Atlantic Lithium Ltd - Pronounced Lithium-in-soil Anomalies

20 October 2025

Pronounced Lithium-in-soil Anomalies
within Agboville and Rubino Licences, Côte d'Ivoire

New spodumene pegmatite occurrences also discovered in the Rubino licence

Atlantic Lithium Limited (AIM: ALL, ASX: A11, GSE: ALLGH, "Atlantic Lithium" or the "Company"), the Africa-focused lithium exploration and development company, is pleased to announce the delineation of impressive lithium-in-soil anomalies in results from Phase 2 and Phase 3 soil sampling completed across the Rubino and Agboville exploration licences in Côte d'Ivoire, which are 100%-owned by the Company's wholly-owned subsidiary Khaleesi Resources SARL ("Khaleesi"). Additional spodumene pegmatite occurrences have also been discovered in float from geological mapping completed over the Rubino licence.

Highlights

-       Impressive lithium-in-soil anomalies, extending over several kilometres, identified from Phase 2 and Phase 3 soil sampling completed over the Company's Rubino and Agboville exploration licences in Côte d'Ivoire.

-       At Rubino, new Phase 3 results extend the lithium-in-soil anomalous zone identified from Phase 2 results (reported previously) to cover an increased area of approximately 6.0km by 2.5km, within which there are several distinct linear trends that warrant immediate ground follow-up evaluation.

-       At Agboville, Phase 2 soil sampling results define a pronounced linear anomaly >5km in length as well as other anomalous linear features, one of which is associated with spodumene pegmatite float discovered by the Company's geologists.

-       Additional spodumene pegmatite occurrences, returning high-grade lithium assays, discovered in rock float from geological mapping completed within the Rubino licence.

-       The latest soil sampling and assay results further indicate the prospectivity of the Company's tenure in the mining-friendly jurisdiction of Côte d'Ivoire, which remains significantly underexplored for lithium.

-       The Company is undertaking low-cost exploration of its Rubino and Agboville licences concurrently to the advancement of the Company's flagship Ewoyaa Lithium Project in Ghana to support its objectives of building a pipeline of projects to support long-term growth.

-       A specialist corporate advisor has been engaged to commence a formal process to source funding options that are non-dilutive to the Company's shareholders to accelerate exploration of the Côte d'Ivoire licences.

Commenting, Keith Muller, Chief Executive Officer of Atlantic Lithium, said:

"The latest results from the Company's ongoing exploration programmes across its 100%-owned Rubino and Agboville licences further underscore the prospectivity of its tenure in Côte d'Ivoire.

"Phase 2 and Phase 3 soil sampling results have delineated pronounced lithium-in-soil anomalies extending over several kilometres across the two licences, with several trends warranting further evaluation.

"At Rubino, the anomalous zone reported previously has been expanded by the latest results to an increased area of approximately 6.0km by 2.5km. Meanwhile, at Agboville, a pronounced linear anomaly >5km in length and several other anomalous linear features of interest have been identified.

"Through mapping and rock-chip sampling, the Company has also discovered several new spodumene pegmatite occurrences in rock float, in addition to the previously reported outcrop, within the Rubino licence. Further mapping has now commenced across both licences to support the evaluation of the anomalies identified in the Phase 2 and 3 soil results and to assist in defining follow-up auger drill programmes.

"The Company believes that its licences in Côte d'Ivoire demonstrate significant value potential through lithium exploration. To be undertaken alongside its advancement of its flagship Ewoyaa Lithium Project in Ghana, the Company has, therefore, commenced a formal process to explore funding options, considering minority, project-level investment or partnerships, to accelerate its exploration of the two licences.

"We look forward to providing further updates in due course."

Figures and Tables referred to in this release can be viewed in the PDF version available via this link:

http://www.rns-pdf.londonstockexchange.com/rns/0000E_1-2025-10-20.pdf

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.

Location

The Agboville exploration licence (PR 0694) covers an area of 397km² and is located in the departments of Agboville and Adzope in Côte d'Ivoire, while the adjacent Rubino exploration licence (PR 0695) covers an area of 374km² in the department of Agboville (refer Figure 1). Both licences are 100%-owned by the Company's wholly-owned Ivorian subsidiary, Khaleesi Resources SARL ("Khaleesi"). The town of Agboville is situated only 80km north of Abidjan, the port and commercial capital of Côte d'Ivoire, and the two licences are well-serviced with existing infrastructure, including excellent paved highways and an operating railway linking Burkina Faso's capital city of Ouagadougou and the port of Abidjan.

