Grant of Mine Operating Permit

08 October 2024

Grant of Mine Operating Permit

Ewoyaa Lithium Project granted final regulatory approval in the permitting process for the Project

Atlantic Lithium Limited (AIM: ALL, ASX: A11, GSE: ALLGH, OTCQX: ALLIF, "Atlantic Lithium" or the "Company"), the Africa-focused lithium exploration and development company targeting the delivery of Ghana's first lithium mine, is pleased to announce that the Minerals Commission of Ghana has issued a Mine Operating Permit in respect of the Company's flagship Ewoyaa Lithium Project ("Ewoyaa" or the "Project").

The Mine Operating Permit serves as the final regulatory approval required by the Company ahead of commencing construction of the Project, comprising the Ewoyaa Lithium Mine and Processing Plant, and represents an important milestone towards reaching a Final Investment Decision.

The Company currently awaits the ratification of the Ewoyaa Mining Lease by Ghana's parliament. The Company understands that parliament will resume sitting on 15 October 2024 and will provide further updates to shareholders as appropriate.

Commenting, Neil Herbert, Executive Chairman of Atlantic Lithium, said: 

"Representing the final regulatory approval required by the Company before we can commence construction, the issuance of the Mine Operating Permit marks a critical milestone in the permitting process for the Ewoyaa Lithium Project.

"With our sights set on achieving first production of lithium in Ghana, we now eagerly await parliamentary ratification of the Ewoyaa Mining Lease. We hope that ratification can occur in the coming sitting, expected to resume on the 15^th of this month, which would set us on the path towards construction and operation of this globally significant lithium project."

Authorised for release by Amanda Harsas, Finance Director and Company Secretary, Atlantic Lithium Limited.

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

For any further information, please contact:

Atlantic Lithium Limited

Neil Herbert (Executive Chairman)

Amanda Harsas (Finance Director and Company Secretary)

Notes to Editors:

About Atlantic Lithium

www.atlanticlithium.com.au

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

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

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

Atlantic Lithium holds a portfolio of lithium projects within 509km² and 771km² of granted and under-application tenure across Ghana and Côte d'Ivoire respectively, which, in addition to the Project, comprises significantly under-explored, highly prospective licences.