Core Lithium Ltd. advised that it has entered into a binding Tenement Sale and Purchase Agreement ("the Agreement") with Newmont Exploration Pty Ltd, a subsidiary of gold producer Newmont Corporation, to acquire the Shoobridge Project (EL31407) ("Shoobridge Project"). The Project is located approximately 80km south-southeast of the Company's 100%- owned Finniss Lithium Project ("Project") near Darwin in the Northern Territory. Completion of the sale and purchase of the Shoobridge Project is subject to NT Ministerial consent.

The Shoobridge Project is located in the Pine Creek Orogen in the NT and lies within the Tipperary pegmatite district, including the Shoobridge pegmatite field and the Plateau Point pegmatite field. The Shoobridge pegmatites have been exploited for their tin and tantalum, and are the site of the first discovery of tin- bearing pegmatites in the NT in 1882 (Frater, 2005). Importantly, the pegmatites are considered analogous to those in the Bynoe pegmatite district and are therefore complementary to the Company's lithium portfolio in the Northern Territory.

Core will be the first company to explore and drill these prospective, potentially lithium-rich pegmatite systems for economic spodumene lithium mineralisation.