GLOBAL LITHIUM RESOURCES LIMITED — Capital/Financing Update 2021

Dec 19, 2021

SHAREHOLDERS STRONGLY SUPPORT CORNERSTONE INVESTMENT BY YIBIN TIANYI

GLOBAL LITHIUM POISED FOR SIGNIFICANT GROWTH IN 2022

Pilbara-focused lithium explorer, Global Lithium Resources Limited ( ASX: GL1 , Global Lithium or the Company ) is pleased to advise that at the Company’s General Meeting held this morning, shareholders overwhelmingly approved the $6.2 million placement to Yibin Tianyi Lithium Industry Co Ltd ( Yibin Tianyi ) (or its nominee). Yibin Tianyi will now hold a 9.9% interest in Global Lithium.

Yibin Tianyi is the lithium chemical arm of the world’s largest EV battery producer Contemporary Amperex Technology Co. Limited ( CATL ) and is the largest supplier of lithium hydroxide to CATL, operating a 20ktpa lithium hydroxide plant in Yibin, Sichuan province. By the end of CY2021, Yibin Tianyi plans to commission a further 25ktpa of capacity and a further Stage 3 expansion for 110ktpa by the end of 2024, making them one of the largest lithium chemical suppliers in China.

Yibin Tianyi is a highly regarded lithium hydroxide producer that operates as a joint venture between Suzhou TA&A Ultra Clean Technology Co. Ltd (SZSE: 300390) ( Suzhou TA&A ) (68%) and CATL (SZSE: 300750) (25%). CATL is the world’s largest EV battery producer.

Global Lithium Chair, Warrick Hazeldine said , “Having a well-respected group like Yibin Tianyi partner with us is a strong vote of confidence for our company and we welcome them onto our register as a cornerstone shareholder. We look forward to working together progressing our dynamic portfolio of assets and building our relationship over time.”

Global Lithium is well funded with a cash balance of $7.3 million as at 30 September 2021 and has now completed the $13.6 million capital raising[1] announced 1 November 2021.

Funds will be used to continue the aggressive exploration of the Company’s exciting Marble Bar Lithium Project (MBLP), including the planned 60,000m drilling campaign commencing in Q1 2022, as well as for considering complementary acquisitions where the Company considers they add value for shareholders.

1 Refer ASX release titled “$13.6m Raising – Yibin Tianyi Cornerstone Shareholder”, dated 1 November 2021.

The MBLP is situated close to major road infrastructure, with direct links into Port Hedland, where bulk commodities, including spodumene concentrate, are currently being exported ( Figure 1 ). The MBLP is also located approximately 15km from the town of Marble Bar, which provides ready access to services and skills.

==> picture [312 x 341] intentionally omitted <==

Figure 1 : Marble Bar Lithium Project location map.

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

About Global Lithium

Global Lithium Resources Limited (ASX:GL1, Global Lithium) is an emerging lithium exploration company with a primary focus on 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.

Directors

Warrick Hazeldine Non-Executive Chair Jamie Wright Managing Director Dr Dianmin Chen Non-Executive Director

Capital Structure Shares on issue: 151,579,181 fully paid ordinary shares Options on issue: 4,780,614 options with an exercise price of $0.30 per option and an expiry of 6 May 2025

Performance Rights: 5,000,000 performance rights, subject to certain performance milestones

Competent Persons Statement:

Information on historical exploration results and Mineral Resources 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 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 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 with 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 .