Atlantic Lithium Limited — Capital/Financing Update 2023

Jun 19, 2023

EXPLORATION UPDATE

20 June 2023

Initial Drilling Results Reported Infill Resource Drilling Confirms Continuity and Grade Ewoyaa Lithium Project Ghana, West Africa Mining Lease Application Update

Atlantic Lithium Limited (AIM: ALL, OTC: ALLIF, ASX: A11 “Atlantic Lithium” or the “Company”), the funded Africanfocussed lithium exploration and development company targeting to deliver Ghana’s first lithium mine, is pleased to announce initial assay results from the resource and exploration drilling programme recently commenced at the Ewoyaa Lithium Project (“Ewoyaa” or the “Project”) in Ghana, West Africa.

HIGHLIGHTS:

• Initial assay results received for 2,208m of infill reverse circulation (“RC”) drilling completed at Ewoyaa as part of the broader 18,500m 2023 planned drilling programme.

• Newly reported assay results confirm mineralisation continuity within the Ewoyaa South-2 deposit, part of the 35.3Mt @ 1.25% Li2O Ewoyaa JORC (2012) Compliant Mineral Resource Estimate[1] (“MRE” or the “Resource”).

• Drilling designed to convert Inferred resources to higher confidence Indicated resources at the Ewoyaa South2 deposit for future mine sequencing optionality.

• Multiple high-grade drill intersections reported as downhole intercepts, with true widths estimated in the intersections table, including highlights at a 0.4% Li2O cut-off and a maximum 4m of internal dilution of:

• GRC0892: 57m at 1.17% Li2O from 45m

• GRC0899: 54m at 1.14% Li2O from 3m

• GRC0900: 41m at 1.16% Li2O from 73m

• GRC0909A: 33m at 1.12% Li2O from 78m

• GRC0896: 18m at 1.16% Li2O from 80m

• GRC0908: 19m at 0.93% Li2O from 47m

• GRC0906: 11m at 1.5% Li2O from 38m

• GRC0906: 17m at 0.91% Li2O from 54m

• o GRC0908: 10m at 1.53% Li2O from 33m

• Drilling and regional exploration programmes ongoing ( refer announcements of 19 April 2023 and 20 March 2023 ).

• Definitive Feasibility Study remains on track for release end Q2 2023.

• Awaiting approval of Mankessim licence consolidation ahead of resubmission of Mining Lease application for the Project.

Commenting on the Company’s latest progress, Neil Herbert, Executive Chairman of Atlantic Lithium, said:

“We are pleased to kick off the 2023 drilling season with our first set of infill drilling assay results. These include some significant apparent widths and grades from relatively shallow depths.

“Results are from the Ewoyaa South-2 deposit where we are infill drilling to convert Inferred to Indicated category resources to provide optionality for future mine scheduling to more easily enable the relocation of the overhead powerlines.

“Initial infill results at the Ewoyaa South-2 deposit are encouraging and show good continuity of mineralisation between drill sections.

“A total of 18,500m of infill, extensional and exploration RC drilling has been planned for the 2023 season. We look forward to updating shareholders as results become available.

“We also await approval of the consolidation of the licence covering the proposed mine and processing plant site, which was undertaken to facilitate a smoother approvals process and simplified operational structure, as advised by Ghana’s Minerals Commission Technical Committee.

“The Company expects no further major amendments to the application, so believes that the Mining Lease will be granted for the Project in the coming months.

“Meanwhile, the study team is working hard to deliver the DFS by the end of Q2 2023.”

New Drilling Results:

Initial assay results have been received for 2,208m of RC drilling from the ongoing drill programme at the Ewoyaa Project. Multiple high-grade drill intersections are reported for infill drilling results at the Ewoyaa South-2 deposit within the current MRE ( refer Table 1 , Appendix 1 and Appendix 2 ).

Drilling is planned to intersect mineralised pegmatite dykes perpendicular to strike and dip to approximate true width. This is not always achieved due to the variable nature of pegmatites or challenging drill access, with some drill intersections drilled down-dip as apparent widths. Accordingly, estimated true widths are included in the intersections table in Appendix 1.

Table 1: Drill intersection highlights at greater than 10 Li x m, reported at a 0.4% Li2O cut-off and maximum of 4m of internal dilution.

