REG - Atlantic Lithium Ltd - Ratification Process - Ewoyaa Mining Lease

Atlantic LithiumAnnouncement

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RNS Number : 4110M  Atlantic Lithium Limited  22 December 2025

22 December 2025

Ratification Process - Ewoyaa Mining Lease

Atlantic Lithium Limited (AIM: ALL, ASX: A11, GSE: ALLGH, "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 is pleased to confirm that a revised Mining Lease has been
submitted to the Parliament of Ghana and referred to the Select Committee, per
the necessary process for ratification.

The Mining Lease includes certain fiscal terms which were incorporated
following a period of consultation undertaken by the Minister of Lands and
Natural Resources with relevant stakeholders in Ghana in relation to Ghana's
current mining code and the application of royalties, which was supported by
the Company. The revised terms comprise the alignment of the Project's royalty
rate and Growth and Sustainability Levy to current legislated rates in Ghana.

Accordingly, the Company notes the submission by the Minister of Lands and
Natural Resources to Parliament of a new Legislative Instrument, Minerals and
Mining (Royalty) Regulations, 2025, which sets out the following proposed
sliding scale in relation to royalty rates for lithium projects in Ghana
according to various spodumene price ranges:

 Spodumene Price, US$/tonne   Royalty Applicable
 Up to US$1,500/tonne         5.0%
 Between US$1,501 - US$2,500  7.0%
 Between US$2,501 - US$3,000  10.0%
 Above US$3,000               12.0%

The Legislative Instrument will be considered in line with due parliamentary
process.

All other fiscal terms outlined in the Mining Lease granted in October 2023
remain unchanged (refer announcement of 20 October 2023).

Following the adjournment of Parliament for the festive period, the Company
understands that the Select Committee will undertake its review of the revised
Mining Lease in the New Year, before providing its recommendation to
Parliament for or against ratification.

The Company remains confident that ratification of the Mining Lease will be
forthcoming in accordance with due parliamentary process. Shareholders should
note, however, that there can be no certainty that the proposed terms of the
Legislative Instrument will not change or that Parliament will indeed ratify
the Mining Lease.

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

 

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

The Company published a Definitive Feasibility Study in respect of the Project
in July 2023. 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 Elevra Lithium Limited.

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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