GLOBAL LITHIUM RESOURCES LIMITED — Capital/Financing Update 2021

Dec 22, 2021

GLOBAL LITHIUM ACQUIRES 80% INTEREST IN MANNA LITHIUM PROJECT

Key Highlights:

• Global Lithium to acquire 80% of the lithium rights in the Manna Lithium Project from Breaker Resources NL ( ASX:BRB ).

• Outcropping spodumene bearing pegmatite lithium exploration project with individual pegmatite dykes up to 18 meters wide.

• Initial drilling within the main outcrop demonstrates high-grade lithium mineralisation, with significant results, including:[1]

• 17m @ 1.80% Li2O from 36m in BMRC0009;

• 14m @ 1.03% Li2O from 92m in BMRC0001; and

• 17m @ 1.54% Li2O from 38m in BMRC0022.

• Significant exploration upside within the 5.0km x 1.5km LCT anomalous area centred on the main outcrop with recent drilling confirming a new discovery 350m south of the main outcrop.

• Substantial exploration and drilling program being planned for 2022 to progress towards a maiden Mineral Resource.

• Acquisition consistent with Global Lithium’s growth strategy through complementary acquisitions.

Global Lithium Resources Limited ( ASX:GL1 ) ( Global Lithium or the Company ) is pleased to advise that it has entered into an agreement to acquire an 80% interest in the exploration and future mining rights to lithium and lithium associated co-mineral rights in the Manna Lithium Project from Breaker Resources NL ( Breaker ) for up to $33.0 million total consideration, comprising $13.0 million upfront consideration and up to $20.0 million deferred consideration (the Transaction ).

Manna Project Overview

The Manna Lithium Project ( Manna or the Project ) is an outcropping spodumene and lepidolite bearing pegmatite exploration project located approximately 100km east of Kalgoorlie, Western Australia. The Project has an area of influence of 750m x 130m in the main outcrop with individual pegmatite dykes up to 18 meters wide ( Manna 1 ). Recent drilling over an anomalous area of 350 metres to the south of Manna 1 has confirmed the discovery of a new zone of spodumene-rich pegmatites ( Manna 2 ).

1 Refer to the Appendix and Annexures attached to this announcement.

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Figure 1: Detailed Plan View of Drilling at the Manna Lithium Project[2]

Global Lithium Chairman Warrick Hazeldine said:

“ This is a strategic acquisition for Global Lithium and follows a rigorous assessment on pathways to grow our asset base for the benefit of all shareholders. It delivers on our objective of growing the Company’s business through complementary acquisitions and diversifying through the acquisition of Manna will deliver the Company another highquality project located in an infrastructure rich, Tier-1 jurisdiction.

The early exploration work at Manna is highly encouraging and Global Lithium looks forward to partnering with Breaker Resources on a substantial exploration and drilling program at Manna in 2022 to capitalise on the global demand for quality lithium assets.”

Breaker Resources Chairman Peter Cook said:

“ We are delighted to have entered into this agreement to partner with Global Lithium and its industry leading shareholders to further explore and advance the Manna Lithium Prospect toward a commercial outcome.

The transaction provides Breaker what it needs at this point with cash and shares to provide the Company flexibility to fund its intensive efforts on its Lake Roe Gold Project without an imminent fund raising and upside milestone payments based on discovery and production outcomes. It allows the Company to continue its focus on our core business of exploring and developing Lake Roe whilst participating in any success at Manna.

Our Breaker team has done a terrific job advancing Lake Roe and establishing a discovery at Manna and we look forward to the advancement of both assets which should create substantial wealth for our loyal shareholders.”

2 Refer to the Appendix and Annexures attached to this announcement.

Transaction Highlights

• Global Lithium, through its wholly owned subsidiary GLR Australia Pty Ltd, acquires an 80% interest in the exploration rights and future mining rights to lithium and lithium associated co-mineral rights ( LCT Rights ) in the Manna Lithium Project, being the defined project area (see map in Figure 4) ( Project Area )

• Total purchase consideration of up to $33.0 million comprised of:

• $13.0 million upfront consideration, comprising:

  • $6.5 million cash; and

  • $6.5 million payable in fully paid ordinary shares ( Shares ), being 10,268,229 Shares issued at Global Lithium’s 5-day VWAP up to and including 21 December 2021 (being $0.6330). Breaker will be required to hold the Shares for a minimum period of 3 months from their date of issue.

