CHARIOT RESOURCES LTD — Capital/Financing Update 2025

Jul 14, 2025

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ASX ANNOUNCEMENT

15 July 2025

CHARIOT RAISES $1.60 MILLION THROUGH A PLACEMENT OF SHARES

HIGHLIGHTS:

• shares at A$0.05 per share that will raise gross proceeds of A$1.6m.

• The placement was well supported by strategic and long-term lithium investors.

• The proceeds will be used by Chariot to complete its acquisition of a 66.7% interest in a highly prospective hard-rock lithium portfolio in Nigeria and finance landholding costs and exploration activities in Nigeria.

• The Nigerian portfolio, which generated several thousand tonnes of spodumene concentrate exports between 2021 and 2024, offers Chariot a near-term opportunity to derive revenues from a Chinese customer base.

• in Wyoming and claystone assets in Oregon and Nevada that offer exposure to the battery supply chain in the United States and the Nigerian portfolio that offers exposure to the battery supply chain in China.

Chariot Managing Director, Mr. Shanthar Pathmanathan, commented:

“The strong support received for this placement, particularly from cornerstone investors, is a clear endorsement of Chariot’s strategy and the exceptional potential of the newly acquired interests in the Nigerian lithium portfolio. These funds will enable us to aggressively advance exploration at the properties which exhibit visible spodumene at surface and have undergone some artisanal mining, but have never been drilled. With historical exports already validating both the quality of our ore and the market demand for it, we are confident that this placement positions Chariot for transformational growth. I would like to thank both our new and existing shareholders for their continued confidence and support.”

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Level 5, 191 St Georges Terrace Perth WA 6000 chariotcorporation.com ABN 13 637 559 847

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Chariot Corporation Limited (ASX:CC9) (“ Chariot ” or the “ Company ”) is pleased to announce that it has received firm commitments for a placement raising A$1.6 million before costs, through the issuance of approximately 32 million fully paid ordinary Chariot shares at a price of A$0.05 per share on the terms set out in this announcement.

The placement was strongly supported by a group of institutional, sophisticated and professional investors, including existing shareholders, long-term lithium investors and associates of GBA Capital Pty Ltd (“ GBA Capital ”), which acted as the lead manager for the placement.

Southern Cross Financial Pty Ltd, which has had a longstanding association with the Company, also supported the placement.

Placement Terms

The placement terms are as follows:

Placement Size	A$1.6 million
Issue Price	A$0.05 per share
Attaching Options	As part of the placement, for every two shares subscribed participants will receive one (1) free attaching option entitling the holder thereof to acquire a single share of Chariot for A$0.10, expiring 3 years from the date of issuance (“Options”). The issuance of the Options will be subject to shareholder approval at an upcoming general meeting.
Expected Settlement Date	Friday 18th of July 2025
Expected ASX Quotation of New Shares	Monday 21st of July 2025
Broker Fees	GBA Capital acted as the lead manager for the placement and will receive a cash management fee equal to 3% of the gross proceeds of the placement, a 3% capital raising fee on funds raised by GBA Capital and 6 million lead manager options on the same terms as the placement options.

Use of Proceeds

The placement proceeds will be used to fund (i) the acquisition of a 66.7% interest in a Nigerian hard rock lithium portfolio from Continental Lithium Limited[1] , (ii) landholding and mineral claims maintenance costs, (iii) exploration activities, and (iv) corporate and administration costs.

1 See ASX announcement dated 10 July 2025

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Level 5, 191 St Georges Terrace Perth WA 6000 chariotcorporation.com ABN 13 637 559 847

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Capital Structure

Following the issue of the placement shares, the Company’s capital structure will be as follows:

	Current	New Issuance	Total Post- Issuance
Shares	162,803,816	32,000,000	192,803,816
Options – $0.10 expiring 21/07/2028	-	22,000,000	22,000,000
Options - $0.30 expiring 17/10/2025	7,795,000	-	7,795,000
Options – $0.30 expiring 7/6/2026	62,500	-	62,500
Options – $0.60 expiring 7/6/2026	62,500	-	62,500
Options - $0.35 expiring 17/10/2025	7,795,000	-	7,795,000
Options – $0.90 expiring 7/6/2027	100,000	-	100,000
Options – $1.20 expiring 7/6/2027	150,000	-	150,000
Options – $1.50 expiring 7/6/2027	375,000	-	375,000
Options – $0.585 expiring 27/10/2026	1,000,000	-	1,000,000
Performance Rights – Class B	1,300,000	-	1,300,000
Performance Rights – Class C	1,500,000	-	1,500,000
Performance Rights – Class D	2,000,000	-	2,000,000
Performance Rights – Class E	750,000	-	750,000
Performance Rights – Class F	400,000	-	400,000

Chariot would like to thank all shareholders and new investors for your continued support.

Authorised on behalf of the Board of Directors.

Shanthar Pathmanathan Managing Director Chariot Corporation Ltd

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Level 5, 191 St Georges Terrace Perth WA 6000 chariotcorporation.com ABN 13 637 559 847

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Important Notice

Statements in this announcement are made only as of the date of this announcement unless otherwise stated and the information in this announcement remains subject to change without notice.

corporate, their respective officers, directors, employees, advisors and agents or any other person accepts any liability as to or in relation to the accuracy or completeness of the information, statements, opinions or matters (express or implied) arising out of, contained in or derived from this announcement or any omission from this announcement or of any other written or oral information or opinions provided now or in the future to any person.

This announcement may contain some references to forecasts, estimates, assumptions and other forward-looking statements. Although the Company believes that its expectations, estimates and projected outcomes are based on reasonable assumptions, it can give no assurance that they will be achieved.

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Level 5, 191 St Georges Terrace Perth WA 6000 chariotcorporation.com ABN 13 637 559 847

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About Chariot

About Chariot

Chariot Corporation Limited is a mineral exploration company focused on discovering and developing high-grade and near surface lithium opportunities in the United States. Chariot has twelve (12) lithium projects, including two core projects (the “Core Projects”) and a number of exploration pipeline projects which Chariot majority owns and operates. The Core Projects include Chariot’s flagship Black Mountain Project (which is prospective for hard rock lithium) in Wyoming, USA and the Resurgent Project (which is prospective for claystone lithium) in Nevada and Oregon, USA. Initial survey results from the Core Projects indicate high-grade lithium mineralisation at surface.

Chariot holds an interest in six exploration pipeline projects located in Wyoming, USA, including, the Copper Mountain Project, the South Pass Project and four other hard rock lithium projects.

Chariot also holds an interest in applications for seven (7) exploration licences in the highly prospective Southern Cross Greenstone Belt, Western Australia. The Southern Cross Greenstone Belt, one of Western Australia’s most significant gold-producing regions with over 150 mines, is now emerging as a key region for LCT pegmatites.

Chariot holds an interest in a hard rock lithium project in Zimbabwe. The Zimbabwe project licences are in the process of being relinquished.

In addition, Chariot holds a portfolio interest in certain properties prospective for claystone hosted lithium located in the State of Nevada in the United States through its interest in Mustang Lithium LLC.

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Level 5, 191 St Georges Terrace Perth WA 6000 chariotcorporation.com ABN 13 637 559 847

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