LIGHTNING MINERALS LTD — Capital/Financing Update 2024

Nov 17, 2024

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Spodumene Pegmatite Discovery at Esperança Project in Brazil Yields LIBS Results up to 4.04% Li2O

ASX Announcement 18[th] November 2024

Lightning Minerals (L1M or the Company) is delighted to announce the discovery of spodumene within a lithium bearing pegmatite at the Company’s recently acquired Esperança project. The discovery supports the Company’s approach to exploration in the district and its positive assessment of the prospectivity within the Lithium Valley region Minas Gerais, Brazil.

The discovery has been made during early-stage exploration programs which include project scale geological mapping, ground reconnaissance, and soil sampling. These early-stage programs remain ongoing with further results to come over the coming weeks. The discovery supports the Company’s exploration thesis and uplifts the remaining prospectivity across all three project areas: Canabrava, Caraíbas and Esperança projects.

HIGHLIGHTS

• Artisanal excavations reveal a lithium bearing pegmatite with elongate crystalline spodumene crystals up to 50cm in length

• LIBS (Laser Induced Breakdown Spectroscopy) results of spodumene crystals return up to 18,800 ppm Lithium, or 4.04% Li2O

• Discovery provides walk up drill target for fully funded drilling campaign to begin Q1 2025

• Soil sampling and geological mapping continues across the Esperança, Canabrava and Caraíbas projects with further results due over the coming weeks

l 6 505 Littl ~~e Collins St Melbour~~ Cautionary Note: ne VIC 3000 Australia | admin@lightningminerals.com.au | (08) 9429 8806 Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations. Throughout this document the company refers to “spodumene” or “spodumene-pegmatite”. While the Company is very encouraged by its geological observations, no quantitative assessment of mineralisation is possible for those observations, and they remain without certified laboratory assay. Spatial information regarding the pegmatite is not yet available and therefore no estimate of true width is given. Further, no forecast is made of whether this or drill testing will deliver ore grade intersections. The observed presence of spodumene within pegmatite does not necessarily equate to economic grades of lithium mineralisation until confirmed by chemical analysis which is currently underway. It is not possible to estimate the concentration of lithium in mineralisation by visual estimates, and the SciAps Z-903 handheld LIBS analysis reports only a tiny fraction of the crystal and is considered qualitative, whole rock chemical analysis from a certified laboratory and Raman spectroscopy will determine the true lithium content and confirm the mineral species respectively. Laboratory results of the samples are expected to be received and announced in Q1 2025.

Level 11 40 The Esplanade Perth WA 6000 Australia | admin@lightningminerals.com.au | (08) 9429 8806

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Lightning Minerals Managing Director Alex Biggs said , “I am highly encouraged by these results from Brazil. As I have spoken about, as a team we are committed to discovery and completing our works in a diligent and structured manner, the proof of which is in these results. The Company is progressing its projects in Brazil quickly and cost effectively and generating significant results for the business which we feel will be transformational. I am proud of and congratulate our geology teams both in Australia and Brazil who have conducted themselves in a professional and astute manner which has been crucial in making a discovery such as this. This is a great first step for us in Brazil and is testament to the prospectivity of the region as I have discussed previously. We look forward to drilling in Q1 2025 and further results to come imminently from all three project areas in Brazil. I would also like to thank our shareholders who have supported our vision and exploration strategy. As a Company we are firmly committed to the lithium thematic and firmly committed to Brazil where we see significant potential moving forwards”.

Lithium Discovery at Esperança Project

During geological mapping fieldwork conducted in mid-November 2024 field geologists encountered a previously unknown historical artisanal mine within the Esperança project area. The site presented with a small access which opened into a set of sub vertical shafts sunk several meters into schists of the Salinas formation. Upon investigation the geology team has discovered pegmatitic lithologies in the walls of the excavations, of which the suite of minerals indicates inclusion of macro crystalline (up to 50cm) elongate crystals of spodumene as shown in Figure 1(a) and Figure 1(b).

Figure 1a (left): Brazilian geologist Vitor Araujo Alves showing the spodumene rich portion of the zoned pegmatite discovered at the Esperança Property. Figure 1b (right): Large elongate spodumene crystals (Spd) up to 50cm in length showing homogeneous growth patterns amongst a quartz (Qtz) and Feldspar (Fdsp) rich matrix

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l 6 505 Little Collins St Melbourne VIC 3000 Australia | admin@lightningminerals.com.au | (08) 9429 8806
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The Company’s geologists have collected selective mineral specimen grab samples in sample VLM207 (Figure 2). Six separate minerals have been analysed via a SciAps Z-903 hand-held LIBS (Laser-Induced Breakdown Spectroscopy) device which has returned lithium endowment of up to 18,800 ppm lithium, which equates to a lithium oxide percentage of 4.04% Li2O.