The upfront consideration is payable by 31 December 2021. The Shares will be issued pursuant to Global Lithium’s existing placement capacity under ASX Listing Rule 7.1. Shareholder approval is not required for the Transaction.

• $20.0 million deferred consideration, comprising:

  • $10.0 million payable upon Global Lithium announcing a JORC Mineral Resource of at least 250,000 tonnes of contained Li2O metal derived from the Project Area (with a cut-off grade of at least 0.5%); and

  • $10.0 million payable upon Global Lithium announcing the production of 100,000 tonnes of contained Li2O metal produced from the Project Area.

• Global Lithium will sole fund exploration in relation to LCT Rights until completion of a definitive feasibility study ( DFS ) within 5 years from completion of the Transaction. If a DFS is not completed within 5 years, the parties’ interest in the Project Area will revert to 50% each (to be held in a joint venture).

• Upon the issue of any mining lease ( ML ) over an area forming part of the Project Area, the transaction arrangements facilitate the transfer of the ML to Global Lithium in proportion to its participating interest at the time of transfer.

• As part of the Transaction, Breaker has granted Global Lithium a first right of refusal and a right of last refusal in respect of any proposed sale or farm-out opportunity with a third party to the extent primarily relating to any lithium rights in Breaker’s existing Lake Roe Tenement package.

• The full form documents (which comprise a sale agreement, a mineral rights agreement and a joint venture agreement) contain other customary provisions for an arrangement of this nature, including representations and warranties, the apportionment of expenditure between the parties, maintenance of key assets, rehabilitation costs and, in respect of the joint venture, pre-emptive rights, dilution mechanisms for failure to contribute, and the key decision making framework.

• Completion of the Transaction is not subject to any conditions precedent and is expected to occur by 31 December 2021.

• All other mineral rights in the Project Area remain with Breaker and Breaker retains the right at its cost to explore and mine for those minerals.

Manna is a recent virgin discovery of spodumene within outcropping pegmatites within Breaker’s land holdings proximal to its Lake Roe Gold Project.

First-pass rock-chip sampling identified widespread enrichment in lithium (up to 3.81% Li2O), tantalum (up to 366ppm Ta2O5) and niobium (up to 251ppm Nb2O5).[3] Surface mapping and geochemistry in late 2018 has defined chemical zoning typical of a spodumene-rich, lithium-caesium-tantalum (LCT) pegmatite system.

3 Refer to the Appendix and Annexures attached to this announcement.

In November 2018, 10 Reverse Circulation ( RC ) holes for 1,503m were drilled including five holes below the full extent of the 750m-long outcrop that all returned multiple significant intercepts of high-grade Li2O, including:[4]

• 17m @ 1.80% Li2O from 36m in BMRC0009; and

• 14m @ 1.03% Li2O from 92m in BMRC0001.

Auger geochemical drilling was completed in 2019, defining a coherent 5.0km x 1.5km northeast trending lithium anomaly centred on Manna 1 and demonstrating the significant scale and potential of the Manna pegmatite swam (see Figure 3).

In June 2019, four diamond holes for 282m were drilled for metallurgical testwork which returned positive outcomes for the potential production of commercial high-grade, low impurity spodumene concentrates by heavy liquid separation.

In November 2021, assays on 12 RC holes were drilled for 1,875m that confirmed the continuity of mineralisation at Manna 1. These results confirmed and expanded upon previous drill results with best results including:[5]

• 17m @ 1.54% Li ₂ O from 38m in BMRC0022;

• 9m @ 1.94% Li ₂ O from 219m in BMRC0021; and

• 6m @ 1.81% Li ₂ O from 43m in BMRC0020.

In addition, testing of a nearby anomaly at Manna 2 also confirmed the presence of a parallel Lithium bearing pegmatite system with limited testing returning best intercepts including:[6]

• 11m @ 1.16% Li ₂ O from 43m in BMRC0023; and

• 5m @ 1.58% Li ₂ O from 116m in BMRC0024.

==> picture [498 x 245] intentionally omitted <==

Figure 2: Drill section along BMRC0016-BMRC0017 - BMRC0023-BMRC0024[7]

4 Refer to the Appendix and Annexures attached to this announcement.

5 Refer to the Appendix and Annexures attached to this announcement.

6 Refer to the Appendix and Annexures attached to this announcement.

• 7 Refer to the Appendix and Annexures attached to this announcement.

