Current drill program expanded by 25,000 meters with three new drill rigs added for a total of five rigs Drilling to expand Mineral Resources is proceeding positively and resource updates are expected in Q1 2021 Infill drilling will target upgrading the Company’s Mineral Resources on the Core property from Inferred to Indicated classification in advance of a Definitive Feasibility Study Piedmont Lithium Limited is …

  • Current drill program expanded by 25,000 meters with three new drill rigs added for a total of five rigs
  • Drilling to expand Mineral Resources is proceeding positively and resource updates are expected in Q1 2021
  • Infill drilling will target upgrading the Company’s Mineral Resources on the Core property from Inferred to Indicated classification in advance of a Definitive Feasibility Study

Piedmont Lithium Limited ( “Piedmont” or “Company” ) is pleased to announce it has expanded the current drilling campaign by an additional 25,000 meters, with three additional rigs arriving in the field over the coming weeks. The expanded drill program is designed to complete infill drilling on the Core Property with the objective of upgrading the Mineral Resource classification category for select areas from the Inferred category to the Measured and Indicated categories.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201117005343/en/

Piedmont Lithium Project Property Map Showing Mineral Resources, Exploration Targets and Proposed Drillholes (Graphic: Business Wire)

Piedmont Lithium Project Property Map Showing Mineral Resources, Exploration Targets and Proposed Drillholes (Graphic: Business Wire)

The Company plans to publish a Mineral Resource estimate update for the Core Property in Q2 2021 in support of reporting Ore Reserves and completion of a Definitive Feasibility Study in mid-2021.

The expanded drill program will also continue to explore the numerous spodumene pegmatites which have been discovered on the Company’s properties over the past several months. Assays are pending for several of these new discoveries.

The Company also plans an update to the Mineral Resource estimate of the Central Property in early-2021 based on the results of exploration drilling on the property completed in September 2020.

Piedmont expects to complete the expanded drill program in late spring 2021 but acknowledges that the schedule may be impacted by the ongoing COVID-19 pandemic. Field operations at the Piedmont Lithium Project continue under COVID-19 safety protocols, using guidelines and orders established by the State of North Carolina.

Keith D. Phillips, President and Chief Executive Officer, commented: “ We are excited to be aggressively expanding our drill program with five drill rigs soon to be in the field. Our dual objectives are to upgrade the current Inferred Resources within the Core Property to support our upcoming DFS, while also growing the overall scale of our mineral resource tonnage. The Carolina Tin-Spodumene Belt is one of the world’s most prolific lithium belts and we are hopeful that we will ultimately delineate North America’s largest spodumene resource, ideally located in North Carolina to power North America’s clean energy storage and EV revolution.

Click here to view the full ASX Announcement.

Keith Phillips
President & CEO
+1 973 809 0505
kphillips@piedmontlithium.com

Tim McKenna
Investor and Government Relations
+1 732 331 6457
tmckenna@piedmontlithium.com

News Provided by Business Wire via QuoteMedia

Piedmont Lithium

Overview

Piedmont Lithium (ASX:PLL, NASDAQ:PLL) CEO Keith Phillips joined the Investing News Network at the 2020 Prospectors & Developers Association of Canada (PDAC)...

Piedmont Lithium's flagship project is strategically located in North Carolina, the heart of America's "Auto Alley" and host to the world-class Carolina Tin-Spodumene Belt (TSB). The TSB is home to the Kings Mountain district, which is considered one of the three largest lithium-bearing pegmatite deposits in the world. Major mining companies such as Livent Corporation (NYSE: LTHM) and Albemarle Corporation (NYSE:ALB) have long-standing operations in this region. This premier location offers Piedmont Lithium the ability to develop a fully-integrated, low-cost spodumene to lithium hydroxide operation as North Carolina has all of the necessary infrastructure including power, R&D centers for lithium and battery storage, major high-tech population centers and downstream lithium processing facilities.

Piedmont Lithium's 2019 scoping study for the project includes a mine and concentrator capable of producing 160,000 tonnes per year of spodumene concentrate and a steady-state 22,700 tonnes per year lithium hydroxide chemical plant. The company's five-year agreement with Tesla accounts for approximately one-third of Piedmont's planned spodumene concentrate production of 160,000 tonnes per year, with sales expected to generate between 10 to 20 percent of the company's projected revenue from the Piedmont Lithium Project.