The SciAps Z-903 handheld LIBS device is considered a qualitative analysis technique only and is used as an in-field preliminary check to establish if a mineral is lithium-bearing. Certified laboratory assays are required

Level 11 40 The Esplanade Perth WA 6000 Australia | admin@lightningminerals.com.au | (08) 9429 8806

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to provide accurate, quantitative analysis. A table of the six SciAps Z-903 handheld LIBS results testing the spodumene crystals is shown in Table 1. A full table of results are presented in Appendix 2, Table 2.

While the current field observations indicate that the mineral identified is a lithium-bearing mineral, the percentage of lithium produced from the LIBS analyser does not correlate to an accurate quantitative measurement of the lithium concentration of the mineral itself, or to the overall grade of the pegmatite.

Table 1: Results for SciAps Z-903 handheld LIBS testing of selective mineral sampling from sample VLM207

Sample ID	Sample Type	Lithology	Mineral % Estimate in Rock	LIBS ppm Results	LIBS Li2O Conversions	Lab Assay Result
VLM207	Selective Mineral Grab	Pegmatite Host rock consists of coarse- grained spodumene, quartz, feldspar and muscovite. Crystals spodumene are elongate and are moderately to highly weathered, exhibit a whitish colour.	Quartz - 55%, Spodumene 35% Feldspar - 5%, Muscovite - 5%	1.88% Li	**4.04% Li2O **	Pending
				1.16% Li	**2.49% Li2O **
				7072 ppm Li	**1.52% Li2O **
				1878 ppm Li	**0.40% Li2O **
				1.63% ppm Li	**3.50% Li2O **
				2452ppLi	**0.52% Li2O **

Figure 2: Weathered Spodumene crystals collected from artisanal workings within the Esperança project ( sample VLM207) . The crystals are taken within the saprolite zone and are friable, the weathering estimate is moderate to highly

weathered

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l 6 505 Little Collins St Melbourne VIC 3000 Australia | admin@lightningminerals.com.au | (08) 9429 8806
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Level 11 40 The Esplanade Perth WA 6000 Australia | admin@lightningminerals.com.au | (08) 9429 8806

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Figures 3a (left) and 3b (right): Blacklight (UV 365nm) analysis of VLM207 weathered Spodumene crystals

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Under UV light the mineral samples from VLM207 fluoresce in the orange spectrum when activated by 365nm wavelength UV light which is common for spodumene crystals in the region. The weathered spodumene crystals show a light orange fluorescence as shown in Figure 3a some less weathered portions of the spodumene crystal remain and exhibit a stronger fluorescent response with deeper orange colours as those shown in Figure 3b. The accessory green highly fluorescent mineral is yet to be confirmed.

The Company takes seriously the reporting of lithium bearing minerals and in this instance is confident to report the presence of spodumene given the presentation of crystal habit at the excavation wall, the elevated LIBS lithium content, UV light fluorescence consistent with spodumene colouration in the region. This is combined with the confidence of identification of weathered spodumene from the local highly experienced geology team.

l 6 505 Little Collins St Melbourne VIC 3000 Australia | admin@lightningminerals.com.au | (08) 9429 8806 Follow up work to confirm the whole rock lithium content is underway, as is sample collection for Bruker Bravo Raman Spectroscopic analysis to confirm the mineral species. This is the first instance where spodumene, a globally significant source of lithium, has been identified within the Lightning Minerals Brazilian Projects.

Surface Expression of Pegmatites

Following the identification of the lithium minerals at the site, the geology team has mapped the surrounding area to understand the orientation of any outcropping lithologies. The early first pass mapping surrounding the site is shown in Figure 4. First rock samples collected from the site are shown in Appendix 3 Table 2. Early indicators are positive with the mineralised pegmatite outcrop displaying a shallow dip to the south-east. Samples are being collected and the area will continue as a focus for the Company to understand the outcrop presentation, orientation, and structural setting for drill testing scheduled for Q1 2025. At this stage the scale and orientation of the discovery beyond the artisanal mine site is under evaluation and remains unknown.