Further drilling results and a completed JORC Table 1 are set out in the annexures to this announcement.

Next Steps

Global Lithium has already commenced planning for a substantial exploration and drilling campaign at the Manna Lithium Project in 2022 which is proposed to include:

• Applying systematic exploration approach to build on the targeting and drilling work already completed;

• Undertaking a broad drilling campaign to understand the extent of mineralisation in the immediate project vicinity and more regionally; and

• Working towards declaration of a maiden JORC Mineral Resource

==> picture [361 x 237] intentionally omitted <==

Figure 3: Manna – Anomalous coincident pathfinders (Li-Rb-Be-Sn-Cs) in auger; in relation to mapped outcrops and drilling[8]

8 Refer to the Appendix and Annexures attached to this announcement.

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----- Start of picture text -----

Lithium JV
Area
(green)
Manna
Project
Breaker
tenements
----- End of picture text -----

Figure 4: Manna Lithium Project JV Area

Global Lithium Advisors

Argonaut PCF acted as financial advisor and Corrs Chambers Westgarth acted as legal advisor to the Global Lithium.

About Global Lithium:

Global Lithium Resources Limited ( ASX:GL1 ) ( Global Lithium ) is an emerging lithium exploration company with the 100%-owned Marble Bar Lithium Project ( MBLP ) in the Pilbara region of Western Australia. Global Lithium has defined a maiden Inferred Mineral Resource of 10.5Mt @ 1.0% Li2O at its Archer deposit, confirming the MBLP as a significant new greenfields lithium discovery.

For more information on Global Lithium please visit the Company’s website: www.globallithium.com.au

Subject to completion of the Transaction, Global Lithium will have two premier lithium exploration projects in the tier 1 jurisdiction of Western Australia and is well funded following completion of its recent capital raising of $13.6 million.[9]

9 Refer ASX releases titled “$13.6m Raising – Yibin Tianyi Cornerstone Shareholder”, dated 1 November 2021 and “Shareholders strongly support investment by Yibin Tianyi”, dated 20 December 2021.

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Figure 5: Location map of Global Lithium’s projects .

About Breaker:

Breaker Resources NL’s ( ASX:BRB ) ( Breaker ) core focus is unlocking the potential of a major new greenfields gold district at its 100%-owned, 700km[2] Lake Roe Gold Project, located 100km east of Kalgoorlie, Western Australia.

For more information on Breaker please visit the Company’s website: www.breakerresources.com.au

Approved for release by the Board of Global Lithium Resources Limited.

For more information:

Jamie Wright

Victoria Humphries

Managing Director Media & Investor Relations info@globallithium.com.au victoria@nwrcommunications.com.au +61 8 6103 7488 +61 (0) 431 151 676

Appendix

Competent Persons Statement:

Exploration Results

The information in this announcement that relates to Exploration Results for the Manna Lithium Project complies with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) and is based on, and fairly represents, information and supporting documentation prepared by Mr Bryan Bourke, a consultant to Global Lithium Resources Limited and an employee of Bourke and Associates. Mr Bourke is a member of the Australasian Institute of Geoscientists. He 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 JORC Code. Mr Bourke considers that the information in the market announcement is an accurate representation of the available data and studies for the mining project. Mr Bourke consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

The information in this announcement that relates to Exploration Results for the Manna Lithium Project was first disclosed by Breaker Resources NL under the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code). For further details, refer to Breaker’s ASX announcements of:

• 26 November 2021 titled ‘Manna opens up’

• 31 October 2021 titled ‘Quarterly activities report’

• 14 October 2021 titled ‘Boom in a Room Conference’

• 23 August 2021 titled ‘Drilling to grow Manna discovery’

• 31 January 2021 titled ‘Quarterly activities report’

• 19 July 2019 titled ‘Quarterly activities report’

• 1 May 2019 titled ‘Quarterly activities report’

• 13 November 2018 titled ‘High-grade lithium discovery at Lake Roe’

• 19 October 2018 titled ‘Annual Report'

• 30 April 2018 titled ‘Quarterly activities report’

Mineral Resources

Information on historical exploration results and Mineral Resources for the Marble Bar Lithium Project presented in this announcement, together with JORC Table 1 information, is contained in the Independent Geologists Report within the Company’s Prospectus dated 22 March 2021, which was released as an ASX announcement on 4 May 2021.