A pre-feasibility study (PFS) was released on the Piedmont Lithium Project in 2020 outlining the proposed lithium hydroxide chemical plant. The PFS assumed a standalone merchant chemical plant that would be capable of converting spodumene concentrate from the global market into batter-grade lithium hydroxide. The PFS confirmed that Piedmont will be a strategic low-cost producer of battery-grade lithium hydroxide. As demonstrated by its supply agreement with Tesla, Piedmont Lithium intends to leverage its standalone merchant chemical plant in order to provide North American and European battery-makers with an alternative to Chinese producers, who provide approximately 80 percent of the world's lithium hydroxide.

Piedmont Lithium's management team has decades of experience in all facets of mining, from raising capital to mine engineering. Members of the team have held positions with companies such as JPMorgan Chase & Co. (NYSE: JPM), Merrill Lynch, BHP Billiton (LSE:BHP), FMC and Albemarle. Officers and directors hold 10 percent of the company's shares. Piedmont has attracted institutional investors such as Australian Superannuation Fund (AusSuper) and Fidelity.

Company Highlights

  • Secured a binding five-year supply agreement with Tesla for the sale of spodumene concentrate with a five-year extension option
  • Agreement with Tesla represents one-third of planned spodumene concentrate production at the Piedmont Lithium project
  • Piedmont Lithium's Piedmont project is located in the world-class Carolina TSB in North Carolina, US
  • North Carolina offers favorable geology, proven metallurgy, easy access to infrastructure, power, R&D centers for lithium and battery storage, major high-tech population centers and downstream lithium processing facilities.
  • Livent and Albemarle have long-standing operations in the area and control the region's processing facilities.
  • The Piedmont project has a project-wide resource of 27.9 million tonnes grading 1.11 percent lithium oxide.
  • The project also has a by-product resource of 16.19 million tonnes of ore grading 30.1 percent quartz, 43.9 percent feldspar and 4.5 percent mica, three by-products which are expected to provide significant revenue for Piedmont.
  • The 2019 scoping study includes a steady-state 22,700 tonnes per year lithium hydroxide chemical plant that is supported by a mine and concentrator capable of producing 160,000 tonnes per year of spodumene concentrate.
  • The Piedmont project has a 25-year mine life and positive project economics, including an after-tax NPV of US$1.45 billion, an after-tax IRR of 34 percent and a run-rate EBITDA of US$298 million.
  • 2020 PFS study confirmed Piedmont is on the path to be a strategic and low-cost producer of battery-grade lithium hydroxide
  • Piedmont Lithium is working with world-class technical consultants like Primero, SGS Lakefield, HDR Engineering and Hatch.
  • Institutional investors include AusSuper and Fidelity.
  • Officers and directors hold 10 percent of the company's shares.

Tesla Supply Agreement

In Q4 2020 Piedmont Lithium signed a binding five-year supply agreement with Tesla (NASDAQ:TSLA) to provide the automaker with a supply of spodumene concentrate from Piedmont's North Carolina deposit. The agreement comes with the option for a five-year extension and is expected to represent approximately one-third of Piedmont's projected spodumene concentrate output during the first five years of production. The sales from the agreement with Tesla are expected to represent approximately 10 to 20 percent of Piedmont Lithium's projected total revenues from its proposed integrated mine-to-hydroxide project.

Key Projects

Piedmont Lithium Project

Piedmont Lithium is ready to leverage its position as a first-mover in restarting lithium production in North Carolina's prolific, past-producing TSB. The project is comprised of three sub-properties: Core, Central and Sunnyside. The TSB historically produced most of the western world's lithium between the 1950s and 1980s and has been described as one of the largest lithium regions in the world. The Piedmont project is one of only four projects in the world focused on converting spodumene into battery-grade lithium hydroxide.

Location, location, location

The Piedmont project has been explored for lithium since the 1950s. Lithium Corporation of America originally had control of the area and was subsequently acquired by FMC Corporation, before spinning off their lithium activities into Livent Corporation. Another big player in the area is Albemarle, who together with Livent operate two lithium processing facilities in the TSB, which are among the world's most important sources of lithium chemicals. FMC maintains the Center for Lithium Energy Advanced Research lab in Bessemer City as well as its processing facility, which is 14 kilometers from the project. Albemarle's King Mountain processing facility is located approximately 17 kilometers from the project.

