DELTA LITHIUM LIMITED — Capital/Financing Update 2019

Jul 10, 2019

ASX Announcement 11 July 2019

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AGREEMENT TO SELL TASMANIAN TIN AND TUNGSTEN PROJECTS

TNT Mines Ltd (ASX: TIN, “TNT” or “the Company”) is pleased to announce it has signed a binding Letter of Intent (“LOI”) with private Canadian company TinOne Resources Ltd (“TinOne”) for the sale of its tin-tungsten assets in north-eastern Tasmania.

The binding LOI provides for a 30-day exclusivity period for TinOne to complete confirmatory due diligence and formal binding documentation for the acquisition of a 100% interest in the Aberfoyle and Great Pyramid tin and tungsten projects.

Completion of the sale is subject to and conditional on:

• TinOne completing its confirmatory due diligence to its satisfaction;

• execution of definitive purchase and sale documentation on terms mutually acceptable to all parties;

• TinOne securing funding to complete the initial payments due upon closing; and

• final TinOne Board approval.

Aberfoyle is located 57km south-east of Launceston and consists of three main prospects: the Storey’s Creek tungsten prospect, the Aberfoyle-Lutwyche-Kookaburra tin and tungsten mines and the Royal George tin deposit. Great Pyramid is a previously unmined property located 12km south-west of St Helens where tin mineralisation begins close to surface.

The total consideration for the acquisition is $1.1 million, payable to TIN in four stages:

• $50,000 on signing definitive transaction agreements within 30 days;

• $250,000 on the six-month anniversary of signing;

• $300,000 on the twelve-month anniversary of signing; and

• Final stage of $500,000 in cash or shares[1] for the 24-month anniversary of signing or upon listing of TinOne, whichever occurs first.[2]

Under the terms of the transaction, TinOne has agreed to assume all ongoing project costs and keep the licences in good standing from the date of execution of the definitive transaction documents until completion of the acquisition.

As noted above, along with the satisfactory completion of due diligence and execution of definitive transaction documents, the transaction is subject to TinOne securing funding for the initial payments due on closing and the final approval of the TinOne Board.

TNT Executive Chairman Brett Mitchell said: “ We are extremely pleased to have entered into this agreement with TinOne for the sale of our Tasmanian tin and tungsten assets and look forward to working with them towards the completion of final documentation. Once the transaction is finalised, all the Company’s resources will be fully focused on imminent drilling program at the Pelley Ridge zinc project in Montana, and the ongoing identification of other complementary assets in North America.”

1 Listing to be on a recognised stock exchange such as the ASX, TSX-V, CSE or AIM.

2 If TinOne is not listed, the payment must be made in cash. If TinOne is listed on a recognised stock exchange, TNT may elect to take all the final tranche payment in shares, with the issue price determined as either TinOne’s VWAP for the five trading days prior to issue or the company’s initial public offering price.

ASX Announcement 11 July 2019

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ABOUT TINONE RESOURCES LIMITED: TinOne is a private British Columbia corporation with a portfolio of large tin exploration projects in New South Wales that present significant discovery potential. The company was formed to capitalise on the electric vehicle applications of tin and has the vision of establishing itself as a leading tin explorer and developer. The company’s senior management comprises of:

Craig Parry, Executive Chairman: Mr Parry has more than 18 years’ experience in the resources sector. He is a co-founder and senior adviser to TSX and NYSE-listed uranium company Nexgen Energy and the current President and Chief Executive Officer of TSX-V listed uranium company IsoEnergy Ltd. Mr Parry is also a co-founder and Partner of private natural resources investment company Inventa Capital Corp and a founding shareholder of specialist resources private equity manager EMR Capital.

Stuart Smith, Lead Technical Director: Dr Smith has 30 years’ experience in mineral exploration spanning the spectrum from global project generation to mine geology with a track record of discovery in brownfields and greenfields arenas. Until the end of 2018, he was Technical Director – Strategy & New Projects for Teck Resources Ltd based in Vancouver, Canada.

Michael Konnert, President: Mr Konnert is a co-founder and Partner of private natural resources investment company Inventa Capital Corp. and President and CEO of TSX-V listed copper explorer Vizsla Resources Corp. He is also President and CEO of leading North American vanadium developer V23 Resource Corp. and was previously co-founder and CEO of Cobalt One Energy Corp., which was acquired by ASX-listed Blackstone Minerals in 2017.

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For further information, please contact:

Media Enquiries TNT Mines Ltd Luke Forrestal Brett Mitchell Media and Capital Partners Executive Chairman +61 411 479 144 +61 8 6319 1900 luke.forrestal@mcpartners.com.au frontdesk@tntmines.com.au

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