The Company confirms that it is not aware of any new information or data that materially affects the information in the relevant market announcements, and that the form and context in which the Competent Persons findings are presented have not been materially modified from the original announcements.

Where the Company refers to Mineral Resources for the Marble Bar Lithium Project (MBLP) in this announcement (referencing previous releases made to the ASX), it confirms that it is not aware of any new information or data that materially affects the information included in that announcement and all material assumptions and technical parameters underpinning the Mineral Resource estimate in that announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons findings are presented have not materially changed from the original announcement .

Annexure 1: Significant Drilling Results

Hole_lD	Prospect	North	East	**RL **	**Dip **	**Azimuth **	Depth	From	To	Length	Li20%	SampleType
BMRC0016	Manna	6584381	455441	422	-59	317	180	5	8	3	0.69	RC Chips
								13	14	1	0.93	RC Chips
								40	41	1	1.08	RC Chips
								43	45	2	1.15	RC Chips
								61	67	6	1.22	RC Chips
	Including							65	66	1	2.01	RC Chips
								74	77	3	0.81	RC Chips
								103	105	2	0.85	RC Chips
								114	117	3	1.13	RC Chips
								134	139	5	0.59	RC Chips
								142	147	5	0.85	RC Chips
BMRC0017	Manna	6584344	455468	421	-60	316	222	9	10	1	0.50	RC Chips
								19	21	2	0.98	RC Chips
								52	55	3	0.42	RC Chips
								68	70	2	1.11	RC Chips
								96	97	1	0.86	RC Chips
								102	103	1	1.10	RC Chips
								118	125	7	1.05	RC Chips
								143	144	1	0.49	RC Chips
								155	157	2	0.91	RC Chips
								163	166	3	1.39	RC Chips
	Including							164	165	1	2.19	RC Chips
								180	189	9	1.18	RC Chips
BMRC0018	Manna	6584491	455594	426	-60	310	180	3	4	1	0.91	RC Chips
								9	11	2	0.95	RC Chips
								48	51	3	1.24	RC Chips
								59	62	3	1.10	RC Chips
								64	66	2	1.42	RC Chips
								77	79	2	1.00	RC Chips
								109	112	3	0.58	RC Chips
								125	126	1	0.42	RC Chips
								133	135	2	1.65	RC Chips
	Including							133	134	1	2.32	RC Chips
								147	149	2	0.68	RC Chips
								154	155	1	0.97	RC Chips
								164	165	1	0.85	RC Chips
								168	171	3	1.04	RC Chips
BMRC0019	Manna	6584455	455628	424	-58	315	213	30	31	1	0.60	RC Chips
								38	40	2	1.08	RC Chips
								66	68	2	0.88	RC Chips
								95	98	3	0.63	RC Chips
								120	124	4	0.97	RC Chips
								168	169	1	1.72	RC Chips
								186	189	3	2.06	RC Chips
	Including							187	188	1	2.56	RC Chips
BMRC0020	Manna	6584559	455693	420	-61	317	192	21	27	6	1.64	RC Chips
	Including							25	26	1	2.71	RC Chips
								33	35	2	1.61	RC Chips
	Including							33	34	1	2.14	RC Chips
								43	49	6	1.81	RC Chips
	Including							44	48	4	2.07	RC Chips
								55	61	6	1.45	RC Chips
								110	115	5	1.61	RC Chips
	Including							111	112	1	2.30	RC Chips
	and							113	114	1	2.57	RC Chips
								179	185	6	1.48	RC Chips
	Including							182	184	2	2.25	RC Chips

