's Critical Minerals Development?

With multiple near-term catalysts expected throughout Q1 and Q2 2026, Red Mountain Mining's accelerated development strategy at Oaky Creek represents a compelling opportunity for investors seeking exposure to high-grade critical mineral assets. The company's systematic approach to de-risking whilst maximising value at each milestone, combined with world-class antimony grades and strategic government support, positions RMX as a key player in the emerging Western antimony supply chain. To explore Red Mountain Mining's full project portfolio, development timeline, and investment opportunity in greater detail, visit their comprehensive investor hub for exclusive insights and updates.