Level 11 40 The Esplanade Perth WA 6000 Australia | admin@lightningminerals.com.au | (08) 9429 8806

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Figure 4: Preliminary outcrop mapping at the Esperança Project

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Ongoing Works in Brazil and Exploration Thesis

Exploration for pegmatites began during June 2024 with project scale geological mapping and soil sampling programs begun across the three projects as part of an aggressive early-stage exploration program. The geological thesis for exploration targeted pegmatites associated with Neoproterozoic Araçuaí orogeny G4 S-type granites that may have been emplaced into schists of the Salinas Formation. To enable the on-ground execution the Company was successful in engaging the support of a highly experienced team of Brazilian geologists with a track record of success in the region, the IP this team has brought the Company is highly l 6 505 Little Collins St Melbourne VIC 3000 Australia | admin@lightningminerals.com.au | (08) 9429 8806 valued and has been integral to making a discovery in the region.

Initial Phase 1 soil sampling and ground reconnaissance works across the Canabrava, Caraíbas and Esperança projects are nearing completion with multiple results expected over the coming weeks. Phase 1 results from the Canabrava project have identified multiple pegmatites and lithium in soil anomalism up to 113ppm Li which is highly encouraging (ASX Announcement 03 October 2024). Drill targeting is now being discussed with a view to inaugural drilling in Q1 2025.

Level 11 40 The Esplanade Perth WA 6000 Australia | admin@lightningminerals.com.au | (08) 9429 8806

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Figure 5: Lightning Minerals’ Brazilian tenements in regional context of the Lithium Valley region of Minas Gerais

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l 6 505 Little Collins St Melbourne VIC 3000 Australia | admin@lightningminerals.com.au | (08) 9429 8806
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Level 11 40 The Esplanade Perth WA 6000 Australia | admin@lightningminerals.com.au | (08) 9429 8806

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Figure 6: Local project location of Lightning Minerals’ Brazilian lithium projects

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Approved for release by the Board of Directors

-END-

More information at www.lightningminerals.com.au

Level 11 40 The Esplanade Perth WA 6000 Australia | admin@lightningminerals.com.au | (08) 9429 8806

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ABOUT LIGHTNING MINERALS

Lightning Minerals is a mineral exploration company, listed on the Australian Securities Exchange (ASX:L1M) and focused on the exploration of critical minerals and lithium at its tenements across Western Australia. The recent acquisition of the Caraíbas, Canabrava and Esperança lithium projects in Minas Gerais, Brazil are potentially transformational to the Company’s success in the lithium sector. The Company also owns the Dundas project in the prolific Dundas region of Western Australia, the Dalmas and Hiver lithium projects in Quebec, Canada, another significant and evolving lithium region globally. The Company also holds other projects in Western Australia which include Mt Bartle, Mt Jewell and Mailman Hill which are prospective for base metals and critical minerals.

FORWARD LOOKING STATEMENTS

Information included in this release constitutes forward-looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward-looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “continue”, and “guidance”, or other similar words and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs.

Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance and achievements to differ materially from any future results, performance or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which the Company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation.

Forward looking statements are based on the Company and its management’s good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect the Company’s business and operations in the future. The Company does not give any assurance that the assumptions on which forward looking statements are based will prove to be correct, or that the Company’s business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the Company or management or beyond the Company’s control.

Although the Company attempts and has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward looking statements, there may be other factors that could cause actual results, performance, achievements or events not to be as anticipated, estimated or intended, and many events are beyond the reasonable control of the Company. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the Company does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.

COMPETENT PERSONS STATEMENT

l 6 505 Little Collins St Melbourne VIC 3000 Australia | admin@lightningminerals.com.au | (08) 9429 8806

The information contained herein that relates to exploration results is based on information compiled or reviewed by Mr Jarrad Woodland, who is a Competent Person and a member of the Australasian Institute of Mining and Metallurgy. Mr Woodland is a full-time employee of the Company. Mr Woodland has sufficient experience which is relevant to the style of mineralisation and types of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Persons as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Woodland consents to the inclusion of his name in the matters based on the information in the form and context in which it appears. Mr Woodland holds options in Lightning Minerals.

REFERENCES TO PREVIOUS ANNOUNCEMENTS

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements, and that all material assumptions and technical parameters have not materially changed. The Company also confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

Level 11 40 The Esplanade Perth WA 6000 Australia | admin@lightningminerals.com.au | (08) 9429 8806

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Appendix 1: Esperança – JORC Code 2012 Table 1 Criteria

The Table below summarises the assessment and reporting criteria used for exploration results for the Esperança Exploration Project and reflects the guidelines in Table 1 of The Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (The JORC 2012 Code).