Hole_ID	From_m	To_m	Interval_	Li2O%	Intersection	Comment	Hole Purpose	metal content Li x m
GRC0892	45	102	57	1.17	GRC0892: 57m at 1.17% Li2O from 45m		Resource Drilling	66.7
GRC0899	3	57	54	1.14	GRC0899: 54m at 1.14% Li2O from 3m		Resource Drilling	61.6
GRC0900	73	114	41	1.16	GRC0900: 41m at 1.16% Li2O from 73m		Resource Drilling	47.6
GRC0909A	78	111	33	1.12	GRC0909A: 33m at 1.12% Li2O from 78m		Resource Drilling	37.0
GRC0896	80	98	18	1.16	GRC0896: 18m at 1.16% Li2O from 80m		Resource Drilling	20.9
GRC0908	47	66	19	0.922	GRC0908: 19m at 0.93% Li2O from 47m		Resource Drilling	17.5
GRC0906	38	49	11	1.5	GRC0906: 11m at 1.5% Li2O from 38m		Resource Drilling	16.5
GRC0906	54	71	17	0.91	GRC0906: 17m at 0.91% Li2O from 54m		Resource Drilling	15.5
GRC0908	33	43	10	1.53	GRC0908: 10m at 1.53% Li2O from 33m		Resource Drilling	15.3
GRC0908	18	31	13	1.03	GRC0908: 13m at 1.03% Li2O from 18m		Resource Drilling	13.4
GRC0897	68	83	15	0.89	GRC0897: 15m at 0.89% Li2O from 68m		Resource Drilling	13.4
GRC0907	6	18	12	1.07	GRC0907: 12m at 1.07% Li2O from 6m	weatheredpegmatite	Resource Drilling	12.8
GRC0903	57	67	10	1.27	GRC0903: 10m at 1.27% Li2O from 57m		Resource Drilling	12.7
GRC0898	15	25	10	1.26	GRC0898: 10m at 1.26% Li2O from 15m		Resource Drilling	12.6
GRC0897	51	60	9	1.36	GRC0897: 9m at 1.36% Li2O from 51m		Resource Drilling	12.2

Note: Metal content is based on intercept rather than estimated true width

Infill drilling results confirm mineralisation continuity at the Ewoyaa South-2 deposit where multiple drilling intersections are reported over significant apparent widths and relatively shallow depths ( refer Figure 1 , Figure 2 and Figure 3 ).

Drilling is designed to infill the Ewoyaa South-2 deposit to convert mineralisation from the Inferred to Indicated category. Approximately 3,000m of infill drilling has been planned at the Ewoyaa South-2 deposit with a further 7,000m of resource extensional drilling planned at the Ewoyaa Main, Ewoyaa North-east and Kaampakrom deposits. A further 6,500m of exploration drilling and 2,000m of diamond core (“DD”) drilling is planned as part of the 2023 field season ( refer announcement of 19 April 2023 ).

Sample preparation was completed by Intertek Ghana and assay by Intertek Perth with all reported results passing QA/QC protocols, providing confidence in reported results.

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Figure 1: Location of reported assay results with highlight drill intersections.

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Figure 2: Cross-section A-A’ showing assay results received for GRC0897, GRC0898, GRC0899 and GRC0900
at the Ewoyaa South-2 deposit.
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Figure 3: Cross-section B-B’ assay results received for GRC0892 at the Ewoyaa South-2 deposit.

Mining Lease Update

The Company initially submitted its application for the Mining Lease for the Project in October 2022, following the release of the Company’s Pre-Feasibility Study for the Project. In order to facilitate a smoother approvals process and simplified operational structure, the Company was advised by Ghana’s Minerals Commission Technical Committee to consolidate the Project’s proposed mine and processing plant site (formerly covering the Mankessim and Mankessim South licences) into the single Mankessim licence.

As part of this process, the Company took the opportunity to implement optimisations based on the finalised plant flowsheet into its Mining Lease application. The revised Mining Lease application now also includes the addition of deposits that were sitting outside of the mine plan in the initial application submitted.

These steps have been undertaken and the Company currently awaits the approval of the Mankessim licence consolidation. Upon approval, the Company will submit the revised application for a Mining Lease for the Project.

