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Lithium Africa Corp. (TSXV: LAF) (the "Company" or "Lithium Africa") is pleased to announce that it has entered into a definitive agreement dated February 25, 2026 to acquire a large lithium project in South Africa, including a past-producing spodumene mine, a related ore stockpile and 1,675 km2 land package hosting a known field of mapped LCT pegmatites (the "Springbok Project").
Tyron Breytenbach, CEO, stated, "The acquisition of the Springbok Project provides Lithium Africa with an advanced brownfields operation to complement our exciting but earlier stage grassroots programs across Africa. Due diligence by our geological team has identified 30 new spodumene-bearing pegmatites within conceptual trucking distance of the past producing Norrabees pegmatite. Additionally, the >30,000 tonne stockpile provides a near-term source of cash flow that Lithium Africa will seek to monetize to provide a non-dilutive source of exploration capital. This is in line with our business plan of offering the most exploration potential at the lowest share count."
Transaction Terms
Lithium Africa intends to acquire 70% of Namli Exploration & Mining Proprietary Limited ("Namli") in a staged transaction whereby 30% will be acquired immediately upon receipt of authorisation under the South African Currency and Exchanges Act and the remaining 40% will be acquired upon receipt of consent to Lithium Africa acquiring a majority stake in Namli from the South African State Department of Mineral and Petroleum Resources (the "s11 Consent") for consideration of:
- US$1.35 M in cash (paid in two installments of 30% upfront and 70% after receipt of s11 Consent);
- US$150,000 to settle a third-party claim relating to the Springbok Project; and
- US$2.5 M paid over 24 months (monthly payments of US$106,000).
Namli holds a prospecting right (NC13301PR) and a mining permit (NC10950MP) comprising the Springbok Project.
In connection with the acquisition of Namli, the Company will pay a consultant, an arm's length party to the Company and Namli, US$200,000 payable in common shares of the Company upon receipt of approval from the TSX Venture Exchange.
The Springbok Project Overview
The Springbok Project is located in an accessible but sparsely populated part of the Namaqualand region of the Northern Cape, South Africa, approximately 80 km north of Springbok and directly south of the Orange River near the Namibian border (Figure 1).
The Springbok Project includes a past-producing lithium pegmatite mine ("Norrabees") with an associated, historically produced stockpile, both located within an active 5 ha mining permit (Figure 1). This mining permit is within a large (1,675 km2) surrounding prospecting right that provides district-scale exploration upside.
Lithium Africa is seeking a partner to monetize the stockpile and in-pit material, re-focusing the proceeds on the large known pegmatite field, which has been neglected by prior operators.
Figure 1: Location of the Springbok Project.
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The Norrabees mine and stockpile
The Norrabees I pegmatite is an LCT-type pegmatite with lithium mineralization dominated by spodumene and subordinate lepidolite, and it has been exposed by historical mining.
A mineral resource estimate was reported in a NI 43-101 technical report prepared for Moonbound Mining Ltd. (now Cape Lithium Corp.) by Dr. Johan Hattingh of Creo Design (Pty) Ltd., dated January 17, 2024, titled The Norrabees I Pegmatite, South Africa. Mineral Resource Estimate (the "2024 Technical Report"). The 2024 Technical Report includes an inferred mineral resource of (Table 1): (i) 41,420 tonnes at 1.005% Li₂O for the in-situ pegmatite (0.4% Li₂O cut-off grade; SG used in the estimate reported as 2.66 g/cm³), and (ii) 30,259 tonnes at 1.61% Li₂O for the stockpile (zero cut-off grade), for a combined total of 71,679 tonnes at 1.27% Li₂O (all Inferred).
Table 1: Historical In-situ and stockpile resource estimates.
| Classification | Tonnage (t) | Grade (%) | Contained Li2O (t) |
| In-situ Pegmatite (Inferred) | 41,420 | 1.01 | 416.27 |
| Intermediate Stockpile (Inferred) | 30,259 | 1.61 | 487.17 |
| Total Inferred | 71,679 | 1.27 | 903.44 |
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Source: Creo (2024).
The 2018-2019 diamond drilling program reported in the 2024 Technical Report comprised 10 boreholes totaling 321.77 m, with 7 holes intersecting the lithium-mineralized intermediate zone. Reported significant intercepts include, among others, 18.34 m at 1.92% Liâ‚‚O and 32.66 m at 1.09% Liâ‚‚O.
Metallurgical test work described in the 2024 Technical Report includes September 2020 pilot-scale dense media separation (DMS) test work on the Norrabees I stockpile material. The first-stage DMS concentrate achieved an average concentrate grade of 4.89% Liâ‚‚O, and re-processing of a ~50 kg fraction of first-stage concentrate produced concentrates grading 6.41% Liâ‚‚O and 6.76% Liâ‚‚O.
