Results From First Drilling at Abbotts North Confirm LCT System

Premier1 Lithium Limited (ASX:PLC) (“Premier1” or the “Company”) advises that results have been received from the first drilling program at Abbotts North located 35km north of Meekatharra, Western Australia. The results show elevated lithium across the stacked pegmatites of up to 0.41% Li2O (24ANR007), confirming the continuation of the LCT system down depth and along strike.

HIGHLIGHTS

• Assay results from Abbotts North confirm continuation of LCT system
• Focus shifts to targets identified to the north and east of previous drilling
• Field work over these newly identified areas has commenced
• Premier1 is fully funded for second phase exploration in these areas

A total of 11 RC holes for 1,623m were drilled to test the main outcropping pegmatites at the Buttamiah Prospect. Additional studies of the outcropping pegmatites in the larger Buttamiah Prospect area including fractionation vectoring using K/Rb ratios suggest the core of the system to be located to the east of the previous drilling.

In addition, the data indicate that LCT pegmatites occur within the granites to the north of the drill area. Further mapping and sampling of pegmatites in these areas as well as over the remaining tenement package has commenced. Focus is to delineate drill targets of higher grades and greater thickness that have the potential to form a significant lithium deposit within the existing LCT system.

Premier1 is fully funded for any subsequent phase two drilling program.

Figure 1: Cross-section of intercepted pegmatites showing significant results >0.05% Li2O.

Figure 2: Geological map of the Buttamiah Prospect with collar locations of completed RC drilling.

Significant intercepts from RC drilling undertaken on the Abbotts North project in February 2024 are shown in Table 1a. Drill collar details are shown in Table 1b.

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