Announcement • Feb 05
Pilbara Minerals Limited (ASX:PLS) completed the acquisition of Latin Resources Limited (ASX:LRS). Pilbara Minerals Limited (ASX:PLS) entered into a binding Scheme Implementation Agreement to acquire Latin Resources Limited (ASX:LRS) for approximately AUD 560 million on August 15, 2024. Latin Resources shareholders will receive 0.07 new Pilbara Minerals shares for each Latin Resources share held and will own ~6.4% of Pilbara Minerals’ shares upon implementation of the Scheme. Based on Pilbara Minerals’ closing price of AUD 2.85 per share on 14 August 2024, the transaction implies a value of AUD 0.20 per Latin Resources share (Implied Offer Price). The Latin Resources Board has unanimously recommended the Scheme in the absence of a Superior Proposal emerging and subject to an independent expert concluding that the Scheme is in the best interests of Latin Resources shareholders. Latin Resources’ largest shareholder José Luis Manzano (7.9%) has confirmed his intention to vote his Latin Resources shares in favour of the Scheme. Latin Resources’ Managing Director, Chris Gale, has agreed to join Pilbara Minerals as a consultant for a period of 12 months to provide leadership continuity with key stakeholders, including the Latin Resources in-country team, senior government officials and local community representatives to progress key activities at Salinas. In case of termination of transaction, Pilbara Minerals Limited will pay a termination fee of AUD 6 million and seller will pay a termination fee of AUD 6 million. The transaction is subject to approval by regulatory board, approval of offer by target shareholders and subject to court approval. The Scheme Meeting is expected to be held in mid-November 2024 and, if approved by Latin Resources shareholders and the Court, the Scheme is expected to be implemented in late November / early December. As per the announcement dated January 16, 2025 Latin Resources Limited shareholders have approved the transaction. On January 21, 2025 the Supreme Court of Western Australia has approved the transaction. Barrenjoey Capital Partners acted as financial advisor for Pilbara Minerals Limited. As of January 22, 2025, the scheme has become legally effective.
Corrs Chambers Westgarth acted as legal advisor for Pilbara Minerals Limited. Macquarie Capital Limited acted as financial advisor for Latin Resources Limited. King & Wood Mallesons, Australia Branch acted as legal advisor for Latin Resources Limited. Computershare Investor Services Pty Limited acted as Registrar to Pilbara Minerals Limited. KPMG Australia acted as accountant to Pilbara Minerals Limited. Ernst & Young Services Pty Limited and Bentleys Audit and Corporate (WA) Pty Ltd acted as accountant to Latin Resources Limited. BDO Corporate Finance (SA) Pty Ltd acted as fairness opinion provider to Latin Resources Limited.
Pilbara Minerals Limited (ASX:PLS) completed the acquisition of Latin Resources Limited (ASX:LRS) on February 4, 2025. Under the scheme, Latin Resources will issue between 0.0020 and 0.0250 New shares per Latin Resources Option. Announcement • Jan 31
Latin Resources Limited completed the Spin-Off of ESG Minerals Ltd. Latin Resources Limited agreed to Spin-Off ESG Minerals Ltd on November 22, 2024. Shareholders will receive 1 fully paid ordinary share in ESG Minerals for every 50 Latin Resources Shares held on the Demerger Record Date, which is January 22, 2025. the Demerger must be approved by Latin Resources Shareholders. The Demerger is also conditional on Latin Resources Shareholders approving the Share Scheme. The demerger is expected to be implemented on January 30, 2025,
Latin Resources Limited completed the Spin-Off of ESG Minerals Ltd. on January 30, 2025. New Risk • Oct 07
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 32% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$58m free cash flow). Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings are forecast to decline by an average of 32% per year for the foreseeable future. Revenue is less than US$1m (AU$87k revenue, or US$59k). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$30m net loss in 2 years). Shareholders have been diluted in the past year (6.4% increase in shares outstanding). New Risk • Sep 12
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$43m free cash flow). Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings are forecast to decline by an average of 1.7% per year for the foreseeable future. Revenue is less than US$1m (AU$91k revenue, or US$61k). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$17m net loss in 2 years). Shareholders have been diluted in the past year (6.6% increase in shares outstanding). Price Target Changed • Aug 17
Price target decreased by 73% to AU$0.21 Down from AU$0.78, the current price target is an average from 2 analysts. New target price is 11% above last closing price of AU$0.19. The company is forecast to post a net loss per share of AU$0.008 next year compared to a net loss per share of AU$0.0078 last year. New Risk • Aug 15
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 19% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$43m free cash flow). Share price has been highly volatile over the past 3 months (19% average weekly change). Revenue is less than US$1m (AU$91k revenue, or US$60k). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (AU$12m net loss in 3 years). Shareholders have been diluted in the past year (6.7% increase in shares outstanding). Announcement • Aug 15
Pilbara Minerals Limited (ASX:PLS) agreed to acquire Latin Resources Limited (ASX:LRS). Pilbara Minerals Limited (ASX:PLS) agreed to acquire Latin Resources Limited (ASX:LRS) on August 15, 2024. In case of termination of transaction, Pilbara Minerals Limited will pay a termination fee of AUD 6 million and seller will pay a termination fee of AUD 6 million.
The transaction is subject to approval by regulatory board / committee, approval of offer by target shareholders and subject to court approval.
Barrenjoey Capital Partners acted as financial advisor for Pilbara Minerals Limited. Corrs Chambers Westgarth acted as legal advisor for Pilbara Minerals Limited. Macquarie Capital Limited acted as financial advisor for Latin Resources Limited. King & Wood Mallesons, Australia Branch acted as legal advisor for Latin Resources Limited. Price Target Changed • Jul 09
Price target increased by 8.5% to AU$0.80 Up from AU$0.74, the current price target is an average from 3 analysts. New target price is 371% above last closing price of AU$0.17. Stock is down 53% over the past year. The company is forecast to post a net loss per share of AU$0.008 next year compared to a net loss per share of AU$0.0078 last year. Board Change • May 06
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Brent Jones was the last independent director to join the board, commencing their role in 2015. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • May 04
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$43m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$43m free cash flow). Revenue is less than US$1m (AU$91k revenue, or US$60k). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (AU$11m net loss in 3 years). Shareholders have been diluted in the past year (11% increase in shares outstanding). Significant insider selling over the past 3 months (AU$371k sold). Breakeven Date Change • Apr 28
No longer forecast to breakeven The 2 analysts covering Latin Resources no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of AU$94.0m in 2026. New consensus forecast suggests the company will make a loss of AU$10.3m in 2026. Announcement • Apr 11
Latin Resources Limited, Annual General Meeting, May 30, 2024 Latin Resources Limited, Annual General Meeting, May 30, 2024, at 11:00 W. Australia Standard Time. Location: 3/32 Harrogate Street West Leederville 6007 Australia Recent Insider Transactions • Mar 06
Independent Non-Executive Chairman recently sold AU$371k worth of stock On the 28th of February, David Vilensky sold around 2m shares on-market at roughly AU$0.21 per share. This transaction amounted to 7.2% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was David's only on-market trade for the last 12 months. Announcement • Feb 16
Latin Resources Appoints Peter Oliver as Executive Director and Chairman of Development Committee Latin Resources has appointed Peter Oliver as Executive Director and Chairman of the Development Committee, with immediate effect to proactively accelerate the Salina's Lithium Project into production. Mr. Oliver, who has been serving as a Non-Executive Director to the Board since October 2022, brings a wealth of experience and expertise to Latin Resources. With over two decades of experience in the lithium industry, Mr. Oliver's leadership roles have encompassed global mergers and acquisitions, financing, and managing mining operations. Most notably, he served as Chief Executive Officer /Managing Director of Talison Lithium, the owner and operator of the lithium mine, Greenbushes, in Western Australia. Mr. Oliver's background in Chemistry and extensive experience in the Western Australian Mining industry have been pivotal to his success. During his tenure at Talison, he held various key positions, including General Manager of Wodgina and Greenbushes, Chief Operating Officer, and Chief Executive Officer/Managing Director. Under his leadership, Talison Lithium experienced significant growth, including a successful IPO process that led to its listing on the Toronto Stock Exchange, substantial expansions, and eventual acquisition by Tianqi Lithium. As an advisor to Tianqi Lithium from 2013 until March 2022, Mr. Oliver played a crucial role in overseeing substantial expansions in Greenbushes lithium concentrate production capacity, and the establishment of Tianqi Lithium's Kwinana Lithium Hydroxide plant. Until June 2021, Mr. Oliver remained a Non-Executive Director of Talison Lithium, a joint venture between Tianqi Lithium and Albemarle Corp. Mr. Oliver's extensive skill set in the lithium sector, coupled with his experience in leading corporate teams, managing public companies, and acting in advisory capacities for corporate structures, global mergers and acquisitions, and financing, will significantly strengthen Latin's position to become a global Tier one lithium producer. His appointment reflects Latin Resources' commitment to driving the next phase of growth, focusing on advancing the Salinas Lithium Project in Brazil. New Risk • Jan 23
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Revenue is less than US$1m (AU$196k revenue, or US$129k). Minor Risk Shareholders have been diluted in the past year (27% increase in shares outstanding). Breakeven Date Change • Dec 31
Forecast to breakeven in 2026 The 3 analysts covering Latin Resources expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of AU$109.9m in 2026. Average annual earnings growth of 72% is required to achieve expected profit on schedule. New Risk • Dec 12
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 9.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 9.6% per year for the foreseeable future. Revenue is less than US$1m (AU$196k revenue, or US$128k). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (AU$13m net loss in 3 years). Share price has been volatile over the past 3 months (16% average weekly change). Shareholders have been diluted in the past year (36% increase in shares outstanding). Announcement • Oct 14
Maverick Minerals Pty Ltd entered into a binding heads of agreement to acquire Lachlan Fold Belt Project from Latin Resources Limited (ASX:LRS) for AUD 1.4 million. Maverick Minerals Pty Ltd entered into a binding heads of agreement to acquire Lachlan Fold Belt Project from Latin Resources Limited (ASX:LRS) for AUD 1.4 million on October 13, 2023. Under the terms of agreement, Maverick will issue 6,000,000 fully paid ordinary shares at a deemed issue price of AUD 0.20 per share and 5,000,000 options to acquire Shares of Maverick exercisable at AUD 0.30 on or before the date which is 5 years from the date of issue of the Options. Maverick will issue a further 1,000,000 Shares to the Company at a deemed issue price of AUD 0.20 per Share to extinguish an inter-company loan payable by project to Latin. The transaction is subject to completion of financial, legal and technical due diligence by Maverick and Maverick completing a capital raising of at least AUD 4,000,000 and receiving conditional approval for admission to the official list of the ASX. Price Target Changed • Oct 02
Price target increased by 37% to AU$0.69 Up from AU$0.51, the current price target is an average from 4 analysts. New target price is 143% above last closing price of AU$0.28. Stock is up 210% over the past year. The company is forecast to post a net loss per share of AU$0.0062 next year compared to a net loss per share of AU$0.004 last year. New Risk • Sep 28
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 10% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 10% per year for the foreseeable future. Revenue is less than US$1m (AU$196k revenue, or US$125k). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (AU$13m net loss in 3 years). Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (34% increase in shares outstanding). Significant insider selling over the past 3 months (AU$150k sold). Recent Insider Transactions • Sep 01
Independent Non-Executive Director recently sold AU$150k worth of stock On the 24th of August, Brent Jones sold around 423k shares on-market at roughly AU$0.35 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. New Risk • Aug 10
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 16% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (16% average weekly change). Revenue is less than US$1m (AU$186k revenue, or US$122k). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (AU$19m net loss in 3 years). Shareholders have been diluted in the past year (35% increase in shares outstanding). Price Target Changed • Jun 14
Price target increased by 11% to AU$0.26 Up from AU$0.23, the current price target is an average from 2 analysts. New target price is 27% above last closing price of AU$0.20. Stock is up 236% over the past year. The company is forecast to post a net loss per share of AU$0.009 next year compared to a net loss per share of AU$0.004 last year. Breakeven Date Change • Apr 08
Forecast to breakeven in 2025 The 3 analysts covering Latin Resources expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of AU$23.0m in 2025. Average annual earnings growth of 67% is required to achieve expected profit on schedule. Announcement • Feb 18
Latin Resources Limited Provides the Latest Assay Results and an Update on the Progress of the 2023 Drilling Campaign At the Company's 100% Owned Colina Lithium Deposit Latin Resources Limited to provide the latest assay results and an update on the progress of the 2023 drilling campaign at the Company's 100% owned Colina Lithium Deposit ("Colina") located in the state of Minas Gerais, Brazil (Appendix 1). Results from drilling completed in late 2022 have been returned from the laboratory and continue to show good correlation with the JORC 2012 Indicated and Inferred Mineral Resource Estimate ("MRE"). Results include holes from both within the existing Colina Deposit MRE model, and the Colina West area which is currently outside of the MRE block model. Recent intersections include: SADD061: 20.70m @ 1.51% Li2O from 159.00m; SADD062: 10.00m @ 1.13% Li2O from 149.51m, SADD063: 4.03m @ 1.60% Li2O from 125.12m and: 6.79m @ 1.52% Li2O from 267.37m, SADD070: 5.03m @ 1.64% Li2O from 192.97m and 5.52m @ 1.50% Li2O from 292.03m and, 16.43m @ 1.69% Li2O from 323.57m and, 18.89m @ 1.56% Li2O from 356.91m. The Company reported that the 2023 drilling campaign is gathering momentum with seven diamond drilling rigs currently onsite drilling, with the final rig due in the coming weeks. Drilling is on track with over 3,000m of the planned 65,000m drilling program already completed. Currently six of the seven drilling rigs are focused on the Colina West areas, where the logging of drill core continues to show the presence of thick spodumene rich pegmatites including intersections of SADD072: 27.67m from 333.82m and SADD077: 33.00m from 319.65m. These results coupled with the latest assay results from the 2022 drilling campaign have enabled the development of a preliminary leapfrog interpretation of the Colina West mineralisation envelope. This has revealed a shallow easterly dipping zone extending for over 500m along strike and 300m up dip. The development of this model greatly assists in the planning and targeting of additional drilling. In addition to the aggressive drilling campaign currently underway on site, Latin is actively progressing exploration activities across its wider tenement package at Salinas. This work includes: Infill geochemical soil sampling at the Salinas South Prospect to better define initial soil broad anomalism encountered in the initial stream sediment and soil sampling; Mapping and reconnaissance work to the Southwest of Colina/Colina West along an interpreted prospective lithium corridor and other tenement include Lajinha and Monte Alto; Detailed airborne geophysical magnetic surveys over the Colina/Colina West areas. The Company has also engaged with several suitable drilling contractors for the supply of up to two Reverse Circulation ("RC") drilling rigs to add to the existing fleet to bring the total to ten rigs operating in the area. The RC drilling rigs will be tasked with completing rapid stepout drill fences to define the prospective lithium corridor further to the west and southwest of the known Colina/Colina West mineralisation. RC drilling may also be used as a first pass exploration tool to test mapped pegmatites, or geochemical anomalies where there is no physical outcrop, as is the case with some parts of the Salinas South tenements. Announcement • Feb 08
