Short Term Trading Week Starting: 23 Jul, page-46

CXO
24 July 2018

New high-grade assay results expected to expand Grants lithium Mineral Resource

HIGHLIGHTS
• Multiple new high-grade lithium intersections outside the Mineral Resource at Grants include:
o 67m @ 1.57% Li2O from 191m in FRC151
▪ Including 16m @ 2.17% Li2O
▪ And 12m @ 2.08% Li2O
o 45m @ 1.72% Li2O from 188m in FRC154
▪ Including 22m @ 2.09% Li2O
o 45m @ 1.72% Li2O from 142m in FRC159
▪ Including 16m @ 2.03% Li2O
o 30m @ 1.70% Li2O from 206m in FRC153
▪ Including 2m @ 2.12% Li2O

• New assays confirm significant extensions directly south along strike and at depth at Grants - outside of the existing defined Mineral Resource.

• These extensions demonstrate the potential to further increase the size of the Mineral Resource and mine life at Grants, which is expected to have material positive impact on the financial returns from development of the proposed 1Mtpa Finniss Lithium Project.

• Drilling underway at BP33 and first assays expected in coming weeks.

• Drilling then to recommence at Grants to test further down plunge.