ATLANTIC LITHIUM LTD - ALLIF STOCK NEWS

Atlantic Lithium Limited (AIM:ALL)(OTCQX:ALLIF) announced that its Directors and individuals with managerial responsibilities have acquired a total of 2,454,677 ordinary shares at an average price of 27.34p, totaling £671,231. The purchases were made by Executive Chairman Neil Herbert, who acquired 1,883,177 shares, and Finance Director Amanda Harsas, who acquired 571,500 shares. Following these transactions, Herbert now holds 7,348,892 shares (1.21% of issued capital) and Harsas holds 733,371 shares (0.12%). This activity reinforces confidence in the company as it progresses towards developing Ghana's first lithium mine.

Atlantic Lithium Limited has announced the commencement of auger drilling at the Ewoyaa Lithium Project in Ghana, as part of their extensive 2023 exploration initiative. Over five months, approximately 20,000m of auger drilling will be carried out, focusing on multiple targets to define pegmatite footprints. Concurrently, 10,000m of resource infill and extensional drilling is planned to enhance the current mineral resource estimate of 35.3Mt at 1.25% Li2O. The Definitive Feasibility Study is on track for completion by the end of Q2 2023, ensuring that ongoing drilling will not delay its delivery.

Atlantic Lithium Limited (AIM: ALL, OTCQX: ALLIF) reports a significant increase in the Ewoyaa lithium deposit's Mineral Resource Estimate (MRE) to 35.3Mt at 1.25% Li2O, with 79% classified as Measured and Indicated resources. Key highlights include 3.5Mt at 1.37% Li2O in the Measured category and 24.5Mt at 1.25% Li2O in the Indicated category. The project, located in Ghana, shows strong geological continuity and is well-positioned for further exploration. The Definitive Feasibility Study (DFS) is set for release in Q2 2023, promising improved project economics. Previous studies indicated revenues of over US$4.84bn with a Post-tax NPV8 of US$1.33bn.

Atlantic Lithium Limited (AIM:ALL, OTCQX:ALLIF) has announced an Extraordinary General Meeting (EGM) on March 1, 2023, regarding proposed grant of options to directors aimed at aligning their incentives with shareholder value. The EGM will take place in Brisbane, Australia, at 9:00 AM local time. A total of 7 million options with a strike price of 60 pence are set to be issued to the executive team, ensuring their interests are aligned with the company's growth. Additionally, Atlantic Lithium is progressing its flagship Ewoyaa Project in Ghana, which is on track to become the country's first lithium-producing mine, with projected revenues exceeding US$4.84 billion.

Atlantic Lithium has released its Quarterly Activities Report for the period ending December 31, 2022. The company successfully lodged a Mining License Application for the Ewoyaa Lithium Project in Ghana, marking a significant step towards becoming Ghana's first lithium mine. Highlights included the completion of a 47,000m drilling program, with promising assay results, and the appointment of key personnel including a new COO. Cash resources stand at A$19.1 million, with ongoing support from Piedmont Lithium. The contract for the processing plant's engineering design was awarded to Primero Group, ensuring progress towards project development.

Atlantic Lithium Limited has been recognized in the 2023 OTCQX Best 50, highlighting its performance on the OTCQX market. The company's shares, traded under the ticker ALLIF, have benefited from increased North American investor engagement since its listing. This ranking is based on total return and average daily dollar volume growth from the previous year. Atlantic Lithium is focused on advancing the Ewoyaa Lithium Project in Ghana, aiming to establish the country's first lithium mine, with projected revenues exceeding US$4.84 billion.

Atlantic Lithium Limited (AIM: ALL, ASX: A11, OTCQX: ALLIF) has announced a corporate update regarding changes to the terms of existing Share Options held by the Estate of its late founder, Vincent Mascolo. The Board has amended the expiry date of unlisted Options to match the original issuance dates. Specifically, 5,000,000 Options at 40 pence and 6,000,000 Options at 50 pence will now expire on August 18, 2023. This move aims to provide clarity and continuity following Mascolo's passing.

Atlantic Lithium Limited has awarded a US$980,000 Front-End Engineering Design (FEED) contract for its Ewoyaa Lithium Project in Ghana to Primero Group. This contract aims to enhance the project's profitability and minimize execution risks as it moves towards production, making it Ghana's first lithium-producing mine. Additionally, Roux Terblanche has been appointed as Project Manager, bringing over 25 years of industry experience. An updated Mineral Resource Estimate is expected in Q1 2023, supporting a feasibility study by mid-2023.

Atlantic Lithium has successfully passed all resolutions during its Annual General Meeting held on November 30, 2022, in Brisbane, Australia. The company focuses on establishing Ghana's first lithium mine through its flagship Ewoyaa Project, which is backed by a $103 million funding agreement with Piedmont Lithium. The project is projected to generate over $4.84 billion in revenues, utilizing a simple gravity process for spodumene concentrate production. Atlantic Lithium holds extensive licenses across Ghana and Côte d'Ivoire, enhancing its growth potential in the lithium sector.