Latin Resources Limited Provide an Update on the Expansion of the Salinas Lithium Project in Brazil Latin Resources Limited provide an update on the expansion of the Salinas Lithium Project ("Salinas") in Brazil, which hosts the Company's 100% owned Colina Lithium Deposit. The Company significantly expanded its mineral exploration title holdings in the highly prospective Bananal Valley District in Minas Gerais, Brazil, through lodging 17 new applications with the Brazilian National Mining Agency (ANM), over an area of more than 29,940 hectares of what the Company believes to be favourable basement lithologies. The Company now controls approximately 38,100 hectares (381km2), which represents a significant land position in the region. The new tenements are located to the north of the Company's existing land holdings where theCompany has defined a maiden Mineral Resource Estimate ("MRE"), for the Colina Deposit 1 of 13.3 Mt @ 1.2% Li2O, along with a JORC Exploration Target Range1 ("ETR") for Colina of 13.5 22 Mt with a grade range of 1.2 1.5% Li2O, in early December 2022. Utilising the available government and other proprietary data sets, including regional magnetic data, mineral mapping and solid in-house geological interpretations, the Company has undertaken a regional desktop prospectivity review of the wider Bananal Valley District surrounding the Colina Deposit. The resulting new tenement applications cover areas that have been interpreted by the Company to be favourable for the presence of lithium bearing pegmatites. The majority of these areas are considered by the Company to be `green-fields' exploration areas. The Company will commence preliminary reconnaissance work including the ground truthing and geological mapping and regional scale geochemical sampling. Other works including airborne geophysical and remote sensing survey may also be undertaken over specific areas highlighted as part of the initial reconnaissance work by the Company's field explorationteams. Announcement • Jan 24
Latin Resources Limited Announces Exceptional Assay Results from Colina West Potential Latin Resources Limited provided an update on drilling results from the Colina and Colina West areas from drilling completed in late 2022 at the Company's 100% owned Salinas Lithium Project (Salinas). 2022 Drilling Program - Assay results: The Company announced its maiden Mineral Resource Estimate ("MRE"), for the Colina Deposit of 13.3Mt @ 1.2% Li2O, along with a JORC Exploration Target Range ("ETR") for Colina of 13.5 22 Mt with a grade range of 1.2 1.5% Li2O, in early December 2022; neither of which include the potential additional resources that may be defined in the Colina West area (Figure 1). The MRE and ETR are based on assay results from a total of 47 diamond drill holes for some 10,528m of drilling, with an additional 25 holes completed at Colina and Colina West at the end of the 2022 drilling season, which were not included in the MRE and ETR calculations. Assay results for a total of thirteen of these drill holes (SADD048 SADD060), completed toward the end of the 2022 drilling campaign have been returned from the laboratory. A further ten (SADD061 SADD071) remain outstanding. Results from this latest batch of results include holes from within the main Colina Deposit MRE, as well as more holes drilled in the Colina West area. The holes collared within the footprint of the Colina MRE all show good correlation with the block model, and in some cases have returned higher grades than predicted by the MRE, notably holes SADD057 and SADD059. Significant intersections within the MRE footprint include: SADD053: 14.00m @ 1.35% Li2O from 289.58m; SADD057: 20.17m @ 1.66% Li2O from 136.99m; SADD059: 14.70m @ 1.27% Li2O from 109.90m; and SADD060: 15.96m @ 1.56% Li2O from 350.09m. Results from the holes drilled in the Colina West area have returned exceptional results that the Company believes significantly upgrades the prospectivity of the Colina West area. Drill hole SADD055, collared approximately 200m along strike to the south of the Colina West discovery hole SADD033, is a standout, having returned multiple highgrade intersections greater than 10 meters in thickness. In total, SADD055 intersected over 67 cumulative meters of highly mineralised pegmatites which are interpreted by the Company to continue up dip to the west. The ongoing 2023 drilling campaign will test the near surface and strike extensions of these pegmatites. These intersections remain open in all directions. Significant intersections include: SADD055: 13.73m @ 1.38% Li2O from 200.19m; and: 16.08m @ 1.07% Li2O from 306.69m; and: 10.85m @ 1.96% Li2O from 322.15m and: 11.16m @ 1.61% Li2O from 360.17m and: 16.00m @ 1.61% Li2O from 393.60m. Drill hole SADD060, collared 100m to the east of hole SADD033, is equally significant, as it confirms the continuity of the pegmatites in SADD033 at depth returning multiple significant intersections, including: SADD060: 2.29m @ 1.71% Li2O from 84.75m and: 1.88m @ 1.85% Li2O from 182.70m and: 1.96m @ 0.83% Li2O from 203.69m and: 2.84m @ 0.92% Li2O from 228.00m and: 2.89m @ 1.33% Li2O from 247.40m and: 1.55m @ 0.56% Li2O from 252.00m and: 15.95m @ 1.56% Li2O from 350.09m and: 1.41m @ 1.64% Li2O from 370.62m and: 2.00m @ 1.04% Li2O from 384.42m. All mineralisation at Colina and Colina West remains open along strike to the north and south as well as at depth. The current 65,000m diamond drilling campaign, which commenced in early January with the arrival of six diamond drilling rigs, is designed to test the area updip from the Colina West pegmatites intersected in holes SADD055 and SADD053, as well as along strike to the north and south. The proposed drill spacing of 100m by 100m is expected to provide sufficient data coverage for the estimation of an inferred MRE for Colina west, in line with the Company's plan to fast track rapid resource growth at the Colina and Colina West Deposits and underpin a rapid move towards potential future development. Recent Insider Transactions Derivative • Jan 18
Independent Non-Executive Chairman exercised options and sold AU$118k worth of stock On the 13th of January, David Vilensky exercised options to acquire 1m shares at no cost and sold these for an average price of AU$0.12 per share. This trade did not impact their existing holding. Since March 2022, David's direct individual holding has increased from 16.55m shares to 18.64m. Company insiders have collectively bought AU$1.1m more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Jan 17
Latin Resources Limited Commences the 2023 Drilling Program At Salinas Lithium Project Latin Resources Limited announced that field teams and drilling rigs have arrived on site for the scheduled commencement of the 2023 drilling program at the Company's 100% owned Salinas Lithium Project. A total of six, small environmental footprint, man portable/modular diamond drilling rigs capable of drilling to depth of circa 400-450m below surface have arrived on site and have commenced drilling. The Company has a 65,000m diamond drilling program planned for 2023, and is committed to minimising the environmental impact of this work by using these innovative and low-impact rigs. A further two, larger track mounted, drilling rigs capable of drilling to far greater depths, and producing larger diameter PQ drill core are scheduled to arrive on site in February, bringing the total drilling fleet to eights rigs for the season. 2023 Drilling Program The planned 65,000m program focuses on the rapid expansion of the Company's maiden Indicated and Inferred JORC Mineral Resource Estimate of 13.3Mt @ 1.2% Li2O 1 at the Colina Deposit; as well as providing sufficient drill coverage over the Colina West Prospect to enable the expansion of the existing MRE into this emerging high priority area. Previous drilling at Colina West, including SADD033, has shown the presence of multiple spodumene bearing pegmatites including some thick high-grade intersections, which currently fall outside the limits of the MRE. Additional drilling completed in late 2022 has intersected these same pegmatites in multiple drillholes, confirming the continuity both up and down dip from SADD033 (assay results pending). Infill and extension drilling at the Colina Deposit itself will focus on the down dip extensions of the high-grade mineralisation in the north, where the current MRE block model shows thick high-grade mineralisation open at depth. Ongoing other works at the Salinas Project Other work currently underway on site includes: The expansion of the Company's core processing and storage facility on site at Salinas, to facilitate the planned significant increase in drilling activity in 2023. This work is expected to be completed in early February 2023. Targeted large diameter PQ diamond core drilling to collect sufficient representative pegmatite samples for the planned large scale DMS and flotation pilot plant testwork scheduled to commence in the 2023 March quarter. Detailed drone magnetic and other geophysical surveys to assist with targeting of step-out regional exploration drilling along strike from the Colina/Colina West areas. This survey is scheduled for late January 2023. Breakeven Date Change • Dec 31
Forecast to breakeven in 2025 The 3 analysts covering Latin Resources expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of AU$23.0m in 2025. Average annual earnings growth of 70% is required to achieve expected profit on schedule. Recent Insider Transactions Derivative • Dec 27
Independent Non-Executive Director exercised options to buy AU$1.4m worth of stock. On the 23rd of December, Brent Jones exercised 15.83m options at around AU$0.012, then sold 1.80m of them at AU$0.10 each and kept the remainder. Since December 2021, Brent's direct individual holding has increased from 23.98m shares to 32.13m. Company insiders have collectively bought AU$1.3m more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Dec 10
Latin Resources Limited Provides Update on Resource Definition Drilling and Other Studies Currently Ongoing At High-Grade Colina Lithium Prospect Latin Resources Limited provided the following update on resource definition drilling and other studies currently ongoing at the Company's 100% owned high-grade Colina Lithium Prospect. In October, the Company commissioned Toronto based independent resource consultants SGS Geological Services ("SGS"), to undertake the estimation of a JORC Mineral Resource Estimate ("MRE"), and a wider Exploration Target Range ("ETR") for the Company's Colina Lithium Deposit. SGS, working closely with the Company's geological team have confirmed the presence of a series of moderately east dipping pegmatite bodies, extending from near surface to a depth of over 350m. These pegmatites remain open along strike to the north and south, and at depth. Based on assay results from a total of 47 diamond drill holes for some 10,528 m of drilling, SGS has independently estimated the maiden Mineral Resource for the Colina Deposit in only 10 months since the commencement of drilling in early 2022. Of the 57 diamond drill holes completed at the cut-off date, 47 drill holes have assays results used for the MRE to produce a JORC Indicated and Inferred resource estimate of 13.3mt @1.2% Li2O (2.08Mt Indicated and 11.17Mt Inferred). SGS has also estimated a JORC ETR of 13.5 22 Mt with a grade range of 1.2 1.5% Li2O for the Colina Deposit based on data from all the available 57 diamond drill holes. The current interpretation indicates that the modelled pegmatites potentially increase in both thickness and grade with depth, additional drilling is required to confirm these observations. The potential quantity and grade of the lithium mineralisation at the wider Colina project is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resources and it is uncertain if further exploration will confirm the target ranges. Potential Mineral Resource Growth Areas: Colina Deposit: 13-22 Mt based on the SGS ETR range. Colina South: extensions of the Colina Deposit to the south. Colina West Pegmatites: based on initial interpretations of pegmatite intersected in holes SADD033/060/063/065. The potential quantity and grade of the lithium mineralisation at the wider Colina project is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resources and it is uncertain if further exploration will confirm the target ranges. SGS has also considered the broader Colina Deposit area and independently estimated the potential Exploration Target Range . This target range is based on multiple drill hole intersections, extrapolated along strike ~ 200 meters distance, with the base of the target as the lower mineralised elevation of 400 meters. Colina exploration target range of 13.5 mt to 22 mt @ 1.2% - 1.55 % Li2O is based on recent drilling from Latin Resources and newly received assays reported on 9 November 2022. Surface occurrences, soil geochemistry and historical geophysical report were also used for the establishment of a clear exploration target in the Colina Prospect. From the data, a block of 1400 meters by 500 meters by 500 meters has been outlined and confirmed by most of the drill holes. The estimate was based on the results of 57 holes drill holes completed by Latin Resources in 2022 (as up to November 9, 2022), for a total of 14,195 meters with a maximum depth of 463 meters. Historical surface sampling of the mineralised pegmatite was also used to define the known mineralised strike length. SGS reviewed the data and geological interpretation for each mineralised pegmatite, including validation of the drillhole database, QAQC results, assays results and overall structural model. The main pegmatites zone was considered to have sufficient data to prepare an exploration target estimate using the mapped strike length as a base case for determining overall strike length. The strike length was adjusted using the positive pegmatite intersections (more than 0.3% Li2O) to estimate the mineralised strike length of the Colina zone. The main pegmatite was extrapolated to 500 meters at a dip of 45. Based on the continuity of similar deposits in the region, a "base case" estimation of tonnes and grades was applied to the zone. It is known that the Colina Prospect is composed of multiple mineralised pegmatites surrounding the main zone and are also part of the exploration targets estimation. The Company's board has recently approved an aggressive exploration budget for the wider Salinas Lithium Project. This includes the addition of four diamond drilling rigs, taking the total rigs on site to eight, operating on a double shift basis, with an estimated 65,000m planned to be drilling in the 2023. Drilling in the new year will target: Infilling drilling on the main Colina Deposit pegmatites. The newly discovered "Colina West" pegmatite swarm.The southwestern extension of Colina's high-grade pegmatite lenses; and The regional Salinas South Project area. The Company will continue to review and update the Colina resource model as more drilling information becomes available. The next major update and re-estimation for the Colina and Colina West areas is expected to be undertaken in second quarter of 2023. Announcement • Dec 06