Figure 1:         Location of the Agboville and Rubino licences held by the Company's wholly-owned subsidiary Khaleesi in Côte d'Ivoire and existing operational infrastructure.

Soil Sampling

Soil geochemical sampling was undertaken using 100m by 100m spaced grid over the most prospective areas identified by mapping and rock-chip sampling completed by the Company and also over historical mineral occurrences in both the Rubino and Agboville licence areas.

The soil sampling was completed in two sampling phases in each tenement; Phase 2 consisting of 3,235 sample sites (1,594 sites sampled at Agboville and 1,641 sites sampled at Rubino) and Phase 3 consisting of 1,512 sample sites (442 sites sampled at Agboville and 1,070 sites sampled at Rubino), the extent of which are shown in Figures 2 and 3. The total number of soil samples collected within the Rubino Phase 3 grid increased to 1,070 after the geological team was granted permission to sample a tract of agricultural land that had recently changed ownership (refer announcement of 31 July 2025). The Phase 1 soil sampling programme was a baseline soil programme undertaken along selected sections during reconnaissance mapping, where different sample depths and sieve fractions were tested and the results of which help set the best parameters for subsequent grid soil programmes.

The Company herein reports the results of Phase 3 soil sampling completed at Rubino and Phase 2 and Phase 3 soil sampling conducted at Agboville. The Rubino Phase 2 soil results were reported by the Company in the announcement dated 22 May 2025.

Rubino Licence

Newly-received Phase 3 lithium-in-soil results extend the anomalism 3.5km towards the NE from the previously announced Phase 2 soil grid, delineating a pronounced lithium-in-soil anomalous zone extending NE-SW continuously across the surveyed area, extending over an area of approximately 6.0km by 2.5km (refer Figure 2).

Within the anomalous zone, the results delineate a long NNE-SSW orientated linear anomaly, which could be associated with the interpreted lithological contact between metasediment and granodiorite; a similar lithological contact relationship that is observed in the distribution of anomalies from the Phase 2 soil grid. Similar, but less well defined, NNE-SSW to N-S trending soil anomalies are evident in the Rubino Phase 2 soil grid. These may be related to N-S to NNE-SSW orientated structural features concealed by the laterite cover and could also host pegmatite intrusions at depth. Several of the distinct NNE-SSW, N-S and NE-SW linear trends identified in the anomalous zone from the Phase 2 and Phase 3 soil results warrant immediate ground follow-up and ultimately sub-surface evaluation by the exploration team, as outlined in the 'Next Steps' section below.

Figure 2:         Consolidated Rubino Phase 2 and Phase 3 Li (ppm) in soil grid results with spodumene pegmatite discovery sites. Pronounced anomalies are defined by lithium values between 200ppm and a peak value of 806ppm, with values below 85ppm considered a background response and related to the country rock. Refer to Figure 4 for spodumene pegmatite occurrences and associated lithia values.

Agboville Licence

The lithium-in-soil results from the Phase 2 soil grid define a pronounced linear anomaly >5km in length trending NE-SW, which follows the interpreted contact between metasediments to the NW and granodiorite intrusive to the SE (refer Figure 3). Other less well-defined anomalous linear features are developed over the granodiorite, one of which is associated with spodumene pegmatite float discovered by the mapping team, as reported previously (refer announcement of 22 May 2025). The Phase 3 lithium-in-soil geochemical response is more subdued; likely to be related to interpreted metasediment host exhibiting deeper weathering and laterite development and some alluvial cover with rice cultivation invalidating certain survey points.

The NE-SW-orientated lithological contacts in both the Rubino and Agboville licences follow the dominant regional tectonic trend in the Birimian of this part of West Africa, which is NE-SW, and a possible structural displacement across these potentially faulted or sheared contacts could host dilatant zones where pegmatite intrusion could be focused in either the schists of the metasediment or within more competent lithology such as the granodiorite.

Figure 3:         Agboville Phase 2 and 3 Li (ppm) in soil grid results. Prominent lithium soil anomalies are defined by values above 200ppm and a peak value of 698ppm, and values below 85ppm considered a background response associated with regional country rock.

Mapping and rock-chip sampling

Additional geological mapping undertaken by the Company's geologists, continued along reconnaissance traverses and in support of soil sampling and in ground truthing Rubino Phase 2 soil anomalies, has discovered several additional spodumene pegmatite occurrences in the Rubino licence as rock float, with spodumene visually observed in hand specimen despite varying degrees of weathering exhibited.  

