Announcement • Nov 19
Tantalex Lithium Resources Corp. announced that it has received CAD 1.894725 million in funding On November 18, 2025, Tantalex Lithium Resources Corp. closed the non-brokered transaction. The company issued 126,315,000 common shares at an issue price of CAD 0.015 for gross proceeds of CAD 1,894,725. The transaction includes participation from individual investor, Simon Collins. The common shares will be subject to a hold period of four months and a day from the closing date. The corporation did not pay any finders fees in connection with the completion of the private placement. The completion of the private placement remains subject to the receipt of all requisite approvals, including the final acceptance of the Exchange. Simon Collins acquired 56,140,000 common shares (total consideration CAD 842,100) pursuant to the private placement and now beneficially owns and has control of 187,344,675 common shares of the corporation, as well as restricted stock units to acquire a further 700,000 common shares, which represents approximately 18.13% on a non-diluted basis and 18.19% on a partially diluted basis. Prior to the private placement, Collins held 131,204,675 common shares and 700,000 restricted stock units to acquire a further 700,000 common shares, which represented 14.47% on a non-diluted basis and 14.53% on a partially diluted basis. Announcement • Sep 24
Tantalex Lithium Resources Corp. announced that it expects to receive CAD 3.49291 million in funding Tantalex Lithium Resources Corp announced a private placement to issue 232,860,667 common shares at a price of CAD 0.015 per share for aggregate gross proceeds of CAD 3,492,910.005 on September 23, 2025. The common shares issued in connection with the offering will be subject to a hold period of four months and one day from the closing date of the offering. Certain insiders of the company may acquire common shares pursuant to the private placement. Any participation by insiders in the private placement would constitute a related party transaction, as defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. New Risk • Apr 03
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.2m (US$9.21m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (30% average weekly change). Negative equity (-CA$27m). Earnings have declined by 23% per year over the past 5 years. Revenue is less than US$1m (CA$505k revenue, or US$353k). Market cap is less than US$10m (CA$13.2m market cap, or US$9.21m). Minor Risk Shareholders have been diluted in the past year (17% increase in shares outstanding). New Risk • Jan 17
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 31% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. 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 (-CA$6.8m free cash flow). Share price has been highly volatile over the past 3 months (44% average weekly change). Negative equity (-CA$24m). Earnings have declined by 28% per year over the past 5 years. Shareholders have been substantially diluted in the past year (31% increase in shares outstanding). Revenue is less than US$1m (CA$502k revenue, or US$348k). Minor Risk Market cap is less than US$100m (CA$16.0m market cap, or US$11.1m). New Risk • Dec 29
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$12.0m (US$8.31m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. 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 (-CA$6.8m free cash flow). Share price has been highly volatile over the past 3 months (50% average weekly change). Negative equity (-CA$24m). Earnings have declined by 28% per year over the past 5 years. Revenue is less than US$1m (CA$502k revenue, or US$348k). Market cap is less than US$10m (CA$12.0m market cap, or US$8.31m). Minor Risk Shareholders have been diluted in the past year (31% increase in shares outstanding). New Risk • Oct 11
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.0m (US$9.41m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (43% average weekly change). Negative equity (-CA$25m). Earnings have declined by 31% per year over the past 5 years. Revenue is less than US$1m (CA$379k revenue, or US$275k). Market cap is less than US$10m (CA$13.0m market cap, or US$9.41m). Minor Risk Shareholders have been diluted in the past year (42% increase in shares outstanding). Announcement • Sep 02
Tantalex Lithium Resources Corp., Annual General Meeting, Oct 28, 2024 Tantalex Lithium Resources Corp., Annual General Meeting, Oct 28, 2024. New Risk • Aug 29
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 52% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Negative equity (-CA$25m). Earnings have declined by 31% per year over the past 5 years. Shareholders have been substantially diluted in the past year (52% increase in shares outstanding). Revenue is less than US$1m (CA$379k revenue, or US$282k). Minor Risk Market cap is less than US$100m (CA$21.6m market cap, or US$16.0m). Announcement • Aug 07
