Ongoing Testwork Continues To Demonstrate Exceptional Metallurgy Of Salinas Lithium Project With Over 80% Recovery Of Li2o

Latin Resources Limited (ASX: LRS) (“Latin” or “the Company”) is pleased to provide an update on an expanded program of metallurgical test work completed on drill core from the Company’s 100% owned high-grade Salinas Lithium Project (“Salinas”) (Appendix 1).

HIGHLIGHTS

• Crush size doubled to 12.5mm and recoveries and grade remain high demonstrating very coarse liberation of spodumene:
  • Average recovery of 80.5% of Li2O; and
  • production of extremely high-grade Li2O concentrate (up to 6.6%) from simple Heavy Liquid Separation (HLS).
• Exceptionally clean concentrates in -12.5mm+6.3mm size range. Concentrates well above 7.0% and as high as 7.96% Li2O achieved.
• Results show excellent consistency across the width and depth of the known ore body.
• Very coarse liberation results in minimal fines generation (~12%) which indicates a final plant design may have a low reliance on floatation as a necessary step to achieving high Li2O recovery. In addition, it indicates a reduced size of any floatation plant if this option is pursued.
• Consistently low Fe grades in head samples and HLS concentrates is promising for the marketability of Salinas concentrates.
• The Company intends to proceed with bulk pilot plant testwork based on the very encouraging results obtained in this program.

Latin Resources’ General Manager of Geology, Tony Greenaway, commented:

“The latest round of testwork is extremely encouraging for our recoveries at Salinas and we are delighted with the consistency of results we have been able to achieve.

“We are very pleased to report very high recoveries and the production of a high-grade concentrate from simple HLS, and while these results cannot be directly translated to an operational environment, they do have very significant implications for the marketability and the economics of our concentrate.

“We intend to progress this into bulk pilot plant testwork, where we will optimise the flowsheet for the planned detailed PEA program that is planned to be completed by SGS in the first quarter next year.”

Colina Prospect – Metallurgical Test Work Results

Latin commissioned SGS GEOSOL laboratories (“SGS”), Belo Horizonte Brazil to undertake a program of HLS testwork on 10 samples representing the total strike length of the current resource drilling program. A total of 367kg of representative sample was collected and each of the samples included interstitial waste between ore zones to simulate expected mining dilution.

One of the main objectives of this program was to investigate potential variability in metallurgical performance across the deposit, and at varying depths. Half of the samples were targeted in the top 50-100m of the ore body with the other half of the samples taken from the bottom 100-150 of the deposit. Results have been independently reviewed and interpreted by Met Assist Pty Ltd, whose key personnel have significant experience in lithium processing, metallurgy, and process plant design.

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