Latin Resources Limited announced the completion of the company's Mineral Resource update for the 100% owned Cloud Nine HalloysiteKaolin Deposit in Western Australia. The Mineral Resource has been estimated and classified by a Competent Person and is reported here in accordance with the JORC Code (2012). Project Summary: The Cloud Nine deposit is located on the company's 100% owned exploration licence E77/2622, which is situated ~350 km to the east of Perth and to the southeast of the town of Merredin.

The company controls a commanding regional tenement package (Noombenberry Project), covering over 560 km2 of what the company believes is the most prospective ground in the region to identify repetitions of the highgrade Cloud Nine deposit. Mineral Resource Estimate Update Summary: The updated Mineral Resource for the Cloud Nine Deposit includes an in situ Indicated Mineral Resource of 70 Mt kaolinised granite at an average Brightness ("ISOB") grade of 81. In addition to the Indicated Mineral Resource is an in situ Inferred Mineral Resource of 210 Mt kaolinised granite at an average ISOB grade of 79, for a total global in situ Indicated and Inferred Mineral Resource of 280 Mt, an increase of ~33% from the May 2021 global estimate of 207 Mt.

The Inferred Mineral Resource includes an 85 Mt highgrade (>3%) portion with an average halloysite grade of 4%. The Mineral Resource upgrade contains a total of 26.7 Mt of bright white kaolinised granite, classified as Indicated, with an ISOB grade of 81, reporting to the <45 µm size fraction. In addition, the global Mineral Resource contains 90 Mt kaolinised granite classified as Inferred, reporting to the <45 µm size fraction, with an average ISOB of 79.

This domain also includes 35 Mt halloysite, averaging 10% halloysite, estimated using a 3% halloysite cutoff and reported to the <45 µm size fraction. The deposit contains low Fe contamination averaging 0.8% Fe2O3. All Mineral Resources are reported to the <45 µm fraction at a cutoff grade of 75 ISOB in accordance with Clause 49 of the JORC Code (2012).

Next Steps: The company will now enter into negotiation with potential offtake customers, which will include options to supply shortterm products, as well as supplying valueadded processed kaolin and halloysite products in the longer term. Excavation of the recent test pit has provided the Company with valuable information to further refine preliminary assumptions, including mining and stockpile designs, mining method and equipment selection and preliminary geotechnical assumptions. Material samples will also assist with further testing and analysis to continue improving the understanding of the deposit including the overlying material.

A preliminary desktop environmental study has also been undertaken on the Cloud Nine Project site. Outcomes of this study will be used to inform the scope of work required to support the pathway to apply for the relevant environmental approvals in support of the project. This information is being factored into an updated forward work plan to support the development of the Cloud Nine Halloysite Kaolin Deposit.