Ann: Lithium Australia quarterly activities report - December 21, page-8

I looked over to Charger , do non holder mean I should get out of LIT now ?

Lithium Australia has progressively farmed out its exploration portfolio. In so doing, it has accumulated equity interests in the public companies managing the projects.

The Company also retains project interests in the following.

• ▪ Greenbushes South project, Western Australia – 20% free carry until completion of a preliminary feasibility survey ('PFS') (manager: Galan Lithium Ltd (ASX: GLN)).

• ▪ Bynoe project, Northern Territory – 30% free carry until completion of a DFS (manager: Charger Metals NL (ASX: CHR)).

• ▪ Coates project, Western Australia – 30% free carry until completion of a DFS (manager: Charger Metals NL (ASX: CHR)).

  Galan Lithium Ltd has completed geophysical and geochemical surveys at Greenbushes South, which is along strike from and abuts the Greenbushes mine, the world’s largest hard-rock lithium mine. Galan Lithium Ltd has identified exploration targets within the project area.

  At Bynoe, Charger Metals NL undertook geochemical sampling where geophysical surveys suggest that identified pegmatites lie along strike from the lithium discoveries of Core Lithium Ltd (ASX: CXO). Subsequent to the end of the quarter, Charger Metals NL revealed a number of drill- ready lithium targets within the project area.