North Carolina also provides Piedmont Lithium a premier jurisdiction to work within given its favorable geology and easy access to infrastructure, power, R&D centers for lithium and battery storage, high-tech population centers and downstream lithium processing facilities. State-maintained paved secondary roads intersect the Piedmont project, and Interstate I-85 lies 13 kilometers to the south, providing access to the city of Charlotte and the Charlotte-Douglas international airport. Approximately four million people reside within the Charlotte metropolitan area, which is home to multiple universities with a skilled pool of labor.

Electrical power infrastructure is first-rate and low-cost, and is derived from diverse sources including renewables; North Carolina has the second-biggest commitment to solar energy in the US, after California. Piedmont Lithium also has access to a railway line located five kilometers south of the project. The Charlotte region has significant expertise in mining as many quarries and industrial mineral mining operations are active within 50 kilometers of the project. Once the company commences production, Piedmont Lithium expects to benefit from the low cost of labor, power and natural gas in the area.

Piedmont Lithium Low Cost Labor

2019 Resource Estimates

Piedmont Lithium has developed three resource estimates to date for the Piedmont project in North Carolina. The company has released reports for the Central and Core properties in addition to reports on by-product material found on the Core property.

In addition to the resources, Piedmont Lithium has conducted mineralogical test work using semi-quantitative and quantitative x-ray diffraction (XRD) analysis on samples from the Core, Central and Sunnyside properties. To date, the company has been able to demonstrate that lithium occurs almost exclusively in spodumene in Piedmont's mineral resource. While this is unusual, the company believes that spodumene-hosted lithium can have a positive impact on lithium recovery.

Core Property Resource

In June 2019, Piedmont Lithium released an updated mineral resource estimate on its Core property. The report outlined a project-wide mineral resource of 29.1 million tonnes grading 1.11 percent lithium oxide with approximately 13.9 million tonnes in the indicated category. Most of the mineralization at the Core deposit is located within 100 meters from the surface.

Project Wide Mineral Resource Estimate for the Piedmont Lithium Project (0.4% cut-off)

Resource Category Core Property Tonnes (Mt) Core Property
Grade (Li2O%)
Central Property Tonnes (Mt) Central Property Grade (Li2O%) Total Tonnes (Mt) Total Grade (Li2O%) Total Li2O (t) LCE (t)
Indicated 12.5 1.13 1.41 1.38 13.9 1.16 161,000 398,000
Inferred 12.6 1.04 1.39 1.29 14.0 1.06 148,000 366,000
Total 25.1 1.09 1.29 14.0 27.9 1.11 309,000 764,000

"We are very pleased with the resource update at our Core property, bringing our total project-wide resources to 27.9 million tonnes at 1.11 percent lithium oxide. As we expand our land holdings and drill out other highly prospective targets, we are optimistic that we will ultimately identify North America's largest spodumene ore body. This scale, combined with high grade, strong mineralogy and metallurgy and our superior location in North Carolina, all support the unique strategic nature of the Piedmont lithium project," said Phillips.

Central Property Resource

In April 2019, Piedmont Lithium released an initial resource estimate for the Central property. The report outlined a resource of 2.8 million tonnes grading 1.34 percent lithium oxide with approximately 50 percent in the indicated category. The deposit, however, remains open in all directions.

"This is a property with great potential and the mineral resource estimate is based on only 18 drill holes, 16 of which encountered thick, high-grade mineralization. We hope to expand our landholdings in this area and ultimately drill out a substantially larger resource at Central," said Piedmont Lithium CEO Keith Phillips.

The resource is comprised of two subparallel, northeast-trending, spodumene-bearing pegmatite dikes. The western dike has a strike length of 370 meters, a depth of 230 meters and remains open in all directions. The eastern dike has been traced for 220 meters and is nearly vertical in its orientation while also remaining open in all directions. The dike is also high-grade, having returned a drill intercept of 43.2 meters grading 1.73 percent lithium oxide.

By-Product Resource

In September 2018, Piedmont Lithium released a by-product mineral resource estimate for the by-product quartz, feldspar and mica mineral products from the spodumene-bearing pegmatite the Core property. The report outlined a total resource of 16.19 million tonnes of ore grading 30.1 percent quartz, 43.9 percent feldspar and 4.5 percent mica.

The industrial minerals included in the resource could potentially provide an additional revenue stream for the company due to its proximity to the mid-Atlantic industrial corridor located in Charlotte. Piedmont Lithium is currently in initial offtake conversations with leading market participants for its by-product offerings. To date, Piedmont Lithium has signed an LOI with Ion Carbon & Minerals LLC, a division of AMCI Group, to market the by-products Piedmont plans to offer to end-users.