==> picture [467 x 438] intentionally omitted <==

----- Start of picture text -----

Hole_lD Prospect North East RL Dip Azimuth Depth From To Length Li20 % Sample Type
BMRC0021 Manna 6584578 455795 416 -60 323 240 71 73 2 1.07 RC Chips
76 78 2 0.89 RC Chips
83 89 6 1.44 RC Chips
Including 84 85 1 2.52 RC Chips
and 87 88 1 2.04 RC Chips
100 104 4 1.36 RC Chips
Including 102 103 1 2.12 RC Chips
112 114 2 0.83 RC Chips
121 123 2 0.86 RC Chips
130 135 5 0.89 RC Chips
219 228 9 1.94 RC Chips
Including 222 225 3 2.22 RC Chips
and 227 228 1 2.65 RC Chips
231 232 1 0.64 RC Chips
BMRC0022 Manna 6584675 455844 416 -60 324 210 19 21 2 0.50 RC Chips
38 55 17 1.54 RC Chips
77 78 1 1.08 RC Chips
80 87 7 0.64 RC Chips
114 116 2 0.91 RC Chips
145 147 2 0.55 RC Chips
151 152 1 0.40 RC Chips
170 171 1 0.47 RC Chips
183 186 3 1.92 RC Chips
BMRC0023 Manna 6584121 455660 423 -60 318 90 35 40 5 0.80 RC Chips
43 54 11 1.16 RC Chips
Including 48 53 5 1.85 RC Chips
BMRC0024 Manna 6584082 455691 425 -59 315 132 103 105 2 0.78 RC Chips
110 111 1 1.10 RC Chips
116 121 5 1.58 RC Chips
Including 116 119 3 2.15 RC Chips
BMRC0025 Manna 6584011 455488 426 -60 323 90 49 50 1 0.59 RC Chips
52 54 2 0.44 RC Chips
55 56 1 0.40 RC Chips
58 59 1 0.48 RC Chips
BMRC0026 Manna 6583977 455534 427 -60 326 102 86 87 1 0.41 RC Chips
89 93 4 0.53 RC Chips
BMRC0027 Manna 6583409 454680 431 -60 319 24 13 14 1 0.50 RC Chips
----- End of picture text -----

Annexure 1 Notes

• True width is estimated at approximately 85% of down-hole length

• Significant intercepts are reported at >0.4% Li2O, with maximum 3m internal dilution

• MGA coordinates; Zone 51

Annexure 2: JORC Code (2012 Edition) Table 1

SECTION 1: SAMPLING TECHNIQUES AND DATA

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.	RC drill holes were drilled to variable depths under supervision of a geologist. RC samples were cone split in 1m intervals to produce a ~3kg sample. Any damp or wet samples were kept in the green plastic bag, placed in the rows of samples and a representative spear or scoop sample taken.
	Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.	RC sampling was undertaken using Breaker Resources’ (BRB) sampling protocols and QAQC procedures in line with industry best practice, including standard and duplicate samples.
	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 1m samples from which 3kg was pulverised to produce a 30g 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.	All RC samples were analysed by MinAnalytical Laboratories or Bureau Veritas using a sodium peroxide fusion digest and ICP-MS finish after initial crushing and pulverisation.
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.).	RC drilling was undertaken using a face- sampling percussion hammer with 5½” bit.
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed.	RC drilling recoveries were visually estimated as a semi-qualitative range and recorded on the drill log along with moisture content.
	Measures taken to maximise sample recovery and ensure representative nature of the samples.	RC holes were collared with a well-fitting stuff box to ensure material to the outside return was minimised. Drilling was undertaken using auxiliary compressors and boosters to keep the hole dry and lift the sample to the sampling equipment. Drill cyclone and cone splitter were cleaned regularly between rod-changes if

Criteria	JORC Code explanation	Commentary
		required and after each hole to minimise down hole or cross-hole contamination.
	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.	There is no observable relationship between recovery and grade, or preferential bias in the RC drilling at this stage.
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.	Drill holes were logged for lithology, alteration, mineralisation, structure, weathering, wetness and obvious contamination by a geologist. Data is then captured in a database..
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography.	RC logging is both qualitative and quantitative in nature and captures downhole depth, colour, lithology, texture, mineralogy, mineralisation, alteration and other features of the samples.
	The total length and percentage of the relevant intersections logged.	All drill holes were logged in full and all sample sites were described.
Sub-sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken.	Not core.
	If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.	RC samples were split 87.5%-12.5% by a stand-alone multi-tiered riffle splitter. The majority of the samples were recorded as dry and minimal wet samples were encountered. Sample duplicates were obtained by re- splitting the remaining bulk sample contained in a plastic bag in the field using the multi-tier riffle splitter. Whole samples were crushed and pulverised.
	For all sample types, the nature, quality and appropriateness of the sample preparation technique.	The samples were sent to an accredited laboratory for sample preparation and analysis. All samples were sorted, dried pulverised to -75μm to produce a homogenous representative sub-sample for analysis. A grind quality target of 85% passing -75μm has been established.
	Quality control procedures adopted for all sub- sampling stages to maximise representivity of samples.	No sub-sampling undertaken.
	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.	Certified Reference Materials and sample duplicates for RC drilling are taken at least three times in every 100 samples.
	Whether sample sizes are appropriate to the grain size of the material being sampled.	2-3kg sample size is considered fit for purpose.