The Company expects no further major amendments to the application to be requested by the Technical Committee and has no reason to believe that the Mining Lease will not be granted for the Project. Subject to there being no further feedback, the Company expects to receive formal ministerial approval of its Mining Lease for the Project in the coming months.

Once approved, the Company will obtain all approvals and permits required by the Environmental Protection Agency and any other regulatory bodies in Ghana. The Mining Lease, with necessary regulatory permits, is subject to Sovereign Ratification by the Parliament of Ghana.

The Company will update the market on any further developments.

End note:

1 The Company’s current Mineral Resource Estimate of 35.3Mt @ 1.25% Li2O for the Project was reported in its announcement on 1 February 2023. The MRE includes a total of 3.5Mt at 1.37% Li2O in the Measured category, 24.5Mt at 1.25% Li2O in the Indicated category and 7.4Mt at 1.16% Li2O in the Inferred category. For the purposes of ASX Listing Rule 5.23, the Company confirms that it is not aware of any new information or data that materially affects the information included in its announcement dated 1 February 2023 and that all material assumptions and technical parameters underpinning the estimate in that announcement continue to apply and have not materially changed.

Competent Persons

Information in this report relating to the exploration results is based on data reviewed by Mr Lennard Kolff (MEcon. Geol., BSc. Hons ARSM), Chief Geologist of the Company. Mr Kolff is a Member of the Australian Institute of Geoscientists who has in excess of 20 years’ experience in mineral exploration and is a Qualified Person under the AIM Rules. Mr Kolff consents to the inclusion of the information in the form and context in which it appears.

Information in this report relating to Mineral Resources was compiled by Shaun Searle, a Member of the Australian Institute of Geoscientists. Mr Searle has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Searle is a director of Ashmore. Ashmore and the Competent Person are independent of the Company and other than being paid fees for services in compiling this report, neither has any financial interest (direct or contingent) in the Company. Mr Searle consents to the inclusion in the report of the matters based upon the information in the form and context in which it appears.

The reported Ore Reserves have been compiled by Mr Harry Warries. Mr Warries is a Fellow of the Australasian Institute of Mining and Metallurgy and an employee of Mining Focus Consultants Pty Ltd. He has sufficient experience, relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking, to qualify as a Competent Person as defined in the ‘Australasian Code for Reporting of Mineral Resources and Ore Reserves’ of December 2012 (“JORC Code”) as prepared by the Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy, the Australian Institute of Geoscientists and the Minerals Council of Australia. Mr Warries gives Atlantic Lithium Limited consent to use this reserve estimate in reports.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

For any further information, please contact:

Atlantic Lithium Limited

Tel: +61 2 8072 0640

Neil Herbert (Executive Chairman) Amanda Harsas (Finance Director and Company Secretary) www.atlanticlithium.com.au IR@atlanticlithium.com.au

Yellow Jersey PR Limited

Tel: +44 (0)20 3004 9512

Charles Goodwin Bessie Elliot atlantic@yellowjerseypr.com

Notes to Editors:

About Atlantic Lithium

www.atlanticlithium.com.au

Atlantic Lithium is an AIM and ASX-listed lithium company advancing a portfolio of lithium projects in Ghana and Côte d’Ivoire through to production.

The Company’s flagship project, the Ewoyaa Project in Ghana, is a significant lithium spodumene pegmatite discovery on track to become Ghana’s first lithium-producing mine. The Company signed a funding agreement with Piedmont Lithium Inc. towards the development of the Ewoyaa Project. Atlantic Lithium is currently advancing the Ewoyaa Project through feasibility studies and intends to be producing a spodumene concentrate via simple gravity only process flowsheet.

Atlantic Lithium holds 560km[2] & 774km[2] of tenure across Ghana and Côte d'Ivoire respectively, comprising significantly under-explored, highly prospective licences.

Appendix 1 – New drill intersections reported in hole ID order, reported at a 0.4% Li2O cut-off and maximum 4m of internal dilution.