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. Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. 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 1 m samples from which 3 kg was pulverised to produce a 30 g 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.	• Data in this document relates to field visual identification of minerals and SciAps Z-903 Handheld LIBS (Laser-Induced Breakdown Spectroscopy) results which are both considered qualitative at best. • Sample VLM207 is collected at the discretion of field geologists targeting spodumene minerals to confirm the mineral species. The LIB’s test work on these samples relates only to a fraction of the mineral and does not represent the whole rock lithium content. • The LIBS (Z-903) analyser is calibrated daily prior to mineral analysis. • Rock chip samples were collected at the discretion of the field geologist, this method is appropriate given the early stage of exploration at the Esperança Project • Sample site locations are recorded using a Garmin Map 62s handheld device and are reported in projection SIRGAS 2000 / UTM 23S
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).	• No drilling is being reported
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed. Measures taken to maximise sample recovery and ensure representative nature of the samples. 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.	• No drilling is being reported
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. Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. The total length andpercentage of the relevant intersections logged.	• No drilling is being reported • Descriptions of rock samples are contained in Appendix 2 – Table 2. • Logging and mineral estimates are qualitative and do not support mineral resource estimation, mining studies and/or metallurgical studies.
Sub-sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken. If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.	• Sample VLM207 is collected at the discretion of field geologists targeting spodumene minerals to confirm the mineral species. The LIB’s test work on these samples relates only to a fraction of the mineral and does not represent the whole rock lithium content.

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	For all sample types, the nature, quality and appropriateness of the sample preparation technique. Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. 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. Whether sample sizes are appropriate to the grain size of the material being sampled.
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. 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. Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) andprecision have been established.	• A SciAps Z-903 LIBS device has been used for spot sample readings of minerals of interest. The device is calibrated each day, and before analysis is begun. QAQC standards are used every 10-15 readings as consistency checks. Readings times are approximately 3 to 5 seconds and are standard for the device. The device is calibrated to a lithium profile supplied by SciAps prior to use. • Handheld LIBS is expected to differ from laboratory assay results and can read above theoretical maximum values. They should not be used to replace assays or indicate whole rock grade.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel. The use of twinned holes. Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Discuss any adjustment to assay data.	• No verification will be undertaken for these initial samples as they will not be used in any resource estimate. Samples will be submitted to certified laboratories for whole rock analyses. • All data generated from the mapping of the pegmatite has been uploaded into Lightning Minerals data storage and been checked by geologists. • LIB’S readings have been downloaded directly from the device.
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. Specification of the grid system used. Quality and adequacy of topographic control.	• Handheld Garmin GPS instruments were used to geo locate each sample location, these instruments are understood to be accurate within a ±5m in the horizontal and vertical planes. • The level of topographic control offered by a handheld GPS is considered sufficient for early exploration activities. • All samples were collected in the SIRGAS 2000 / UTM zone 23S
Data spacing and distribution	Data spacing for reporting of Exploration Results. Whether the data spacing, and distribution is 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 applied.	• The sample spacing is considered appropriate for the reporting of the exploration results. • No Mineral Resource or Ore Reserve Estimates have been completed.
Orientation of data in relation to geological structure	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	• Not Applicable at this early stage of reporting with sampling ongoing.
Sample security	The measures taken to ensure sample security.	• The chain of custody for sampling procedures and sample analysis was managed by the contract geological consultants duringcollection

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The results of any audits or reviews of sampling techniques and data.	• No audits or reviews of sampling techniques have been conducted to date.

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 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 Esperança Project is located approximately 25km south-south east of the town of Salinas, Minas Gerais, Brazil. • The Esperança Project area totals ~11.06km2and comprises one granted exploration licence 301033/2013 • The tenement is considered in good standing at the time of this report.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	• The Esperança Project is at a very early stage and little to no recorded work has been completed by prior explorers.
Geology	Deposit type, geological setting and style of mineralisation.	• No known mineral deposits occur within project tenure. • The Esperança Project geology comprises Neoproterozoic age sedimentary rocks of Araçuaí Orogen intruded by pegmatites interpreted to originate from the fractionation of magmatic fluids from the peraluminous S-type post tectonic granitoids of Araçuaí Orogen. • The target commodityis hardrock lithium within lithium-caesium-tantalumpegmatites.
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: o easting and northing of the drill hole collar o elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar o down hole length and interception depth, o 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.	• No drillhole information is reported. • No material information has been excluded from this report, qualitative analytical results have been adequately communicated and described within the body of this report.
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. 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.	• No levelling of the raw geochemical data was undertaken. • Plan images have been generated using QGIS software. • No metal equivalent values are reported.
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’).	• No drillhole information is reported. • There is insufficient data provided by the mapping and qualitative results contained within this report for a relationship between pegmatite and mineral resources to be reported.

