Liontown Resources : Acquires Buldania Royalty from Westgold Resources

24 July 2019

Liontown Acquires Buldania Royalty from Westgold Resources

Acquisition consolidates Liontown's ownership of emerging WA lithium project

Liontown Resources Ltd (ASX: LTR) ("Liontown" or the "Company") is pleased to advise that it has

signed a formal sale agreement with Westgold Resources Limited (ASX: WGX) to acquire the revenue and production royalties relating to lithium and related minerals over its 100%-ownedBuldania Lithium Project in WA.

The royalties, a 1.5% gross revenue royalty and a production royalty of A$2 per tonne of ore mined and/or processed from three key tenements (E63/856, P63/1977 and M63/647), are being acquired for total consideration of A$2 million in cash.

Buldania, located ~30km east of Norseman, is Liontown's second WA lithium project and is being progressed alongside its flagship Kathleen Valley Lithium Project, with a substantial resource drilling program currently in progress.

The acquisition is not subject to any conditions precedent and the transaction is expected to complete within the next 5 business days.

Commenting on the acquisition, Liontown's Managing Director, Mr David Richards, said:

"The acquisition of the Westgold royalties at Buldania demonstrates our confidence and commitment to the Project, and we believe this investment is further validated by the strong drilling results we have announced over the past year, including the recently reported results from the current resource drilling program.

"The key tenements, which include the Anna pegmatites, are now unencumbered and we believe this will maximise the potential value for Liontown as we advance the Company's second major lithium discovery to a maiden Mineral Resource estimate later this year."

DAVID RICHARDS

Managing Director

For More Information:	Investor Relations:
David Richards	Nicholas Read
Managing Director	Read Corporate
T: [phone]	T: [phone]

ASX ANNOUNCEMENT

ASX : LTR

FORWARD LOOKING STATEMENT

This announcement contains forward-looking statements which involve a number of risks and uncertainties. These forward-looking statements are expressed in good faith and believed to have a reasonable basis. These statements reflect current expectations, intentions or strategies regarding the future and assumptions based on currently available information. Should one or more of the risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and strategies described in this announcement. No obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments.

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