Tantalex Lithium Resources Corp. announced that it expects to receive CAD 4.150526 million in funding from Afrimet Resources AG Tantalex Lithium Resources Corp. announced a non-brokered private placement of up to 118,586,450 common shares at a price of CAD 0.035 per common share for gross proceeds of up to CAD 4,150,525.75 on August 6, 2024. The transaction will include participation from certain insiders of the company, including Simon Collins, director of the company; and returning investor Afrimet Resources AG. There will be no finders’ fees paid on the private placement. All securities issued pursuant to the private placement will be subject to a four-month-and-one day statutory hold period in accordance with applicable securities law. Board Change • Aug 02
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 Director Simon Collins was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Jun 27
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 50% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (28% average weekly change). Negative equity (-CA$26m). Earnings have declined by 31% per year over the past 5 years. Shareholders have been substantially diluted in the past year (50% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$35.5m market cap, or US$25.9m). Announcement • Apr 30
Tantalex Lithium Resources Corp. announced that it expects to receive $2.999985 million in funding Tantalex Lithium Resources Corp. announced a a non-brokered private placement consisting of approximately 117,090,857 common shares at a price of CAD 0.035 ($0.025621) per share for the gross proceeds of CAD 4,098,179.995 ($2,999,984.847197) on April 29, 2024. The number of Common Shares to be issued is subject to change depending on the foreign exchange rate of the US currency to Canadian currency to be determined on the closing date. The Corporation may pay finder's fees on a portion of the Private Placement, subject to compliance with the policies of the Canadian Securities Exchange and applicable securities legislation. Certain insiders of the Corporation, including Simon Collins, director, may acquire Common Shares in the Private Placement. All securities issued pursuant to the Private Placement will be subject to a four-month-and-one day statutory hold period in accordance with applicable securities law. New Risk • Jan 30
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: -CA$11m 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 (-CA$11m free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Negative equity (-CA$26m). Earnings have declined by 31% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (CA$30.4m market cap, or US$22.7m). Announcement • Jan 27
Tantalex Lithium Resources Corp. Announces First Tin and Tantaleum Concentrates Production Ready for Export Tantalex Lithium Resources Corp. announced that its TiTan tin and tantalum alluvial plant has now produced its first batch of tin and tantalum concentrates ready for export. A first batch of 10 tons of exportable and high grade industrial and fully traceable tin concentrates (SnO2) has now been fully processed in Manono. Additionally, 2.5 tons of tantalum concentrates (Ta2O5) have also been produced. Production from TiTan is fully traceable and very much sought after due to its strict compliance with the RMI principles for responsible sourcing of critical materials. All production from TiTan is sold through an offtake agreement with AfriMet Resources Ag ("AfriMet") as announced in the Company's news release dated January 24th, 2023. Continuous optimization measures are ongoing at site to reach optimal production capacity. The plant is currently running approximately 50t/h for an average of 8 hours per day. The objective within the next 3 months is to run the plant at 130 t/h, 16 hours per day. measures currently underway to reach this goal are the shipping of a new scrubber trommel and an increase in the water supply to the plant. Announcement • Oct 26
Tantalex Lithium Resources Corp. Files NI 43-101 Preliminary Economic Assessment Report for Manono Lithium Tailings Project Tantalex Lithium Resources Corp. reported that it has filed its NI 43-101 Preliminary Economic Assessment (PEA) Report for the Manono Lithium Tailings Project, Manono, Democratic Republic of Congo, with an effective date of October 6th, 2023 (the Mineral Resource Report). As highlighted on the news release of October 6, 2023, the results of the PEA are compelling, and the Company Board has recommended the Project to proceed to a Feasibility Study. Key PEA Highlights: Excellent project economics and financial returns: Robust pre-tax NPV10% of approximately USD 764 million and 87.4% IRR on a nominal basis, and a pre-tax NPV 10% of approximately USD 638 million and 82.3% IRR on a real basis. Rapid payback of 1 year after first production using a Life of Mine spodumene concentrate price of USD 2,800/t SC5.5 (FOB, Africa) as forecast by Fastmarkets, an internationally recognized price reporting agency. Project Capital Cost Estimate (CAPEX) of USD 147,7 million including contingencies, Life-of-Mine (LOM) of 6 years with an estimated annual production of 112,000 t of spodumene concentrate. Low risk plant operation and tailings reclamation: Ready to use tailings dump resources to feed beneficiation plant with minimum cost of mining, crushing, grinding, and processing. Process plant nameplate capacity is 1.26Mtpa of run-of-mine (ROM) ore based on robust flowsheet using learnings from other lithium producers. A number of opportunities have been identified to improve capital and operating costs and plant capacity. The exploration program is being finalized with a focus on increasing indicated resources and extending life of project. The PEA was prepared by Sedgman Novopro of Montreal, Canada with Mineral Resource and Mining contributions from MSA Group in accordance with National instrument 43-101, Standards of Disclosure for Mineral Projects (NI 43-101). New Risk • Oct 06
