LOTUS RESOURCES LIMITED — AGM Information 2021

Oct 3, 2021

4 October 2021

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ASX Announcement

Corporate Calendar

Lotus Resources Limited (ASX: LOT) (Lotus or the Company) advises that the Annual General Meeting of the Company is scheduled to be held on 29 November 2021 ( AGM ).

An item of business at the AGM will be the election of directors. In accordance with ASX Listing Rule 3.13.1, the closing date for receipt of nominations from persons wishing to be considered for election as a director is 11 October 2021.

Any nominations must be received no later than 5.00 pm (WST) on 11 October 2021 at the Company’s registered office (1202 Hay Street, West Perth WA 6005) or by email to the Company Secretary at: stuart.mckenzie@lotusresources.com.au.

This announcement has been approved for release by the Company Secretary.

For further information, contact:

Keith Bowes Adam Kiley Managing Director Business Development T: +61 (08) 9200 3427 T: +61 (08) 9200 3427

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ABOUT LOTUS

Lotus Resources Limited (ASX: LOT, OTCQB: LTSRF) owns an 85% interest in the Kayelekera Uranium Project in Malawi. The Project hosts a current resource of 37.5M lbs U3O8 (see table below), and historically produced ~11MIb of uranium between 2009 and 2014. The Company completed a positive Restart Study[1] which demonstrated that Kayelekera can support a viable long-term operation and has the potential to be one of the first uranium projects to recommence production in the future.

Kayelekera Mineral Resource Estimate – March 2020[1]

Category	Mt	Grade (U3O8 ppm)	U3O8 (M kg)	U3O8 (M lbs)
Measured	0.7	1,010	0.7	1.5
Measured – RoM Stockpile2	1.6	760	1.2	2.6
Indicated	18.7	660	12.3	27.1
Inferred	3.7	590	2.2	4.8
Total	24.6	660	16.3	36.0
Inferred – LG Stockpiles3	2.4	290	0.7	1.5
Total All Materials	27.1	630	17.0	37.5

For more information, visit www.lotusresources.com.au

1 See ASX announcement dated 26 March 2020. Lotus confirms that it is not aware of any new information or data that materially affects the information included in the announcement of 26 March 2020 and that all material assumptions and technical parameters underpinning the Mineral Resource estimate in that announcement continue to apply and have not materially changed.

2 RoM stockpile has been mined and are located near mill facility.

3 Medium-grade stockpiles have been mined and placed on the medium-grade stockpile and are considered potentially feasible for blending or beneficiation, with studies planned to further assess this optionality.

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