Hole_ID	From_m	To_m	Interval_ m	Estimated true width_m	Li2O%	Intersection	Comment	Hole Purpose	metal content Li x m
GRC0889	7	11				no significant intersections	weatheredpegmatite	Water Monitoring
GRC0890	6	8	2			no significant intersections	weatheredpegmatite	Resource Drilling
GRC0891	13	18	5			no significant intersections	weatheredpegmatite	Resource Drilling
GRC0892	45	102	57	11	1.17	GRC0892: 57m at 1.17% Li2O from 45m		Resource Drilling	66.7
GRC0893						Nopegmatite intersected	Nopegmatite intersected	Resource Drilling
GRC0894	2	8	6	3		no significant intersections	weatheredpegmatite	Resource Drilling
GRC0894	19	24	5	2.5		no significant intersections	weatheredpegmatite	Resource Drilling
GRC0895	80	84	4	4	1.05	GRC0895: 4m at 1.05% Li2O from 80m		Resource Drilling	4.2
GRC0896	80	98	18	11	1.16	GRC0896: 18m at 1.16% Li2O from 80m		Resource Drilling	20.9
GRC0897	51	60	9	5	1.36	GRC0897: 9m at 1.36% Li2O from 51m		Resource Drilling	12.2
GRC0897	68	83	15	10	0.89	GRC0897: 15m at 0.89% Li2O from 68m		Resource Drilling	13.4
GRC0898	7	10	3	1	0.96	GRC0898: 3m at 0.96% Li2O from 7m	weatheredpegmatite	Resource Drilling	2.9
GRC0898	15	25	10	5	1.26	GRC0898: 10m at 1.26% Li2O from 15m		Resource Drilling	12.6
GRC0899	3	57	54	11	1.14	GRC0899: 54m at 1.14% Li2O from 3m		Resource Drilling	61.6
GRC0899	109	111	2	1	1.07	GRC0899: 2m at 1.07% Li2O from 109m		Resource Drilling	2.1
GRC0899	116	117	1	0.5	0.46	GRC0899: 1m at 0.46% Li2O from 116m		Resource Drilling	0.5
GRC0900	73	114	41	11	1.16	GRC0900: 41m at 1.16% Li2O from 73m		Resource Drilling	47.6
GRC0901	3	9	6	4	0.77	GRC0901: 6m at 0.77% Li2O from 3m	weatheredpegmatite	Resource Drilling	4.6
GRC0902	13	17	4	3	0.47	GRC0902: 4m at 0.47% Li2O from 13m	weatheredpegmatite	Resource Drilling	1.9
GRC0903	9	17	8	5	0.83	GRC0903: 8m at 0.83% Li2O from 9m		Resource Drilling	6.6
GRC0903	57	67	10	5	1.27	GRC0903: 10m at 1.27% Li2O from 57m		Resource Drilling	12.7
GRC0904	97	101	4	2.5	0.93	GRC0904: 4m at 0.93% Li2O from 97m		Resource Drilling	3.7
GRC0905	17	18	1	1	1.09	GRC0905: 1m at 1.09% Li2O from 17m		Resource Drilling	1.1
GRC0905	24	30	6	4	1.55	GRC0905: 6m at 1.55% Li2O from 24m		Resource Drilling	9.3
GRC0905	50	52	2	1.5	0.65	GRC0905: 2m at 0.65% Li2O from 50m		Resource Drilling	1.3
GRC0906	15	20	5	3	0.96	GRC0906: 5m at 0.96% Li2O from 15m		Resource Drilling	4.8
GRC0906	38	49	11	6	1.5	GRC0906: 11m at 1.5% Li2O from 38m		Resource Drilling	16.5
GRC0906	54	71	17	8	0.91	GRC0906: 17m at 0.91% Li2O from 54m		Resource Drilling	15.5
GRC0907	6	18	12	7	1.07	GRC0907: 12m at 1.07% Li2O from 6m	weatheredpegmatite	Resource Drilling	12.8
GRC0908	18	31	13	8	1.03	GRC0908: 13m at 1.03% Li2O from 18m		Resource Drilling	13.4
GRC0908	33	43	10	6	1.53	GRC0908: 10m at 1.53% Li2O from 33m		Resource Drilling	15.3
GRC0908	47	66	19	10	0.922	GRC0908: 19m at 0.93% Li2O from 47m		Resource Drilling	17.5
GRC0909A	44	48	4	2	0.77	GRC0909A: 4m at 0.77% Li2O from 44m		Resource Drilling	3.1
GRC0909A	78	111	33	12	1.12	GRC0909A: 33m at 1.12% Li2O from 78m		Resource Drilling	37
GRC0909A	120	122	2	1	0.76	GRC0909A: 2m at 0.76% Li2O from 120m		Resource Drilling	1.5

Note: Metal content is based on intercept rather than estimated true width

Appendix 2 – Newly reported drill hole collar locations.

