DELTA LITHIUM LIMITED — Capital/Financing Update 2020

Nov 25, 2020

ASX Announcement 26 November 2020

==> picture [150 x 52] intentionally omitted <==

DRILLING COMMENCES ON SCHEDULE AT EUREKA GOLD PROJECT

Highlights:

• 10,200m reverse circulation drilling program now underway at Eureka

• Targeting high-grade extensions of existing resource below the historic open pit

• Eureka tenement package includes 5.7km strike of the Bardoc Tectonic Zone host to deposits such as Paddington and Zoroastrian

• Additional key exploration targets in lateritic profile at north end of pit, and northern splays off the Bardoc Tectonic Zone structure on known gold occurrences

• Rig to relocate to Warriedar Gold Project on completion of Eureka RC program

• Eureka & Warriedar Projects:

  • Historical gold production

  • Granted Mining Leases (MLs) in place on core project areas

  • Strike and depth potential of mineralisation largely untested

  • Walk-up drill targets already defined

TNT Mines Limited (ASX: TIN) ( TNT or the Company ) is pleased to announce that reverse circulation (RC) drilling has started at Warriedar Mining’s Eureka Gold Project, approximately 50km north of Kalgoorlie in the West Australian goldfields. Warriedar is conducting a 10,200m program of RC drilling at Eureka, focusing on identifying high-grade extensions to existing mineralisation below the historic open pit located on the project tenements and testing structures to the north and south of the pit.

==> picture [396 x 369] intentionally omitted <==

Matt Boyes, CEO with Strike Drilling commence maiden RC program at Eureka

ASX Announcement 26 November 2020

==> picture [151 x 52] intentionally omitted <==

TNT has executed a binding agreement to acquire 100% of Warriedar Mining Pty Ltd, as announced on 23 October 2020, which is subject to approval by the Company’s shareholders at the Annual General Meeting to be held on 30 November 2020.

==> picture [495 x 408] intentionally omitted <==

Figure 1: Eureka Gold Project location plan and regional simplified geological setting

Previous drilling at the Project has defined a JORC 2012 Inferred and Indicated Mineral Resource of 43,100 ounces of gold as detailed in Table 1 below.

Current Mineral Resources[1 ]

**ral Resources1 **
Category	Tonnes	Gradeg/t	Ounces Au
Indicated	434,000	1.80	25,200
Inferred	328,000	1.70	17,900
Total	762,000	1.80	43,100

Table 1: Eureka JORC (2012) compliant Mineral Resources reported at 0.50g/t Au cut-off

1 Refer to Note 1

ASX Announcement 26 November 2020

==> picture [151 x 52] intentionally omitted <==

==> picture [568 x 465] intentionally omitted <==

Figure 2: Eureka Along Strike and Down Dip Potential Untested

*Refer to ASX: TIN announcement 23 October 2020 “TNT Acquires Historic Western Australian Gold Project”

ASX Announcement 26 November 2020

==> picture [151 x 52] intentionally omitted <==

Figure 3: Near Pit Exploration Targets

Eureka is located on granted Mining Leases close to multiple operating conventional gold mills. Its proximity to Kalgoorlie provides for convenient access to all the support services required for mining and exploration activities.

The recent addition of adjacent prospecting licence P24/5116 to the Eureka landholding has added new exploration opportunities and on success will allow the flexibility to expand the dimension of the existing open pit directly to the west and into the footwall of the pit.

==> picture [595 x 109] intentionally omitted <==

----- Start of picture text ----- TNT Mines | ACN 107 244 039 | tntmines.com.au----- End of picture text -----

ASX Announcement 26 November 2020

==> picture [151 x 52] intentionally omitted <==

The Project will be acquired by TNT through the acquisition of privately owned Warriedar Mining Pty Ltd, announced on 23 October 2020 (ASX Announcement, 23 October 2020 “ TNT Acquires Historic Western Australian Gold Projects ”. TNT shareholders will vote on resolutions associated with the Warriedar acquisition at the Company’s Annual General Meeting, to be held in Perth on Monday, 30 November, 2020.

Upon completion of the initial Eureka drilling program, an RC and diamond program of up to 5,000m is expected to be carried out at the Warriedar Gold Project, 50km north-west of Paynes Find in WA’s Murchison district, which was also acquired through the purchase of Warriedar Mining Pty Ltd.

Assay results from both programs will be reported as they become available.

--Ends--

Authorised for lodgement by the Board.

For further information, please contact:

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

Note 1. Additional notes to Mineral Resource estimation

The Mineral Resource as presented in Table 1 have been estimated on the basis of historical and recent drilling at the Project by Independent consulting resource geologist Richard Maddocks. Further details of the Mineral Resource estimation are provided in ASX:TIN 23[rd] October 2020 ‘ TNT Acquires Historic Western Australian Gold Projects ’.

The aggregate resource figures referenced in this announcement is broken down into JORC-compliant resource categories as set out below.

Competent Persons Statement

The information in this report that relates to Exploration Targets and Mineral Resource estimates is based on information compiled by Richard Maddocks, a Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy. Richard Maddocks is an independent consultant to Warriedar Mining Pty Ltd. Mr Maddocks 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 Mineral Resources and Ore Reserves’. Mr. Maddocks consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

==> picture [595 x 109] intentionally omitted <==

----- Start of picture text ----- TNT Mines | ACN 107 244 039 | tntmines.com.au----- End of picture text -----