Zinnwald Lithium plc / EPIC: ZNWD.L / Market: AIM / Sector:...

Zinnwald Lithium plc / EPIC: ZNWD.L / Market: AIM / Sector: Mining

4 June 2024

Zinnwald Lithium plc ("Zinnwald Lithium" or the "Company")

Saxony Government Support for the Zinnwald Lithium Project

Zinnwald Lithium Plc (AIM:ZNWD) is pleased to note that this morning the Cabinet of the State of Saxony has instructed the Minister of Economic Affairs, Martin Dulig, to conclude administrative agreements ("Agreements") with the German Federal Ministry of Economics ("BMWK") for two battery-chain projects in Saxony, one of which being the Zinnwald Lithium Project. The Agreements are to provide grant funding support for the Project by the State of Saxony in conjunction with the Federal Government under the EU's Temporary Crisis and Transition Framework ("TCTF").

This decision does not guarantee that funding will be secured under the TCTF. The Federal Government expects to make a formal decision on recommended projects during 2024 and final funding decisions at the end of the year. The Parliament of the State of Saxony will also need to formally approve its portion of any funding.

Zinnwald Lithium CEO, Anton du Plessis, commented: "We are delighted by this strong expression of support from the Government of the State of Saxony for the Zinnwald Project. Whilst there are no guarantees whether and how much grant funding the Project may eventually receive, this is a further indication of the importance being placed on encouraging domestic sources of supply of critical raw minerals in Germany and the EU."