Tillkännagivande • Jun 12

Lithium Africa Corp Provides Update on Activities At Its Springbok Project

Lithium Africa Corp. acquired the Springbok Project shortly after its go-public transaction. The 1,675 km2 Springbok Project includes a past-producing lithium pegmatite mine ("Norrabees") and its associated stockpile, located within the project's 5-hectare mining permit. The asset was selected based on three attributes aligned with the Company’s strategic goals: A previously unrecognized pegmatite district (>50 km long pegmatite field) with 40 known spodumene-bearing pegmatites; only two have been historically drilled. Fully permitted small-mine starter resource available for contract mining and near-term revenue. The potential to monetize the existing 30,000 tonne stockpile at the Springbok Norrabees mine site. A 1,500-meter diamond plus 2,000-meter reverse circulation drilling campaign planned to commence in July 2026 will target a new mineral resource at Norrabees, incorporating new structural mapping that has revised the interpretation of Norrabees pegmatite dip direction and identified a new spodumene-bearing surface extension of mineralization where previous intercepts include 1.09% Li2O over 32.7m. Stockpile resampling program complete with assay results expected in the coming weeks, supporting active due diligence by multiple counterparties on the proposed stockpile sale. Wholly-owned South African subsidiary, Springbok Lithium Pty Ltd, incorporated to operate the project, streamlining in-country governance and execution. Camp upgrades on track for completion by July 2026 to support drill program. Section 11 consent expected in the coming weeks. Two near-term catalysts are now approaching: the commencement of the 3,500 m drill program (1,500-meter diamond drill and 2,000 reverse circulation) at Norrabees in July 2026, and the conclusion of the resampling and sale process for the project’s existing spodumene stockpile. The Company has selected Van Zyl Drilling as its drilling contractor for a planned 1,500-meter diamond and 2,000 m reverse circulation drill program at Norrabees, located within the existing Mining Permit area. Drilling is expected to commence upon completion of camp upgrades, targeting an early July 2026 start. The program is designed to test the Norrabees I and Norrabees II pegmatites, together with a newly identified spodumene-bearing occurrences along strike. The strike extension was identified during detailed structural mapping completed in partnership with Stellenbosch University, which has materially advanced the Company’s structural understanding of the Norrabees system. The work indicates that the Norrabees pegmatite is north-dipping, contrary to the south-dipping orientation contemplated by the previous operator. The Company intends for the drilling program to support the definition of a new mineral resource at Norrabees; the historical resource on the project was completed without detailed structural geological mapping. A topographic survey of the Norrabees area was completed in late May 2026 to support drill pad planning and forward resource modeling. A mineral resource estimate was reported in the technical report prepared for Moonbound Mining Ltd. (now Cape Lithium Corp.) titled NI 43-101 Technical Report on The Norrabees I Pegmatite, South Africa. Mineral Resource Estimate dated January 17, 2024 prepared by Dr. Johan Hattingh of Creo Design (Pty) Ltd. The 2024 Technical Report includes an inferred mineral resource of: 41,420 tonnes at 1.005% Li2O for the in-situ pegmatite (0.4% Li2O cut-off grade; specific gravity used in the estimate reported as 2.66 g/cm³), and 30,259 tonnes at 1.61% Li2O for the stockpile (zero cut-off grade), for a combined total of 71,679 tonnes at 1.27% Li2O (all Inferred). The Company is not aware of any more recent estimates or data available to it in respect of the Norrabees deposit or the Springbok Project, other than the exploration work being undertaken by the Company described in this news release. The historical resource estimate is subject to all of the assumptions, qualifications and procedures set out in the 2024 Technical Report. The historical resource was classified as an inferred estimate and was based on a limited drill data set (10 diamond drillholes totaling 321.77m) and estimated with a 0.4% cut-off grade. The Company considers this historical data to be relevant as the Company will use this data as a guide to plan ongoing exploration programs. The Company continues to advance the potential sale of its existing 30,000 tonne stockpile at the Springbok Norrabees mine site. Multiple counterparties are engaged in active due diligence, spanning trading houses and strategic industry participants. A detailed stockpile resampling program has been materially completed for shipment to an internationally accredited laboratory for assay. The program is intended to provide prospective purchasers with a current, statistically robust dataset of grades and to support a competitive process. The Company expects assay results in the coming weeks and will provide a further update at the appropriate time. Beyond the Mining Permit area, the Company has an ongoing mapping campaign across the wider Prospecting Right, supported by remote sensing analysis and pegmatite fractionation studies. The work is focused on identifying and prioritizing follow-up drill targets across the broader project area, building a pipeline of opportunities beyond Norrabees to prove up the potential of the district, which the Company believes could be analogous to the Eastern Brazilian Pegmatite Province. The Company has incorporated Springbok Lithium Pty Ltd, a wholly-owned South African subsidiary, to operate the Springbok Project. Upgrades to the on-site exploration camp are underway in support of the upcoming drill program and an expanded team presence. The works include reconfiguration of accommodation to host approximately 18 personnel, conversion of a container into an on-site pXRF and pLIBS laboratory and core-logging facility, installation of solar power with backup generation, and refurbishment of the existing water well. The upgraded camp is expected to be operational by early July 2026. The Company hopes and expects that the consent required to enable it to formally complete its acquisition of the majority shareholding (70%) in Namli under section 11 of the South African Mineral and Petroleum Resources Development Act, 28 of 2002 (as amended) will be provided in coming weeks, upon which the necessary legal formalities for completion of the share transfer will be undertaken without delay. The Company has made key hires integral to the success of the project from the local community.

