Continental Lithium Announces Discussions Underway for Potential Offtake Agreements and JV Partnerships in US

LAGOS, June 5, 2023 - Continental Lithium Limited ("Continental Lithium," "Continental," or the "Company"), the first emerging lithium mining and trading company out of Nigeria focused on the exploration, mining, trading and exporting of solid minerals ores, including lithium (spodumene), tantalum, niobium, tin, zircon sand (brown), and rare earths to the U.S., Europe and Asia, today announced discussions are underway with various potential partners in the US for offtake agreements and joint venture ("JV") partnerships.

The potential partnerships are part of the Company's long-term strategy to establish itself as a reliable and sustainable supplier of lithium (spodumene) and other solid mineral ores to US customers. The focus is to secure offtake agreements with potential customers seeking to secure a steady supply of quality product at competitive pricing. The Company is also open to exploring JV opportunities to maximize the extraction, processing, and sale of minerals from its project sites.

W. Pierce Carson, PhD, CEO of Continental Lithium, stated, "We are very excited about this opportunity to partner with potential customers and expand our presence in the US. We are confident in our ability to provide a reliable supply of high-grade lithium (spodumene) to meet rapidly rising demand and look forward to establishing relationships with new partners. The foundation we are building in the US market will be an important step toward accelerating Continental Lithium's long-term growth."

Lanre Afebuameh, President and Executive Vice Chairman of Continental Lithium, added, "Continental Lithium is uniquely positioned to fill the gap in US lithium (spodumene) supply and provide a secure, high-quality source of minerals for our partners. Our strong focus on quality assurance and reliability will ensure we deliver on our promises to customers. We look forward to continuing these discussions with potential partners and cementing relationships that will benefit all involved."

About Continental Lithium

Founded in 2017, the Company commenced small-scale mining in collaboration with artisanal miners in 2018. Over the last five years, the underlying assets acquired by Continental Lithium have produced approximately 15,000 metric tons of lithium concentrate. The Company has plans to develop its lithium and rare earth mineral assets and substantially increase its production for export to the U.S., Europe and Asia. Continental Lithium currently owns 100% interest in 26 minerals licenses covering 152,000 acres which wereacquired from the Nigerian Mining Cadastre Office. 15 of the 26 licenses cover 113,000 acres for lithium and other pegmatite-hosted mineralization of tantalum, niobium, tin, rare earths and gemstones. Learn more at https://continental-lithium.com/.


Special Note Regarding Forward-Looking Statements

This press release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that could cause the Company's actual results, performance, or achievements or industry results to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are beyond the Company's control. The words "believes", "may", "will", "should", "would", "could", "continue", "seeks", "anticipates", "plans", "expects", "intends", "estimates", or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that the projected results or events will be achieved.



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SOURCE: Continental Lithium Limited