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 Canadian stocks, typically moving 18% 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 (18% average weekly change). Negative equity (-CA$24m). Earnings have declined by 34% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (18% increase in shares outstanding). Market cap is less than US$100m (CA$57.7m market cap, or US$42.3m). Announcement • Sep 24
Tantalex Lithium Resources Corp. announced that it has received CAD 1.30049 million in funding On September 22, 2023, Tantalex Lithium Resources Corp. closed the transaction. The company issued 1,818,182 common shares at a price of CAD 0.11 per share for the gross proceeds of CAD 200,000.02 in its final tranche. Announcement • Aug 29
Tantalex Lithium Resources Corp. announced that it has received CAD 1.10049 million in funding On August 28, 2023, Tantalex Lithium Resources Corp. closed the transaction. The company amended the terms of the transaction and issued 3,537,182 common shares at a price of CAD 0.11 per share for gross proceeds of CAD 389,090.02 in its final tranche. New Risk • Jul 26
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates 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. It also 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. Currently, the following risks have been identified for the company: Major Risks Negative equity (-CA$20m). Earnings have declined by 38% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (4.8% increase in shares outstanding). Market cap is less than US$100m (CA$56.5m market cap, or US$42.8m). New Risk • Jul 14
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.7% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Negative equity (-CA$20m). Earnings have declined by 38% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (3.7% increase in shares outstanding). Market cap is less than US$100m (CA$61.5m market cap, or US$46.9m). Announcement • Jun 30
Tantalex Lithium Resources Corp. announced that it expects to receive CAD 1.709649 million in funding Tantalex Lithium Resources Corp. announced a non-brokered private placement of approximately 15,542,264 common shares at a price of CAD 0.11 per share for gross proceeds of up to CAD 1, 709,649 ($1,300,000) on June 29, 2023. Certain insiders of the corporation may acquire shares in the transaction. The transaction is expected to close on or about July 7, 2023, or any other date the corporation determines. The corporation may pay finder’s fees on a portion of the transaction, subject to compliance with the policies of the Canadian Securities Exchange and applicable securities legislation. All securities issued pursuant to the transaction will be subject to a four-month-and-one day statutory hold period in accordance with applicable securities law. Announcement • Jun 20
Tantalex Lithium Resources Corp., Annual General Meeting, Aug 02, 2023 Tantalex Lithium Resources Corp., Annual General Meeting, Aug 02, 2023. Recent Insider Transactions • Mar 01
Director recently bought CA$60k worth of stock On the 24th of February, Simon Collins bought around 500k shares on-market at roughly CA$0.12 per share. This transaction amounted to 6.1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth CA$84k. Insiders have collectively bought CA$535k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Feb 13
Director recently bought CA$84k worth of stock On the 10th of February, Simon Collins bought around 700k shares on-market at roughly CA$0.12 per share. This transaction amounted to 10% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$370k more in shares than they have sold in the last 12 months. Announcement • Dec 15
United Cominiere SAS Started Exploration Drilling on the Pegmatite Corridor Which Is Immediately Downstrike from the World's Largest Undeveloped Hard Rock Lithium Resource Tantalex announced that its 70% owned DRC subsidiary United Cominiere SAS has started exploration drilling on the Pegmatite Corridor which is immediately downstrike from the world's largest undeveloped hard rock lithium resource. The TiTan project: The Company would also like to update it's shareholders on the progress of the TiTan plant construction which remains on schedule for a start of operations in March 2023. The access road upgrade between Manono and the Titan plant location has been completed and the teams are now busy with preparing foundation work. The Titan plant is Projected to produce approximately 1'400 dmt of Tin concentrate and 220 dmt of Tantalum concentrate per annum. Manono Lithium Tailings Project The Company would also like to announce that it has appointed Novopro Projects of Montreal to conduct the Preliminary Economic Assessment (PEA) for the Phase 1 of the Manono Lithium Tailings project. The objective of the Company is to focus on bringing dumps K, G and I in the southwest of the concession into production as early as possible. Further to the positive results received from the HLS testing, the Company has proceeded with additional metallurgical testworks for material from Dumps K and G to determine the optimal process flow sheet for the production of 6% Li2O Spodumene Concentrate (SC6). Board Change • Nov 16
