LIONTOWN LIMITED — Capital/Financing Update 2016

May 24, 2016

ASX : LTR

ABN 39 118 153 825

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ASX ANNOUNCEMENT

Bynoe Lithium-Tantalum Project (Northern Territory) – Drilling Program Update

Liontown Resources Limited (ASX: LTR) is pleased to advise that it has it been notified by the Northern Territory Department of Mines and Energy (NTDME) that approval of the Company’s Mine Management Plan (MMP) for the initial RC drilling program at the Bynoe Lithium-Tantalum Project (Figure 1 ) has been given, subject to provision of a security bond.

This bond has now been lodged with the NTDME.

The drilling activities covered by the MMP initially comprise up to 25 reverse circulation drill holes for a total of ~3,000m. A RC drill rig has been contracted to commence work on June 6[th] 2016 following rehabilitation of existing access tracks and preparation of drill pads.

The drilling will test 10 pegmatites ( Figure 1 ) defined by a review of historic data as high priority targets based on size potential and/or presence of lithium minerals or anomalism.

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DAVID RICHARDS Managing Director

25 May 2016

The Information in this report that relates to the Exploration Results for the Bynoe Project is extracted from the ASX announcement entitled “Liontown defines 10 priority lithium targets at the Bynoe Lithium-Tantalum Project (Northern Territory) ahead of maiden drilling program”released on the 14[th] April 2016 and which is available on www.ltresources.com.au

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. The Company 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.

This announcement contains forward-looking statements which involve a number of risks and uncertainties. These forward looking statements are expressed in good faith and believed to have a reasonable basis. These statements reflect current expectations, intentions or strategies regarding the future and assumptions based on currently available information. Should one or more of the risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and strategies described in this announcement. No obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments.

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Figure 1: Bynoe Project – Drill Targets