Rock-chip samples were collected during mapping and submitted for assay. The elevated assay values of lithium and other elements from these pegmatite rock-chip samples confirm the Company's visual spodumene observations and the prospectivity of the licences (refer Figure 4 and Table 1). Not all pegmatite samples sent for assay returned anomalous assay results. Spodumene has a propensity to degrade in the tropical weathering environment with the lithium leaching out of the mineral even in weak to moderately weathered pegmatite, so weathered visually observed spodumene will not always have corresponding high lithium values in rock-chip assay results.

Figure 4:         Map showing consolidated spodumene pegmatite occurrences within the Rubino licence with associated lithia values from rock-chip assays. Extent of recent Phase 2 and 3 soil sampling grids are also shown.

Table 1:          Highlight rock-chip assay results (values >0.2 Li₂O%, sorted highest to lowest by Li₂O%) from the Rubino licence. Results <0.2 Li₂O% are included in Appendix 1 and a geological map of the licences with rock-chip sample locations marked is included in Appendix 2.

NOTE: Grid references reported in projection UTM, WGS84, Zone 30N.

Figure 5:         a) Photograph of a spodumene pegmatite hand specimen (Sample 110074) discovered in the Rubino exploration licence by the Company's geologists. The photograph shows the broken surface of spodumene pegmatite float grab sample with spodumene crystals 10mm to 30mm in length (outlined in red), estimated to be 25-30% of the surface area of the rock sample. b) Photograph of a spodumene pegmatite hand specimen (Sample 100192) discovered in the Agboville exploration licence by the Company's geologists - previously reported (refer announcement of 22 May 2025). The photograph shows the weathered surface of spodumene pegmatite float with spodumene crystals 10mm to 28mm in length (outlined in red), estimated to be 15-20% of the surface area of the rock sample.

NOTE: Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations.

Next Steps

The Company has commenced further mapping across both the Rubino and Agboville licences to continue the evaluation of the anomalies identified in the Phase 2 and 3 soil results. This additional mapping will assist in defining follow-up auger drill programmes to map the source of the anomalies below the laterite at surface, with the intention to define potential reverse circulation and diamond drill targets.

Further, Phase 4 soil sampling across both licences, extending outwards of the Phase 2 and Phase 3 soil sampling programme and across additional prospective areas, is also expected to be planned.

The Company has engaged a specialist corporate advisor to commence a formal process to source funding options to accelerate exploration activities across the Côte d'Ivoire licences. This process is focused on minority, project-level investment or partnerships that offer funding that is non-dilutive to Atlantic Lithium's existing shareholders.

JORC Table 1, Section 1 (Sampling Techniques and Data) and Section 2 (Reporting of Exploration Results) are included in Appendix 4.

Competent Persons

Information in this announcement relating to the exploration results is based on data reviewed by Mr I. Iwan Williams (BSc. Hons Geology), General Manager - Exploration of the Company and reported in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (The Joint Ore Reserves Committee Code - JORC 2012 Edition). Mr Williams is a Member of the Australian Institute of Geoscientists (#9088) who has in excess of 30 years' experience in mineral exploration and is a Qualified Person under the AIM Rules and as a Competent Person as defined in the JORC Code. Mr Williams consents to the inclusion of the information in the form and context in which it appears.

For any further information, please contact:

Atlantic Lithium Limited

Keith Muller (Chief Executive Officer)

Amanda Harsas (Finance Director and Company Secretary)

Notes to Editors:

About Atlantic Lithium

www.atlanticlithium.com.au

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

The Company published a Definitive Feasibility Study in respect of the Project in July 2023. The Project was awarded a Mining Lease in October 2023, an Environmental Protection Authority ("EPA") Permit in September 2024, and a Mine Operating Permit in October 2024 and is being developed under an earn-in agreement with 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.

APPENDIX 1

Rock-chip assay results from the Rubino licence.

NOTE: Grid references reported in projection UTM, WGS84, Zone 30N.

APPENDIX 2

Geological map of the Rubino licence with rock-chip sample locations marked. Sample IDs are given where assay values >0.2% Li₂O were returned, as reported in Table 1.

APPENDIX 3

Soil assay results (Li ppm >85 ppm, sorted highest to lowest) - Li values greater than 210 ppm are deemed extremely anomalous; values below 85ppm are considered background and are not reported in this announcement (calculated by means of cumulative probability statistics).