Mineral Resource Estimates for By-Products – Piedmont Lithium Project

Category Tonnes (Mt) Quartz
Grade (%)
Quartz Tonnes (Mt) Feldspar Grade (%) Feldspar Tonnes (Mt) Mica Grade (%) Mica
Tonnes (Mt)
Indicated 8.50 30.3 2.57 43.5 3.69 4.4 0.38
Inferred 7.69 30.0 2.31 44.4 3.41 4.5 0.34
Total 16.19 30.1 4.88 43.9 7.11 4.5 0.72

Exploration

Drilling at Sunnyside in 2018 tested a variety of surface outcrop, subcrop and float block trends on the property, which returned spodumene-bearing pegmatite in five out of the seven holes drilled. Before drilling, the company completed surface mapping on three that indicated the presence of a shallow-to-moderate west-to-southwest-dipping band of mineralized outcrop blocks. Three holes were dedicated to testing the area and returned intersects of 20.9 meters grading 1.42 percent lithium oxide, three meters grading 1.94 percent lithium oxide and 9.1 meters grading 1.11 percent lithium oxide.

Piedmont Lithium Sunnyside cross section

The Path to Production

In preparation for production, Piedmont Lithium has completed several scoping studies for the project. The 2019 scoping study includes a steady-state 22,700 tonnes per year lithium hydroxide chemical plant that is supported by a mine and concentrator capable of producing 160,000 tonnes per year of spodumene concentrate grading six percent lithium oxide. By-products of quartz, feldspar and mica have also been incorporated into the report to provide credits to the cost of producing lithium. With the incorporation of the June 2019 resource estimate, the project now has an overall lifespan of 25 years.

"We are very pleased with the results of the updated scoping study, which reflect the benefits of a 25-year mine life, a refined concentrator flow sheet and PFS-level engineering and metallurgy. The economic benefit of developing an integrated lithium chemical business in North Carolina, US is clear, driven by the exceptional infrastructure and human resource advantages of our location, as well as the competitive royalty and tax regime offered in the US," said Phillips.

Piedmont Lithium Scoping Study

In Q2 2020 Piemont Lithium released the results of a PFS conducted on its proposed lithium hydroxide chemical plant. The PFS, which was conducted by Hatch, a global leader in the development of lithium conversion projects, assumed a stand-alone merchant chemical plant that would convert spodumene concentrate purchased on the global market to battery-grade lithium hydroxide. The PFS confirmed Piedmont Lithium is on the path to become a strategic low-cost producer of battery-grade lithium hydroxide, which it intends to offer to North American and European automakers.

Management Team

Keith D. Phillips — Managing Director, CEO and Director

Appointed on July 6, 2017, Keith Phillips has a career on Wall Street spanning 30 years during which he has worked on strategic and financing transactions representing over $100 billion in aggregate value. He was most recently a Senior Advisor with merchant banker Maxit Capital, after leading the mining investment banking teams for Merrill Lynch, Bear Stearns, JPMorgan and Dahlman Rose. Phillips has worked with numerous mining companies, including many established global leaders, and has dedicated most of the past decade to advising exploration and development-stage companies in achieving their strategic objectives, with a particular focus on obtaining relevance in the US capital markets. He received his Master of Business Administration from the University of Chicago and a Bachelor of Commerce from Laurentian University in Canada.

Patrick H. Brindle — VP Project Management

Patrick Brindle has over 18 years of experience in the development of US and global mining operations, minerals processing plants and materials handling projects. He has expertise in all phases of project development from concept design, pre-feasibility and feasibility study, detailed design engineering, construction and commissioning, including EPC projects in North and South Carolina. He most recently worked as Vice President of Engineering for DRA Taggart in Pittsburgh, Pennsylvania, and has a B.S. in Environmental Science and a B.S. in Civil Engineering from Virginia Tech.

Lamont Leatherman — Chief Geologist

Lamont Leatherman is an exploration geologist with over 25 years of experience. He is the former project geologist for BHP Minerals and Noranda. He has extensive experience in numerous styles of mineralization including lithium-bearing pegmatite systems.

David Buckley — VP and Chief Process Engineer

David Buckley is a 25-year veteran of the lithium business, having worked most recently as Chief Process Engineer of Quebec-based Critical Elements Corporation after senior positions with FMC's Lithium Division and Albemarle (former Rockwood Lithium). He has extensive experience in lithium extraction from both hard rock resources and lithium bearing brines. He also brings experience in converting the extracted lithium into lithium carbonate, lithium hydroxide and other downstream lithium chemicals. He has a B.S. in Chemical Engineering from Virginia Tech.