No independent directors There are 6 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 6 new directors. 2 experienced directors. No highly experienced directors. No independent directors (7 non-independent directors). Director Luisa de Fatima Moreno is the most experienced director on the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Oct 21
Tantalex Lithium Resources Corp. announced that it has received CAD 1.218424 million in funding On October 20, 2022, Tantalex Lithium Resources Corp. closed the transaction. The company has issued 8,717,800 common shares for proceeds of CAD 697,424 in its second and final tranche closing. Michel Lebeuf, the Corporate Secretary, has subscribed for 342,050 shares in the final tranche. Announcement • Sep 27
Tantalex Lithium Resources Corp. Announces That the Final Assay Results Received from It's 2022 Infill Drilling Program on the K Dump Has Returned an Average Grade 0,946% Li2O from Surface Tantalex Lithium Resources Corp. announced that the final assay results received from it's 2022 infill drilling program on the K dump has returned an average grade 0,946% Li2O from surface. Manono Tailings K Dump: A total of 2117 metres from 156 aircore drillholes has been completed on nominal 50m centres to define a measured category for the Mineral Resource Estimate currently underway. On September 6, 2022 the company announced the results of the assays received from the first 41 drillholes. The K dump is composed of two different sections; a steeply stacked section to the northeast that varies from 47m to 21m thick with an average thickness of 38m, and a gently domed 500m x 600m terrace section with an average thickness of 11m with depths generally 15m to 20m in the centre shallowing to 3-5m at the edges. In drill holes MDA211 to MDA 325 a total of 22 holes were drilled to more than 15 metres depth. All 22holes deeper than 15m returned mineralisation from the surface. Announcement • Sep 14
Tantalex Lithium Announces Results of the Metallurgical Testwork on A 331 Kg Composite Bulk Sample Collected from the K-Dump At Manono Reclamation Project Located in the Tanganyika Province of the Democratic Republic of Congo Tantalex Lithium Resources Corp. announced the results of the metallurgical testwork on a 331 kg composite bulk sample (sub sample of the approx. 2 tonne sample taken from drill holes locations MDC047, MDC056 and MDC 064) collected from the K-dump at the Manono Reclamation Project located in the Tanganyika province of the Democratic Republic of the Congo ("DRC"). Mineralogical analysis indicated that nearly all the lithium is contained in Spodumene. It was further determined that Cassiterite is the only tin bearing mineral and in the case of tantalum the overwhelming majority occurs as Tantalite with low concentrations of Tapiolite. The HLS tests have resulted in 6+% Li2O spodumene concentrates at high lithium recoveries exceeding 60% and an iron content of approximately 1.3% Fe2O3 without conducting any magnetic separation on the concentrate produced. Although HLS results are only an indication of a DMS circuit's performance in operation, the results indicate that DMS will be applicable to the Project's flowsheet as a primary driver for lithium recovery in the coarse fraction. Additional conventional technologies will be tested to establish the optimal beneficiation of the -0.5mm fraction. A primary reason for the strong HLS results is the coarse-grained nature of the spodumene at K-dump which allows for strong liberation of the spodumene with no crushing required as the in-situ material is 99% -5 mm. What this means for the company is that the coarse fraction spodumene can be processed using the most conventional mineral processing technique in the industry without any additional crushing/grinding required. The cut density can also be lowered from 2.95 t/m3 that were utilised in the testwork to improve recoveries while maintaining SC6 grade. Announcement • Sep 07
Tantalex Lithium Resources Corp. Announces Assay Results Received to Date from It's 2117M Infill Drilling Program Tantalex Lithium Resources Corp. announced that assay results received to date from it's 2117m infill drilling program on the K dump has returned consistent high grade Li2O results with all drill holes returning Li2O intercepts between 0,565% and 1,018% Li20 from surface over entire length of drillholes. Further to assay results received on maiden 10,000m drill program, an additional drill program was conducted in Second Quarter 2022 targeting the K and G dumps. On the K dump, a total of 2117 metres from 156 aircore drillholes was completed on nominal 50m centres to define a measured category for the Mineral Resource Estimate currently underway. Drillholes were sampled at 1 metre intervals with 3m composite samples submitted to SGS Lab, Randfontein RSA, for multi-element assay by GE_IMS90A50 method. The K dump is composed of two different sections; 1) a steeply stacked section to the northeast that varies from 47m to 21m thick with an average thickness of 38m, and 2) a gently domed 500m x 600m terrace section with an average thickness of 11m with depths generally 15m to 20m in the centre shallowing to 3-5m at the edges. From the assays returned to date (figure 1 yellow dots) 24 holes were drilled to more than 15 metres. All 24 holes deeper than 15m returned mineralisation from the surface. The 17 holes in the stacked material have a global average of 0.625% LiO2. The 7 holes in the terrace have a global average of 0.928% LiO2. From the volume estimation report that Tantalex conducted in Fourth Quarter 2021, the estimated total volume of the K dump is 3 512 532m³. With an approximate density of 1,5 g/cm³ this represents a total estimated volume of 5 268 797 metric tons. Announcement • Jul 09
