OFFICIAL OPENING OF PILGANGOORA LITHIUM-TANTALUM PROJECT MARKS...

OFFICIAL OPENING OF PILGANGOORA LITHIUM-TANTALUM PROJECT MARKS MAJOR MILESTONE FOR PILBARA MINERALS Western Australia’s Minister for Mines and Petroleum officially opens world-class lithium project, marking another key step in Pilbara Minerals’ journey to become a globally significant lithium and tantalum raw materials supplier. Pilbara Minerals Limited (ASX: PLS) (“Pilbara Minerals” or “the Company” today celebrated a major milestone in its rapid emergence as a substantial new global lithium producer with the official opening of the Pilgangoora Lithium-Tantalum Project (“Pilgangoora Project” by Western Australia’s Minister for Mines and Petroleum, the Honourable Bill Johnston MLA. The official opening ceremony was held on site at the Pilgangoora Project, located approximately 120km south of Port Hedland in Western Australia. The opening was also attended by the Federal Minister for Environment and Member for Durack, the Honourable Melissa Price MP; Traditional Owners, the Njamal People; project and offtake partners; and employees. The official opening comes just over four years to the day since Pilbara Minerals’ first drill hole which was followed by an intense program of resource drilling, feasibility studies, approvals, financing and construction of the operation, with first shipment of product recently achieved in October 2018. This rapid project delivery timeline represents one of Australia’s fastest and most efficient major lithium developments of recent times. Stage 1 of the Pilgangoora Project comprises a 2Mtpa mining and processing operation to deliver life-of-mine (LOM) production of 330,000tpa of 6% spodumene concentrate (lithium) and 300,000Ibspa (pounds per annum) of tantalite concentrate (tantalum). During the construction phase, the Pilgangoora Project’s workforce peaked at over 800 people, with its current operational workforce now approximately 200 people. The Stage 1 operation continues to go from strength to strength, with first concentrates produced in June 2018 and the first product shipment leaving Port Hedland on 2 October 2018, and with the second shipment following shortly thereafter. Both product shipments exceeded customer specification requirements which was an outstanding result considering the commissioning and early ramp up phase of the plant. Given the Pilgangoora Project’s scale, demonstrated product quality and expected low-cost of operations, the Pilbara Minerals’ Board recently resolved to progress the Stage 2 expansion to 5Mtpa, which will grow spodumene concentrate production to over 800,000tpa. 100% of the Pilgangoora Project’s production under both the Stage 1 operation and recently approved Stage 2 expansion is underpinned by binding offtake agreements with leading, experienced global offtake partners General Lithium, Ganfeng Lithium, POSCO and Great Wall Motor Company. Pilbara Minerals’ Managing Director and CEO, Ken Brinsden, said the official opening provided an important opportunity to acknowledge the many people who had contributed to Pilbara Minerals’ success. “This is a very proud day for Pilbara Minerals, and I would like to pay tribute to everyone who has helped us through our journey from explorer to producer,” he said. “Every milestone achieved from exploration through to production and first shipment since we completed our first drill hole back in November 2014 is a testament to our great people and project partners.” etc