Atlantic Lithium releases DFS for Ewoyaa Lithium Mission

Sayona Mining publishes preliminary technical research for carbonate manufacturing at NAL

BELMONT, N.C.–(BUSINESS WIRE)–$PLL #EV—Piedmont Lithium (the “Firm,” “Piedmont,” “we”, “our” and “us”) (Nasdaq: PLL; ASX: PLL), a developer of lithium assets crucial to the U.S. electrical automobile provide chain, right now introduced that companions Atlantic Lithium (AIM: ALL; ASX: A11) and Sayona Mining (ASX: SYA) have launched technical research on the Ewoyaa Lithium Mission (“Ewoyaa”) in Ghana and the manufacturing North American Lithium challenge (“NAL”) in Quebec, respectively.

Atlantic Lithium Restricted (“Atlantic Lithium”) lately revealed a JORC Code-compliant definitive feasibility research (“DFS”) for Ewoyaa. When implementing a mine plan developed on the idea of 25.6 million metric tons at 1.22% Li₂O of possible ore reserves solely and excluding any mineral assets within the inferred class, the DFS delivers a manufacturing goal of 340,000 metric tons per yr of spodumene focus, half of which is predicted to be delivered to Piedmont Lithium below the Firm’s 50% allocation of manufacturing from Atlantic Lithium’s Ghanaian tasks. The DFS projected strong economics for Ewoyaa, demonstrating an estimated after-tax internet current worth of US$1.4 billion and an after-tax inside fee of return of greater than 100%. Piedmont Lithium is within the strategy of incomes a 50% possession curiosity in Ewoyaa. Primarily based on completion of the DFS and Piedmont Lithium’s election to proceed into challenge growth, the Firm expects to earn the primary 22.5% possession curiosity in Ewoyaa. Atlantic Lithium is progressing via the mine allowing course of, concentrating on building at Ewoyaa to start within the second half of 2024, with first manufacturing anticipated in 2025.

Sayona Mining Restricted (“Sayona Mining”) launched a preliminary technical research for lithium carbonate manufacturing on the working NAL mine. NAL is collectively owned by Sayona Mining (75%) and Piedmont Lithium (25%). The NAL web site features a lithium carbonate facility that was partially accomplished by prior homeowners of the operation. Sayona Mining and Piedmont Lithium plan to work along with technical advisors to carry out a trade-off research of lithium carbonate versus lithium hydroxide manufacturing at NAL, with a definitive technical research to comply with for publication someday in 2024. Spodumene focus operations at NAL have been ramping up since first manufacturing in March 2023, and first industrial shipments to prospects are anticipated in Q3 2023.

Keith Phillips, President and CEO of Piedmont Lithium, commented, “We’re grateful for the excellent work by our companions at Atlantic Lithium and Sayona Mining in advancing these tasks. We count on Ewoyaa to offer the first feedstock for Tennessee Lithium and are within the closing levels of securing the fabric permits wanted to assemble and function the conversion facility. We sit up for the primary spodumene shipments from NAL, anticipated in Q3 2023, and to confirming Piedmont’s transition from lithium developer to lithium producer.”

Atlantic Lithium and Sayona Mining will not be topic to U.S. reporting necessities or obligations, and buyers are cautioned to not put undue reliance on these statements.

About Piedmont Lithium

Piedmont Lithium (Nasdaq: PLL; ASX: PLL) is growing a world-class, multi-asset, built-in lithium enterprise centered on enabling the transition to a internet zero world and the creation of a clear vitality financial system in North America. Our aim is to grow to be one of many largest lithium hydroxide producers in North America by processing spodumene focus produced from property the place we maintain an financial curiosity. Our tasks embrace our Carolina Lithium and Tennessee Lithium tasks in the US and partnerships in Quebec with Sayona Mining (ASX: SYA) and in Ghana with Atlantic Lithium (AIM: ALL; ASX: A11). These geographically diversified operations will allow us to play a pivotal function in supporting America’s transfer towards vitality independence and the electrification of transportation and vitality storage. For extra info, comply with us on Twitter @PiedmontLithium and go to www.piedmontlithium.com.