Tantalex Lithium Resources Corp. announced that it has received $1.231784 million in funding Tantalex Resources Corporation announced a private placement of unsecured convertible debentures for $1,231,784.08 principal amount on July 8, 2022. The convertible debenture has a one-year term and will mature on July 10, 2023. The convertible debenture bears interest at 10% per annum, payable at any time prior to the maturity date in cash or common shares of the corporation, at the option of the corporation. At any time during the term, may elect to convert the outstanding principal net amount, or any portion thereof, into common shares at a conversion price of $0.10 per share. The convertible debenture and any common shares issuable upon conversion thereof will be subject to a statutory hold period lasting four months and one day following the closing date of the convertible debenture. Board Change • Apr 27
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. 2 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). Director Luisa de Fatima Moreno is the most experienced director on the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Announcement • Apr 12
Tantalex Resources Corporation Provides Additional Assay Results Received from Drill Holes in the K Dump Tantalex Resources Corporation provided additional assay results received from drill holes in the K dump. Initial assay results from the K dump had indicated interesting intercepts where 7 of the 8 holes assayed averaged 1.04% Li20 from surface to 7m depth. Further to these results, Tantalex sent the remaining 3m composite samples it had stored from the K dump for assaying. These samples were taken from: 5 aircore holes (drilled to depths between 12m and 21m), 14 additional shallow Cobra holes (maximum depths of 7m from surface). Lithium aircore intersections results: MDA100 15m @ 1.183% Li2O from surface, MDA101 15m @ 1.006% Li2O from surface, MDA102 15m @ 1.018% Li2O from surface, MDA103 12m @ 0.856% Li2O from surface, MDA104 21m @ 0.763% Li2O from surface. Average Lithium content from the 14 cobra hole drillholes assayed at 0,965% Li2O. These results therefore confirm that the previously reported assay results from the K dump show grade continuity throughout the K dump. From the volume estimation report that Tantalex conducted in Fourth Quarter 2021, the estimated total volume of the K dump is 3 512 532m³. With an approximate density of 1,5 g/cm³ this equals a total estimated volume of 5 268 797 metric tons. Exploration is currently ongoing on the Pegmatite Corridor and drilling is planned to commence in the next few weeks. Tantalex will advise as soon as a firm date has been confirmed by drilling contractor. Announcement • Feb 24
Tantalex Resources Corporation Provides Overview of It's Exploration Activities for 2022 Tantalex Resources provided an update on its development and exploration activities in Manono, Democratic Republic of Congo. For calendar year 2022, Tantalex expects to generate a steady stream of news from its near-term production assets and greenfield exploration concessions, namely: MANONO LITHIUM & TIN TAILINGS PROJECT: Further to the company's initial assay results received recently from PER 13698, work in first quarter and second quarter will focus on the additional preparation and assaying of samples from the 9,279m of aircore drilling completed late in 2021 and on collecting bulk samples (approximately 9 tonnes from 3 dumps) for metallurgical testwork. Tantalex has developed a process flowsheet to separate the Li (spodumene) from the tin and tantalum without the use of a dense media separation (DMS) circuit. Coremet Mineral Processing will perform the proof-of-concept metallurgical testwork at their facilities in South Africa on the proposed process flowsheet developed by Tantalex. Specialist Consultants MSA Group has been appointed to complete a 43-101 Mineral Resource Estimate (MRE) based on the aircore drilling. The MRE and the results of the metallurgical testwork are expected in second quarter after which a Preliminary Economic Assessment will be immediately undertaken to determine the projects optimal mining and processing scenario. With the exploitation permit already in place, construction and mining could commence quickly thereafter. LUBULE TIN & TANTALUM ALLUVIAL PROJECT: Tantalex owns a 70% stake in the mining concessions PR12447 & 12448 with state company Cominiere SA owning the remaining 30%. Exploration work in 2020/21 has indicated that the 9km long Lubule River catchment area within PR12447 has