VD-lön i procent	n/a
Anställning som VD	no data
Ägande av VD	0.008%
Ledningens genomsnittliga anställningstid	less than a year
Styrelsens genomsnittliga mandatperiod	less than a year

Namn	Position	Anställning	Kompensation	Ägarskap
Carl Esprey	Executive Chair	no data	inga uppgifter	0.26% $ 74.8k
Thomas Benson	Member of Advisory board	no data	inga uppgifter	0.0083% $ 2.4k
Jamie Robinson	CFO & Corporate Secretary	less than a year	inga uppgifter	0.0022% $ 648.3
Chris O'Connor	General Counsel	no data	inga uppgifter	0.028% $ 8.2k
Rachel Hampton	Vice President of Exploration	less than a year	inga uppgifter	inga uppgifter
Jeroen Duijvenbode	Development Geologist	no data	inga uppgifter	inga uppgifter

Namn	Position	Anställning	Kompensation	Ägarskap
Carl Esprey	Executive Chair	no data	inga uppgifter	0.26% $ 74.8k
Thomas Benson	Member of Advisory board	less than a year	inga uppgifter	0.0083% $ 2.4k
Blake Hylands	Director	less than a year	inga uppgifter	inga uppgifter
Robert Eckford	Director	less than a year	inga uppgifter	0.34% $ 101.0k
Mamadou Coulibaly	Director	less than a year	inga uppgifter	5.1% $ 1.5m
Toluwalase Seriki	Non-Executive Director	less than a year	inga uppgifter	inga uppgifter

Uppgifter	Senast uppdaterad (UTC-tid)
Analys av företag	2026/07/16 11:34
Aktiekurs vid dagens slut	2026/07/16 00:00
Intäkter	2026/03/31
Årlig intjäning	2025/12/31

Paket	Uppgifter	Tidsram	Exempel US-källa
Företagets finansiella ställning	10 år	Resultaträkning Kassaflödesanalys Balansräkning	SEC Form 10-K SEC Form 10-Q
Analytikernas konsensusuppskattningar	+3 år	Prognos för finansiella poster Analytikernas prismål	Rapporter från analytiker Blue Matrix
Marknadspriser	30 år	Aktiekurser Utdelningar, splittar och åtgärder	ICE Marknadsdata SEC Form S-1
Ägarskap	10 år	Största aktieägare Insiderhandel	SEC Formulär 4 SEC Formulär 13D
Förvaltning	10 år	Ledningsgrupp Styrelse och verkställande direktörer	SEC Form 10-K SEC Form DEF 14A
Viktiga utvecklingstendenser	10 år	Företagsmeddelanden	SEC Formulär 8-K

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Recent updates

Lithium Africa Corp. Announces That Robert Eckford Will Not Stand for Re-Election to the Board

Lithium Africa Corp. Announces CEO Changes, Effective July 1, 2026

Tyron Breytenbach to Step Down as Director of Lithium Africa Corp., Effective July 1, 2026

Lithium Africa Corp Provides Update on Activities At Its Springbok Project

Lithium Africa Corp., Annual General Meeting, Aug 21, 2026

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