L1M Commences Trading On ASX Following Strong Interest

Lightning Minerals (“L1M” or “the Company”) commences trading on the Australian Stock Exchange (“ASX”) under the code L1M following very strong interest in the IPO. The Company has raised A$7 million to conduct exploration activities for critical minerals and lithium at its 100% owned flagship Dundas project as well as Mt Jewell, Mt Bartle and Mailman Hill projects in Western Australia. The Company received interest from institutional, S708 and retail investors of circa A$40 million.

HIGHLIGHTS

• Lightning Minerals commences trading on the ASX on 22 November 2022
• A$7 million raised to implement an accelerated exploration program at the Company’s 100% owned, highly prospective flagship Dundas project in Western Australia
• A$7 million IPO raise completed through PAC Partners
• Strong interest in IPO totaling circa A$40 million
• The Company is focused on exploration for critical minerals and lithium principally in the Dundas region of Western Australia
• The Dundas region is an emerging lithium and critical minerals hub located near the mining centre of Norseman, Western Australia
• The Company has three other projects in Western Australia: Mt Jewell, Mt Bartle and Mailman Hill, all prospective for critical minerals and base metals

Lightning Minerals’ Chief Executive Officer, Alex Biggs said, “It is a fantastic result for Lightning Minerals to be listed on the ASX, following a lot of hard work by the company, our advisors PAC Partners and our legal team. To be exposed to the critical minerals and lithium thematic is a fantastic opportunity underpinned by our highly prospective Dundas project and supported by the extremely strong response to the IPO. We are excited to begin work immediately at Dundas and look forward to keeping the market updated on our progress”.

DUNDAS PROJECT AREA

The Dundas Project area is located near Norseman in Western Australia and consists of eight tenements totaling 454km². Norseman has a strong history of mining dating back to 1892 and is located 190km south of Kalgoorlie. Historically, Norseman and the Dundas area has experienced mining in gold and nickel although over recent years the region has become an emerging lithium and critical minerals province with multiple discoveries and significant exploration activity.

There are two project areas at Dundas:

a) South/Western tenements surrounding Liontown Resources’ Buldania/Anna lithium project, and
b) North/Eastern tenements approximately 30km to the East of Alliance Mineral Assets’ Bald Hill lithium-tantalum mine.

Click here for the full ASX Release

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