Latin Resources Limited Announces Ongoing Testwork Continues to Demonstrate Exceptional Metallurgy of Salinas Lithium Project with over 80% Recovery of Li2O Latin Resources Limited provided an update on an expanded program of metallurgical test work completed on drill core from the Company's 100% owned high-grade Salinas Lithium Project. Colina Prospect - Metallurgical Test Work Results Latin commissioned SGS GEOSOL laboratories, Belo Horizonte Brazil to undertake a program of HLS testwork on 10 samples representing the total strike length of the current resource drilling program. A total of 367kg of representative sample was collected and each of the samples included interstitial waste between ore zones to simulate expected mining dilution. One of the main objectives of this program was to investigate potential variability in metallurgical performance across the deposit, and at varying depths. Half of the samples were targeted in the top 50-100m of the ore body with the other half of the samples taken from the bottom 100-150 of the deposit. Results have been independently reviewed and interpreted by Met Assist Pty Ltd, whose key personnel have significant experience in lithium processing, metallurgy, and process plant design. HIGHLIGHTS: Crush size doubled to 12.5mm and recoveries and grade remain high demonstrating very coarse liberation of spodumene: Average recovery of 80.5% of Li2O; and production of extremely high-grade Li2O concentrate (up to 6.6%) from simple Heavy Liquid Separation (HLS); Exceptionally clean concentrates in -12.5mm+6.3mm size range. Concentrates well above 7.0% and as high as 7.96% Li2O achieved; Results show excellent consistency across the width and depth of the known ore body; Very coarse liberation results in minimal fines generation (~12%) which indicates a final plant design may have a low reliance on floatation as a necessary step to achieving high Li2O recovery. In addition it indicates a reduced size of any floatation plant if this option is pursued; Consistently low Fe grades in head samples and HLS concentrates is promising for the marketability of Salinas concentrates; The Company intends to proceed with bulk pilot plant testwork based on the very encouraging results obtained in this program. Announcement • Nov 30
Latin Resources Limited Announces the Completion of It's Mineral Resource Update for the 100% Owned Cloud Nine Halloysitekaolin Deposit in Western Australia Latin Resources Limited announced the completion of the company's Mineral Resource update for the 100% owned Cloud Nine HalloysiteKaolin Deposit in Western Australia. The Mineral Resource has been estimated and classified by a Competent Person and is reported here in accordance with the JORC Code (2012). Project Summary: The Cloud Nine deposit is located on the company's 100% owned exploration licence E77/2622, which is situated ~350 km to the east of Perth and to the southeast of the town of Merredin. The company controls a commanding regional tenement package (Noombenberry Project), covering over 560 km2 of what the company believes is the most prospective ground in the region to identify repetitions of the highgrade Cloud Nine deposit. Mineral Resource Estimate Update Summary: The updated Mineral Resource for the Cloud Nine Deposit includes an in situ Indicated Mineral Resource of 70 Mt kaolinised granite at an average Brightness ("ISOB") grade of 81. In addition to the Indicated Mineral Resource is an in situ Inferred Mineral Resource of 210 Mt kaolinised granite at an average ISOB grade of 79, for a total global in situ Indicated and Inferred Mineral Resource of 280 Mt, an increase of ~33% from the May 2021 global estimate of 207 Mt. The Inferred Mineral Resource includes an 85 Mt highgrade (>3%) portion with an average halloysite grade of 4%. The Mineral Resource upgrade contains a total of 26.7 Mt of bright white kaolinised granite, classified as Indicated, with an ISOB grade of 81, reporting to the <45 µm size fraction. In addition, the global Mineral Resource contains 90 Mt kaolinised granite classified as Inferred, reporting to the <45 µm size fraction, with an average ISOB of 79. This domain also includes 35 Mt halloysite, averaging 10% halloysite, estimated using a 3% halloysite cutoff and reported to the <45 µm size fraction. The deposit contains low Fe contamination averaging 0.8% Fe2O3. All Mineral Resources are reported to the <45 µm fraction at a cutoff grade of 75 ISOB in accordance with Clause 49 of the JORC Code (2012). Next Steps: The company will now enter into negotiation with potential offtake customers, which will include options to supply shortterm products, as well as supplying valueadded processed kaolin and halloysite products in the longer term. Excavation of the recent test pit has provided the Company with valuable information to further refine preliminary assumptions, including mining and stockpile designs, mining method and equipment selection and preliminary geotechnical assumptions. Material samples will also assist with further testing and analysis to continue improving the understanding of the deposit including the overlying material. A preliminary desktop environmental study has also been undertaken on the Cloud Nine Project site. Outcomes of this study will be used to inform the scope of work required to support the pathway to apply for the relevant environmental approvals in support of the project. This information is being factored into an updated forward work plan to support the development of the Cloud Nine Halloysite Kaolin Deposit. Announcement • Nov 24
Latin Resources Limited Announces Catamarca Exploration Update & Drilling at MT 03 Project Peru Latin Resources Limited provided the following update on recent reconnaissance exploration activities at the Company's high-grade Catamarca Lithium Project ("Catamarca") in Argentina and MT 03 project in Peru. An extended campaign of field work will commence with the objective of defining new drill targets, following the recent reconnaissance field visit to the Catamarca Lithium Project by the Company's Exploration Manager and in-country geology team. Field work will include detailed and systematic geological mapping and follow-up geochemical surface sampling to better understand the nature and scale of the high-grade lithium pegmatite system encountered in previous drilling completed by the Company in 2017. Results from this drilling campaign returned shallow, high-grade Li2O results2 across multiple prospect areas including: LCRC004: 3.0m @ 2.98% Li2O from 90m; LCRC002: 4.0m @ 2.3% Li2O from 30m; LCRC001: 6.0m @ 1.62% Li2O from 18m; CER004: 12.0m @ 1.38% Li2O from 29m; PDMRC002: 7.0m @ 2.17% Li20 from 39m. The planned mapping and sampling campaign will aim to finalise drill targets for the next drilling campaign. The campaign will focus on the area immediately along strike to the north and south of the known high grade Li pegmatites to identify extension to the known mineralisation; as well as to the east and west to identify the presence of new parallel systems. The Company recently met with the Catamarca Mines department to discuss intentions of Latin and its joint venture partner, Integra Capital, for the Catamarca lithium project. The meeting was very well received and productive, as a result the Company will embark on a campaign of community engagement with information relating to the recommencement of planned exploration activities. The Company will also establish a network of liaison offices within the local communities to assist in the dissemination of the exploration information, and act as a conduit for feedback for the variouscommunity stakeholders. Announcement • Nov 03
Latin Resources Limited Reports Results from the Recent Rare Earth Element at its 100% Owned Cloud Nine Halloysite-Kaolin Deposit in Western Australia Latin Resources Limited reported the results from the recent rare earth element (REE) analysis at its 100% owned Cloud Nine Halloysite-Kaolin Deposit ("Cloud Nine") in Western Australia. The results have confirmed REE mineralisation with anomalous concentrations in 38% of the samples. Analysis was conducted on a small random selection (one out of every 20) of existing <45 µm fraction samples collected from the recent infill drill programme at Cloud Nine. Results from 30 of 78 samples submitted for analysis have returned anomalous total rare earth oxide (TREO) concentrations of >1000ppm; five have TREO concentrations >3500 ppm, with a maximum TREO value of 3617 ppm. Importantly, a large proportion of the TREO encountered in analysis are the in-demand magnetic rare earth oxides (MREO), which are a critical component of high-performance magnets used for climateeconomy products such as electric vehicles and wind turbines. The key magnetic rare earth oxides are neodymium (Nd) and praseodymium (Pr) which form the majority of the MREO mix in the samples. The Company believes these results are encouraging and warrant further analyses to identify the extent of the REE mineralisation encountered at Cloud Nine. Latin has engaged RSC, an experienced geological consulting service company, to provide an independent review of the REE data, incorporated in this update. Kaolinite and halloysite are the primary hosts of REEs in regolith-hosted REE deposits. During weathering of granite and breakdown of feldspar to halloysite and kaolinite, REEs from the granite are retained in the regolith profile and can be adsorbed to the surface of the two clay minerals. This process leads to REE enrichment from primary granite to its weathering product. Clay-hosted REE deposits are targeted for exploration because they have low Th and U concentrations, and REEs can often be extracted via weak acids or ionic solutions. Therefore, REE concentrations in commercially extracted clay-hosted deposits can be low - typically in the range of 5002000 ppmTREO (Borst et al. 20201). The lower grade is largely offset by easier mining and lower processing costs. These deposits are generally mined by open-pit methods and little beneficiation is required. The results of these wide-spaced samples show the potential for REE at Cloud Nine; additional sampleswill now be analysed to define the extent of REE mineralisation. Leach tests (e.g. weak aqua regia, ammonium sulphate) will also be performed to determine whether the REE mineralisation can be classified as ionic-adsorption-type (weakly adsorbed to the surface of kaolinite and halloysite) or whether REEs are related to other mineral species in the regolith profile. Since the geology and geometry of the kaolinite-halloysite domains and the weathering profile at Cloud Nine are well established, the resource estimate model can be rapidly updated with REE concentrations once further analyses are received. Announcement • Oct 20
Latin Resources Limited Announces Final Assay Results from Colina Resource Drilling in Brazil Latin Resources Limited provided an update on the program of resource definition drilling at the Company's 100% owned high-grade Colina Lithium Prospect ("Colina") in Brazil. Colina Prospect - Resource Definition Drilling: Resource definition diamond drilling and assaying is now complete. With the final results being incorporated into the resource model, a December 2022 release of a maiden MRE for Colina is on schedule. The final MRE drilling results are consistent with previously announced grades and thicknesses of the spodumene bearing pegmatites at Colina providing added confidence in the robust nature of the upcoming Maiden MRE. Significant intersections include: SADD038: 10.91m @ 1.52 %Li2O (92.31 - 103.22m) Incl. 5.00m @ 2.01 %Li2O (93.00 - 98.00m); SADD039: 8.19m @ 1.61 %Li2O (129.76 - 137.95m) Incl. 4.00m @ 2.21 %Li2O (133.00 - 137.00m); SADD039: 25.00m @ 1.47 %Li2O (245.00 - 270.00m) Incl. 10.00m @ 1.78 %Li2O (255.00 - 265.00m); SADD040: 7.41m @ 1.61 %Li2O (148.21 - 155.62m) Incl. 2.62m @ 2.37 %Li2O (153.00 - 155.62m); SADD042: 8.70m @ 2.16 %Li2O (302.30 - 311.00m); Incl. 5.70m @ 2.66 %Li2O (302.30 - 308.00m); SADD047: 10.23m @ 1.59 %Li2O (68.43 - 78.66m); and SADD047: 5.80m @ 1.82 %Li2O (69.20 - 75.00m). Colina Prospect Metallurgical Test Work: As previously announced, the Company has commenced a series of metallurgical test work programs with the initial first pass sighter test work showing a high recovery of 78.72% of the Li2O into a concentrate grading a very high 6.57% Li2O. Further sighter test work is underway, with additional samples currently being dispatched to the laboratory. These additional sighter tests will further explore the optimal crush size, and additional heavy liquid separation (HLS) cut points, and fine fraction flotation in order to optimise the larger test work flowsheet for the planned detailed Preliminary Economic Assessment (PEA). Announcement • Oct 06
Latin Resources Limited Announces Discovery of A New Lithium Mineralised Zone, Some 500M West of the Colina Prospect Latin Resources Limited announced the discovery of a new lithium mineralised zone, some 500m west of the Colina prospect, and also provides an update on the program of resource definition drilling and other studies currently ongoing at the Company's 100% owned high-grade Colina Lithium Prospect. Colina West Prospect - Discovery Hole; Assay results from diamond drill hole SADD033 have now been returned, confirming the intersectionof a new swarm of spodumene bearing pegmatites. SADD033 is collared approximately 500m to the west of the main Colina Pegmatites and has intersected a previously untestedzone of mineralisation. Logging highlighted 15 separate pegmatites, many of which have returned significant lithium grades including 2: SADD033: 1.78m @ 1.33% Li2O (120.53 - 122.31m); 1.67m @ 1.36% Li2O (275.38 - 277.05m) 18.71m @ 1.32% Li2O (321.15 - 339.86m); incl: 4.00m @ 1.94% Li2O (322.00 - 326.00m); and: 4.00m @ 1.58% Li2O (334.00 - 338.00m). With drilling required for the current maiden inferred JORC Mineral Resource Estimate ("MRE") now complete, the Company can begin to focus some drilling resources on new priority areas like Colina West, and the southern extensions of the main Colina Prospect. Colina Prospect - Resource Definition Drilling; Resource definition diamond drilling is on track for the delivery of the maiden MRE for Colina in December this year. All holes for the inferred JORC MRE are now complete, including detailed geological logging and sampling. Sample process and assay turnaround from the laboratory in Brazil is also well on track to enable the Company to meet the December delivery date. Results continue to confirm the continuity of grade and thickness of the high-grade Colina pegmatites at depth. Latest results include an intersection in hole SADD031 which has returned the highest-grade intersected to date on 4.17m @ 5.79% Li2O. Significant intersections include 3: SADD030: 12.00m @ 1.82% Li2O from 149.00m incl: 8.00m @ 2.31% Li2O from 149.00m, 20.19m @ 1.45% Li2O from 209.00m, incl: 10.00m @ 1.88% Li2O from 213.00m, SADD031: 7.00m @ 1.13% Li2O from 201.00m incl: 2.00m @ 2.20% Li2O from 201.00m; 6.15m @ 1.56% Li2O from 286.60m; incl: 3.15m @ 2.12% Li2O from 289.30m; 8.45m @ 3.57% Li2O from 306.00m; incl: 4.17m @ 5.79% Li2O from 309.10m. Announcement • Sep 07
