Global Lithium Resources

RON MITCHELL

MANAGING DIRECTOR

(ASX:GL1)

◾ Company Name: Global Lithium Resources ◾ Company ASX code: GL1 ◾ Key commodities: Lithium ◾ Key Personnel: Warrick Hazeldine, Non-Executive Chair | Ron Mitchell, Managing Director | Dianmin Chen, Non-Executive Director ◾ Locations: Pilbara and Goldfields regions, Western Australia ◾ Market Cap as of 15/07/22: $216.21M ◾Share price range over 12 months as of 15/07/22: $2.73 - $0.26 ◾ Company Website: globallithium.com.au

COMPANY PROFILE

Global Lithium is a rapidly growing lithium exploration company with a focus on two highly prospective Western Australian projects with the company fast tracking exploration at both assets.

That includes a 60,000m reverse circulation drilling program underway at its 100% owned Marble Bar Lithium Project in the Pilbara region, which is its largest program to date.

At its second site, the Manna Lithium Project (80% owned) in the Goldfields region, Global Lithium commenced a 20,000m RC campaign in May, with the company keen to keep its momentum up as the lithium market continues to grow.

As Western Australia’s fastest growing lithium explorer with diversified assets in Tier 1 jurisdictions, Global Lithium has attracted the support of cornerstone investors Suzhou TA&A Ultra Clean Technology Co (9.9%) and Mineral Resources Limited (ASX: MIN) (5.0%).

The company shares important asset location synergies with Mineral Resources, a company that enjoys a solid reputation, built on a track record of successfully bringing operations into production quickly, the processing of hard rock lithium ores and downstream processing.

Global Lithium managing director Ron Mitchell says there are four things that make the company stand out from the pack.

“Firstly, the location of our assets, Western Australia, which was recently voted the preeminent mining jurisdiction on the planet, in a report released by the Fraser Institute in April,” he says.

“That feeds into the global geopolitical discussion – it’s a safe location to do business, and the ‘Team WA’ brand is well known and highly respected overseas.”

“WA accounts for more than 50% of the world’s lithium supply in the form of raw materials, and we have two of only 13 JORC compliant lithium resources in Australia,” he adds.

Mitchell says Global Lithium’s next major selling point is its “best in class” management team, with more than 150 years worth of cumulative experience.

That includes Mitchell’s own 25 years’ experience in senior commercial, strategy, sales and business development roles, including senior roles at Tinaqi Lithium Corporation and Talison Lithium. He is also the inaugural Chairman of the London Metal Exchange (LME) Lithium Committee.

Non-Executive Chair Warrick Hazeldine and Non-Executive Director Dianmin Chen both have decades of experience to draw on; Hazeldine from more than 20 years in investor relations activities to attract capital, and Chen from more than 35 years’ experience in mining industry management positions in Australia, China and Canada.

Third on Mitchell’s list is the nature of the resources that Global Lithium is working from, which include a maiden JORC 2012 Inferred Mineral Resource of 10.5 million tonnes at 1.0% Li2O at its Marble Bar deposit.

Exceptional results from further exploration included 28m @ 1.51% Li2O and 46ppm Ta2O5 from 69m, and 9m @ 1.11% Li2O and 42ppm Ta2O5 from 108m.

The company’s Manna project is showing substantial promise as well, with a maiden Inferred JORC Mineral Resource estimate for Manna of 9.9Mt @ 1.14% Li2O and 49 Ta2O5 ppm (100% basis).

The fact that Global Lithium has both projects on the boil is the fourth stand-out for Mitchell, who says: “As far as I am aware, we are the only company on the planet currently in advanced exploration campaigns on two independent lithium sites.”

KEY INVESTMENT HIGHLIGHTS

JUNE 28, 2022: Drilling results include 12m @ 0.75% Li2O from 41m including 4m @ 1.41% Li2O from 41m at Manna. MAY 2, 2022: Assay results include 3m @ 2.5% Li2O and 32ppm Ta2O5 from 67m in MBRC0244 including 1m @ 4.1% Li2O at Marble Bar. MARCH 3, 2022: Global inks 10-year strategic spodumene concentrate offtake agreement with Suzhou TA&A Ultra Clean Technology Co.