REG - Atlantic Lithium Ltd - Ewoyaa Lithium Project - Mining Lease Update

Atlantic LithiumAnnouncement

18/07/2025 07:00

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RNS Number : 6463R  Atlantic Lithium Limited  18 July 2025

 

18 July 2025

Ewoyaa Lithium Project - Mining Lease Update

Atlantic Lithium Limited (AIM: ALL, ASX: A11, GSE: ALLGH, OTCQX: ALLIF,
"Atlantic Lithium" or the "Company"), the Africa-focused lithium exploration
and development company targeting the delivery of Ghana's first lithium mine,
provides the following update regarding the status of the Mining Lease in
respect of its flagship Ewoyaa Lithium Project ("Ewoyaa" or the "Project") in
Ghana.

The Company welcomes the comments made during the parliamentary session on
Wednesday, 16 July 2025, in which the Minister of Lands and Natural Resources,
Hon. Emmanuel Armah-Kofi Buah, confirmed that Cabinet had authorised that
revised terms of the Mining Lease be negotiated and presented for review by
Cabinet, and by Parliament thereafter, per the necessary process for
parliamentary ratification.

In his remarks, the Minister highlighted the importance of the job creation
potential that the Project presents, noting the immense support from residents
of the Project's catchment area in the Central Region for the continued
advancement of the Project, in addition to the economic benefits that Ewoyaa
is expected to generate.

The Project is expected to play an important role in the socio-economic
development of the region through its spodumene concentrate production
activities and offers considerable employment for Ghanaians, which, the
Company believes, aligns with objectives set by President John Mahama during
his successful December 2024 election campaign.

The Mining Lease was granted by Ghana's Ministry of Lands and Natural
Resources in respect of the Project in October 2023 during a period of
elevated lithium prices. Since then, lithium prices have fallen significantly.
As previously disclosed, the Company has engaged relevant stakeholders in
Ghana, including government representatives, to seek fiscal terms of the
Mining Lease that reflect the current lithium pricing environment and that
ensure that the Project delivers long-term benefits for Ghana and Ghanaians.

With all of the necessary regulatory approvals secured, parliamentary
ratification of the Mining Lease represents the final stage of the Project's
permitting phase and will enable the Company to advance the financing of the
Project.

The Company remains confident that ratification of the Mining Lease will be
forthcoming in accordance with due parliamentary process and is supporting the
process where possible.

Further updates will be provided to shareholders as and when appropriate.

Commenting, Chief Executive Officer Keith Muller said:

"We remain actively engaged in discussions with relevant stakeholders in Ghana
to consider a revision of the fiscal terms of the Ewoyaa Mining Lease that
were initially agreed in October 2023 and welcome the recent comments made by
the Hon. Minister of Lands and Natural Resources regarding the Project's
latest progress.

"Having seen a significant shift in the lithium price environment since the
Mining Lease was granted, we are seeking terms that reflect prevailing market
conditions and that ensure the Project can deliver value for shareholders and
the generational benefits that Ewoyaa promises for Ghana and Ghanaians,
including significant job creation and socio-economic development of the
Project's catchment area in the Central Region.

"We look forward to providing further developments in due course."

 

Authorised for release by Amanda Harsas, Finance Director and Company
Secretary, Atlantic Lithium Limited.

 

For any further information, please contact:
Atlantic Lithium Limited

Keith Muller (Chief Executive Officer)

Amanda Harsas (Finance Director and Company Secretary)

                   www.atlanticlithium.com.au
                   IR@atlanticlithium.com.au
                   Tel: +61 2 8072 0640
 SP Angel Corporate Finance LLP      Yellow Jersey PR Limited                                           Canaccord Genuity Limited

 Nominated Adviser                   Charles Goodwin                                                    Financial Adviser:

 Jeff Keating                        Bessie Elliot                                                      Raj Khatri (UK) /

                                   atlantic@yellowjerseypr.com (mailto:atlantic@yellowjerseypr.com)

 Charlie Bouverat
                                                                  Duncan St John, Christian Calabrese (Australia)

                                   Tel: +44 (0)20 3004 9512

 Tel: +44 (0)20 3470 0470

                                                                                                        Corporate Broking:

                                                                                                        James Asensio

                                                                                                        Tel: +44 (0) 20 7523 4500

 

Notes to Editors:

About Atlantic Lithium

www.atlanticlithium.com.au (http://www.atlanticlithium.com.au/)

Atlantic Lithium is an AIM, ASX, GSE and OTCQX-listed lithium company
advancing its flagship project, the Ewoyaa Lithium Project, a significant
lithium spodumene pegmatite discovery in Ghana, through to production to
become the country's first lithium-producing mine.

The Project was awarded a Mining Lease in October 2023, an Environmental
Protection Authority ("EPA") Permit in September 2024, and a Mine Operating
Permit in October 2024 and is being developed under an earn-in agreement with
Piedmont Lithium Inc.

Atlantic Lithium holds a portfolio of lithium projects within 509km(2) and
771km(2) of granted and under-application tenure across Ghana and Côte
d'Ivoire respectively, which, in addition to the Project, comprises
significantly under-explored, highly prospective licences.

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