potential to support a semi-industrial alluvial Sn-Ta mine. During first quarter of this year a PEPM (a small mine exploitation permit) application covering over 3,700 Ha of known mineralised G2 gravels will be lodged. A 750m program of shallow third quarter diamond core drilling is planned for first quarter to further define the grade, thickness, and spatial continuity of the mineralised G2 gravels along the 1,000 metres of prospective paleo channel defined by earlier geophysical work in 2021. Initial exploration and development work performed indicate that this area could host a 130tph gravity plant to process both tin and tantalum concentrate. SOUTHWEST LITHIUM PEGMATITE CORRIDOR EXPLORATION: A distinct 5km wide "pegmatite corridor" defined in the regional aeromagnetics survey extends for over 100km from Manono in the northeast to Mwanza in the southwest. Numerous lithium bearing pegmatites have been identified along this distinct trend. The largest being AVZ's Roche Dure deposit in Manono with a resource of 400Mt @ 1.65% Li2O 715ppm Sn and 34ppm Ta. There are also numerous less continuous subparallel trends within a broad 15km wide zone. TTX controls 25km of this trend within the two permits. Previous diamond drilling by TTX in the northeast of PR12448 identified over 99m accumulated thickness of Li bearing pegmatite veins. During the remainder of first quarter all of the previous work on PR12448 will be reviewed. During second quarter a magnetic drone survey at 50m line spacing is planned to provide high resolution magnetic data to inform geologic modelling and drive exploration targeting to identify areas for follow-up pitting, trenching and shallow RC drilling. Initial work will focus in the northeast of PR12448 over the area of previous diamond drilling. Other known high priority targets on PR12447 include the Kakodi pegmatite and the primary pegmatite mineralisation identified below the alluvial gravels. Deeper diamond drilling to follow up on the shallow drilling is planned for the dry season in third quarter . PUNGWE NORTHERN ZONE EXPLORATION: PR13348 directly north of the Pegmatite Corridor. It was acquired as part of TTX's joint venture agreement Minocom SAS. Initial reconnaissance work has identified some pegmatites bodies in previously excavated trenches. These trenches will be reopened, mapped and sampled to determine the potential to host primary lithium mineralisation. Large parts of the permit are covered by laterite which has the potential to host Sn-Ta mineralisation. During second quarter a full suite of open-source remote sensing data will be acquired and processed to identify potential areas of Li-Sn-Ta mineralisation within the laterite and under shallow cover. The raw unprocessed 400m line spaced aeromagnetic data flow in 2017 as part of the PROMINE project between the DRC and the World Bank will be acquired and reprocessed and interpreted along with the remote sensing data to develop target areas for follow up with a magnetic drone survey at 100m line spacing to provide high resolution magnetic data to inform geologic modelling and drive exploration targeting to identify areas for follow-up pitting, trenching and shallow RC drilling. Follow up trenching pitting and shallow RC drilling of geochemical and geophysical anomalies will commence in third quarter. Announcement • Feb 10
Tantalex Resources Corporation Reports Results from Initial Phase 1 Drilling Assay Results from 5 Dumps At Manono Lithium Tailings Project Tantalex Resources Corporation provided initial phase 1 assay results received from its 10,000m drilling program. Assays were completed by ALS in Ireland. Analysis was done by method ME-ICP82b for lithium and method ME-MS81 for tin and tantalum. Drilling was performed on both the coarser material on the stacked dumps and the associated fine material on the terrace dumps using both aircore and shallow Cobra percussion gouge drilling. Drilling on the coarse stacked dumps was on a nominal 40m x 40m grid spacing and on the fine terrace dumps at 80m centres along 160m spaced lines (figures 1 and 2) Assay results have been received from drill holes on 5 of the main dumps. Four of the dumps, G, H, I and K are from the Kitotolo Sector in the south west. C dump, the fifth dump, is from the Manono Sector in the northeast. Assays are pending from 11 holes on the E dump from the Manono Sector. Samples from the E dump have been in the lab since 25 January with results significantly delayed by COVID-19 staff shortages. The Phase 1 assay program aimed to gain a broad understanding of the grade and continuity of the Li-Sn-Ta distribution within the dumps. The 1,381 assays (includes about 5% QAQC samples) received from the 5 dumps in phase 1 represent only about 15% of the samples collected during the drilling program and have confirmed the widespread presence of significant Li-Sn-Ta within the dumps. Four of the dumps are from the southeast Kitotolo Sector and one dump is from the northeast Manono Sector. Based on these early encouraging results of the combined Li-Sn-Ta a bulk sampling program commenced on 8 February to provide material for proof-of-concept metallurgical testwork for the teams proposed process flowsheet to recover all three metals without using a conventional DMS circuit. This new concept provides significant process cost savings compared to the typical DMS circuit to separate the lithium (spodumene) from the tin and tantalum. Tantalex has retained the services of Coremet Mineral Processing to conduct the mineralogical and metallurgical test work on the bulk samples at their facilities in South Africa. Additionally, Tantalex has retained the services of the MSA Group (Pty) Ltd. (MSA) to complete a 43-101 Compliant Mineral Resource Estimate (`'MRE'') for the Manono Lithium Tailings project. This MRE is expected to be completed by early Quarter 2. Announcement • Feb 02
