CHARIOT RESOURCES LTD — Capital/Financing Update 2025

Feb 18, 2025

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ASX ANNOUNCEMENT

19 February 2025

Applications for High-Potential WA Lithium & Gold Tenements Secured

HIGHLIGHTS:

• Applications for seven (7) exploration licences in the highly prospective Southern Cross Greenstone Belt secured

• Southern Cross Greenstone Belt is a world-class mining district with deformed greenstone sequences, lithium-bearing pegmatites, and proximity to significant gold systems – it extends from the Earl Grey Lithium Mine (mineral resource estimate 189Mt @ 1.53% Li ₂ O[1] to north of the Marvel Loch Gold Centre

• while continuing to unlock value in Western Australia

Chariot Corporation Limited (ASX: CC9) (“ Chariot ” or the “ Company ”) is pleased to announce its seven (7) applications for exploration licences in the Southern Cross Greenstone Belt in Western Australia, which are held through a wholly owned subsidiary.

regions with over 150 mines, is now emerging as a key region for lithium-caesium-tantalum (LCT) pegmatites.

The recent application for E77/3274, together with the six prior applications, will establish a substantial exploration position for Chariot in the Southern Cross Greenstone Belt upon grant.

Chariot's strategic, countercyclical approach in Western Australia has enabled the Company to secure high-potential licenses relinquished by gold exploration companies in 2023 and lithium exploration companies in 2024 - positioning itself ahead of the next lithium exploration cycle.

Chariot has a strong track record in monetising lithium assets in Western Australia, highlighted by the profitable sale of fourteen (14) exploration licences to St George Mining Limited (“ St George Mining ”) in 2023. As part of the transaction with St George Mining, Chariot retained royalty and milestone payment interests, ensuring continued exposure to the upside potential of the sold licences.

Note 1: Refer Kidman Resources Limited ASX Announcement on 19 March 2018 titled: “Substantial increase in Earl Grey Mineral Resource Estimate”

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The Southern Cross Greenstone Belt

also emerging as a key lithium region. Notable nearby gold mines include:

Deposit		Historical Production
	Tonnes (kt)	Grade (g/t)	Ounces (oz)
Marvel Loch	24,883	2.52	2,014,000
Bounty	6,000	5.70	1,100,000
Yilgarn Star	7,200	4.63	1,072,000
Nevoria	4,464	3.05	437,000

Source: ERM’s GHM Independent Technical Assessment Report on the Southern Cross Tenements dated 25/10/24

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Figure 1: Map of the Chariot applications and selected lithium & gold mines

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

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The applications are strategically positioned between the Earl Grey Lithium Mine (189Mt @ 1.53% Li ₂ O) and the Marvel Loch Gold Centre, within the highly prospective Archean Yilgarn Craton, which is renowned for its lithium-caesium-tantalum (LCT) pegmatites and high-grade gold deposits.

Key geological attributes :

• Deformed greenstone sequences with late-stage granitic intrusions.

• Structural corridors hosting lithium-bearing pegmatites.

Priority Exploration Targets (Upon Grant)

• E77/3088 – Flagged as a high-potential target for both gold and lithium and will be the initial focus for exploration.

• E77/3274 – Contains the Gem rubellite bearing pegmatite and has gold exploration potential. The tenement lies within the mafic greenstone belt, which hosts the Earl Grey lithium deposit and Bounty gold deposit.

• E77/3076 & E77/3078 – Prospective for pegmatite hosted lithium, with potentially favourable structural settings.

Tenement ID	Status	Application Date	Size
E77/3076	Application	27/2/2023	2.91 km2
E77/3078	Application	27/2/2023	2.91 km2
E77/3084	Application	27/2/2023	5.82 km2
E77/3088	Application	27/2/2023	11.65 km2
E77/3216	Application	29/4/2024	5.82 km2
E77/3217	Application	29/4/2024	64.1 km2
E77/3274	Application	14/2/2025	2.91 km2

Western Australia Work Programs

Chariot has engaged ERM Sustainable Mining Services for a geological review of the applications. Upon grant, exploration activities at the tenements are proposed to include:

• Geological mapping

• Surface sampling

• Geochemical surveys

• Drill programs based on results

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

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While Chariot continues to unlock value from its Western Australia assets, the Company remains firmly focused on advancing its flagship Black Mountain Project in the U.S.

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.

In addition, the map of Chariot’s tenement applications included in this announcement contains references to selected lithium and gold mines in the region for contextual and informational purposes only. These references do not imply that mineralisation within Chariot’s applications is comparable to or indicative of mineralisation found at these third-party projects. The tenements shown are applications only and remain subject to the standard regulatory approval process. There is no guarantee that all or any of these applications will be granted, nor that any granted tenements will host economically viable mineralisation. Investors should not rely on the proximity of Chariot’s applications to other mineral deposits as a measure of their prospectivity.

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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

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 holds an interest in a hard rock lithium project in Zimbabwe which is prospective for spodumene bearing pegmatites.

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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