Figure 2: Oblique satellite image of the Norrabees I and II area, including the Norrabees I stockpiles. Source: ESRI, Company Reports.
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The Company has not completed the work necessary to verify results at this time and there is no assurance as to the accuracy or completeness of included information. The historical resource estimate is subject to all of the assumptions, qualifications and procedures set out in the 2024 Technical Report (Creo Design (Pty) Ltd (2024) titled "NI 43-101 Technical Report on The Norrabees I Pegmatite, South Africa. Mineral Resource Estimate"). The historical resource was classified as an inferred estimate and was based on a limited drill data set (10 diamond drillholes totalling 321.77m) and estimated with a 0.4% cut-off grade. The Company considers this historical data to be relevant as the Company will use this data as a guide to plan future exploration programs. The Company also considers the data to be reliable for these purposes, however, the Company's future exploration work will include re-drilling at least 20% of the drillholes using oriented core and systematically testing the down dip and along strike extent of the known Norrabees pegmatite to better define the geometry and continuity.
A qualified person has not done sufficient work to classify the historical estimate as current mineral resources and the Company is not treating the historical estimate as current mineral resources.
Regional exploration
The Springbok Project is situated within a region that hosts widespread LCT pegmatites. During due diligence, the Company determined that while prior operators focused on the Norrabees area, the project hosts a >20 km trend of mineralized pegmatites. A 30-day reconnaissance mapping program conducted in 2025 identified 30 newly identified spodumene-bearing pegmatites (Figure 3).
The Company intends to complete a regional structural study and mapping program to identify the largest- and highest-grade pegmatites for detailed exploration. Mineralization observed to date is dominated by spodumene with minor lepidolite.
The newly identified pegmatites described above are early-stage targets generated from reconnaissance work; additional work (including systematic sampling and analytical verification) is required to confirm the distribution, continuity, and grade of mineralization and to determine whether any of these targets host mineral resources.
Figure 3: Regional target extends >20km. Source: Company Reports
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Technical Information
Benjamin Gelber, P.Geo, a non-independent Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects and VP Exploration of the Company, has reviewed and approved the technical disclosure contained herein.
The Company has not verified any of the information regarding the Springbok Project other than
i) Site visit including overseeing the collection of check samples of the stockpile, prior mining locations and regional pegmatites.
ii) Locate and record collar locations for the drilling discussed in the report and record GPS location of the surface footprint and volume estimates of the surface stockpiles.
iii) Data from previous exploration conducted was supplied to Lithium Africa and its consultants in electronic format. This data was reviewed and used for plotting and checks/validation.
The Lithium Africa project team continues to plan, collect, compile, review, and validate relevant technical data for the Springbok Project.
About Lithium Africa Corp.
The Company has an established 50/50 joint venture partnership with GFL International Co., Ltd. to jointly advance exploration in Africa (the "LAF-GFL JV") and through the LAF-GFL JV, the Company has an indirect 50% interest in a portfolio of exploration assets in hard rock pegmatite districts across a number of prospective African regions covering Ivory Coast, Guinea, Mali, Morocco and Zimbabwe. For more information, please visit www.li-africa.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF Lithium Africa CORP.
Tyron Breytenbach, CEO & Director
For further information regarding the Company contact:
Jeanne Liu, Investor Relations at investors@li-africa.com, 1.604.771.7125.
Cautionary Note Regarding Forward-Looking Statements
Statements contained in this news release that are not historical facts may be forward-looking statements, including statements in respect of the acquisition of Namli, the receipt of the s11 Consent and the intended work programs on the Springbok Project. These forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In addition, the forward-looking statements require management to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that the forward-looking statements will not prove to be accurate, that the management's assumptions may not be correct and that actual results may differ materially from such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements. Generally forward-looking statements can be identified by the use of terminology such as "anticipate", "will", "expect", "may", "continue", "could", "estimate", "forecast", "plan", "potential" and similar expressions. These forward-looking statements are based on a number of assumptions which may prove to be incorrect which, without limiting the generality of the following, include: risks inherent in exploration activities; the impact of exploration competition; unexpected geological conditions; changes in government regulations and policies, including trade laws and policies; failure to obtain necessary permits and approvals from government authorities; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; the ability to raise funds through private or public equity financings; environmental and safety risks including increased regulatory burdens; weather and other natural phenomena; and other exploration, development, operating, financial market and regulatory risks. The forward-looking statements contained in this press release are made as of the date hereof or the dates specifically referenced in this press release, where applicable. Except as required by applicable securities laws and regulation, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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