Latin Resources Limited Updates on Resource Definition Drilling and Other Studies Currently Ongoing At Highgrade Colina Lithium Prospect Latin Resources Limited provided the following update on resource definition drilling and other studies currently ongoing at the Company's 100% owned highgrade Colina Lithium Prospect.Diamond drilling is on track for the delivery of the maiden Mineral Resource Estimate for Colina in December this year. Latest assay results from diamond drilling at the Company's 100% owned Colina Prospect, part of the broader Salinas Lithium Project in Brazil, continue to confirm the continuity of grade and thickness of the highgrade Colina pegmatites at depth. Latest result include: SADD023: 26.88m @ 1.40% Li2O from 94m, Inc: 18.00m @ 1.61% Li2O from 97m. SADD026: 28.80m @ 1.16% Li2O from 307m, Inc: 14.80m @ 1.51% Li2O from 321m. DD024:10.00m @ 1.05% Li2O from 186m, .00m @ 0.64% Li2O from 293m. DD025: 2.00m @ 0.89% Li2O from 190m, DD027: 2.15m @ 0.67% Li2O from 198m, 51m @ 0.94% Li2O from 220m,Inc: 1.66m @ 1.24% Li2O from 220m/lina Prospect - Metallurgical Test Work Results As previously announced2, the Company has commenced a series of metallurgical test work programs with the initial first pass sighter test work showing a high recovery of 78.72% of the Li2O into a concentrate grading a very high 6.57% Li2O. Further sighter test work will be undertaken with additional samples being prepared. These additional sighter tests will further explore the optimal crush size, and additional heavy liquid separation cut points in order to optimise the larger test work flowsheet for the planned detailed Preliminary Economic Assessment. In addition to the current resource definition drilling campaign, Latin has recommenced regional mapping activities focused on the Salinas South tenement area located approximately 17.0km to the southwest of Colina, where the previous seasons' exploration work identified a `lithium corridor' extending across 4.0km. Soil sampling completed toward the end of the previous campaign highlighted an area of anomalous lithium in the northeast of the tenement. New mapping will focus in this area to refine the initial drill targets as well as extending geochemical sampling along the full extent of the mapped prospective corridor. Announcement • Aug 24
Latin Resources Limited Provides Update on the Preliminary "Sighter" Metallurgical Test Work Completed on Drill Core from the High-Grade Salinas Lithium Project Latin Resources Limited provided the following update on the preliminary "sighter" metallurgical test work completed on drill core from the Company's 100% owned high-grade Salinas Lithium Project. Colina Prospect - Metallurgical Test Work Results Latin commissioned SGS GEOSOL laboratories (SGS), Belo Horizonte Brazil to undertake a program of "sighter" bench scale metallurgical test work on drill core from its Salinas Lithium Project. Results have been independently reviewed and interpreted by Australian BHM Process Consultants (BHM), whose key personnel have significant experience in spodumene processing, metallurgy, and process plant design. Results of the test work has shown that simple Heavy Liquid Separation (HLS), was able to recover 78.72% of the Li2O into a concentrate grading a very high 6.57% Li2O. For the purposes of summarising and qualifying the HLS data, BHM have provided a mass balance extrapolation to a potential process scenario. BHM have combined the +6.3 and 6.3-1.7mm size fractions to represent a "Coarse DMS" process and report the -1.7 - 0.5mm as "FinesDMS" processing, and the -0.5mm fraction as "Sand Processing" relating to potential Spiral and Tabling recovery. This balance only takes into account the "sinks" material recovered at greater than the 2.85 g/cm3 specific gravity mark and may be conservative in relation to overall recovery. The coarse concentrates that have been generated from this preliminary round of test work are interpreted by BHM to be considered as a widely acceptable industry standard, by which ingress of penalty and deleterious elements such as iron are below cut-off at 0.45 - 0.61% Fe (0.64 - 0.88% Fe2O3), well below the tolerable level of 1% Fe contained. Colina Prospect - Metallurgical Test Work Details: The Company submitted approximately 44 Kg of ½ NTW drill core sourced from the Colina Prospect (Colina), drill hole SADD023 (26.88m: 94.00-120.88m), which is a twin hole to SADD016 which returned an intersection of 25.24m @ 1.25% Li2O. The sampled intersection represents a complete profile of the Colina pegmatite from the central portion of the current resource definition drilling grid. The supplied drill core was stage crushed using 31.5mm, 25.4mm, 12.5mm and 9.5mm jaw crusher openings with the objective to generate 100% of material passing in 9.5mm. Granulometric analysis of the crushed samples proved the following size distributions. Following the separation of each size fraction, a 2kg composite sample was prepared for head grade chemical analysis using a sodium peroxide fusion with ICP-AES (ICP90A/ICP90Q). SGS then undertook a staged Heavy Liquid Separation (HLS) process on the four separate size ranges, across three separate solutions with specific gravities of 3.0, 2.85 and 2.70 g/cm3. These preliminary results show that it is possible to produce an industry standard spodumene concentrate using simple HLS processing alone, and that the coarse nature of the spodumene at the Salinas Project has resulted in high recovery rates at the higher crush size. Both of these preliminary findings have significant positive implications on potential future operational scale processing options and driving strong economics for the project. The Company acknowledges that this bench scale laboratory test work only provides an indication of the expected processing performance. Furthermore, this test work does not account for changes in performance that may occur at a full-scale operational process facility. Additional test work is required before the expected recovery across the deposit for an operating plant to be estimated. Colina Prospect - Studies: As previously announced, the Company has engaged SGS Geological Services, Canada (SGS) to commence and manage a Preliminary Economic Assessment (PEA) on the Company's Colina Prospect, including: Develop the process definition and description based on metallurgical test work results for a process flowsheet; Prepare mine optimisation parameters for open pit design; Prepare production schedule; Define equipment requirements; Access roads review and upgrade; Assess power supply and distribution, fuel storage facilities; Assess water management facilities (reclaim water, fresh water,potable water); Estimation of capital expenditure and operational expenditure for the process plant and surface infrastructures, including general and administrative costs, according to an AACE Class 4 estimate with an accuracy of +/-40%; Produce pre-tax project economic evaluation results (IRR, NPV, payback). Announcement • Aug 16
Latin Resources Limited Confirms Significant New Discovery At Colina West Latin Resources Limited provided the following update on resource definition drilling and other studies currently ongoing at the Company's 100% owned high-grade Colina Prospect ("Colina"). The Salinas exploration team has reported a new lithium spodumene discovery with the recently completed hole of SADD033 approximately 500 metres west of the Colina Prospect. The drilling has discovered an intersection of a new swarm of spodumene bearing pegmatites including one of 18.75m in thickness. This discovery at Colina West has significant scale implications for the Salinas Lithium Project, if drilling confirms the presence of additional parallel mineralised pegmatite systems in close vicinity to the main Colina Prospect. In addition to this significant discovery at Colina West, the Company's regional mapping campaign has highlighted a third outcropping pegmatite system one kilometre further out to the west of the new Colina West discovery hole, as well as a potential convergence of several pegmatites, including the main Colina and new Colina West systems. The Company will look to systematically drill test both of these additional high priority target areas in due course. Logging of drill core from drill hole SADD033, collared approximately 500m to the west of the Colina Prospect resource definition area, has confirmed the hole has intersected significant spodumene pegmatites down dip from mapped outcrop. A series of 17 separate pegmatites were intersected in the hole from a depth of 62.84m down hole, with several showing good spodumene mineralisation, including one individual pegmatite of over 18.75m thickness showing strong spodumene mineralisation. Processing of the drill core from SADD033 is underway including detailed geological and structural logging and sampling, with assay results pending. This discovery at Colina West has significant implications for the Salinas Lithium Project, confirming the presence of additional parallel mineralised pegmatite systems in close vicinity to the main Colina Prospect, where the Company is currently undertaking an intensive resource definition drilling campaign, and expecting to generate its Maiden JORC Mineral Resource Estimate ("MRS") later in the year. In addition to this significant discovery at Colina West, the Company's regional mapping campaign has highlighted a third outcropping pegmatite system one kilometre further out to the west of the new Colina West discovery hole, as well as a potential convergence of several pegmatites, including the main Colina and new Colina West systems. The Company will look to systematically drill test these additional high priority target areas in due course. Colina Prospect Resource Definition Drilling Update Resource definition drilling continues to steadily advance at the Colina Prospect, with 37 holes now completed or underway for a total of over 7,300m drilled to date. The Company is in full operation and on track to produce its maiden JORC Resource by the end of the calendar year, with four diamond rigs on site working on a double shift producing eight shifts of core per day. Latest assay results from holes SADD021 and SADD022 from Colina continue to show good correlation with previous results, returning high-grade lithium. Announcement • Aug 11
Latin Resources Limited Announces Commencement of Feasibility Studies for Salinas Project Latin Resources Limited announced the appointment of SGS Geological Services, Canada to commence and manage a Preliminary Economic Assessment on the Company's Colina prospect, a part of the larger Salinas Lithium Project located in the pro-mining district of Minas Gerais in southeast Brazil. SGS is a global leader in metallurgy and process development providing an integrated approach and delivering expertise throughout the mining cycle. SGS has extensive spodumene lithium expertise and have recently completed other similar lithium project studies in the region including the Sigma Lithium Grota do Cirilo Project DFS. The Company expects to deliver its maiden JORC Mineral Resource for the Colina prospect by the end of calendar year 2022, and complete the PEA by March 2023. On successful completion of the PEA, the Company anticipates progressing directly to a Definitive Feasibility Study which is programmed to be completed by December 2023. SGS will run a metallurgical test work program which may include variability sample analysis, semi quantitative XRD and QEMSCAN analysis, Heavy Liquid Separation testing, and whole ore flotation analysis. The Company also plans to commission SGS to build a Dense Media Separation pilot plant in Belo Horizonte, Minas Gerais and provide potential offtake customers with a representative lithium concentrate product. Latin has held preliminary discussions with several international car and battery manufacturers as well as leading lithium trading houses with respect to future supply of its lithium product. Latin has now taken the approach to fast track the feasibility studies to then hopefully secure offtake agreements with suitable customers. Summary of SGS - PEA scope of works: Develop the process definition and description based on metallurgical test work results for a process flowsheet, Prepare mine optimisation parameters for open pit design, Prepare production schedule, Define equipment requirements, Access roads review and upgrade, Assess power supply and distribution, fuel storage facilities, Assess water management facilities. Estimation of capital expenditure and operational expenditure for the process plant and surface infrastructures, including general and administrative costs, according to an AACE Class 4 estimate with an accuracy of +/-40% Produce pre-tax project economic evaluation results. Announcement • Jul 28
Latin Resources Limited Provides Update on Resource Definition Drilling and Other Studies Currently Ongoing At the Company's 100% Owned Highgrade Colina Lithium Prospect Latin Resources Limited provided the following update on resource definition drilling and other studies currently ongoing at the Company's 100% owned highgrade Colina Lithium Prospect. Colina Prospect Resource Definition Drilling: Latest assay results from diamond drilling at the Company's 100% owned Colina Prospect, part of the broader Salinas Lithium Project in Brazil, continue to confirm the continuity of grade and thickness of the highgrade Colina pegmatites at depth. Latest results include: SADD017: 8.87m @ 1.09% Li2O from 137.00m Inc: 1.00m @ 2.02% Li2O from 137.00m 13.86m @ 1.33% Li2O from 173.29m Inc: 7.00m @ 1.93% Li2O from 178.00m SADD018: 9.16m @ 1.68% Li2O from 133.84m Inc: 6.00m @ 2.16% Li2O from 135.0m Inc: 1.00m @ 3.52% Li2O from 137.00m 16.00m @ 1.29% Li2O from 189.00m Inc: 1.00m @ 3.06% Li2O from 190.00m and: 1.00m @ 4.22% Li2O from 196.00m SADD019: 11.96m @ 1.64% Li2O from 206.24m Inc: 8.20m @ 1.82% Li2O from 210.00m SADD020: 2.35m @ 3.57% Li2O from 120.33m 7.58m @ 1.45% Li2O from 143.77m Inc: 1.60m @ 2.45% Li2O from 144.40m. The Company has completed 29 holes for a total of approximately 5,890m of the estimated 25,000m resource definition drilling program. With the arrival of the fourth diamond drill rig on site, the resource definition drilling campaign is at full speed and on track to complete a maiden JORC Mineral Resource Estimate (MRE), for the Colina Prospect by the end of the year. In addition to the current resource definition drilling campaign, Latin has recommenced regional mapping activities focused on the area immediately to the west of Colina resource definition drilling. Preliminary work completed in this area during the previous mapping season identified highly weathered west dipping pegmatites. The new field mapping program will focus on better defining the known pegmatite occurrences and extend mapping coverage further out to the west looking for additional parallel systems. The Company controls a significant tenement package in the area, with the prospective stratigraphy extending across strike approximately 2.1km to the west and 1.0km to the south of Colina. Latin will send a separate regional exploration team to the Salinas South tenement area located approximately 17.0km to the southwest of Colina where the previous seasons' exploration work identified a `lithium corridor' extending across 4.0km. Soil sampling completed toward the end of the previous campaign highlighted an area of anomalous lithium in the northeast of the tenement. New mapping will focus in this area to refine the initial drill targets as well as extending geochemical sampling along the full extent of the mapped prospective corridor. Announcement • Jul 13
Latin Resources Limited Secures New Colina Extension Doubles Strike Length Latin Resources Limited announced that it has secured an additional 1.2 kilometres of tenure covering the interpreted southern strike extension of the Company's 100% owned high-grade Colina Lithium Prospect ("Colina"). The Company has also dispatched samples to the laboratory, to commence preliminary metallurgical test work as part of the Company's fast-track strategy. Colina High-Grade Lithium Prospect: Latin announced that it has secured additional exploration rights covering the area directly along strike to the south of the high-grade Colina Project (Figure 2 and Figure 3), where drilling has confirmed the presence of thick, high-grade, near surface pegmatites. The new option agreement extends the Company's 100% tenure a further 1.2 kilometres to the south, where drilling shows the pegmatites remain open, with the southern most drillhole targeting the main pegmatites, SADD006, returning an intersection of 21.1m @ 1.2%Li2O 1. The resource definition campaign is well underway at Colina, there has been 25 holes drilled for a total of 4800 metres. There are now three diamond rigs drilling, with a fourth rig arriving in late July. The plan is for a total of over 100 holes to be drilled for an estimated 25,000m of diamond core drilling to be completed. This program is likely to be expanded to include step out drilling to the south to outline the full strike extent of the identified pegmatites, as well as deeper holes to test for additional stacked pegmatites as previously announced. Colina High-Grade Lithium Prospect Metallurgical Test Work: The Company can confirm that samples have now been received at the SGS laboratory in Brazil, enabling the commencement of the planned preliminary metallurgical test work on the Colina lithium pegmatite. The planned test work will include Dense Media Separation ("DMS") and flotation testing to determine lithium recovery into final concentrates, and detailed mineralogical and petrological studies to confirm individual miner species present in the Colina pegmatite. Announcement • Jul 09