Tantalex Resources Corporation announced that it has received CAD 0.5 million in funding Tantalex Resources Corporation announced a non-brokered private placement for gross proceeds of CAD 500,000 on February 1, 2022. The offering consists of units and each unit is comprised of one common share at a price of CAD 0.10 and one half transferable common share purchase warrant. Each whole warrant shall entitle the holder thereof to acquire one additional share in the capital of the corporation at a price of CAD 0.15 per warrant share until the date that is twelve months from the closing date, being January 30, 2022. All securities issued pursuant to the offering will be legended with a hold period of four months and one day from the date of issuance. Announcement • Jan 19
Tantalex Resources Corporation announced that it has received CAD 0.5 million in funding Tantalex Resources Corporation announced a non-brokered private placement of 5,000,000 common shares at a price of CAD 0.10 per share for gross proceeds of CAD 500,000 on January 18, 2022. The securities issued are subject to hold period of four months and one day from the date of issuance. The transaction is expected to close on January 30, 2022. Recent Insider Transactions Derivative • Oct 24
CEO, President & Director exercised options to buy CA$475k worth of stock. On the 15th of October, Eric Allard exercised options to buy 5m shares at a strike price of around CA$0.01, costing a total of CA$50k. This transaction amounted to 65% of their direct individual holding at the time of the trade. Since December 2020, Eric's direct individual holding has decreased from 7.80m shares to 7.65m. Company insiders have collectively bought CA$68k more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Sep 15
Tantalex Resources Provides Update on Drilling Aa Manono- Kitotolo Lithium & Tin Tailings Tantalex Resources Corporation confirmed that drilling and mineral resource evaluation studies have commenced. Aircore and Cobra drilling commenced on the H dump terrace on 24 August. To date a total of 821m has been completed in 21 aircore (574m) and 37 shallow Cobra percussion gouge (247m) drill holes. Air core drilling along sections HAL03 and HAL04 done on an 80m x 40m grid at the northwest end of the terrace confirm the dump is at least 39m (MDA015) thick here. The dump thickness 600m to the southwest of Section HAL04 in holes MDA016 to MDA020 is about 20 metres. Three air core drill holes; MDA011; 013 and MDA015 from the thicker part of the dump have been fast tracked for assay. A total of 131 samples have been dispatched to ALS Laboratories for analysis of 52 elements by ME-MS89L method. Results are expected in 5-6 weeks. Drilling on the terrace section of the dump will finish early this week. The drill rig will then move to the +50m thick stacked coarse material dumps. Twenty-one drill holes have been pegged on this section of the dump. The drilling will test about 500m along the axis of the dump. Drilling on the corase gravel of the H dump is estimated to take 2 to 3 weeks. A program of bulk sampling (1m3) from trenches using an excavator is planned to get samples for mineralogical/metallurgical test work. The topographical drone survey equipment has arrived at site and surveying is expected to commence this week. PER13698 covering an area of 57 cu (48km2) contains 11 waste dumps (A-K) and associated terrace tailings deposits derived from the previous mining and processing of the Manono-Kitotolo pegmatite body over a strike length of about 12km. The dumps contain Li-Sn-Ta mineralisation. Lithium, as spodumene, is the main mineral of interest. Announcement • Aug 13
Tantalex Resources Corporation Announces the Commencement of Drilling Works on the Manono-Kitotolo Lithium and Tin Tailings Project Tantalex Resources Corporation announced the commencement of drilling works on the Manono-Kitotolo lithium and tin tailings project, PER 13698. The Exploration Target for this licence is 60MT to 80MT of previously mined material at 0.5% to 1% Li2O and 500ppm to 1000ppm SnO2 (43-101 Technical Report, Manono Tailings Lithium & Tin Project, Nico Scholtz, February 15th, 2019). Although this Exploration Target remains current, an updated version of this 43-101 Technical Report is currently being prepared to reflect the latest transaction with MINOR SARL. Tantalex's work program to define a Mineral Resource Estimate will include conducting a drone topographical survey and carrying out a combination of Aircore/reverse circulation (RC) drilling on the stacked dumps and shallow Cobra percussion gouge (auger) drilling on the terraced tailings dumps. A contract for an initial 5,000 metres of aircore/RC