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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.	• Appropriate reporting of results has been included in the body of this announcement; the plans, or lack thereof suitably represent the nature of the results.
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.	• Comprehensive reporting of results within the Esperança Project has been included in Appendix 1. • The selective nature of the sampling is well communicated in the document. Whole rock chemical analyses results, and spectrographic analyses of minerals is underway.
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.	• All meaningful data and relevant information have been included in the body of the report.
Further work	The nature and scale of planned further work (e.g., 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.	• Soil sampling is ongoing at the Esperança project with results expected during Q4 2024. • Further geological mapping and sampling at the artisanal mine site is underway to properly understand the scope of the discovery. • Drill targeting activities are underway with a view to begin drill testing during Q1 2025.

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Appendix 2 - Table 1: Esperança Reported Pegmatite Selective Sampling LIBS Results

Sample ID	Easting (UTM 23S)	Northing (UTM 23S)	Li (ppm)	Li2O (%)	Mg (ppm)	K (ppm)	Mn (ppm)	Fe (ppm)
VLM207	792698	8187641	16,300	2.49% Li2O	452	3,974	563	8234
VLM207	792698	8187641	18,800	4.04% Li2O	131	Below Detection	800	Below Detection
VLM207	792698	8187641	7,072	1.52% Li2O	275	2,899	365	Below Detection
VLM207	792698	8187641	2,452	0.52% Li2O	322	8,141	287	Below Detection
VLM207	792698	8187641	11,600	3.5% Li2O	225	673	318	Below Detection
VLM207	792698	8187641	1,878	0.40% Li2O	266	4764	306	Below Detection

Appendix 3 - Table 1: Reporting Visual Estimates of Mineralisation

Project	Sample ID	Geology/Comments
Esperança	VLM207	Mineral species remain unconfirmed at this stage, laboratory spectrographic results are required to confirm Spodumene minerals. Lithium minerals are reported as visual estimates only and mineral percentages are shown in Appendix 2 Table 2 below. At this early stage of exploration all samples are considered qualitative and no confirmed lithium content via certified laboratory analysis or Spectroscopic mineralogical confirmations are available.

Appendix 3 - Table 2: All Pegmatite Field Descriptions Within Esperança Project

Sample ID	Easting (UTM 23S)	Northing (UTM 23S)	Lithology	Campaign	Primary Minerals (Major >30%)	Secondary Minerals (Minor >5% and <30%)	Accessory Minerals (Trace <5%)	Boulder/Outcrop	Comments
VLM207	792698	8187641	Pegmatite (spodumene selective sample)	2024	Quartz - 55%, Spodumene 35% (Spodumene 100% of sampled minerals)	Feldspar - 5% Muscovite - 5%	-	Artisanal Mine/ Outcrop	Selective mineral sample selection for analysis from Artisanal mine in zoned pegmatite. Spodumene sampled zone (55% quartz and 35% spodumene)
VLM208	792698	8187641	Pegmatite	2024	Feldspar 50%	Quartz 20%, Muscovite 15% Tourmaline (Schorlite) 6 %	1 Tantalite and beryl	Artisanal Mine/ Outcrop	Artisanal mine in zoned pegmatite. Gallery with quartz plus spodumene zone (55% quartz and 5% spodumene)

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						Garnet 3% Spodumene 5%
PRL013	792711	8187630	Pegmatite	2024	Feldspar 50%	Muscovite 15% Quartz 25% Tourmaline (Schorlite) 7% Garnet 3%	-	Outcrop	Pegmatite with feldspar, muscovite, quartz, Schorlite and garnet.
PRL014	792720	8187628	Pegmatite	2024	Feldspar 50%	Muscovite 15% Quartz 25% Tourmaline (Schorlite) 7% Garnet 3%	-	Outcrop	Pegmatite with feldspar, muscovite, quartz, Schorlite and garnet.
PRL015	792727	8187630	Pegmatite	2024	Feldspar 50%	Muscovite 15% Quartz 25% Tourmaline (Schorlite) 7% Garnet 3%	-	Outcrop	Pegmatite with feldspar, muscovite, quartz, Schorlite and garnet.