FIRST 2 PAGES:Activities Report for the Quarter ending 30...

FIRST 2 PAGES:
Activities Report for the Quarter ending 30 September 2022
Highlights
• AVZ remained in high level discussions with the DRC Government
with respect to its mining and exploration rights for the Manono
Lithium and Tin Project (“Manono Project”)
• Sole arbitrator appointed by International Chamber of
Commerce in Paris to hear arbitration proceedings instigated by
Jin Cheng Mining Company Limited
• Completion of US$240M cornerstone investment with Suzhou
CATH Energy Technologies (“CATH”) extended by mutual
agreement to 31 December 2022
• Diamond drilling recommences at Manono Project with a
planned 15,000m drilling program at Roche Dure, with the first 8
holes mineralised with coarse crystalline spodumene present
• Dathcom Mining SA hosted a team of international medical
researchers assisting the local community
• Progressed early works program and Camp Colline construction
AVZ Minerals Limited (ASX: AVZ, OTC:AZZVF, “the Company”) presents
its Quarterly Activities Report for the period ended 30 September 2022
and is pleased to provide the following commentary and update to
shareholders.
AVZ Managing Director, Mr. Nigel Ferguson said: “The September
Quarter has certainly proved frustrating for the Company as we patiently
await a decision on the Mining Licence and continued to deal with
spurious claims with respect to AVZ’s legal ownership interest in the
Manono Project1.
“AVZ has been actively engaged with the highest levels of the Congolese
Government with respect to the granting of the Mining Licence and
regarding our ownership and exploration rights for the Manono Project.
Despite the headwinds the Company has faced, the early works program
progressed with construction of Camp Colline, infrastructure upgrades,
critical equipment purchases and extension drilling at Roche Dure.
1 Refer to ASX Announcement dated 9 September 2022 –
“Arbitration Proceedings and Investigations
Update”.


ASX ANNOUNCEMENT
31 October 2022
AVZ Minerals Limited
Level 2, 1 Walker Avenue,
West Perth WA 6005
Australia
T: + 61 8 6186 7600
F: + 61 8 6118 2106
E: [email protected]
W: www.avzminerals.com
ABN 81 125 176 703
Directors
Non-Executive Chairman: John Clarke
Managing Director: Nigel Ferguson
Technical Director: Graeme Johnston
Non-Executive Director: Rhett Brans
ASX Code: AVZ
OTC Code : AZZVF

| 2
“AVZ confirms it retains legal title to a 75% interest in the Manono Project after exercising its
option(s) in August 2021 over a 5% and 10% equity interest in Dathcom, and paying the final
instalment of US$20 million (~A$27 million) under the two Sale and Purchase Agreements
(Dathomir SPAs) signed with Dathomir Mining Resources SARL (Dathomir), with the remaining
25% held by La Congolaise D’Exploitation Miniere SA (Cominiere).
“Following the official award of the Mining Licence, Cominiere will cede a free carried 10% of
its remaining interest in the Manono Project to the DRC Government under the terms of the
Joint Venture Agreement.
“AVZ – via its wholly-owned subsidiary AVZ International Pty Ltd (AVZI) – is in advanced
discussions with the DRC Government regarding the purchase of Cominiere’s remaining 15%
interest in Dathcom, under its pre-emptive right provided under the existing Dathcom
Shareholder Agreement.
“AVZ and AVZI are progressing the sale of a 24% equity interest in the Manono Project to CATH
under a multi-faceted Transaction Implementation Agreement (“TIA”) signed in September
2021. Post completion of the TIA, AVZ will hold an indirect interest in 51% in the Manono
Project, excluding Cominiere’s 15% equity interest, which is subject to its existing perpetual
pre-emptive right and is currently under discussion with the DRC Government.
“The Company is confident of a positive outcome in relation to the award of the Mining Licence
and positive Financial Investment Decision (FID) to develop what is believed to be the largest
undeveloped hard rock lithium deposit.”
Voluntary Suspension
The Company’s securities remained in Voluntary Suspension during the September Quarter
pending the finalisation of the mining and exploration rights for the Manono Project.

Arbitration Proceedings instigated by Jin Cheng
The International Chamber of Commerce in Paris has appointed a sole arbitrator to hear the
arbitration proceedings brought by Jin Cheng Mining Company Limited2. A case management
conference will be convened with both Parties with a view to setting the timetable of the
arbitral proceedings and the execution of the terms of reference.
2 Refer ASX Announcement dated 4 May 2022 “Ministerial Decree to Award the Mining Licence Manono Lithium and Tin
Project”
Extension of Transaction Implementation Agreement (TIA) with CATH
During the September quarter, the Company and CATH mutually agreed to extend the
completion date for its TIA3 from 30 September 2022 to 31 December 2022. Both parties
remain 100% committed to closing the TIA and developing the Manono Project.

GLAH