Latin Resources Limited (ASX:LRS) agreed to acquire Peep O’Day gold prospect of Mining and Energy Group Pty Ltd. for AUD 0.41 million. Latin Resources Limited (ASX:LRS) agreed to acquire Peep O’Day gold prospect of Mining and Energy Group Pty Ltd. for AUD 0.41 million on July 8, 2022. Under the terms of the transaction, Latin Resources Limited will issue its 6 million fully paid shares to Mining and Energy Group Pty Ltd. The acquisition included all Mining Information in the possession of MEG in relation to the Peep O'Day prospect. The transaction was approved by the department which has been obtained and Latin has full rights to explore. Announcement • Jun 29
Latin Resources Limited Updates Outstanding Kaolin Brightness Results from Cloud Nine Infill Drilling Latin Resources Limited provide an update for recent activities and next steps in relation to the advancement of its 100% owned Cloud Nine HalloysiteKaolin Deposit ("Cloud Nine") in Western Australia. The Company released its maiden Mineral Resource Estimate ("MRE") of 207Mt Inferred Resources at Cloud Nine in May 2021. RESOURCE INFILL DRILLING: To date, nearly two thirds of the composites from the Cloud Nine Resource infill drilling program have been analysed for brightness (Figure 1). The remaining holes' sample analysis has benefited from optimising the analysis pathway, coupled with a drop in COVIDrelated staffing issues at the laboratory. The remaining results are expected towards the end of July. The drilling thus far 2 has returned significant, near surface thicknesses of kaolinised granite with brightness values above 85 ISOB. A total of 66% of the drill holes analysed so far, returned results above 80 ISOB, with selected significant results >85 ISOB including: Table 1: Selected significant Cloud Nine kaolin brightness intersections (>85 ISOB). Announcement • Jun 28
Latin Resources Limited Advises the Latest Assay Results from Diamond Drilling At the Company's 100% Owned High-Grade Colina Lithium Prospect Latin Resources Limited advised the latest assay results from diamond drilling at the Company's 100% owned high-grade Colina Lithium Prospect("Colina"), one of several prospects within the Salina Lithium Project in Brazil, has confirmed the previously reported visual spodumene estimations in hole SADD016. These results have surpassed all previous intersections, returning 25.24m @ 1.25% Li2O 1 from the central area of the Colina Prospect.Mineralisation remains open to the south. Latest assay results from diamond drilling at the Company's 100% owned Colina Lithium Prospect, partof the broader Salinas Lithium Project in Brazil, have confirmed the grade of the previously reported wide pegmatite in hole SADD016 (Figure 1 and Figure 2) including: SADD0016: 25.24m @ 1.25% Li2O from 94.13m, including: 7.00m @ 1.52% Li2O from 97.00m, and: 9.19m @ 1.51% Li2O from 109.00m. Visual logging of hole SADD017 drilled down dip to the east of hole SADD016, has shown multiple separate wide pegmatites (Figure 3), with the Company's on-site field teams estimating significant zones of spodumene in the logged pegmatites (Refer to Table 1 for details). In addition to these two results, SADD020 drilled approximately 260m to the south of SADD016, has uncovered a new thick pegmatite below any previously reported intersections, with a zone of 7.46m of spodumene bearing pegmatite at a depth of 207.08m own hole (Figure 2 and Figure 4), with logging estimating between 15-20% spodumene. These results highlight the significant upside potential for the discovery of new pegmatite zones within the Colina Prospect. With the imminent arrival of additional, larger drilling rigs capable of reaching greater depths, the Company continues to push drilling beyond previously planned depths to fully evaluate this new zone. Announcement • Jun 08
Latin Resources Limited Provides the Latest Assay Results from Diamond Drilling At the Company's 100% Owned High-Grade Colina Lithium Prospect in Brazil Latin Resources Limited provided the latest assay results from diamond drilling at the Company's 100% owned high-grade Colina Lithium Prospect in Brazil, where latest results have extended the known high-grade lithium pegmatites to over one kilometre along strike. Mineralisation remains open to the south. Latest assay results from diamond drilling at the Company's 100% owned Colina Lithium Prospect have extending the known high-grade lithium pegmatite mineralisation to over 900m. Results include 1: SADD0011: 1.10m @ 1.15% Li2O from 49.90m 3.13m @ 1.48% Li2O from 60.82m Including: 1.13m @ 1.73% Li2O from 60.82m SADD0012: 4.23m @ 1.52% Li2O from 64.80m Including: 2.10m @ 2.27% Li2O from 64.80m 4.55m @ 0.98% Li2O from 97.95m Including: 2.73m @ 1.32% Li2O from 98.86m 1.55m @ 1.37% Li2O from 110.05m Including: 0.80m @ 2.12% Li2O from 110.05m SADD0013: 4.35m @ 1.76% Li2O from 36.75m Including: 3.30m @ 2.08% Li2O from 36.75m. Logging of drill core from holes SAD014 and SADD015, which are the southernmost holes drilled to date, have confirmed the presence of significant widths of spodumene bearing pegmatites extending the known occurrence to over one kilometre along strike, with mineralisation remaining open to the south. The current close spaces resource definition drilling will aim to test this fill strike extent, to approximately 400m down dip, with 100m x 50m drill spacing. Data from this drilling will be used in the calculation of the Maiden JORC Mineral Resource Estimate (MRE), for the Colina Prospect. Discussions with suitably qualified independent resource consultant groups have commenced, with an anticipated delivery timeframe of December 2022. Announcement • Jun 02
Latin Resources Limited Provides Brazil Resource Definition Drilling Update Latin Resources Limited provided an update in respect of resource definition drilling at the Company's Colina Prospect which continues to return very encouraging results from detailed geological logging; as well as provide initial observations from drilling at the Company's second target area, the Monte Alto Prospect. Colina Prospect Resource Definition Drilling: Extensive resource definition drilling is now well underway at the Company's Colina Lithium Prospect in Brazil. The drilling campaign comprises an estimated 100 holes for approximately 22,000 - 25,000m, and will focus on a strike extent of 800m, where previous drilling has identified high-grade lithium bearing pegmatites. As previously reported, the first hole of the resource drilling campaign SADD016, has intersected a very wide 27.78 meters of coarse-grained fresh pegmatite, with geological logging identifying a core zone of 21.48 meters with a visual estimation of spodumene of over 20%. Logging of drill hole SADD017 2, drilled immediately down dip from SADD016, has also confirmed a significant intersection of spodumene bearing pegmatite, further demonstrating the strong continuity of the pegmatites at the Colina Prospect. Resource definition drilling is ongoing. Monte Alto Prospect Drilling of the first five holes at the Monte Alto Prospect has been completed. Logging of these holes has highlighted a moderate north-easterly plunge, not previously recognised in the weathered surface outcrop; with the initial three holes (MADD001 - MADD003) failing to intersect the targeted pegmatite zone at depth. Following a re-examination of the outcropping pegmatite within the historic trenching and workings, combined with new structural information gained from drilling the next two holes (MADD004 and MADD005), were relocated 100m and 200m to the north-east respectively, to test the projected down plunge extension of the pegmatite. Logging has confirmed that both of these latest two holes (MADD004 and MADD005), have intersected pegmatite, however no material spodumene was logged in the core. This outcome has led to the interpretation that the Monte Alto pegmatites may represent a zoned heterogeneous pegmatite; an interpretation that is supported by the presence of some exotic minerals mapped in adjacent pegmatites in the Monte Alto area. Further drilling is required to fully understand the significant of these initial observations. Announcement • May 19
Latin Resources Limited Announces the Commencement of Resource Definition Drilling Campaign Latin Resources Limited announce the commencement of a resource definition drilling campaign at the newly named "Colina Prospect" at the Company's Bananal Valley Project in Brazil. Resource definition drilling campaign comprising an estimated 100 holes for 22,000 - 25,000m, has commenced at the Company's newly named "Colina Prospect" where previous first pass drilling has identified high-grade lithium pegmatites over a strike extent of 600-800m. The first hole of the campaign SADD016 has intersected a very wide 27.78 meters coarse grained fresh pegmatite, with geological logging identifying a core zone of 21.48 meters with a visual estimation of spodumene of over 20%. This intersection is notable wider than those in the holes SADD003 and SADD004 on section to the north which reported high-grade intersections of 17.05 meters and 17.38 meters respectively. The drilling rig has now moved 50m to the east of hole SADD016 to test further down dip from this latest wide pegmatite zone. One additional drilling rig is scheduled to arrive on site in early June to expediate the drilling of the resource definition campaign, taking the active rigs on site at the wider Salinas Project to three. A fourth, larger drilling rig is also anticipated to arrive on site in July to facilitate the completion of thedeeper >300m planned depth holes. Announcement • May 17
Latin Resources Limited Continues to Expand High-Grade Salinas Lithium Project Latin Resources Limited (‘Latin’ or ‘the Company’) announced that it has secured, through its newly created 100% wholly owned subsidiary Belo Lithium Mineracao Ltda. (‘Belo’), an additional highly prospective tenement to grow the Company's Salinas Lithium Project in Brazil (‘Salinas’ or the ‘Project’), expanding its footprint at the project to the east to cover additional strike extensions of the regional prospective host stratigraphy. Latin has secured an exclusive and binding 24-month option agreement (‘Option’ or ‘Agreement’), over the new concession in the Bananal Valley (831.118/2008) from Mineracao Salinas Ltda. (the ‘Vendor’), whereby Latin may acquire a 100% interest in this tenement to the east of the Company's existing Bananal Valley Project. The Lajinha tenement is highly prospective, with known outcropping spodumene bearing pegmatites, and this addition expands Latin's strategic land package to over 6,230 hectares in the Salinas lithium corridor. The Company is currently undertaking a systematic resource definition drilling campaign approximately 6.3 kilometres to the west of the new Lajinha tenement, where results from the Company's maiden diamond drilling campaign confirmed high-tenor lithium, with the Company recently reporting a number of very high-grade results, including: SADD001: 4.31m @ 2.22% Li2O from 83.82m, Including: 1.13m @ 2.85% Li2O from 87.0m; SADD002: 8.13m @ 2.00% Li2O from 111.3m, Including: 1.0m @ 3.22% Li2O from 112.3m and: 3.0m @ 2.20% Li2O from 115.3m; SADD003: 17.05m @ 0.95% Li2O from 65.65m, Including: 4.00m @ 1.96% Li2O from 69.65m and: 5.15m @ 1.31% Li2O from 98.35m and Including: 1.90m @ 2.13% Li2O from 98.35m; SADD004: 17.38m @ 1.46% Li2O from 119.80m, Including: 10.20m @ 2.05% Li2O from 120.95m, Including: 3.05m @ 2.26% Li2O from 120.95m and 2.00m @ 3.07% Li2O from 127.00m; SADD005: 4.25m @ 1.32% Li2O from 125.40m, Including: 1.05m @ 2.65% Li2O from 127.55m and 4.01m @ 1.36% Li2O from 159.10m, Including: 1.00m @ 1.92% Li2O from 161.10m; SADD006: 21.1m @ 1.20% Li2O from 208.80m, Including: 14.00m @ 1.69% Li2O from 210.90m and Including: 3.00m @ 2.28% Li2O from 214.90m. Drilling is also underway just 2.3 kilometres to the west of the new Lajinha tenement, where the Company is undertaking first pass drill testing of outcropping spodumene bearing pegmatites which has returned high-grade lithium results from outcrop sampling, including 2.30% Li2O 2. Announcement • May 02
Latin Resources Limited, Annual General Meeting, May 30, 2022 Latin Resources Limited, Annual General Meeting, May 30, 2022, at 11:01 W. Australia Standard Time. Location: 32 Harrogate Street, West Leederville Perth Western Australia Australia Agenda: To receive and consider the annual financial report of the Company for the year ended 31 December 2021 together with the declaration of the Directors, the Director's report, the Remuneration Report and the auditor's report; to consider the re-election of Mr. David Vilensky as Director; to consider the ratification of Prior Issue of Shares to Stocks Digital Listing Rule 7.1; to consider the ratification of Prior Issue of Options to Lind Listing Rule 7.1; to consider the approval for Issue of Deferred Rights to Mr. David Vilensky; to consider the approval for Issue of Deferred Rights to Mr. Brent Jones; to consider the approval for Issue of Deferred Rights to Mr. Pablo Tarantini; to consider the approval for Issue of Incentive Rights to Mr. Christopher Gale; to consider the approval to issue Placement Options to Waratah Capital Advisers; to consider the ratification of prior issue of Placement Securities; and to consider the ratification of prior issue of Placement Securities. Announcement • Apr 27
Latin Resources Limited Announces Diamond Drill Testing of High-Grade Outcropping Lithium Pegmatites At the Company's Second Prospect Area, the Monte Alto Prospect in Brazil Latin Resources Limited announced that diamond drill testing of high-grade outcropping lithium pegmatites at the Company's second prospect area, the Monte Alto Prospect in Brazil, has commenced. The latest assays from drilling at the Company's first prospect, the Bananal Valley Prospect to the west, continue to return exceptional results. The latest results from the ongoing drilling at the Bananal Valley Prospect have returned the thickest intersection to date with 21.1m @ 1.20% Li2O from 208.8m in hole SADD006. These results have reaffirmed the Company's belief that the Salinas Lithium Project may represent a significant new lithium discovery, with lithium intersections from holes SADD005 and SADD006. These results, have now confirmed the presence of thick high-grade lithium bearing pegmatites over a strike extent of more than 600m, prompting the Company to commence a large systematic drilling campaign over the area aimed at providing sufficient data to undertake a maiden Mineral Resource Estimate ("MRE") for the Salinas Lithium Project. This resource definition drill out is expected to comprise approximately 25,000m of diamond drilling, testing a full 800m strike length of the known high-grade pegmatites, from surface to a down dip depth of around 400m. This extended strike length is based on recent positive drill holes executed on the central target, located some 300m to the north of hole SADD001. This activity, with multiple drilling rigs committed to the drill out of the project, will enable the Company to fast track its next major milestone of a maiden JORC resource. Drilling rig access to the Monte Alto site has now been established, with the drilling rig on site ready to commence coring. The Company is planning to undertake an initial 2,000m drilling campaign to test the strike extent of the outcropping spodumene bearing pegmatites, where initial sampling has returned high-grade lithium with multiple high-grade results up to 2.30% Li2O 3. Announcement • Apr 11
