Core Lithium Ltd. announced a Mining Extension Scoping Study (Study) has outlined lithium production over 10 years from the Company's wholly owned Finniss Lithium Project in the Northern Territory (Finniss Project). The Study, which is primarily underpinned (69%) by the Ore Reserves detailed in the Definitive Feasibility Study, also includes Measured, Indicated & Inferred material (31%) that cannot be defined as an Ore Reserve and hence cannot provide assurance of an economic development case at this stage, or to provide certainty that the conclusions of the Scoping Study will be realised. The Study demonstrates the Project's economics with the inclusion of inferred material to be compelling, with low capital costs and competitive operating costs that result in high operating margins and rapid payback. Highlights: Finniss Lithium Project Mining Extension Scoping Study (Study) confirms that Core Lithium is well positioned to become a long-term lithium producer in Australia Study builds on and adds to the outstanding economics of the Stage 1 Definitive Feasibility Study (DFS) Excellent Study economics reflected in pre-tax IRR of 56% and pre-tax NPV8 of AUD 259 million and life-of-mine EBITDA of AUD 694 million from revenue of AUD 1.6 billion1 Finniss Project's Study 10 Year production and mine plan comprises open pit production from Reserves and Resources at Grants and Hang Gong and underground at Grants, BP33 and Carlton prospects Low initial capital expenditure of AUD 89 million remains unchanged from DFS C1 Operating Cost (FOB) of USD 372/t concentrate generate a robust average operating margin of more than USD 350/t Further potential for production expansion and increases in Mineral Resources and Ore Reserves underway, with a substantial drilling budget for 2021 and 2022 Targeting FID for the start of construction before the end of 2021.