Board Changes & Permitting Update

Infinity Lithium Corporation Limited (‘Infinity’, or ‘the Company’) is pleased to announce the appointment of Ramón Jiménez to the Board of Infinity. Ramón was appointed as CEO of the Company’s wholly owned Spanish subsidiary Extremadura New Energies in Q1 2022. For further details refer to ASX release 15 March 2022.

HIGHLIGHTS

• Ramón Jiménez appointed to Board of Infinity as Executive Director.
  
• Technical presentation of the San José underground mineral extraction and integrated lithium processing plant called for by local and regional government representatives.
• Confirmation of administrative and legal rights under Spanish law to lodge an Exploitation Concession application.

Infinity Director and CEO of Extremadura New Energies, Ramón Jiménez commented

“It is an honour for me to be part of an emblematic project such as San José, a project that in recent months has made great strides in terms of its acceptance by local and regional representatives and the local community. These advancements are representative of the current situation where the favourable administrative pathways for the submission and processing of permits have been acknowledged through multiple avenues, being a reference for both Spain and Europe. The recent approval of the Regional Lithium Decree Law reinforces this process and boosts our project, providing it with a bright future in the coming months.”

Permitting Update

The Company will progress the administrative filings to advance the lodgement of the Exploitation Concession following the final determination of the Contentious-Administrative Court in Cáceres (‘CAC’, or ‘the Court’) with regards to the reinstatement of the Investigation Permit Valdeflorez (‘PIV’). Refer to The Quarterly Activities Report ASX announcement 21 July 2022 for further details. The Court and other administrative procedures were paused in the August interim period in Spain and have recommenced in September. The resolution of the Court will determine the legal and administrative course available to San José Joint Venture (‘JV’) entity Tecnologia Extremeña Del Litio S.L. (‘TEL’).

It is the Company’s understanding that this matter could reach resolution in H2 2022, and whilst the Company remains confident of a favourable decision, other courses of action have been considered pending the finalisation of the matter before the Court.

The Company has confirmed its administrative and legal rights under Spanish law to lodge an Exploitation Concession through an Indirect or a Direct application route. The Junta of Extremadura (‘the Junta’) and the Regional Ministry of Ecological Transition have acknowledged that there are a number of legal avenues to exploit the Valdeflores lithium resource under Spanish mining law, commenting that the Company’s wholly owned Spanish subsidiary Extremadura New Energies “candirectlyrequestpermissionto exploit lithium from Valdeflores in Cáceres, regardless of whether the extraction is underground or in the open, if it considers that the rational use of the deposit is viable.”

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