Latin Resources Limited Announces New Drilling Results at Salinas Lithium Project Latin Resources Limited announced latest assay results from drilling at the Salinas Lithium Project in Brazil, continue to confirm high-grade lithium with a peak grade of 2.0m @ 3.07% Li2O returned in hole SADD004 1. These continued very positive results from the Salinas Lithium Project in Brazil provide Latin with the confidence to expand the drilling team to facilitate the fast tracking of systematic mineral resource definition drilling. Results received from the latest two diamond drill holes at the Salinas Lithium Project have confirmed the continuity of the previously reported high-grade lithium pegmatites, and upgraded the project through now confirming the thickening of the logged pegmatites to the south. More outstanding assay results show further high-grade lithium in pegmatites, with a peak of 2.0m @ 3.07% Li2O. All results remain open along strike and down dip. Intersections include: SADD004: 17.38m @ 1.46% Li2O from 119.80m. Including 10.20m @ 2.05% Li2O from 120.95m. Including: 3.05m @ 2.26% Li2O from 120.95m and: 2.00m @ 3.07% Li2O from 127.00m. SADD003: 17.05m @ 0.95% Li2O from 65.65m. Including 4.00m @ 1.96% Li2O from 69.65m and: 5.15m @ 1.31% Li2O from 98.35m. Including: 1.90m @ 2.13% Li2O from 98.35m. Assay results continue to show consistent down hole and down dip grade profiles, which is now demonstrated across the first two wide spaced drill sections. Drilling of SADD011, approximately 350m to the north of drilling reported above, has confirmed the continuation of spodumene bearing pegmatites over a strike extent approaching one kilometre. This positive result indicates a possible link of a mineralized system to the south target, expanding the strike considerably. Planning for additional drill testing is being carried out to test this middle zone. These further very positive assay results provide the company the confidence to secure additional drilling rigs in order to fast-track mineral resource definition drilling, of what it believes could be a significant lithium occurrence. Announcement • Mar 30
Latin Resources Limited Announces the First Assay Results from Drilling at the Salinas Lithium Project in Brazil Latin Resources Limited announced that the first assay results from drilling at the Salinas Lithium Project in Brazil (Salinas Lithium Project), have confirmed that the previously reported spodumene rich pegmatites contain high-grade lithium with a peak grade of 3.22% Li2O returned from one sample. These positive assay results at the Salinas Lithium Project in Brazil are growing Latin's confidence of a potential new, high-grade lithium discovery. Assay results from the sampled pegmatite zones in the first two diamond holes (SADD001 and SADD002), show that the two main logged pegmatites, both contain significant lithium, with Peg_2 showing a consistent higher grade in both holes. Drilling on all five sections in the Southern Target area has demonstrated strong continuity of the logged pegmatites both along strike and down dip, with the emerging pegmatite swarm remaining open in all directions. Detailed logging, core cutting and sampling of all drill holes from this area is now complete with assay results from the next holes SADD003 and SADD004 anticipated within the next few weeks. Drilling of the initial six priority Phase 1 drill holes across four drill sections in the Southern Target area has shown all six holes intersecting a series of stacked spodumene rich pegmatites. Logging has confirmed that the individual pegmatites range in true thickness to a maximum of 21.1m (Peg_2 SADD006), with a clear trend for the pegmatites to increase in thickness to the south. Drilling of holes SADD008-SADD010 in the Northern Target area, has confirmed that the intersected pegmatites are narrower in this direction, suggesting that the system may be closing out to the northeast. All logging and sampling has been completed from these holes, with assay results pending. The drilling focus has now returned to the Southern Target area containing pegmatites that are significantly thicker and remain open to the south, where the Company will commence infill and step-out drilling. Detailed structural logging and petrological test work on the main pegmatites will be undertaken to assist in developing the detailed 3D model of the emerging pegmatite swarm. Recent Insider Transactions Derivative • Mar 10
Independent Non-Executive Director exercised options to buy AU$252k worth of stock. On the 4th of March, Brent Jones exercised options to buy 6m shares at a strike price of around AU$0.0095, costing a total of AU$60k. This transaction amounted to 26% of their direct individual holding at the time of the trade. Since March 2021, Brent has owned 23.98m shares directly. This was the only transaction from an insider over the last 12 months. Announcement • Mar 04
Latin Resources Limited Confirms the Ongoing Diamond Drilling Campaign at the Salinas Lithium Project in Brazil Latin Resources Limited confirmed that the ongoing diamond drilling campaign at the Company's Salinas Lithium Project in Brazil (Salinas or the Project), is continuing to intersect thick, shallow dipping spodumene rich pegmatites, with SADD003 returning a best intercept of 16.17m true thickness. As previously reported, the Company's initial drillhole SADD001, intersected three separate spodumene bearing pegmatites down dip from high-grade lithium outcrop samples 1. Drilling of thenext two holes is now complete, with SADD002 targeting approximately 100m down dip from SADD001, and SADD003 some 180m to the south along strike. All three holes have intersected the same three layers of pegmatites. Preliminary logging of the drill core from all holes has indicated that the pegmatites contain a significant abundance of coarse light green and purplish spodumene crystals throughout with indications that the thickness of the intersected pegmatites is increasing down dip and along strike to the south. Drill section A - A' and Drill section B - B' below, show all three of the completed drill holes along with the current hole SADD004. As can be seen, the three separate spodumene bearing pegmatites have been intersected in all holes to date, with logging indicating an increase in the true width of all three pegmatites to the south. Detailed logging, core cutting and sampling of the first three holes is progressing well, with the first samples ready for dispatch to the laboratory for analysis. Given the early success, the Company anticipates that the current drilling campaign will be expanded following the completion of the current program, with the potential to add additional holes based on logging. Announcement • Feb 16
Latin Resources Limited Commences Drilling at Salinas Lithium Project in Brazil Latin Resources Limited confirmed that drilling has commenced, with the top 90 metres of the first hole intersecting multiple zones of spodumene bearing pegmatites at the Company's Salinas Lithium Project in Brazil, where the Company has defined multiple priority drill targets in what has been described as a lithium corridor. Whilst drilling is ongoing to target depth, the Company is pleased to note that already three separate shallow-dipping spodumene pegmatites have been intersected in the first drill hole SADD001. The intersection of multiple spodumene pegmatites down dip from the high-grade outcrop (2.71% Li2O and 1.45% Li2O 1), in the first hole drilled proves Latin's concept for the region and has greatly enhanced the potential for a significant lithium discovery in the Bananal Valley. The hole SADD001 intersected a number of spodumene pegmatite up to 5.25m thick and is currently at a drill depth of approximately 90m and is planned to continue to a depth of 120m or when mineralisation finishes. The geological team expect to see thicker zones as these pegmatites are known to pinch and swell as evidenced in the Company's surface mapping and sampling. The drilling will continue over the coming days and field teams will prioritise the logging and sampling of this first hole to get samples to the laboratory for analysis. The Company will provide additional updates throughout the 14-hole drilling campaign and as assay results are received and interpreted. Announcement • Feb 08
Latin Resources Limited Confirms Arrival of Two Diamond Drill Rigs on Site and to Commence Drilling over the Next Few Days on its Salinas Lithium Project in Brazil Latin Resources Limited confirmed two diamond drill rigs have arrived on site and will commence drilling over the next few days on the Company's Salinas Lithium Project in Brazil ("Salinas" or the "Project"), where the Company has defined multiple priority drill targets. Salinas is located in the highly prospective Bananal Valley district of Minas Gerais Province of Eastern Brazil. Minas Gerais hosts the Eastern Brazilian lithium pegmatite province, home to CAD 1.3 billion market cap Sigma Lithium Corporation. The Company has planned a total of 14 diamond drill holes initially to test the outcropping high-grade Li bearing pegmatites identified in previous mapping and geochemical sampling programs. The drilling is designed to test two priority target areas where sampling has returned multiple high-grade results including 2.71% Li2O and 1.45% Li2O i from highly weathered spodumene bearing pegmatites, mapped over a strike length of over 1.2 kilometres within the Company's tenure. The proposed drilling campaign will be the first drilling to test this highly anomalous and outcropping mineralised trend in a region that currently contains 100% of Brazil's official lithium reserves. SALINAS: Initial results from the 38-reconnaissance stream sediment sampling conducted over the Salinas South project have highlighted a "lithium corridor" extending northeast- southwest across the tenement for over six kilometres, with a cluster of highly anomalous results from drainage sampling in the northeast of the tenement. These results represent a significant blind anomaly in an area which is devoid of any outcrop. The high-grade stream sediment results which peak at 158ppm Li 1 are well above the background results of 45ppm Li, as determined by Latin's baseline reference sampling downstream from a known high-grade Li bearing spodumene pegmatite. The Company will drill a total of 14 holes to test the outcropping high-grade Li bearing pegmatites identified in previous mapping and geochemical sampling programs. The drilling is designed to test two priority target areas where sampling has returned multiple high-grade results including 2.71% Li2O and 1.45% Li2O 2 from highly weathered spodumene bearing pegmatites, mapped over a strike length of over 1.2 kilometres within the Company's tenure. The drilling campaign will be the first drilling to test this highly anomalous and outcropping mineralised trend in an underexplored region that currently contains 100% of the Brazil's official lithium reserves. Announcement • Jan 28
Latin Resources Limited Announces High-Grade Results from Cloud Nine Halloysite-Kaolin Deposit Latin Resources Limited provided an update on the commencement of the 2022 site based exploration activities at the Cloud Nine HalloysiteKaolin deposit in Western Australia. Following a short break of the Christmas and New Year period, field activities at Cloud Nine have now recommenced. The Company is continuing to progress advanced metallurgical, mineral resource and other studies as part of its ongoing evaluation of the deposit, including preparation for a maiden core drilling campaign to collect metallurgical and geotechnical samples. The Company has secured a specialised sonic drilling contractor with experience specific in coring kaolinised granite. A tenhole drilling program has been designed to provide sufficient core samples to conduct bulk density test work on a number of representative units across Cloud Nine, as well as providing additional core samples for ongoing detailed metallurgical test work. The final halloysite results via XRD analysis have been returned from the close spaced geostatistical cross drilling at the Company's 100% owned Cloud Nine HalloysiteKaolin Deposit near Merredin, Western Australia . Drilling results once again, continue to demonstrate the consistent nature of the halloysite bearing material within the area tested at Cloud Nine and reinforces its position as a globally significant halloysite deposit. The Company has previously reported a JORC Inferred Mineral Resource of 207Mt of kaolinised granite at Cloud Nine, which includes separate domains containing 123Mt of brightwhite kaolinite and 84Mt of kaolin/halloysitebearing material. The last 13 drillholes to be analysed from the closespaced drilling, have returned consistent halloysite grades and thicknesses, further confirming the high quality of the area tested. The recent results also confirmed the continued presence of two discreet zone of halloysite bearing material within the kaolinised granite clays. Exceptionally highgrade halloysite intersections, including 36% and 46% halloysite, were encountered within the broader zones. Significant results received from the southern portion of the Geostatistical Cross include: NBAC378: 6m @ 24% halloysite from 7m and 13m @ 18% halloysite from 21m NBAC380: 16m @ 27% halloysite from 14m NBAC381: 12m @16% halloysite from 19m Incl: 2m @ 28% halloysite from 21m NBAC382: 6m @ 26% halloysite from 14m Incl: 2m @ 36% halloysite from 16m NBAC383: 18m @ 26% halloysite from 7m Incl: 6m @ 46% halloysite from 17m NBAC388: 20m @ 13% halloysite from 8m NBAC389: 16m @ 12% halloysite from 8m. A specialist drilling contractor has been engaged to complete approximately 400 metres of drilling using the sonic drilling technique, at representative locations within the Cloud Nine Mineral Resource area. The sonic drilling system has demonstrated elsewhere that it can provide competent core samples of kaolinised granite like that found within Cloud Nine. The core samples will be used to determine, a deposit specific, bulk density for the geological domains used in the current JORC Mineral Resource Estimate at Cloud Nine, along with providing additional samples material for the Company's ongoing metallurgical test work. Drilling is scheduled to commence in late February 2022. Bulk samples required for studies by the Company's research partner, CRC CARE Pty Ltd. are currently being collected from drill samples on site. This will enable commencement of the highly specialised test work as part of the Company's collaboration with CRC CARE, in an effort to develop critical methane and other Green House Gas capture technology. This collaboration between Latin and CRC CARE is a significant investment by the Company. Announcement • Jan 24
Latin Resources Limited Announces Diamond Drilling Set to Commence on Brazil Lithium Projects Latin Resources Limited confirmed that diamond drilling will commence in early February on the Company's Salinas Lithium Project in Brazil where the Company has defined multiple priority drill targets. Salinas is located in the highly prospective Bananal Valley district of Minas Gerais Province of eastern Brazil. Minas Gerais hosts the Eastern Brazilian lithium pegmatite province, home to CAD 1.3 billion market cap TSXV listed company Sigma Lithium Corporation. The Company has planned a total of 14 diamond drillholes initially to test the outcropping highgrade Li bearing pegmatites identified in previous mapping and geochemical sampling programs. The drilling is designed to test two priority target areas where sampling has returned multiple high grade results including 2.71% Li2O and 1.45% Li2Oi from highly weathered spodumene bearing pegmatites, mapped over a strike length of over 1.2 kilometres within the Company's tenure. The proposed drilling campaign will be the first drilling to test this highly anomalous and outcropping mineralised trend in a region that currently contains 100% of Brazil's official lithium reserves. Announcement • Dec 13
Latin Resources Limited Releases an Update on Its Mostazal Copper Project in Northern Chile Latin Resources Limited has released an update on its Mostazal copper project in northern Chile. Announcement • Nov 24
