Positive Drilling Results At Manna Underpin Potential Future Resource Upgrade

Key Highlights

• Highlights from the latest RC and Diamond results include:
  
  • MRC0126, 17m @ 1.60% Li2O from 114m
  • MRC0108, 15m @ 1.20% Li2O from 107m
  • MRC0141, 13m @ 1.40% Li2O from 34m
  • MRC0126, 10m @ 1.33% Li2O from 227m
  • MRC0137, 12m @ 1.24% Li2O from 282m
  • MRC0141, 9m @ 1.27% Li2O from 164m
  • MRCD0059, 9.43m @ 1.18% Li2O from 283m
  • MRCD0133, 9.41m @ 1.68% Li2O from 341m
  • MRCD0133, 6.43m @ 1.50% Li2O from 306m
  • MRCD0090, 9.01m @ 1.00% Li2O from 462m
  • MRCD0080, 7.45m @ 1.13% Li2O from 232m
• New significant assay results are not included in the recently upgraded Manna Mineral Resource¹, or the Manna Scoping Study, due for completion in Q1 CY23
  
• An additional 3,500m assay results from the 2022 drilling program remain outstanding, further underpinning the growth potential of the existing Manna Mineral Resource
• Scale and timely delivery of the Manna 2022 drilling program highlights GL1’s commitment to develop the project

At the end of the Manna 2022 drilling program there was approximately 5,000 outstanding assays in the laboratory system. These assays were not included in the significant mineral resource estimate (MRE) upgrade announced by Global Lithium¹ on 15^th December 2022.

The assay results announced today together with these outstanding ~3,500m of assays have not been included in the Scoping Study due for completion in Q1 CY23. These assay results will be added to the current MRE at Manna, to further extend the known size and increase the confidence levels of the classification of the Manna Deposit.

Within the 2022 drilling program, the RC rigs completed 49,071m of drilling along with 5,479m of Diamond core drilling. A drilling campaign of this size carried out safely within a year, is a clear indication of the Company’s commitment to develop the Manna Lithium deposit into a mine within the shortest possible timeframe.

The 2023 exploration program is currently underway to map out the larger tenement area since reaching 100% ownership of the Manna Lithium Project through acquisition². This program will target prospective geological structures and host rocks for lithium deposits and follow known structural extensions of the current Manna deposit that previously lay outside the joint venture boundary. Up to 30,000m of RC and Diamond drilling is planned for this program.

The Diamond drilling (core) will be utilised as part of the metallurgical test program³.

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