Ann: Quarterly Activities Report-LTR.AX, page-2

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During the Quarter, Liontown signed a binding term sheet to acquire the Kathleen Valley Project from
Ramelius Resources Limited, which is currently conducting gold mining operations which are expected to
conclude later this year.
Liontown’s initial focus at Kathleen Valley will be the Mt Mann area (Figure 5), where a publicly available
report and previous mapping has documented a 3.5km by 1km swarm of spodumene-bearing pegmatites
and where rock chip sampling has recorded multiple high-grade lithium and tantalum values (Figure 6),
including:
 3.5% Li2O and 158ppm Ta2O5
 2.6% Li2O and 249ppm Ta2O5
 2.5% Li2O and 103ppm Ta2O5
 2.5% Li2O and 286ppm Ta2O5
 2.8% Li2O and 214ppm Ta2O5
 3.9% Li2O and 381ppm Ta2O5
(A full listing of statistics for the rock chip sampling is provided in Appendix 2.)
Figure 6: Kathleen Valley Project – Northern area showing prospect areas, rock chip sampling and better lithium results