Resource and Exploration Drilling Results

Atlantic Lithium Limited (AIM: ALL, ASX: A11, OTCQX: ALLIF, “Atlantic Lithium” or the “Company”), the African-focused lithium exploration and development company targeting to deliver Ghana’s first lithium mine, is pleased to announce further assay results from the resource and exploration drilling programme underway at the Ewoyaa Lithium Project (“Ewoyaa” or the “Project”) in Ghana, West Africa.

Highlights:

• Further assay results received for 6,150m of infill and exploration reverse circulation (“RC”) and groundwater monitoring drilling completed at Ewoyaa as part of the broader 18,500m 2023 planned drilling programme.
• High-grade infill drill intersections reported at the Ewoyaa South-2 deposit, designed to convert Inferred to Indicated Resources.
• Newly reported assay results extend mineralisation at the Ewoyaa South-2 and Ewoyaa North-East deposits, outside of the current JORC (2012) compliant 35.3 Mt @ 1.25% Li2O Ewoyaa Mineral Resource Estimate¹ (“MRE” or the “Resource”)
• Additional intersections are reported at the Kaampakrom Ewoyaa Main and Ewoyaa North-West deposits, also outside of the current Resource¹.
• High-grade drill intersections at Ewoyaa South-2, Ewoyaa North-East, Ewoyaa Main and Ewoyaa North-West deposits, reported as downhole intercepts, with estimated true widths included in the intersections table, including highlights at a 0.4% Li2O cut-off and a maximum 4m of internal dilution of:
  • GRC0961: 48m at 1.31% Li2O from 137m
  • GRC0959: 24m at 1.86% Li2O from 10m
  • GRC0943: 29m at 1.37% Li2O from 184m
  • GRC0951: 29m at 1.2% Li2O from 69m
  • GRC0952: 23m at 1.51% Li2O from 23m
  • GRC0955: 13m at 1.19% Li2O from 28m
  • GRC0944: 9m at 1.6% Li2O from 223m
  • GRC0959: 9m at 1.48% Li2O from 44m
  • GRC0960A: 8m at 1.18% Li2O from 75m

“We are pleased to report ongoing drilling assay results across the Ewoyaa Lithium Project, which have returned high- grade infill and extension intersections.

“Further results from the Ewoyaa South-2 and Ewoyaa North-East deposit have extended mineralisation outside of the current Resource envelope, including 48m at 1.13% Li2O from 137m at Ewoyaa South-2, where mineralisation remains open along strike and at depth.

“A total of 18,500m of infill, extensional and exploration RC drilling has been planned for 2023. These programmes are intended to grow and improve the confidence of the Ewoyaa Resource, in turn, improving the economics of the Project.

“We look forward to updating shareholders on our ongoing progress, including as remaining assay results become available.”

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