Latin Resources Limited provided an update on drilling results from the Colina and Colina West areas from drilling completed in late 2022 at the Company's 100% owned Salinas Lithium Project (Salinas). 2022 Drilling Program -­ Assay results: The Company announced its maiden Mineral Resource Estimate ("MRE"), for the Colina Deposit of 13.3Mt @ 1.2% Li2O, along with a JORC Exploration Target Range ("ETR") for Colina of 13.5 ­ 22 Mt with a grade range of 1.2 ­ 1.5% Li2O, in early December 2022; neither of which include the potential additional resources that may be defined in the Colina West area (Figure 1). The MRE and ETR are based on assay results from a total of 47 diamond drill holes for some 10,528m of drilling, with an additional 25 holes completed at Colina and Colina West at the end of the 2022 drilling season, which were not included in the MRE and ETR calculations.

Assay results for a total of thirteen of these drill holes (SADD048 SADD060), completed toward the end of the 2022 drilling campaign have been returned from the laboratory. A further ten (SADD061 ­ SADD071) remain outstanding. Results from this latest batch of results include holes from within the main Colina Deposit MRE, as well as more holes drilled in the Colina West area.

The holes collared within the footprint of the Colina MRE all show good correlation with the block model, and in some cases have returned higher grades than predicted by the MRE, notably holes SADD057 and SADD059. Significant intersections within the MRE footprint include: SADD053: 14.00m @ 1.35% Li2O from 289.58m; SADD057: 20.17m @ 1.66% Li2O from 136.99m; SADD059: 14.70m @ 1.27% Li2O from 109.90m; and SADD060: 15.96m @ 1.56% Li2O from 350.09m. Results from the holes drilled in the Colina West area have returned exceptional results that the Company believes significantly upgrades the prospectivity of the Colina West area.

Drill hole SADD055, collared approximately 200m along strike to the south of the Colina West discovery hole SADD033, is a standout, having returned multiple highgrade intersections greater than 10 meters in thickness. In total, SADD055 intersected over 67 cumulative meters of highly mineralised pegmatites which are interpreted by the Company to continue up dip to the west. The ongoing 2023 drilling campaign will test the near surface and strike extensions of these pegmatites.

These intersections remain open in all directions. Significant intersections include: SADD055: 13.73m @ 1.38% Li2O from 200.19m; and: 16.08m @ 1.07% Li2O from 306.69m; and: 10.85m @ 1.96% Li2O from 322.15m and: 11.16m @ 1.61% Li2O from 360.17m and: 16.00m @ 1.61% Li2O from 393.60m. Drill hole SADD060, collared 100m to the east of hole SADD033, is equally significant, as it confirms the continuity of the pegmatites in SADD033 at depth returning multiple significant intersections, including: SADD060: 2.29m @ 1.71% Li2O from 84.75m and: 1.88m @ 1.85% Li2O from 182.70m and: 1.96m @ 0.83% Li2O from 203.69m and: 2.84m @ 0.92% Li2O from 228.00m and: 2.89m @ 1.33% Li2O from 247.40m and: 1.55m @ 0.56% Li2O from 252.00m and: 15.95m @ 1.56% Li2O from 350.09m and: 1.41m @ 1.64% Li2O from 370.62m and: 2.00m @ 1.04% Li2O from 384.42m.

All mineralisation at Colina and Colina West remains open along strike to the north and south as well as at depth. The current 65,000m diamond drilling campaign, which commenced in early January with the arrival of six diamond drilling rigs, is designed to test the area updip from the Colina West pegmatites intersected in holes SADD055 and SADD053, as well as along strike to the north and south. The proposed drill spacing of 100m by 100m is expected to provide sufficient data coverage for the estimation of an inferred MRE for Colina west, in line with the Company's plan to fast track rapid resource growth at the Colina and Colina West Deposits and underpin a rapid move towards potential future development.