ATLANTIC LITHIUM LTD - ALLIF STOCK NEWS

Atlantic Lithium has announced a significant upgrade to its Ewoyaa lithium deposit, increasing the Mineral Resource Estimate by 42% to 30.1Mt at 1.26% Li₂O. This upgrade positions the company as a key player in West Africa's lithium mining sector. The resource includes an impressive 20.5Mt at 1.29% Li₂O categorized as Indicated. Ongoing drilling and exploration efforts are expected to further enhance the resource. The project's strategic location near infrastructure and its robust financial outlook are anticipated to improve project economics significantly.

Atlantic Lithium Limited has commenced drilling at the Ewoyaa Lithium Project in Ghana, where a JORC compliant Mineral Resource Estimate of 21.3Mt @1.31% Li2O has been defined. The drilling program includes approximately 19,000m of exploration and resource extension drilling. Recent updates from a Scoping Study highlight impressive financial metrics, projecting over US$3.43bn in revenues and a post-tax NPV of US$789m. The Company is positioned to benefit from increasing lithium demand, enhancing its status as a leading asset.

Atlantic Lithium Limited has appointed Amanda Harsas as Finance Director, effective immediately. Harsas brings over 20 years of experience in strategic finance and capital management, having previously worked in various sectors including healthcare and insurance. Chairperson Neil Herbert praised her performance since 2020 and emphasized the importance of her role as the company moves towards lithium production in Ghana. Harsas currently holds 161,871 shares in the company and has options on 2.5 million shares set to expire on April 8, 2023.

Atlantic Lithium Limited (AIM:ALL)(OTCQX:ALLIF) mourns the sudden passing of CEO Vincent Mascolo, who was instrumental in establishing the company. His leadership and dedication significantly contributed to the firm’s growth in the mining sector. Vincent was widely respected and known for his mentorship within the industry. The Board expresses deep condolences to his family and friends. Communications regarding company matters should now be directed to Len Kolff, Amanda Harsas, or Neil Herbert while further announcements are forthcoming.

Atlantic Lithium Limited announced final high-grade infill drilling results from the December 2021 campaign at its Ewoyaa Lithium Project in Ghana. The updated JORC compliant Mineral Resource Estimate is now 21.3Mt at 1.31% Li₂O, enhancing project economics significantly. Highlights include multiple intersections such as 30m at 1.5% Li₂O. The revised Scoping Study indicates Life of Mine revenues exceeding US$3.43bn and an impressive IRR of 194%. The company aims to increase resource estimates and extend the mine life beyond 12 years.

Atlantic Lithium has announced significant infill drilling results at its Ewoyaa Lithium Project in Ghana, with an updated JORC resource of 21.3Mt @ 1.31% Li₂O. Highlights include drill intersections such as 65m at 1.66% Li₂O and 23m at 1.64% Li₂O. The recent scoping study predicts LOM revenues exceeding US$3.43bn with a 194% IRR over 11.4 years. The company is also targeting resource upgrades, anticipating an increase to over 24Mt to support a planned 12-year mine life.

Atlantic Lithium Limited announced promising infill drilling results at the Ewoyaa Lithium Project in Ghana, confirming mineralization grade and continuity. The updated JORC resource now stands at 21.3Mt @ 1.31% Li₂O, enhancing project economics. Key drill results include:

• GRC0501: 45m at 1.54% Li₂O
• GRC0478: 33m at 1.61% Li₂O
• GRDT0455: 31.2m at 1.66% Li₂O

The Scoping Study shows LOM revenues exceeding US$3.43bn and a post-tax NPV₈ of US$789m. Exploration continues with additional drilling planned.

Atlantic Lithium Limited (AIM:ALL)(OTCQX:ALLIF) has successfully completed the in-specie distribution of shares in Ricca Resources Limited to eligible shareholders. This distribution complements Ricca's non-renounceable pro-rata rights issue to Atlantic Lithium shareholders. With 143,435,996 fully paid ordinary shares in Ricca, this strategic move enables Atlantic Lithium to concentrate solely on lithium operations. The updated scoping study for the Ewoyaa Lithium Project highlights potential revenues exceeding US$3.43 billion over an 11-year lifespan, with a post-tax NPV of US$789 million.

Atlantic Lithium Limited has announced a significant change in voting rights following a threshold notification. On December 20, 2021, DGR Global Limited crossed the reporting threshold, now holding 10.78% of voting rights, equivalent to 61,851,851 shares. This marks a decrease from the previous holding of 12.81% of voting rights, which represented 73,022,667 shares. This notification highlights important shifts in stock ownership that could impact shareholder dynamics and corporate governance.