Latin Resources Limited Provides Update on Salinas Lithium Project in Brazil Latin Resources Limited provided an update of recent and ongoing activities at the Company's Salinas Lithium Project in Brazil, where the Company has defined multiple drill targets and submitted drill permits to commence drilling. The Company has also secured two new highly prospective tenements to grow its footprint at the project area with known outcropping high-grade lithium spodumene bearing pegmatites. Salinas is located in the highly prospective Jequitinhonha Valley district of Minas Gerais Province of eastern Brazil. Minas Gerais hosts the Eastern Brazilian lithium pegmatite province, home to TSX-V listed Sigma Lithium Corporation and lithium producer Companhia Brasilia de Lítio. The Company has finalised a total of 14 drill sites to test the outcropping high-grade Li bearing pegmatites identified in previous mapping and geochemical sampling programs. Drill permits have been submitted for the Phase I drillholes, with drilling scheduled to commence in February 2022. Additional permits for the follow-up Phase II holes will be lodged in the coming weeks. The drilling is designed to test two priority target areas where sampling has returned multiple high- grade results including 2.71% Li2O and 1.45% Li2Oi from highly weathered spodumene bearing pegmatites, mapped over a strike length of over 1.2 kilometres within the Company's tenure. The proposed drilling campaign will be the first drilling to test this highly anomalous and outcropping mineralised trend in an underexplored region that currently contains 100% of the Brazil's official lithium reserves. Lithium, as a highly volatile element, is rapidly leached and depleted from weathered spodumene. Therefore, the presence of remnant lithium anomalism of this calibre in weathered outcrop is extremely encouraging and worthy of a targeted drilling campaign. Announcement • Aug 20
Latin Resources Limited Provides an Update of Recent and Ongoing Activities At the Company's Salinas Lithium Project Latin Resources Limited provided an update of recent and ongoing activities at the Company's Salinas Lithium Project ("Salinas" or the "Project"), located in the highly prospective Jequitinhonha Valley district of Minas Gerais Provence of eastern Brazil. Minas Gerais hosts the Eastern Brazilian lithium pegmatite province, home to TSX-V listed Sigma Lithium Corporation and lithium producer Companhia Brasileira de Lítio (CBL). In March 2021, the Company announced its intention to commence field work on the Salinas Lithium Project in Brazil; however, activities were delayed due to a major COVID-19 outbreak in the region resulting in widespread lockdowns and travel restrictions. There has been a significant improvement in the local COVID situation and corresponding easing of restrictions,allowing Latin's fully vaccinated field team to safely commence on-ground activities. The field team has recently completed its initial site visit originally planned for earlier in the year, with a number of highly encouraging results, suggesting strong potential for hard-rock lithium atthe Salinas Project, as detailed within this announcement. The Jequitinhonha valley is a highly underexplored region that currently contains 100% of the official lithium reserves of Brazil. Latin Resources' geologists completed major field work on the tenements in 2019 in which they located several occurrences of spodumene never previously known or reported. Latin Resources' lithium exploration efforts will now focus on advancing this highly prospective spodumene tenure. The Company's in-country resources will be working exclusively on these Brazilian lithium projects so they can effectively execute exploration programs to deliver exploration updates and results to its shareholders in a timely manner. The exploration program carried out by Latin Resources in 2019 showed numerous pegmatites hosted in schist, which showed homogenous spodumene mineralisation. The pegmatites cross-cut the rivers with exposure in a general NNW trend and continued into the neighbouring tenement to the south. Further work on the pegmatites have now been followed up to determine their relationship to the Salinas main pegmatite which is 1.5km NE. The 600m distance between points in the west and points in the east showing spodumene mineralisation is a good sign for a potentialy continuous pegmatite system below surface. Desktop studies completed during the hiatus in field work included the compilation and
review of historic data and results from previous explorers in the area. The historical work includes extensive abandoned mines and outcrop, where Latin has undertaken work previously when it first identified the opportunity to secure these high-quality tenements in 2019. The recent review process has resulted in the identification and ranking of a number of targets in three key areas key focus areas, where Latin intends to undertake
systematic mapping and sampling over the coming weeks, with the aim of finalising drill targets. The initial focus of exploration work was the Bananal Valley area located in the northeast of the properties. Detailed mapping, stream sediment and outcrop sampling was completed across an area of approximately 4 square kilometres. Several spodumene bearing pegmatites were mapped at surface, over strike lengths of more than 200m. A total of 44 outcrop samples and 38 stream sediment samples were collected in the field. All samples have been dispatched to the laboratory for analysis, with results anticipated in September 2021. Announcement • Jun 25
Latin Resources Limited Receives Results from First Pass Reconnaissance Rock Chip Sampling from the Peep O'day Prospect Latin Resources Limited announced that recently received results from first pass reconnaissance rock chip sampling from the Peep O'Day Prospect within the NSW Yarara JV Project i, has confirmed the presence of gold mineralisation in the area. A total of 57 samples were collected in the field by Latin's Geological team as a part of the first pass reconnaissance mapping exercise, which showed the area was dominated by altered granitic rocks, cut through by a stockwork of sheeted quartz veins. Samples were taken from both the veins themselves and the altered wall rock, both of which have returned anomalous gold mineralisation. Assay results from samples along the strike extent of the workings have shown distinct clusters of gold mineralisation, indicating the system may be open and extend to the north and south under cover. In total, approximately 30% of the samples collected have returned gold grades greater than 1.0 gram per tonne with some of the better results from the individually sampled veins including: 9.78g/t Au, 8.58g/t Au, 8.41g/t Au and 7.79g/t Au, with the altered wall rock returning grades up to 4.53g/t Au. A detailed systematic surface geochemical sampling program is currently underway on site to better define the Peep O'Day gold trend. A drone magnetic survey planned for the coming weeks, will assist in better defining the interpreted gold trend and assist in planning further work. Based on the results from the geochemical sampling and geophysical survey, the Company will look to undertake additional on-ground exploration work in the wider Peep O'Day area, which may include additional grid mapping, infill soil sampling, and trenching across the interpreted mineralised trend. Announcement • Jun 22
Latin Resources Limited Commences Drilling At Noombenberry Kaolin-Halloysite Project Latin Resources Limited announced the commencement of the next phase of aircore drilling at the 100% owned Noombenberry Kaolin-Halloysite Project, where the Company recently released a 207Mt inferred Mineral Resource Estimate ("MRE") at the Cloud Nine Deposit. The planned drilling aims to test for kaolinized granitic material for a further 4.5km to the north of the Cloud Nine deposit, within the Companies 100% owned granted tenement. Potential exists for the kaolin-halloysite material to extend both north and south of Cloud Nine for up to 100km covered by the Company's extensive regional tenement package. Drilling will initially comprise an estimated 3,700m of aircore drilling on a 400 meter by 400- meter grid pattern, before moving the drilling rig back to complete selective infill
drilling within the Cloud Nine deposit targeting the known high grade halloysite zones, and ultra-bright while kaolin zones within the existing Infrared MRE. It is expected that this drilling campaign will be completed in early July 2021, followed immediately by the 2nd phase infill drilling, with all composite samples to be dispatched to various specialised laboratories in South Australia for detailed analysis. Announcement • Jun 17
Latin Resources Limited Secures Additional Tenements in the Lachlan Fold Belt Latin Resources Limited secures additional tenements in the Lachlan Fold Belt. Highlights: Lachlan Transverse Zone - NSW: Latin secures three new tenements totaling some 570km2 in the heart of the highly prospective NSW Lachlan Fold Belt, in close proximity to the world class Cadia Mine, and McPhillamys Gold Project. The recently granted Manildra and Burdett projects straddle the regional scale Manildra Fault within the Lachlan Transverse Zone, with known gold and copper occurrences within the tenement as well as along strike to the north and south, including recent shallow RC drilling results i of 26m @ 1.5g/t Au from 25m, and 3m @ 7.82g/t Au from 57m. New tenement application Boree Creek, situated less than 20km to the northwest of Newcrest's Cadia Copper-gold Mine, hosts known copper mineralization associated with brecciated dacite porphyry body, with historic rock chip assays4 returning up to 2.7% Cu. Gundagai Ni-Cu-PGE Project - NSW: Latin secures new 165km2 project area in the Gundagai region of central NSW with two new tenement applications. The project area is considered to be highly prospective for ultramafic layered intrusive Ni-Cu-PGE style mineralization, orogenic gold mineralization, and copper-gold skarn mineralisation, with numerous known gold, base metal, chromite and PGE occurrences listed in the NSW government database. Yarara Gold Project - NSW: On-ground prospecting work has commenced, confirming the 1200m strike length of historic workings at the Peep O'Day prospect in the Ournie Zone. Latin will undertake systematic soil geochemical sampling program before finalizing drill targets and submitting applications for ground disturbing works. Announcement • Jun 01
Latin Resources Limited Announces Maiden JORC Mineral Resource - Noombenberry Project Latin Resources Limited announced the completion of the Company's Maiden Inferred Mineral Resource for the 100% owned Noombenberry Halloysite-Kaolin Project (‘Noombenberry’ or the ‘Project’), where the Company has named its first deposit the Cloud Nine Deposit (‘Cloud Nine’). The Mineral Resource has been estimated and classified by a Competent Person and is reported here in accordance with the JORC Code (2012). Within only 18 months of identifying the opportunity for halloysite, given the very shallow nature of the resources (average <4 m from the surface) the Company has been able to rapidly define this maiden MRE, which has substantial potential to grow, being open in all directions. The Company intends to expedite the next round of drilling to elevate some of the Resources to the Indicated or Measured classification for the purposes of a PFS, which can all be funded with existing cash of more than $4 million at end of March 2021. The Could Nine deposit is located on the Company's 100% owned exploration licence E70/2622, which is situated approximately 350km to the east of Perth and to the southeast of the town of Merredin. The Company controls a commanding regional tenement package, covering over 560km2 of what the Company believes is the most prospective ground in the region to identify repetitions of the high-grade Cloud Nine deposit. Initial reconnaissance sampling to the northeast of the Cloud Nine Deposit has confirmed additional occurrences of ultra-bight white kaolin and high-grade halloysite, with results of over 25% halloysite from one site and 84 ISO-B kaolin from the other. Inferred Mineral Resource Estimate Summary: A global Inferred Mineral Resource estimate for the Cloud Nine Deposit of 207Mt of kaolinised granite has been reported by RSC, using an ISO Brightness (‘ISO-B’) R457 cut-off of 75. The global kaolinised granite Resource contains a total of 73Mt of bright white (+75 ISO-B) Kaolin product with an ISO-B of 79 in the -45 µm size fraction, or 29Mt of ultra-bright white (+80 ISO-B) kaolin product with an ISO-B of 82; both of which are considered high-quality product specifications, potentially suitable for a range of industrial applications. The global Resource also contains a relatively contiguous halloysite domain within the kaolinised granite. This domain contains 50Mt at an average grade 6% halloysite, using a 1% halloysite cut-off; or 35Mt at an average grade of 6% halloysite, using a +75 ISO-B cut-off; or 27Mt at an average grade of 8% halloysite using a +5% halloysite cut-off. Data from the drilling show the presence of high-grade halloysite, with up to 41% halloysite reported in one hole 8, and numerous intersections over 20% halloysite. Additional drilling to better define these high-grade zones will be undertaken in upcoming drilling campaigns aimed at extending the current resource to the north and increasing the confidence of the MRE to the Indicated and Measured classification. Announcement • Mar 17
Latin Resources Limited Provides Noombenberry Exploration Update Latin Resources Limited announced that results from analysis from an area where logging showed a very thick zone of kaolinitic saprolite, have confirmed strong halloysite development, within the ultra-bright white kaolinite. With results received from 300 of the 750 samples submitted for detailed test work at the Noombenberry Project, the company is on track to deliver the maiden JORC resource in Second Quarter 2021 on this extremely project. Significant composite results from the recently received test work results from the Noombenberry Project. As a part of the Company's routine analytical process, selected samples are sent for Scanning Electron Microscope ("SEM") Quality Control ("QC") analysis. Results from this work have shown good halloysite nano-tube development with high aspect ratio (length to width ratio). This QC analysis is extremely important in the early stage of a new project of this nature, with the Company's exploration team working closely with the laboratory and other specialised industry experts to ensure the high standards of test work and results are achieved. Announcement • Mar 10
Latin Resources Limited Provides an Exploration Update on Noombenberry Project Latin Resources Limited announced that the second batch of results from its 100% owned Noombenberry Project, have continued to show bright to ultra-bright kaolinite and high grade halloysite, with individual composite sample grades of up to 23% halloysite/87 ISO-B Brightness. The Company plans to re-commence drilling once all statutory approvals have been received to extend the current drill coverage into its adjacent 100% owned tenement (E77/2624), where these initial results show the bright-white kaolin and high grade halloysite mineralisation is open to the north. Latin has formally engaged a suitable independent consulting group to undertake a maiden JORC resource estimate for the Noombenberry Project mineralisation. Latin's geological team is working closely with the consultant group, with geological domaining and the construction of wireframe model underway. This precursor work will enable the fast tracking of the estimation process once all test work results have been received. Recent Insider Transactions Derivative • Mar 04
MD & Executive Director exercised options and sold AU$540k worth of stock On the 2nd of March, Christopher Gale exercised options to acquire 11m shares at no cost and sold these for an average price of AU$0.051 per share. This trade did not impact their existing holding. For the year to December 2019, Christopher's total compensation was 78% salary and 22% non-salary. Since March 2020, Christopher's direct individual holding has increased from 1.38m shares to 8.22m. Company insiders have collectively sold AU$887k more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Mar 04
Independent Non-Executive Chairman recently sold AU$459k worth of stock On the 2nd of March, David Vilensky sold around 5m shares on-market at roughly AU$0.092 per share. This was the largest sale by an insider in the last 3 months. This was David's only on-market trade for the last 12 months. Announcement • Feb 25