Bruce Czachor — VP and General Counsel

Bruce Czachor is a former partner of major international law firm Shearman & Sterling, and brings almost 30 years of experience in corporate governance, securities, M&A and commercial transactions. He has represented a range of clients from start-ups to Fortune 500 companies, and he has extensive experience in the mining industry and with initial US listings. He earned his B.A. from Binghamton University and his Juris Doctor from New York Law School.

Gregory (Greg) Swan — Corporate Secretary

Gregory Swan is a Chartered Accountant and Chartered Secretary. He commenced his career at a large international Chartered Accounting firm and has since worked in the corporate office of a number of listed companies that operate in the resources sector. He was appointed Corporate Secretary of the company on October 31, 2012.

Ian Middlemas — Non-Executive Chairman

Ian Middlemas is a Chartered Accountant, a member of the Financial Services Institute of Australasia and holds a Bachelor of Commerce degree. He worked for a large international Chartered Accounting firm before joining the Normandy Mining Group where he was a senior group executive for approximately 10 years. He has had extensive corporate and management experience and is currently a director with a number of publicly-listed companies in the resources sector. Middlemas was appointed a Director of the company on September 14, 2009.

Anastasios (Taso) Arima — Executive Director

Anastasios Arima is a resource company executive with a strong history of identifying company-making resource projects. He has extensive experience in the formation and development of resource projects in North America. He is currently Executive Director of Paringa Resources Ltd., which is developing a coal project in the US, formerly Executive Director of Coalspur Mines Ltd., which is developing a coal project in Canada, and Prairie Mining Ltd., which is developing a coal project in Poland. He was instrumental in the identification and acquisition of all of Paringa's and Coalspur's projects, as well as the corporate strategy and marketing of the companies.

Arima began his career as a resources analyst for a Perth-based boutique investment banking firm where he specialized in assessing the technical and financial aspects of resource companies and their projects. He has previously worked in the hydrocarbon division at WorleyParsons Limited. He attended the University of Western Australia where he earned a Bachelor of Commerce and a Bachelor of Engineering. He was appointed a Director of the company on October 1, 2016.

Jeff Armstrong — Director

Jeff Armstrong resides in Charlotte, North Carolina where he is actively engaged in the community and has extensive relationships with major corporations and entrepreneurs alike. He serves as CEO and Managing Partner of North Inlet Advisors LLC, a firm providing strategic and financial advice to companies on capital formation, mergers, acquisitions, divestitures, restructurings and other corporate transactions.

Armstrong was previously a senior leader in what is now Wells Fargo's Investment Bank for nearly a decade, where his leadership roles included the Head of Corporate Finance, mergers and acquisitions, private equity coverage and leveraged capital groups. He also worked as an investment banker for Citigroup from 1994 to 1999, and for Morgan Stanley from 1987 to 1994. Armstrong graduated from the University of Virginia with a B.S. in finance and marketing from the McIntire School of Commerce and an MBA from the Darden School of Business.

Jorge M. Beristain — Director

Jorge Beristain recently accepted a new position as CFO with CS&W, a wholly-owned subsidiary of Ryerson Corp (RYI.N). RYI is the second-largest service center with over 100 locations in the US, Canada and Mexico supplying carbon and stainless steel, aluminum, red metals and semi-fabricated products to the machinery, transport, consumer durables, food processing, construction and energy sectors. Beristain retired as Managing Director and Head of Deutsche Bank's Americas Metals & Mining equity research, where he was consistently ranked by institutional investors as one of the top analysts in the US.

During his over 20-year career on Wall Street, Beristain has lived and worked in the US, Latin America and Canada and has visited hundreds of industrial companies worldwide. He is a proven strategic thinker with extensive international experience in the valuation of mining projects and metals operations and downstream metal uses. He holds a Bachelor of Commerce degree from the University of Alberta and is a Chartered Financial Analyst.

Levi Mochkin — Director

Levi Mochkin has been an executive director and key leader of the Ledger Holdings Pty Ltd. Group (the Ledger Group), located in Melbourne, Australia. He has been in the resources sector for over 30 years advising companies, identifying projects and raising capital of over $800 million for mining projects. Ledger Holdings PTY LTD assists PLL with business development. Mochkin was appointed a Director on April 3, 2006.