Hole_ID	Easting_m	Northing_m	Elevation_m	Dip	Hole Azimuth	end of hole depth_m	Hole Purpose
GRC0889	714054	577704	26.0	-90	0	100	Water Monitoring
GRC0890	715399	578416	51.9	-50	305	50	Resource Drilling
GRC0891	715429	578390	57.7	-50	305	80	Resource Drilling
GRC0892	715462	578366	60.0	-50	305	124	Resource Drilling
GRC0893	715480	578358	57.1	-50	305	174	Resource Drilling
GRC0894	715420	578430	53.8	-50	305	50	Resource Drilling
GRC0895	715449	578412	56.6	-50	305	106	Resource Drilling
GRC0896	715490	578375	58.3	-50	305	157	Resource Drilling
GRC0897	715470	578427	56.0	-50	305	109	Resource Drilling
GRC0898	715448	578443	53.1	-50	305	50	Resource Drilling
GRC0899	715492	578409	59.6	-50	305	150	Resource Drilling
GRC0900	715509	578399	59.5	-50	305	170	Resource Drilling
GRC0901	715458	578462	45.8	-50	305	50	Resource Drilling
GRC0902	715477	578480	45.8	-50	305	50	Resource Drilling
GRC0903	715513	578456	45.7	-50	305	120	Resource Drilling
GRC0904	715541	578429	45.4	-50	305	139	Resource Drilling
GRC0905	715517	578485	41.2	-50	305	110	Resource Drilling
GRC0906	715547	578458	39.6	-50	305	140	Resource Drilling
GRC0907	715514	578509	39.4	-50	305	50	Resource Drilling
GRC0908	715549	578490	35.2	-50	305	86	Resource Drilling
GRC0909A	715568	578474	38.3	-50	305	143	Resource Drilling

‘JORC Code 2012 Table 1’ Section 1 Sampling Techniques and Data

The following extract from the JORC Code 2012 Table 1 is provided for compliance with the Code requirements for the reporting of Exploration Results.

Criteria	JORC Code explanation	Commentary
Sampling techniques	• Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. • Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.	• RC drill holes were routinely sampled at 1m intervals with a nominal 3-6kg sub-sample split off for assay using a rig-mounted cone splitter at 1m intervals. • DD holes were quarter core sampled at 1m intervals or to geological contacts for geochemical analysis. • For assaying, splits from all prospective ore zones (i.e., logged pegmatites +/- interburden) were sent for assay. Outside of these zones, the splits were composited to 4m using a portable riffle splitter. • Holes without pegmatite were not assayed. • Approximately 5% of all samples submitted were standards and coarse blanks. Blanks were typically inserted with the interpreted ore zones after the drilling was completed. • Approximately 2.5% of samples submitted were duplicate samples collected after logging using a riffle splitter and sent to an umpire laboratory. This ensured zones of interest were duplicated and not missed during alternative routine splitting of the primary sample. • Prior to the December 2018 - SGS Tarkwa was used for sample preparation (PRP100) and subsequently forwarded to SGS Johannesburg for analysis; and later SGS Vancouver for analysis (ICP90A). • Post December 2018 to present – Intertek Tarkwa was used for sample preparation (SP02/SP12) and subsequently forwarded to Intertek Perth for analysis (FP6/MS/OES - 21 element combination Na2O2 fusion with combination OES/MS). • ALS Laboratory in Brisbane was used for the Company’s initial due diligence work programmes and was selected as the umpire laboratory since Phase 1. ALS conducts ME-ICP89, with a Sodium Peroxide Fusion. Detection limits for lithium are 0.01-10%. Sodium Peroxide fusion is considered a “total” assay technique for lithium. In addition, 22 additional elements assayed with Na2O2fusion, and combination MS/ICPanalysis.
Drilling techniques	• Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).	• Five phases of drilling were undertaken at the Project using RC and DD techniques. All the RC drilling used face sampling hammers. • Phase 1 and 2 programmes used a 5.25-inch hammers while Phase 3 and 5 used a 5.75-inch hammer. • All DD holes were completed using PQ and HQ core from surface (85mm and 63.5mm). • All DD holes were drilled in conjunction with a Reflex ACT II tool; to provide an accurate determination of the bottom-of-hole orientation. • All fresh core was orientated to allow for geological, structural and geotechnical logging by a Company geologist.
Drill sample recovery	• Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	• A semi-quantitative estimate of sample recovery was completed for the vast majority of drilling. This involved weighing both the bulk samples and splits and calculating theoretical recoveries using assumed densities. Where samples were not weighed, qualitative descriptions of the sample size were recorded. Some sample loss was recorded in the collaringof the RC drill holes.

