Exploration Program Underway at the Advanced Hidden Lake Lithium Project, NWT Canada

Loyal Lithium Limited (ASX: LLI) (Loyal or the Company) is pleased to announce that it has initiated a comprehensive exploration program at the recently acquired Hidden Lake Lithium Project (Project), with 315 untested individual outcrops identified via high-resolution satellite imagery. These untested pegmatite targets are in addition to the four main spodumene rich dykes, which have a drill and channel tested cumulative strike length of 2,250m, and remain open along strike and depth.

Highlights:

• Exploration underway at Loyal Lithium’s advanced, high-grade Hidden Lake Lithium Project near Yellowknife, Northwest Territories, Canada.
• Acquisition of high-resolution satellite imagery has identified numerous unsampled pegmatites confirming the underexplored nature of the Project.
• Newly identified pegmatite targets are in addition to the existing four spodumene rich dykes that were drilled in 2018 to a limited depth of 30-50 metres, with all drill holes intercepting high-grade spodumene of up to 1.81% Li2O.
• Existing four high-grade dykes have a cumulative strike length of 2,250m remain open along strike and at depth1 .
• Exploration program to include both in-field and airborne activities with planning underway for 3,300m drill program planned for the upcoming Canadian winter.
• Dahrouge Geological Consulting have been engaged as lead geological consultant for the Hidden Lake Lithium Project.
• Loyal Lithium is executing its FY23 Strategic Business Plan, as it formally transitions from a junior lithium explorer to an emerging lithium developer.

Figure 1 – Satellite image Pléiades 2022 visible. Known spodumene pegmatites, highlighted in yellow, with new targets identified in white

Loyal Lithium’s Managing Director, Mr Adam Ritchie, commented:

"It’s been a pleasure to spend some valuable time in Yellowknife over the last few months and meet so many passionate locals. Sharing the Loyal Lithium story and vision ahead of this exploration program has provided us with a great opportunity to understand the history and status of the Yellowknife region. We look forward to working with the First Nations as well as all other levels of the local community to uncover the potential of the Hidden Lake Lithium Project and lithium in the Northwest Territories.

“With the first phase of our exploration program now underway, we can immediately see the potential of this underexplored project. The impressive historical metallurgical results are likely a product of the metasediment geological setting, with simple minerology resulting in large spodumene crystals throughout the pegmatites.”