Latin Resources Limited Announces Results from the Initial Batch of Samples from Air-Core Drilling At the Company's 100% Owned Noombenberry Project Latin Resources Limited announced that results from the initial batch of samples from air-core drilling at the Company's 100% owned Noombenberry Project (Noombenberry or the Project), have been returned from the laboratory. Results from the first 100 samples submitted for test work have confirmed the project contains very-high grade halloysite, with individual composite sample grades of up to 37% halloysite1, contained within the bright white (>75 ISO-B) to ultra-bright white (>84 IOS-B) kaolinite at Noombenberry. Intersections of kaolinized granite in the 14 holes for which results have been received to date average 13 meters, up to a maximum of 32 meters thickness, while the average depth to the top of the kaolinite zone in these holes is just 8m below surface. While this first batch of results represents >15% of the total number of holes drilled, these initial results are extremely encouraging which enables the Company to move forward to undertake its maiden JORC resource on the Project. The nature of kaolinite and halloysite mineralisation, being very similar minerals means that very detailed and time-consuming test work is required to gain accurate and reliable results. Latin has been working closely with the various groups undertaking the test work of the Noombenberry samples, including Bureau Veritas Laboratories, CSIRO, and the University of South Australia to streamline this process and enable a steady throughput of samples. The result of this collaboration is that Latin now expects to receive regular results consistently from all groups on a weekly basis. The Company plans to re-commence drilling once all statutory approvals have been received to extend the current drill coverage into its adjacent 100% owned tenement (E77/2624), where these initial results show the bright-white kaolin and high grade halloysite mineralisation is open to the north. Logging of the aircore samples from all the holes across the very large 18km2 area tested at Noombenberry has shown the development of a thick consistent blanket of kaolinized granite. With these initial results confirming the bright white nature of the kaolinite material, and halloysite development in a high proportion of the holes where results have been received; the company is very confident about the potential of this emerging and exciting discovery. Latin has formally engaged a suitable independent consulting group to undertake a maiden JORC resource estimate for the Noombenberry Project mineralisation. Latin's geological team is working closely with the consultant group, with geological domaining and the construction of wireframe model underway. This precursor work will enable the fast tracking of the estimation process once all test work results have been received. Announcement • Jan 20
Latin Resources Limited Completes First Pass and Infill Air-Core Drilling At the Owned Noombenberry Project Latin Resources Limited advised that first pass and infill air-core drilling has been completed at the Company's 100% owned Noombenberry Project ("Noombenberry" or "the Project"), located to the east-southeast of Merredin, Western Australia. The Company completed 197 drill holes for a total of 4,430 meters of vertical shallow air-core drilling over an area of approximately 4.5km by 4.0km (18km2), to test the extents of a known Kaolinite - Halloysite occurrence where previous sampling has returned results of 38.9% Kaolinite, 15% Halloysite and 31.8% K-feldspar from the 45-180 micron fraction 2. The initial phase of drilling on a regular 400m x 400m grid pattern was completed prior to the Christmas break, with a second phase of off-set infill drilling to a nominal 200m x 200m pattern focussed on thicker zones of logged kaolinitic clays completed in the first weeks of January 2021. Logging of air-core drill cuttings has confirmed significant intersections of bright white kaolinite across the area tested, with a maximum logged down hole intersection of 50 meters (NBAC058). This sequence of well-developed kaolinitic clay (saprolite) beneath a thin layer of soil cover is consistent across the area tested, as demonstrated in a simplified geological cross section 6,494,000mN which cuts through the centre of area of drilling. Composite samples from the air-core drilling will be sent to laboratories in Perth and Adelaide where they will undergo detailed test work including; size fraction analysis, brightness testing, definitive clay mineral species quantification via a combination of X-Ray Diffraction ("XRD"), and spectral scanning, along with other elemental analysis via X-Ray Florence ("XRF"). Initial results from test work are anticipated to be returned from the laboratory in the February 2021. Discussion have commenced with suitably qualified geological consultants in respect to the generation of a maiden resource estimate for the Noombenberry Project. Once all results from test-work have been received, a detailed geological interpretation will be produced by Latin Resources' geological team including geological and mineralisation domain wireframes to be used in the estimation process. With Reconnaissance prospecting of `target dams' identified in aerial photomapping, confirming the presence additional bright white kaolinitic clays and kaolinized granite some 15 kilometres along strike to the north-east of the drilling area1; the Company is confident of the potential to expand the footprint of this Kaolinite occurrence within the Company's considerable tenement holdings (Appendix 1) in the future. Announcement • Dec 16
Latin Resources Limited announced that it has received AUD 5.00001 million in funding On December 15, 2020, Latin Resources Limited (ASX:LRS) closed the transaction. Announcement • Dec 15
Latin Resources Limited Commences Drilling at Noombenberry Project Latin Resources Limited announced that air-core drilling has commenced at the Company's Noombenberry Project (Noombenberry or The Project),
located to the east-southeast of Merredin, Western Australia, and is progressing well. The drilling campaign will continue up to the December 20, 2020, when drilling crews are scheduled to demobilise for the Christmas break. The Company will complete an estimated 2,500m - 3,000m of shallow air-core drilling to confirm the extents of a known Kaolinite - Halloysite occurrence. The initial phase of drilling will be completed in a regular 400m x 400m grid pattern, with a second phase of off-set infill drilling to a nominal 200m x 200m pattern focusing on thicker zones of kaolinite development to be completed should time permit. Any unfinished areas of infill drilling will be completed early in 2021. The Company has additional capacity within the existing approvals to extend the drilling campaign as required. Reconnaissance prospecting of `target dams' identified in aerial photomapping, has confirmed the presence of sub-cropping bright white kaolinitic clays and kaolinised granite, some 15 kilometres along strike to the north-east of the known halloysite-kaolinite occurrence, within new tenement applications lodged by Latin. Four sub-outcrop samples of this bright-white material have been collected from two specific sites (Table 1), and submitted for detailed test work along with the composite samples from the air-core drilling. Composite samples from the air-core drilling will be sent to laboratories in Perth and Adelaide where they will undergo detailed test work including; brightness testing, definitive clay mineral species quantification via a combination of X-Ray Diffraction ("XRD"), and spectral scanning, along with other
elemental analysis via X-Ray Florence ("XRF"). Results from test work are expected to be returned from the laboratory in January 2021. Announcement • Dec 09
Latin Resources Limited announced that it expects to receive AUD 5.00001 million in funding Latin Resources Limited (ASX:LRS) announced a private placement of 166,667,000 shares at a price of AUD 0.03 each for gross proceeds of CAD 5,000,010 on December 7, 2020. The transaction will include participation from sophisticated and professional investors. The transaction is expected to close on December 15, 2020. Announcement • Nov 26
Latin Resources Limited Announces Air-Core Drilling to Commence At the Noombenberry Halloysite-Kaolin Project in Western Australia Latin Resources Limited announced that air-core drilling will commence in early December at the Company's Noombenberry Project, located to the east-south-east of Merredin, Western Australia. Analysis of surface samples collected as part of a reconnaissance mapping exercise in late 2019 returned results of 38.9% Kaolinite, 15% Halloysite and 31.8% K-feldspar from the 45-180 micron fraction. These surface sample grades provide encouragement for the potential for high quality halloysite kaolin at Noombenberry, which has a higher market value for broad industrial applications than the more commonly occurring kaolin without the presence of halloysite. The company will complete an estimated 2,500m of shallow air-core drilling to confirm the extents of a known Kaolinite - Halloysite occurrence. The initial phase of drilling will be completed utilizing existing farm and fence-line tracks, with a second phase of infill drilling planned for early in the new year (2021). The Company has additional capacity within the existing approvals to extend the drilling campaign as required. Composite samples will be sent to laboratories in Perth and Adelaide where they will undergo detailed test work including; brightness testing, definitive clay mineral species quantification via a combination of X-Ray Diffraction ("XRD") and spectral scanning, along with other elemental analysis via X-Ray Florence. Announcement • Nov 02
Latin Resources Limited Appoints Pablo Tarantini as Non-Executive Director Latin Resources Limited announced the appointment of Mr. Pablo Tarantini as a Non-Executive Director, with immediate effect. Mr. Tarantini has accumulated a broad professional experience in the mining industry. For two years, he has served as Executive Director of the Argentinian Bureau of Investment and International Trade, coordinating investment initiatives, and contributing with his vast experience in several industries and countries. He has served as President and Executive Director of SAPISA and Minera Don Nicolás, an Argentinian private fund and one of its investments in the mining sector, respectively. Announcement • Oct 29
Latin Resources Limited announced that it expects to receive CAD 0.501 million in funding from Integra Capital S.A. Latin Resources Limited (ASX:LRS) announced a private placement of 100,200,000 common shares at an issue price of AUD 0.005 per share for gross proceeds of AUD 501,000 on October 28, 2020. The transaction will involve participation from Integra Capital S.A., through its affiliate Jose Luis Manzano. As part of the transaction, the company must also issue the investor one free attached listed option for every one share issued, exercisable at AUD 0.012 on or before December 31, 2022. As part of the transaction, the investor acquired 10% stake in the company. All shares issued in the transaction will be subject to a twelve month hold period. The transaction is expected to close on October 30, 2020. Announcement • Oct 07
Latin Resources Limited Provides Noombenberry Halloysite Kaolin Project Update Latin Resources Limited provided the following update on its various projects and ongoing exploration activities at its Noombenberry Halloysite Kaolin Project (" NHKP" or "Noombenberry") in WA. PROJECTS UPDATE: Noombenberry Halloysite Kaolin Project, WA: Land access agreements with key landholders have now been signed, providing for commencement of Latin's maiden systematic drilling campaign at Noombenberry, located approximately 300km to the east of Perth, Western Australia. The Company plans to complete a systematic first pass, shallow air-core drilling program at the NHKP. The aim of the drilling, which will comprise approximately 200m spaced vertical, shallow (>50m) air- core drill holes, is to ascertain the extent and material characteristics of the Halloysite mineralisation within the project area. Pending receipt of final Program of Work ("POW") approvals from the WA Department of Mines, Industry Regulation and Safety ("DMIRS"), Latin anticipates undertaking this maiden air core exploration drilling in the current quarter. Analysis of surface samples collected as part of a reconnaissance mapping exercise in late 2019 have returned very encouraging results, with one site, "Location 4" returning results of 38.9% Kaolinite, 15% Halloysite and 31.8% K-feldspar from the 45-180 micron fraction. These surface sample grades provide encouragement for the potential for high grade halloysite kaolin at Noombenberry, which has a higher market value for broad industrial applications than the more commonly occurring kaolin without the presence of halloysite, which has a lower value market application for paper product manufacture. These samples were previously reported after Scanning Electron Microscopy ("SEM"), analysis by First Test Minerals ("FTM"), identified halloysite occurrence within the kaolinite. FTM have been established in kaolin mineral analysis for over 30 years. Noombenberry, which also hosts kaolin, presents a particularly compelling opportunity for Latin with halloysite being a globally scarce commodity with strong demand drivers. The main markets for Halloysite are ceramics, batteries and super capacitors, the construction industry and the petroleum industry as a catalyst for fluid catalytic cracking. There are also emerging markets developing such as nanotube technologies and cancer therapeutics. Potential low-cost operation The 117 square kilometre project is less than 300 kilometres east of Perth and covers two contiguous granted tenements, E77/2622 and E77/2624 an one new tenement application (E77/2719). All services required for a potential low-cost mining operation are in close proximity with minimal ground disturbance required, while Fremantle Port is easily accessible via the Great Eastern Highway. The company believes there is a potential opportunity once a resource is defined to move the project into a feasibility study then production on the back of positive results from drilling. The price of both Kaolin and Halloysite has been rising with commercial grade kaolin selling for up to AUD 600 per tonne and high grade halloysite selling for up to AUD 4,000 per tonne. The objective of the company is to complete drilling in the December quarter along with assay results then define a JORC resource in March Quarter of 2021. Announcement • Oct 04
Latin Resources Limited Announces DD on Argentina Lithium Projects with Integra Approved Latin Resources Limited announced that Integra Capital S.A. have completed their Due Diligence and will enter into a transformational joint venture agreement on the Company's Catamarca lithium Pegmatite projects. The agreement underpins the strategic approach by Latin in identifying, acquiring and advancing large-scale land positions of highly prospective mineral projects to attract joint venture partners. The signing of the final Joint Venture Agreement is intended to be completed in October. Following completion, Integra will take a 10% placement in Latin Resources. Integra will spend up to USD 1 million (AUD 1.4 million) under a Joint Venture ("JV") which will underpin an aggressive exploration program on the Catamarca concessions, with the initial aim of delivering a maiden JORC resource. Following the release of a maiden JORC resource on the projects, the Joint Venture focus will turn to project development, including feasibility, engineering and metallurgy studies to produce a lithium spodumene concentrate. Latin has already developed a high-level scoping study with consulting engineers Primero Group for development of the Argentinian lithium assets. Under the JV, Latin will be free-carried through initial exploration with financing for the construction of the processing plant to be in line with percentage ownership between Integra and Latin of the project partnership at the time of the Final Investment Decision.