Criteria	JORC Code explanation	Commentary
		• DD recoveries were measured and recorded. Recoveries in excess of 95.8% have been achieved for the DD drilling programme. Drill sample recovery and quality is adequate for the drilling technique employed. • The DD twin programme has identified a positive grade bias for iron in the RC compared to the DD results.
Logging	• Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. • The total length and percentage of the relevant intersections logged.	• All drill sample intervals were geologically logged by Company geologists. • Where appropriate, geological logging recorded the abundance of specific minerals, rock types and weathering using a standardised logging system that captured preliminary metallurgical domains. • All logging is qualitative, except for the systematic collection of magnetic susceptibility data which could be considered semi quantitative. • Strip logs have been generated for each drill hole to cross-check geochemical data with geological logging. • A small sample of washed RC drill material was retained in chip trays for future reference and validation of geological logging, and sample reject materials from the laboratory are stored at the Company’s field office. • All drill holes have been logged and reviewed by Company technical staff. • The logging is of sufficient detail to support the current reporting of a Mineral Resource.
Sub-sampling techniques and sample preparation	• If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Quality control procedures adopted for all sub- sampling stages to maximise representivity of samples. • Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second- half sampling. • Whether sample sizes are appropriate to the grain size of the material being sampled.	• RC samples were cone split at the drill rig. For interpreted waste zones the 1 or 2m rig splits were later composited using a riffle splitter into 4m composite samples. • DD core was cut with a core saw and selected half core samples dispatched to Nagrom Laboratory in Perth for preliminary metallurgical test work. • The other half of the core, including the bottom-of- hole orientation line, was retained for geological reference. • The remaining DD core was quarter cored for geochemical analysis. • Since December 2018, samples were submitted to Intertek Tarkwa (SP02/SP12) for sample preparation. Samples were weighed, dried and crushed to -2mm in a Boyd crusher with an 800- 1,200g rotary split, producing a nominal 1,500g split crushed sample, which was subsequently pulverised in a LM2 ring mill. Samples were pulverised to a nominal 85% passing 75µm. All the preparation equipment was flushed with barren material prior to the commencement of the job. Coarse reject material was kept in the original bag. Lab sizing analysis was undertaken on a nominal 1:25 basis. Final pulverised samples (20g) were airfreighted to Intertek in Perth for assaying. • • The pulps were submitted for analysis by Sodium peroxide fusion (Nickel crucibles) and Hydrochloric acid to dissolve the melt. Analysed by Inductively Coupled Plasma Mass Spectrometry (FP6MS) / Inductively Coupled Plasma Optical (Atomic) Emission Spectrometry (FP6/OE). The analytical suite consisted of Al, B, Ba, Be, Ca, Cs, Fe, K, Li, Mg, Mn, Nb, P, Rb, S, Si, Sn, Sr, Ta and Ti. • The vast majority of samples were drilled dry. Moisture content was logged qualitatively. All intersections of the water table were recorded in the database.

