REG - Atlantic Lithium Ltd - Ewoyaa Lithium Project Update

Atlantic LithiumAnnouncement

12/07/2024 08:30

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RNS Number : 2116W  Atlantic Lithium Limited  12 July 2024

12 July 2024

Ewoyaa Lithium Project Update

Atlantic Lithium Limited (AIM: ALL, ASX: A11, GSE: ALLGH, OTCQX: ALLIF,
"Atlantic Lithium" or the "Company"), the African-focused lithium exploration
and development company targeting to deliver Ghana's first lithium mine,
provides the following update regarding the latest developments relating to
the Ewoyaa Lithium Project ("Ewoyaa" or the "Project").

The Company is pleased to confirm that the application for the grant of the
Mining Lease in respect of the Project has been submitted to the Ghanaian
parliament. The necessary parliamentary process is now underway for parliament
to ratify the Mining Lease.

Additionally, following the Company's cooperation with the Minerals
Commission's investigation into the tragic incident that occurred at the
Project site on Tuesday, 9 July 2024, which was led by the Chief Inspector of
Mines, the site has been released back to Atlantic Lithium and operations have
been authorised to recommence. The Company is taking a steady approach to
resuming operations since the incident, ensuring alignment with the
recommendations made by the Minerals Commission. Our thoughts remain with the
family and friends of our teammate, and we continue to offer our full support
to all those affected.

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

 

 

For any further information, please contact:
Atlantic Lithium Limited

Neil Herbert (Executive Chairman)

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 Definitive Feasibility Study for the Project indicates the production of
3.6Mt of spodumene concentrate over a 12-year mine life, making it one of the
largest spodumene concentrate mines in the world.

The Project, which was awarded a Mining Lease in October 2023, is being
developed under an earn-in agreement with Piedmont Lithium Inc.

Atlantic Lithium holds a portfolio of lithium projects within 509km(2) and
774km(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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