Malissa Gordon – Senior Member, Management Team

Ms. Gordon joined Piedmont in 2020 as Manager Community and Government Relations. Malissa most recently spent over 12 years with the Gaston County (North Carolina) Economic Development Commission. Ms. Gordon brings deep local roots to the Piedmont team with strong connections to community leaders, non-profit and business organizations. Ms. Gordon received her BS in Corporate Communications from Western Carolina University.

Jim Nottingham – Senior Member, Management Team

Mr. Nottingham has joined Piedmont as Senior Project Manager – Concentrate Operations. Jim brings extensive project management, construction, mine management and process plant operations management experience to Piedmont from his 30+ years' operating in the mining industry. Mr. Nottingham received his BS in Mining and Mineral Engineering from West Virginia University.

John "Pratt" Ray- Senior Member, Management Team

Mr. Ray joined Piedmont in 2020 as Production Manager – Chemical Operations. Pratt has deep experience in the production of lithium hydroxide and carbonate, both from spodumene and brine sources, having spent almost 30 years in production and operating roles at Livent's Bessemer City, North Carolina lithium chemical facility.

Brian Risinger – Senior Member, Management Team

Mr. Risinger has joined Piedmont as Vice President – Corporate Communications and Investor Relations. Brian has over 20 years' experience in similar roles, having served most recently as director of marketing, corporate communications, and investor relations for Sonoco Products Company, one of the world's largest paper and packaging companies. Mr. Risinger is a graduate of the Darla Moore School of Business at The University of South Carolina.

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In exceptional market conditions, Rio Tinto achieves record financial results and declares total interim dividend of 561 US cents per share, 75% of underlying earnings

Rio Tinto Chief Executive Jakob Stausholm said “Government stimulus in response to ongoing COVID-19 pressures has driven strong demand for our products at a time of constrained supply resulting in a significant spike in most prices. We focused on safely running our world-class assets and supplying products to our customers. This enabled us, despite operational challenges, to deliver record financial results with free cash flow of $10.2 billion and underlying earnings of $12.2 billion, after taxes and government royalties of $7.3 billion. We are further strengthening the portfolio with our commitment to fund the high-quality Jadar lithium project, which signals our large-scale entry into the fast-growing battery materials market. We will pay an interim dividend of 561 US cents per share, representing 75% of underlying earnings.

“We are making progress on our four priorities, identifying opportunities for operational improvement, advancing our ESG agenda, taking important investment decisions and stepping up our external engagement. We are making real and lasting changes to the way we engage, interact and operate and are committed to ensuring that we have strong and positive relationships wherever we do business. We have identified what we need to do to make Rio Tinto a better company for the long term, with the right teams in place to unleash our full potential.”

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Lake Resources NL Bonus Issue to Shareholders

Sydney, Australia (ABN Newswire) – Clean lithium developer Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF), in recognition of the support received from its shareholders, wishes to advise that it intends to undertake a bonus issue of options (Bonus Options) to all shareholders with an address in Australia or New Zealand (Eligible Shareholders) at 5:00 pm (Sydney time) on the Record Date (set out in the indicative timetable set out below*).

As the Bonus Options will be issued for nil consideration, Lake is raising no capital from their issue. For every ten (10) shares held at 5:00 pm (Sydney time) on the Record Date, Eligible Shareholders will be issued with one (1) free Bonus Option.

The Bonus Options will have an exercise price $0.35 each, expiring on 15 October 2021 and, if exercised, each will result in the allotment and issue of one (1) fully paid ordinary share in Lake. Lake will not seek listing of the Bonus Options on ASX.

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Lake Resources NL Argentina based Director Strengthens Board

Sydney, Australia (ABN Newswire) – Clean lithium developer Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) has strengthened its Board, announcing today the appointment of experienced energy/natural resources lawyer, Sra. Amalia Saenz as a Non-Executive Director.

Based in Buenos Aires, Sra. Amalia’s appointment will assist Lake and its local team in Argentina in engaging with local stakeholders and preparing for the development of clean lithium production in Argentina.

Sra. Saenz is a partner at the law firm, Zang, Bergel & Viaes in Buenos Aires, where she leads the firm’s energy and natural resources practice.

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Classic Minerals Limited Quarterly Activities Report

Perth, Australia (ABN Newswire) – Classic Minerals Limited (ASX:CLZ) has made significant progress at Kat Gap during the quarter as it strives to become a gold producer.

Highlights of the quarter include:

– Assay results returned for infill RC drilling testing the gap between oxide and deeper fresh rock high-grade gold mineralisation at Kat Gap.

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