Criteria	JORC Code explanation	Commentary
		• Field sample duplicates were taken to evaluate whether samples were representative and understand repeatability, with good repeatability. • Sample sizes and laboratory preparation techniques were appropriate and industry standard.
Quality of assay data and laboratory tests	• The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. • For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	• Analysis for lithium and a suite of other elements for Phase 1 drilling was undertaken at SGS Johannesburg / Vancouver by ICP-OES after Sodium Peroxide Fusion. Detection limits for lithium (10ppm – 100,000ppm). Sodium Peroxide fusion is considered a “total” assay technique for lithium. • Review of standards and blanks from the initial submission to Johannesburg identified failures (multiple standards reporting outside control limits). A decision was made to resubmit this batch and all subsequent batches to SGS Vancouver – a laboratory considered to have more experience with this method of analysis and sample type. • Results of analyses for field sample duplicates are consistent with the style of mineralisation and considered to be representative. Internal laboratory QA/QC checks are reported by the laboratory, including sizing analysis to monitor preparation and internal laboratory QA/QC. These were reviewed and retained in the company drill hole database. • 155 samples were sent to an umpire laboratory (ALS) and/assayed using equivalent techniques, with results demonstrating good repeatability. • ALL’s review of QA/QC suggests the SGS Vancouver and Intertek Perth laboratories performed within acceptable limits. • No geophysical methods or hand-held XRF units have been used for determination of grades in the Mineral Resource.
Verification of sampling and assaying	• The verification of significant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data.	• Significant intersections were visually field verified by company geologists and Shaun Searle of Ashmore during the 2019 site visit. • Drill hole data was compiled and digitally captured by Company geologists in the field. Where hand-written information was recorded, all hardcopy records were kept and archived after digitising. • Phase 1 and 2 drilling programmes were captured on paper or locked excel templates and migrated to an MS Access database and then into Datashed (industry standard drill hole database management software). The Phase 3 to 5 programmes were captured using LogChief which has inbuilt data validation protocols. All analytical results were transferred digitally and loaded into the database by a Datashed consultant. • The data was audited, and any discrepancies checked by the Company personnel before being updated in the database. • Twin DD holes were drilled to verify results of the RC drilling programmes. Results indicate that there is iron contamination in the RC drilling process. • Reported drill hole intercepts were compiled by the Chief Geologist. • Adjustments to the original assay data included convertingLippmtoLi2O%.
Location of data points	• Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used. • Quality and adequacy of topographic control.	• The collar locations were surveyed in WGS84 Zone 30 North using DGPS survey equipment, which is accurate to 0.11mm in both horizontal and vertical directions. All holes were surveyed by qualified surveyors. Once validated, the survey data was uploaded into Datashed.

Criteria	JORC Code explanation	Commentary
		• RC drill holes were routinely down hole surveyed every 6m using a combination of EZ TRAC 1.5 (single shot) and Reflex Gyroscopic tools. • After the tenth drill hole, the survey method was changed to Reflex Gyro survey with 6m down hole data points measured during an end-of-hole survey. • All Phase 2 and 3 drill holes were surveyed initially using the Reflex Gyro tool, but later using the more efficient Reflex SPRINT tool. Phase 4 and 5 drill holes were surveyed using a Reflex SPRINT tool. • LiDAR survey Southern Mapping to produce rectified colour images and a digital terrain model (DTM) 32km2, Aircraft C206 aircraft-mounted LiDAR Riegl Q780 Camera Hasselblad H5Dc with 50mm Fixfocus lens. • Coordinate system: WGS84 UTM30N with accuracy to ±0.04. • The topographic survey and photo mosaic output from the survey is accurate to 20mm. • Locational accuracy at collar and down the drill hole is considered appropriate for resource estimation purposes.
Data spacing and distribution	• Data spacing for reporting of Exploration Results. • Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. • Whether sample compositing has been applied.	• The RC holes were initially drilled on 100m spaced sections and 50m hole spacings orientated at 300° or 330° with dips ranging from -50° to -60°. Planned hole orientations/dips were occasionally adjusted due to pad and/or access constraints. • Hole spacing was reduced to predominantly 40m spaced sections and 40m hole spacings. Holes are generally angled perpendicular to interpreted mineralisation orientations at the Project. • Samples were composited to 1m intervals prior to estimation.
Orientation of data in relation to geological structure	• Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	• The drill line and drill hole orientation are oriented as close as practicable to perpendicular to the orientation of the general mineralised orientation. • Most of the drilling intersects the mineralisation at close to 90 degrees ensuring intersections are representative of true widths.It is possible that new geological interpretations and/or infill drilling requirements may result in changes to drill orientations on future programmes. • No orientation based sampling bias has been identified in the data.
Sample security	• The measures taken to ensure sample security.	• Samples were stored on site prior to road transportation by Company personnel to the SGS preparation laboratory. • With the change of laboratory to Intertek, samples were picked up by the contractor and transported to the sample preparation facility in Tarkwa.
Audits or reviews	• The results of any audits or reviews of sampling techniques and data.	• Prior to the drilling programme, a third-party Project review was completed by an independent consultant experienced with the style of mineralisation. • In addition, Shaun Searle of Ashmore reviewed drilling and sampling procedures during the 2019 site visit and found that all procedures and practices conform to industry standards.

