Ann: Prairie Lithium PFS Confirms Extremely Low Operating Cost, page-36

Arizona Lithium Managing Director, Paul Lloyd, commented:
“We are delighted to be able to present the
market with the PFS for our 100% owned Prairie Lithium project. We have a world class Lithium resource that

will produce a quality product at an extremely low operating cost of USD $2,819 per tonne. The PFS applies a
realistic discount rate of 8% and a conservative lithium price of USD 21,000 per tonne. This PFS will stand up
to any evaluation by shareholders and industry participants and
I am very proud of the team’s confidence and
professional integrity to put these realistic and robust numbers out into the public domain. Our initial production
target is 6,000tpa for our first module, which is just the beginning. We believe we will be able to replicate this,
with even lower costs. After we have delivered the first module, the Company aims to sanction further modules
at the same or better economics to the first module. We are now ready to begin drilling the production and
disposal wells and ordering equipment for production starting in 2025”.