Core Lithium Ltd. provided an exploration and drilling update from the Finniss Lithium Project near Darwin in the Northern Territory. During the last drilling season, the company's exploration team focused on Mineral Resource growth and conversion and regional exploration to extend mine life and lay the foundation for production expansion within the broader Finniss Lithium Project over the medium term. This update provides the results from drill assays received for drilling undertaken at a number of prospects and early-stage regional exploration targets within the southern tenements of the project area.

Bilatos Prospect: Ten RC drill holes were completed at Bilatos within and adjacent to newly acquired MLN813 and the company's surrounding EL30012. Excitingly, most holes intersected significant lithium grades and consistent thicknesses of pegmatite in the first drilling undertaken by Core at Bilatos. Assay results have been received for all holes, with the best intersections including: 24m at 2.24% Li2O in SRC068 Incl.

10m at 3.18% Li2O; 30m at 1.11% Li2O in SRC065 Incl. 10m at 2.31% Li2O; 12m at 1.09% Li2O in SRC067; 15m at 0.80% Li2O in SRC063. The Bilatos pegmatite dips steeply to the east and has a true width of between 13m to 30m.

An initial interpretation of the Bilatos pegmatite is that it is a very large single body over 800m in length that remains open to the north, south and at depth. Although spodumene has been positively identified, it is likely that a complex association of lithium bearing minerals is present, based on assay results and visual inspection of the RC chips. Further work is currently underway to determine the range of lithium bearing minerals present.