Ahead-Trying Statements

This press launch incorporates forward-looking statements throughout the which means of or as described in securities laws in the US and Australia, together with statements relating to exploration, growth building and manufacturing actions of Sayona Mining, Atlantic Lithium and Piedmont; present plans for Piedmont’s mineral and chemical processing tasks; Piedmont’s potential acquisition of an possession curiosity in Ewoyaa; and technique. Such forward-looking statements contain substantial and recognized and unknown dangers, uncertainties, and different threat components, a lot of that are past our management, and which can trigger precise timing of occasions, outcomes, efficiency or achievements and different components to be materially completely different from the longer term timing of occasions, outcomes, efficiency, or achievements expressed or implied by the forward-looking statements. Such threat components embrace, amongst others: (i) that Piedmont, Sayona Mining or Atlantic Lithium could also be unable to commercially extract mineral deposits, (ii) that Piedmont’s, Sayona Mining’s or Atlantic Lithium’s properties might not include anticipated reserves, (iii) dangers and hazards inherent within the mining enterprise (together with dangers inherent in exploring, growing, setting up and working mining tasks, environmental hazards, industrial accidents, climate or geologically associated circumstances), (iv) uncertainty about Piedmont’s skill to acquire required capital to execute its marketing strategy, (v) Piedmont’s skill to rent and retain required personnel, (vi) modifications out there costs of lithium and lithium merchandise, (vii) modifications in know-how or the event of substitute merchandise, (viii) the uncertainties inherent in exploratory, developmental and manufacturing actions, together with dangers referring to allowing, zoning and regulatory delays associated to our tasks in addition to the tasks of our companions in Quebec and Ghana, (ix) uncertainties inherent within the estimation of lithium assets, (x) dangers associated to competitors, (xi) dangers associated to the data, knowledge and projections associated to Sayona Mining or Atlantic Lithium, (xii) occurrences and outcomes of claims, litigation and regulatory actions, investigations and proceedings, (xiii) dangers relating to our skill to attain profitability, enter into and ship product below provide agreements on favorable phrases, our skill to acquire adequate financing to develop and assemble our tasks, our skill to adjust to governmental laws and our skill to acquire needed permits, and (xiv) different uncertainties and threat components set out in filings made every now and then with the U.S. Securities and Change Fee (“SEC”) and the Australian Securities Change, together with Piedmont’s most up-to-date filings with the SEC. The forward-looking statements, projections and estimates are given solely as of the date of this press launch and precise occasions, outcomes, efficiency and achievements may differ considerably from the forward-looking statements, projections and estimates offered on this press launch. Readers are cautioned to not put undue reliance on forward-looking statements. Piedmont disclaims any intent or obligation to replace publicly such forward-looking statements, projections, and estimates, whether or not on account of new info, future occasions or in any other case. Moreover, Piedmont, besides as required by relevant legislation, undertakes no obligation to touch upon analyses, expectations or statements made by third events in respect of Piedmont, its monetary or working outcomes or its securities.

Cautionary Observe to United States Traders Regarding Estimates of Measured, Indicated and Inferred Mineral Sources

Info offered herein associated to the mineral assets and mineral reserves of Ewoyaa have been ready in accordance with the necessities of the 2012 Version of the Australasian Code for Reporting of Exploration Outcomes, Mineral Sources, and Ore Reserves (the “JORC Code”). Comparable phrases at the moment are additionally outlined by the SEC in its newly adopted Modernization of Property Disclosures for Mining Registrants as promogulated in its S-Ok 1300 requirements. Whereas the rules for reporting mineral assets, together with subcategories of measured, indicated, and inferred mineral assets, are largely comparable for JORC and S-Ok 1300 requirements, info contained herein that describes Atlantic Lithium’s mineral deposits will not be absolutely akin to comparable info made public by U.S. corporations topic to reporting and disclosure necessities below the U.S. federal securities legal guidelines and the foundations and laws thereunder. U.S. buyers are urged to contemplate Piedmont’s disclosure in its SEC filings, copies of which can be obtained from Piedmont or from the EDGAR system on the SEC’s web site at www.sec.gov.​

In June 2023, Atlantic Lithium introduced the profitable completion of a definitive feasibility research for Ewoyaa in accordance with the JORC Code, demonstrating the potential of Ewoyaa to supply low-cost spodumene focus utilizing a dense medium solely processing approach. Within the Atlantic Lithium definitive feasibility research, 6% of the mined tons within the manufacturing goal are based mostly on the inclusion of inferred assets. Piedmont has disclosed the manufacturing goal and estimated challenge economics of Ewoyaa on the idea of mining and processing of possible ore reserves solely in keeping with info offered by Atlantic Lithium in [Table 1 Section 4][[“‘JORC Code 2012 Table 1’ Section 4 Estimation and Reporting of Ore Reserves”?] of Atlantic’s DFS announcement launched to the ASX on June 29, 2023. We contemplate the manufacturing goal and its related economics as a definitive feasibility research on the idea of processing ore reserves solely.

Traders are cautioned that there’s a low stage of geological confidence related to inferred mineral assets, and there’s no certainty that additional exploration work would lead to a willpower of measured or indicated mineral assets ensuing from the inferred assets, that the inferred assets could be transformed to mineral reserves or that the manufacturing goal itself could be realized.

Contacts

Erin Sanders
SVP, Company Communications &

Investor Relations

T: +1 704 575 2549

E: esanders@piedmontlithium.com

Christian Healy/Jeff Siegel
Media Inquiries

E: Christian@dlpr.com
E: Jeff@dlpr.com