Exceptional Assay Results Confirm Colina West Potential

Latin Resources Limited (ASX: LRS) (“Latin” or “the Company”) is pleased to provide an update on drilling results from the Colina and Colina West areas from drilling completed in late 2022 at the Company’s 100% owned Salinas Lithium Project (“Salinas”) (Appendix 1).

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HIGHLIGHTS

• Latest assay results received from diamond drilling completed in late 2022, confirm the Company’s assessment that the Colina West Prospect represents an exceptional resource growth opportunity.
  
• Over 67 meters (cumulative) of mineralised lithium pegmatites intersected in one hole, SADD055 located approximately 200m along strike to the south of the Colina West discovery hole, intersections include:
  • SADD055: 13.73m @ 1.38% Li2O from 200.19m
    and: 16.08m @ 1.07% Li2O from 306.69m
    and: 10.85m @ 1.96% Li2O from 322.15m
    and: 11.16m @ 1.61% Li2O from 360.17m
    and: 16.00m @ 1.61% Li2O from 393.60m
• Other significant intersections include:
  • SADD053: 14.00m @ 1.35% Li2O from 289.58m
  • SADD057: 20.17m @ 1.66% Li2O from 136.99m
  • SADD059: 14.70m @ 1.27% Li2O from 109.90m
  • SADD060: 15.96m @ 1.56% Li2O from 350.09m
• The current 65,000m diamond drilling program is focused on the fast‐track growth of the existing Colina deposit, and the systematic resource definition drilling of the Colina West Prospect to enable the Company’s fully funded fast track rapid resource growth strategy.
• The Company looks forward to delivering further resource upgrades in 2023.

“These latest results from our 2022 drilling campaign are exceptional. We have intersected over 67 cumulative meters of highly mineralised pegmatites in drill hole SADD055, which was collared approximately 200m to the south of the Colina West discovery hole SADD033.

“The Colina West area is shaping up to be a critical new discovery for the Company. The thick high‐ grade mineralisation we have encountered here is on par with, or arguably better that the main Colina deposit. The potential scale of the Colina West discovery, highlighted by these latest results, means that this area is a major focus for our current 2023 drilling campaign. We believe, that with more drilling, Colina West has the potential to deliver significant tonnes to the overall resource base for the Project.”

2022 Drilling Program – Assay results

The Company announced its maiden Mineral Resource Estimate (“MRE”), for the Colina Deposit¹ of 13.3Mt @ 1.2% Li2O, along with a JORC Exploration Target Range¹ (“ETR”) for Colina of 13.5 – 22 Mt with a grade range of 1.2 – 1.5% Li2O, in early December 2022; neither of which include the potential additional resources that may be defined in the Colina West area (Figure 1). The MRE and ETR are based on assay results from a total of 47 diamond drill holes for some 10,528m of drilling, with an additional 25 holes completed at Colina and Colina West at the end of the 2022 drilling season, which were not included in the MRE and ETR calculations.

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