LORD RESOURCES LIMITED — Capital/Financing Update 2023

May 10, 2023

ASX ANNOUNCEMENT 11 May 2023

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ACQUISITION OF JINGJING LITHIUM PROJECT COMPLETED & CLEANSING NOTICE

• Acquisition of the Jingjing Lithium Project complete

• Initial mapping and surface/rock sampling program complete

• Planning for surface geochemistry program underway

• Subcropping pegmatites observed, with elevated tantalum (Ta) in rock samples and elemental ratios considered prospective for LCT-type pegmatites

• The geological setting is within the ‘Goldilocks Zone’ for LCT deposits – greenstone lithologies within 5km of granitic intrusions

• Located equidistance between Liontown Resources Ltds’ “Buldania” lithium project and the operational Bald Hill lithium mine

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Figure 1 Location plan of Lord Resources Lithium Projects – Jingjing and Horse Rocks

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Lord Resources Limited (ASX: LRD) (“Lord” or the “Company”) is pleased to announce that it has completed the acquisition of the Jingjing Lithium Project (refer LRD ASX release dated 27 March 2023).

Lord has paid $10,000 in cash and issued 900,000 fully paid ordinary shares to the vendor, Amery Holdings Pty Ltd and their nominees (pursuant to Lord’s existing placement capacity under Listing Rule 7.1). 450,000 fully paid ordinary shares will be escrowed for three months and 450,000 fully paid ordinary shares will be escrowed for six months.

A milestone payment of $100,000, payable in cash or fully paid ordinary shares in Lord will be payable within 30 days of the earlier of:

• (i) Lord achieving intercepts of 10% m equivalent or better in 2 drill holes (for example this could be 10m at 1% Li2O or 7m at 1.5% Li2O or if gold then 10m at 20g/t or 5m at 40g/t Au based on current PLS quarterly average spodumene pricing; or

• (ii) Lord making a Decision to Mine.

In addition, Lord will also grant Amery a 0.5% Net Smelter Return (‘NSR’) royalty on minerals produced from the tenements.

The Company hereby notifies ASX under section 708A(5)(e) of the Corporations Act that:

• The Shares were issued without disclosure to investors under Part 6D.2 of the Corporations Act;

• as at the date of this notice, it has complied with the relevant provisions of Chapter 2M of the Corporations Act as they apply to the Company and Section 674 of the Corporations Act; and

• as at the date of this notice, there is no excluded information, as that term is defined in Sections 708A(6)(e), 708A(7) and 708A(8) of the Corporations Act.

Managing Director Barnaby Egerton-Warburton commented:

“We are excited to have completed the acquisition of the Jingjing Project as it aligns with the Companies exploration strategy of unearthing opportunities in WA’s Super Lithium Province”

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This release is authorised by the Board of Directors of Lord Resources Limited.

For further information please contact:

Barnaby Egerton-Warburton

Managing Director E: bew@lordresources.com P: +61 437 291 155

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ABOUT JINGJING

The Jingjing project is located within the Eastern Goldfields Province of the Archaean aged Yilgarn Craton of Western Australia, ~125km southeast of Kalgoorlie, and ~50km northeast of Norseman.

The tenements straddle the contact zone between greenstone and granitoids and is considered prospective for LCT-type pegmatites. The Bald Hill lithium-tantalum mine is located 18.5km north of the project, and the Buldania lithium resources is located 19km south of the project area.

Field reconnaissance by the Lord technical team outlined a series of pegmatites in the north of E15/1912, hosted by variably sheared felsic volcanics and sediments of the Black Flag Group. Locally, the greenstone terrain is comprised predominantly of felsic volcanics/sediments (Black Flag Group) and mafic intrusive sills of the Kalgoorlie Terrane, which have been intruded by granitic bodies. There is little outcrop in the project area, with large areas of depositional cover, potentially masking additional pegmatites.

A review of historic reports indicate there has been no previous lithium exploration within the tenements. Previous explorers have focused on gold and nickel mineralisation, and therefore did not assay for lithium or other lithium indicator elements.

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Figure 2 Jingjing Project – geology plan

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