26 Nov

GL1:Drilling Contractor Appointed-2022 MBLP Drilling Program

26 November 2021 DRILLING CONTRACT OR APPOINTED FOR 2022 DRILLING PROGRAM AT THE MBLP ORLANDO DRILLING TO CARRY OUT 60,000M PROGRAM DUE TO COMMENCE IN Q1 2022 Growing l ithium explorer , Global Lithium Resources Limited ( ASX: GL1 , Global Lithium or the Company ) is pleased to advise that following a competitive tender process, it has selected Orlando Drilling (“ Orlando ”) to carry out the Company’s planned RC drilling program in Q1 2022 at t he wholly owned Marble Bar Lithium Project (“MBLP”) in the Pilbara. Orlando is a leading West Australian based drilling contractor and part of Dynamic Group Holdings Limited ( ASX: DDB , Dynamic Group ) which provides drilling services t hroughout Australia . Global Lithium Managing Director Jamie Wright said , “ We wer e impressed with Orlando’s capabilities, track record of safety and community and their deep experience in lithium . We are very pleased to be teaming with them to carry out our planned drilling program commencing Q1 2022 . The program is aimed at extend ing the lithium mineralisation by targeting the greenstones to the South of our Archer Deposit, down to our southernmost tenements. This wil l be the largest drilling program Global Lithium has undertaken , funded by our recently successful capital raise of $13.6m, which saw the introduction of our cornerstone investor, Yibin Tianyi, the lithium chemical arm of the world’s largest EV battery pro ducer, CATL. Whilst we are still carrying out our 2021 program on site, we are pleased to have in place the appointment of Orlando so we can kick start our 2022 program. It is truly a very exciting time for Global Lithium. ” Global Lithium’s Q1 2022 drilling program is planned to comprise approximately 60,000m of Reverse Circulation (RC) drilling. This broader program will build the success of recent programs and thoroughly test the extent of the mineralisation contained with in the greenstones to the south of the Company’s Archer Deposit , which contains a n Inferred Mineral Resource of 10.5Mt @ 1.0% Li 2 O . The 2022 program will follow up many existing and newly identified lithium targets from the Company’s 2021 program s . Page 2 of 3 | ACN 626 093 150 | ASX: GL1 Suite 8, 7 The Esplanade, Mt Pleasant, WA 6153 info@globallithium.com.au | www.globallithium.com.au Fi gure 1: Global Lithium and Orlando Drilling team members (L - R): Jamie Wrigh t, Joel Skipworth, Bryan Bourke, David Kin n ersley, Temba Pitts and Kyle Lawrence. The MBLP is situated close to major road infrastructure, with direct links into Port Hedland, where bulk commodities, including spodumene concentrate, are currently being exported ( Figure 2 ). The MBLP is also located approximately 15km from the town of Marble Bar, which provides ready access to services and skills. Global Lithium is well funded with a cash balance of $7.3 million as at 30 September 2021 and has recently announced a heavily overbid $13.6 million capital raising 1 . Figure 2 : Marble Bar Lithium Project location map . 1 Refer ASX release titled “$13.6m Raising – Yibin Tianyi Cornerstone Shareholder”, dated 1 November 2021. Page 3 of 3 | ACN 626 093 150 | ASX: GL1 Suite 8, 7 The Esplanade, Mt Pleasant, WA 6153 info@globallithium.com.au | www.globallithium.com.au Approved for release by the B oard of Global Lithium Resources Limited. For more information: Jamie Wright Managing Director info @globallithium.com.au +61 8 6103 7488 Victoria Humphries Media & Investor Relations victoria@nwrcommunications.com.au +61 (0) 431 151 676 Information on historical exploration results and Mineral Resources presented in this Announcement, together with JORC Table 1 information, is contained in the Independent Geologists Report within the Company’s Prospectus dated 22 March 2021, which was rel eased as an announcement on 4 May 2021. The Company confirms that it is not aware of any new information or data that materially affects the information in the relev ant market announcements, and that the form and context in which the Competent Persons fi ndings are presented have not been materially modified from the original announcements. Where the Company refers to Mineral Resources in this announcement (referencing previous releases made to the ASX), it confirms that it is not aware of any new inform ation or data that materially affects the information included in that announcement and all material assumptions and technical parameters underpinning the Mineral Resource estimate with that announcement continue to apply and have not materially changed. T he Company confirms that the form and context in which the Competent Persons findings are presented have not materially changed from the original announcement . About Global Lithium Global Lithium Resources Limited (ASX:GL1, Global Lithium) is an emerging lithium exploration company with a primary focus on the 100% - owned Marble Bar Lithium Project (MBLP) in the Pilbara region of Western Australia. Global Lithium has defined a maiden Inferred Mineral Resource of 10.5Mt @ 1.0% Li 2 O at its Archer deposit, confirming the MBLP as a significant n ew greenfields l ithium discovery. Directors Warrick Hazeldine Non - Executive Chair Jamie Wright Managing Director Dr Dianmin Chen Non - Executive Director Capital Structure Shares on issue: 151,579,181 fully paid ordinary shares Options on issue: 4,780,614 options with an exercise price of $0.30 per option and an expiry of 6 May 2025 Performance Rights: 5,000,000 performance rights, subject to certain performance milestones
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