Excellent Results from 2025 Core Drilling Program at McDermitt

Jindalee Lithium Limited (Jindalee, or the Company; ASX: JLL, OTCQX: JNDAF) is pleased to report assay results from the drilling program at the McDermitt Lithium Project completed late 2025.

• All holes returned strong lithium and magnesium intercepts from shallow depths, including:
  • R92: 36.5m @ 1951 ppm Li & 5.23% Mg from 24.5m
  • R93: 15.5m @ 1456 ppm Li & 5.45% Mg from 3.6m
  • R94: 66.0m @ 1599 ppm Li & 4.12% Mg from 0.4m
  • R95: 110.6m @ 1519 ppm Li & 4.80% Mg from 23.0m
  • R96: 20.1m @ 1514 ppm Li & 5.29% Mg from 0.4m
• Three holes twinning earlier RC holes confirmed good correlation with RC results
• High-quality core samples retained for metallurgical testwork (lithium and magnesium)

Background

On 3 December 2025 Jindalee announced the completion of a large diameter core drilling program at the Company’s 100% owned McDermitt Lithium Project1 (McDermitt, Project), one of the largest lithium deposits in the United States (US) and of global significance2 (Figure 1).

The program comprised five PQ3 (8.5cm diameter) core holes designed to obtain samples for metallurgical testwork to further optimise lithium recoveries, as well as unlock value from the significant magnesium endowment at McDermitt, via the value optimisation program announced late October 20253. The drilling also provided valuable geological and geotechnical data on the deposit, with three of the holes collared to twin reverse circulation (RC) holes drilled in 2021 and 20224.

Discussion

All five holes returned strong lithium and magnesium intercepts from shallow depths as summarised above and in Annexure A. Three holes (R94, R95 and R96) were collared to twin RC holes drilled previously by Jindalee (MDRC-24, MDRC-21 and MDRC-22 respectively), with assays from the recent core holes showing good correlation with the RC results (refer Table 1). Jindalee will now undertake detailed geostatistical analysis to further evaluate the relationship between the results from RC and core drilling to help determine the optimal drilling methods for future programs.

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