Translated (google) from Portuguese into English Dakota...

Translated (google) from Portuguese into English

Dakota Minerals, the miner looking for lithium occurrences in Trás-os-Montes to justify exploration for supply to the European battery industry, has proposed a change of name to a Portuguese designation that reflects the largest bet in the country.

The decision, which will be taken on May 31 at the General Assembly, will make Dakota Minerals in New Lithium, Ltd, a statement from the Australian company distributed this Friday, April 28 to investors and to which the Business had access .

In the document, the company explains that after having sold on 1 December the Lynas lithium prospecting project in Australia started to focus its operations on the European market with the aim of being a "sustainable supplier" of carbonate And lithium hydroxide in the Old Continent.

"The managers consider that the name change is necessary to reflect the fact that the current bet and the company's activities are being developed in Portugal," reads the statement .

The change of designation has to be approved by 75% of the shareholders' votes and will also have an impact on the stock market quotation: in the Australian market it will be identified by the "NLI" code, instead of the current "DKO".

Since the beginning of this month the shares of the Australian company have been quoted in addition to Sidnei, also in Frankfurt, in a strategy to increase the liquidity and the visibility of securities with European investors. In the German square, they negotiate under the title "ORM".

The Australian company has developed in recent months prospects in the Sepeda concession, Montalegre municipality, where it tries to locate mineral occurrences that justify the exploitation of lithium in the region. Here, according to the company, the "largest pegmatitic lithium-cesium-tantalum type at European level" was detected according to Australian reporting standards.

The possibility is for the construction of a mine and mineral processing facilities, with a potential investment of EUR 370 million to create 200 jobs, which the company says will make it a sustainable lithium supplier for Europe, Lithium-ion battery industry, whether for ceramic and glass.

So far, in the three phases, it has already performed more than 5,000 meters of perforations and awaits during the second semester conclusive results of metallurgical studies that can prove the existence of high concentrations of lithium and justify the advance for more investments