JORC Table 1, Section 2 Reporting of Exploration Results

Criteria	JORC Code explanation	Commentary
Mineral tenement and land tenure status	• Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. • The security of the tenure held at the time of reporting along with any known impediments to obtaining a license to operate in the area.	• Part of the Project is a joint-venture, with the license in the name of the joint-venture party (Barari DV Ghana). • The southern portion of the deposit occurs within a wholly owned local subsidiary Green Metals Resources Ltd. • The deposits are located on two licences Mankessim RL3/55 and Mankessim South PL109 • Mankessim South – (Green Metals Resources Ltd – 100% ALL) licence was renewed for three years and expires on 18thFebruary 2023. • Mankessim - (Barari DV Ghana Ltd – 90% ALL) was renewed for three years and expires on the 22ndof March 2024. • The licenses are in good standing with no known impediments.
Exploration done by other parties	• Acknowledgment and appraisal of exploration by other parties.	• Historical trenching and mapping were completed by the Ghana Geological survey during the 1960’s. But for some poorly referenced historical maps, none of the technical data from this work was located. Many of the historical trenches were located, cleaned and re-logged. No historical drilling was completed.
Geology	• Deposit type, geological setting and style of mineralisation.	• Pegmatite-hosted lithium deposits are the target for exploration. This style of mineralisation typically forms as dykes and sills intruding or in proximity to granite source rocks. • Surface geology within the Project area typically consists of sequences of staurolite and garnet- bearing pelitic schist and granite with lesser pegmatite and mafic intrusives. Outcrops are typically sparse and confined to ridge tops with colluvium and mottled laterite blanketing much of the undulating terrain making geological mapping challenging. The hills are often separated by broad, sandy drainages.
Drill hole information	• A summary of all information material to the under- standing of the exploration results including a tabulation of the following information for all Material drill holes: • easting and northing of the drill hole collar • elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar • dip and azimuth of the hole • down hole length and interception depth • hole length • If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	• All information has been included in the appendices. No drill hole information has been excluded.
Data aggregation methods	• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated. • Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. • The assumptions used for any reporting of metal equivalent values should be clearly stated.	• All intersections are reported at a 0.4% Li20 cut-off with maximum 4m of internal pegmatite dilution and no internal waste lithologies whether schist or granite. • No top-cut is applied as lithium pegmatites are a bulk industrial mineral. • No metal equivalent values are being reported.
Relationship between mineralisation widths and	• These relationships are particularly important in the reporting of Exploration Results. • If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.	• The drill line and drill hole orientation are oriented as close to 90 degrees to the orientation of the anticipated mineralised orientation as practicable. • The majority of the drilling intersects the

Criteria	JORC Code explanation	Commentary
intercept lengths	• If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’).	mineralisation between 60 and 80 degrees. • Where drilling has drilled down-dip of a known pegmatite, it is reported as such.
Diagrams	• Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported. These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	• Relevant plans and selected cross-sections have been included within the release.
Balanced Reporting	• Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	• All hole collars were surveyed WGS84 Zone 30 North grid using a differential GPS. All RC and DD holes were down-hole surveyed with a north-seeking gyroscopic tool. • All exploration results are being reported.
Other substantive exploration data	• Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples - size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	• Drill hole intersections were calculated from drill hole assay data, with geological logging used to aid interpretation of mineralised contact positions. • No other exploration data are being reported.
Further work	• The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large- scale step-out drilling). • Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	• Drilling results for a planned infill and extensional drilling programme are being reported. • Follow up RC and DD drilling may be undertaken once all results from the drilling programme are reviewed; either along strike or down-dip of the known pegmatites. • Drill spacing is currently considered adequate for the currentlevelof interrogationoftheProject.

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