Criteria	JORC Code explanation	Commentary
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.	Industry standard procedures considered appropriate with a peroxide fusion (total dissolution) as standard four acid digest is not considered strong enough to break down the highly resistive elements.
	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.	Not relevant; no geophysical tool used.
	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.	MinAnalytical used Certified Reference Materials and/or in house controls, blanks, splits and replicates which are analysed with each batch of samples. These quality control results are reported along with the sample values in the final report. Selected samples are also re-analysed to confirm anomalous results.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel.	Results verified by alternative Company personnel.
	The use of twinned holes.	Not relevant at this preliminary stage.
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.	Primary geological and sampling data were recorded digitally and on hard copy respectively, and are subsequently transferred to a digital database where it is validated by experienced database personnel assisted by the geological staff. Assay results are merged with the primary data using established database protocols run in house by BRB.
	Discuss any adjustment to assay data.	The Company has not adjusted any assay data, other than to convert Lithium (ppm) to Li2O (%)
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.	Handheld GPS used to initially record RC locations (+/- 5 metre accuracy), followed by DGPS surveyor pickup.
	Specification of the grid system used.	GDA94 (MGA) Zone 51 Southern Hemisphere.
	Quality and adequacy of topographic control.	Fit for purpose.
Data spacing and distribution	Data spacing for reporting of Exploration Results.	Yes.

	Criteria		JORC Code explanation	Commentary
			Whether the data spacing and distribution is	Yes
			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	No.
			applied.
	Orientation of data in		Whether the orientation of sampling achieves	RC drilling across the entire width of pegmatite
	relation to geological		unbiased sampling of possible structures and	produces a relatively unbiased representative
	structure		the extent to which this is known, considering	sample.
			the deposit type.
			If the relationship between the drilling	An estimated true width adjustment of
			orientation and the orientation of key	approximately 85% is reported for RC drilling
			mineralised structures is considered to have	lengths.
			introduced a sampling bias, this should be
			assessed and reported if material.
	Sample security		The measures taken to ensure sample	Samples submitted were systematically
			security.	numbered and recorded, bagged in labelled
				polyweave sacks and dispatched in batches to
				the laboratory’s Kalgoorlie facility by BRB
				personnel. The laboratory confirms receipt of
				all samples on the submission form on arrival.
				All assay pulps are retained and stored in a
				Company facility for future reference if
				required.
	Audits or reviews		The results of any audits or reviews of	No formal audits/reviews have been
			sampling techniques and data.	conducted on sampling technique or data to
				date.
Page 14 of 16	ACN		626 093 150	ASX: GL1
Suite 8, 7 The Esplanade, Mt		Pleasant, WA 6153
info@globallithium.com.au	www.globallithium.com.au

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 drilling and rock chip samples are located on tenement E28/2522, in which Breaker is the registered holder. Subject to completion of the Transaction, Global Lithium Resources Limited will hold an 80% interest in the LCT Rights (as further described in the announcement to which this table is annexed).
	The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	The tenement is in good standing and no known impediments exist.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	No previous exploration or identification of lithium mineralisation is recorded in the area or historical exploration observed.
Geology	Deposit type, geological setting and style of mineralisation.	Typical LCT pegmatite model occurring as swarms of dykes in a preferred corridor orientation.
Drill hole Information	A summary of all information material to the understanding 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.	Refer to Annexure 1 for significant results from the RC drilling. Drill hole and rock chip locations are described in the body of the text, in Annexure 1 and on related Figures.
Data aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg. cutting of high grades) and cut-off grades are usually Material and should be stated.	No data aggregation methods have been employed; results are reported “as-is” from the laboratory.
	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.	Where relevant, all reported results have been arithmetic length weighted.

Criteria	JORC Code explanation	Commentary
	The assumptions used for any reporting of metal equivalent values should be clearly stated.	None undertaken.
Relationship between mineralisation widths and intercept lengths	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. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg. ‘down hole length, true width not known’).	An estimated true width adjustment of approximately 85% is reported for RC drilling and rock chip sampling lengths.
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.	Refer to Figures and Tables in the body of the text.
Balanced reporting	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 results comprehensively 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.	There is no other substantive exploration data.
Further work	The nature and scale of planned further work (eg. 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.	Further work is planned as stated in this announcement.