Quarterly Activities ReportFor The Period Ending 31 December 2021

Latin Resources Limited (ASX:LRS)(“Latin” or “the Company”) is pleased to report on its activities for the three months ending 31 December 2021.

Highlights

Cloud Nine Halloysite-Kaolin Deposit, WA

• High-grade halloysite results were received from 28 holes in the geostatistical cross drilling programi,ii. Significant intersections in consecutive holes included:
  • NBA356: 12m @ 25% Halloysite from 34m
  • NBA357: 12m @ 24% Halloysite from 32m
  • NBA358: 25m @ 28% Halloysite from 14m
  • NBAC373: 3m @ 18% Halloysite from 3m and 15m @ 21% Halloysite from 10m
  • NBAC374: 16m @ 25% Halloysite from 9m to EOH
• The Company announced a three-year, Research & Development project investigating emission reduction technologies, utilising halloysite from the Cloud Nine depositiii.
• The Company has fast tracked mining and other related studies, focused on an initial simple Direct Shipping Ore (DSO) operation for the Ultrabright white kaolinite materiali.

Salinas Lithium Project, Brazil

• Assays from outcrop sampling on the Bananal Valley tenement returned high-grade lithium of 2.71% Li2O and 1.45% Li2O from adjacent samplesiv.
• The Company re-signed and extended the exclusive 2-year Option on the Bananal Valley 830.691 tenementiv. The Company also secured an exclusive and binding 12-month option over two new concessions (830.219/2017 and 831.799/2005) adjacent to the existing Bananal Valley tenementv.
• Drilling to commence in February, assessing 14 drill sites to test outcropping high-grade Li bearing pegmatites in the Bananal Valleyv.

Solis Minerals Initial Public Offering (IPO)

• Solis Minerals Ltd. (ASX: SLM) successfully listed onto Australian Securities Exchange (ASX) in December following A$5.5 million equity raisingvi. Latin holds a 13.14% interest in Solis post- listing (with a market value of approximately A$1.6 million at the IPO price of $0.20).
• The Solis IPO was well supported by Latin shareholders via a priority offer.

Environment, Social and Governance (ESG)

• Latin advanced progress on several ESG reporting measures, the first ESG report was published on 28 January 2022.

Corporate

• Latin held $2,243,000 in cash and investments as at 31 December 2021.
• The Company received $167,232 in cash from option holders exercising in-the-money LRSOC Options ($0.012 LRSOC, Expiry 31 Dec 2022) during the quarter.

The Company made significant progress on the Cloud Nine Halloysite-Kaolin Deposit (“Cloud Nine”) during the quarter, with drilling confirming high-grades and continuity and a major research project initiated investigating potential commercial uses of halloysite to reduce greenhouse gas emissions, particularly methane emissions from cattle.

At the Salinas Lithium Projects in Brazil, high-grade lithium assays were returned from outcrop sampling, additional tenure was secured and Latin’s first drilling of the project is planned to commence in February 2022.

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