GLOBAL LITHIUM RESOURCES LIMITED — Capital/Financing Update 2021

Jun 16, 2021

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ASX: FEL

ASX Announcement

17 June 2021

SALE OF PILBARA EXPLORATION TENEMENTS

HIGHLIGHTS

• FEL to sell its Pilbara Exploration Tenements for $550,000 in cash plus trailing royalty on certain tenements

• Sale to occur via two separate transactions, which are expected to complete in coming weeks

• FEL to focus all funding and effort on its advanced iron ore projects

Fe Limited (ASX: FEL ) (the Company ) is pleased to advise that it has entered two separate binding agreements with Global Lithium Ltd (ASX:GL1) and Mercury Resources Group Pty Ltd (refer to summary of terms attached) to dispose of its Pilbara exploration tenure for a total cash consideration of $550,000, with a trailing royalty on certain of the tenements. FEL will continue to manage the Mercury tenements in return for a management fee.

Chairman’s Comment

FEL Executive Chairman Tony Sage commented “This transaction is consistent with our desire to focus our efforts and funds on our advanced iron projects. We are pleased to conclude these transactions which liberate funds for FEL while allowing Global Lithium to consolidate their landholding in the Marble Bar region. We look forward to continuing to support Mercury by managing their tenement position.”

Announcement released with authority of the FEL board of directors.

Yours faithfully FE LIMITED

Tony Sage Executive Chairman

For further information please contact:

Investor Relations

+61 8 6181 9793 ir@felimited.com.au

Follow us @FeLimited fe-limited

Fe Limited ABN: 31 112 731 638

32 Harrogate St, West Leederville, Western Australia 6007 Phone +61 8 6181 9793

Email admin@felimited.com.au

felimited.com.au

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Transaction Summary

Global Lithium Ltd

• Tenements E45/4724 and E45/4669 sold for $350,000 in cash

• Purchaser to assume the existing third party royalty obligation on the tenements

• Completion subject to standard conditions precedent including relevant third party consents

Mercury Resources Group Pty Ltd

• Tenements E45/4690, E45/4691, E45/4759 and E45/4746 sold for $200,000 in cash

• 1% Net Smelter Royalty payable to FEL on any product sales which occurs from the tenement package in the future

• FEL will continue to operate the tenements on Mercury’s behalf in return for a management fee

ASX Announcement