drilling has been signed with Equity Drilling who are already very familiar with the area of Manono. The drilling crew is mobilising to Manono on the 16th August and drilling is expected to commence within 2-3 weeks. A total of 5,000 metres is planned in 139 holes on three dumps in Phase 1. The thickness of the dumps ranges from 10m at the B dump to 72m at the G dump. The average dump thickness is 46m. Drilling on the initial 5,000 metres will commence on the adjacent H and G dumps in the Kitotolo Sector and then move to the C dump in the Manono Sector. Drilling is expected to take 4-6 weeks to complete. Drill holes will be sampled at 1 metre intervals and composited to three metres for geochemical analysis at ALS Laboratory in South Africa. Drilling on the thinner terrace tailings dumps will be primarily with a man portable Cobra percussion gouge drill capable of drilling 7-10m. Tantalex owns two Cobra drilling machines and has its own crew to operate them. No special access roads or pads are required for this drilling. The topographical survey to assess the exact volumes of the dumps will be carried concurrently to the drilling. The initial volume estimates of the Exploration Target were calculated using cross sectional areas defined by hand held GPS surveys to create a DTM and did not include the additional dumps that Tantalex recently acquired from MINOR SARL. Announcement • Feb 24
Tantalex Resources Corporation Appoints Yves Kabongo to Its Board of Directors Tantalex Resources Corporation announced the appointment of Mr. Yves Kabongo to its Board of Directors. Mr. Kabongo will also take on the role of Special Advisor, DRC Government Liaison Affairs. Mr. KABONGO is a Congolese native with strong experience in directorship and management of Canadian, International and Congolese public companies. He previously lived in Canada for 12 years where he studied Mathematics for Commerce at York University in Toronto. Announcement • Feb 19
Tantalex Resources Corporation Enters into Non-Binding Mou Agreement with Ximei Resources (Hong Kong) Limited to Enter into Cooperation Model for Establishing Tantalum Refining Plant in the Manono Region, Tanganyika, in the Democratic Republic of the Congo Tantalex Resources Corporation entered into non-binding MOU Agreement with Ximei Resources (Hong Kong) Limited to enter into cooperation model for establishing Tantalum refining plant in the Manono region, Tanganyika, in the Democratic Republic of the Congo. The Manono area is endowed with cassiterite and coltan which are the primary minerals for the production of tin and tantalum, respectively. A tantalum refining plant would create added value for the Great Lakes region, the communities and the DRC. Such a Plant would be the first on the African continent. The terms of the cooperation between Tantalex and Ximei are based on the following premises: Tantalex will conduct a feasibility study to establish the Plant. Ximei will provide technical expertise in process and plant design as well as technical support with regards to requirement for the Plant, Upon favorable outcome of the Study, Ximei and Tantalex will engage in commercial and investment decisions whereby Tantalex will be responsible to provide the tantalum concentrates and Ximei will obtain up to 50% of its manufactured product, the whole in accordance with an offtake agreement to be negotiated between Ximei and Tantalex in due time. Each of Tantalex and Ximei shall have a period of 90 days from the signature of this MOU to complete its due diligence review of any such matters that each, Tantalex and Ximei may deem appropriate. Announcement • Nov 07
An undisclosed buyer acquired United Materials Congo SARL and United Cominière SAS from Tantalex Resources Corporation (CNSX:TTX). An undisclosed buyer acquired United Materials Congo SARL and United Cominière SAS from Tantalex Resources Corporation (CNSX:TTX) on March 17, 2020. The acquirors retained the rights and titles and assumed all liabilities that remained in these entities, for a nominal amount.
An undisclosed buyer completed the acquisition of United Materials Congo SARL and United Cominière SAS from Tantalex Resources Corporation (CNSX:TTX) on March 17, 2020. Announcement • Aug 01
Tantalex Resources Corporation announced that it has received CAD 1 million in funding from International Cobalt Corp. Tantalex Resources Corporation (CNSX:TTX) announced a private placement of unsecured convertible debentures for gross proceeds of CAD 1,000,000 on November 9, 2018. The transaction included participation from returning investor, International Cobalt Corp. (CNSX:CO). The debentures will mature in one year and will carry an interest of 12% per annum. The debentures are issued at par and are convertible into common shares of the company at the maturity date, being one year from the date of issuance. The principal amount of the debenture is subject to a warrant coverage of up to 50% of the principal amount to which the company is entitled to receive up to 50% of the principal amount of the debenture issued in warrants in the share capital of company, each warrant entitling the company to acquire one common share in the share capital of company at a price of CAD 0.10 per common share for a period of 24 months from the date of issuance