Lifezone Metals Limited announced the significant addition of high-grade nickel, copper and cobalt Mineral Resources to the Measured and Indicated categories at its Kabanga Nickel Project, located in north-west Tanzania. The December 2024 Mineral Resource Update is detailed in a Technical Report Summary, which has been filed on EDGAR. Attributable Measured and Indicated Resources total 46.8 million tonnes grading 2.09% nickel, 0.29% copper and 0.16% cobalt (2.62% nickel-equivalent ?

1.2 million tonnes contained nickel-equivalent). Plus, attributable Inferred Resources totaling 11.3 million tonnes grading 2.08% nickel, 0.28% copper and 0.15% cobalt (2.59% nickel-equivalent ? 0.3 million tonnes contained nickel-equivalent).

3.3 million tonnes attributable to Lifezone with an average grade of 3.00% nickel (3.26% nickel-equivalent) for 98,000 tonnes attributable contained nickel have been added to the Measured and Indicated categories compared to the previous November 2023 Mineral Resource Update. 81% of Kabanga?s Mineral Resource tonnes are now classified as the higher confidence Measured and Indicated categories relative to Inferred. Only Measured and Indicated Resources can support the conversion to Proven and Probable Reserves.

The nickel-equivalent formula and cut-off grade calculation has been revised to reflect updated assumptions and technical parameters, increasing to 0.73% nickel-equivalent (NiEq24) for the massive sulfide domain and 0.77% NiEq24 for ultramafic, compared to 0.58% nickel-equivalent (NiEq23) previously. Kabanga?s largest mineralized zone, the North Zone, has had a 21% increase in contained nickel in Measured and Indicated. The North Zone represents more than 50% of Kabanga?s total resources, with 24.7 million tonnes of attributable Measured and Indicated Resources grading 3.19% nickel-equivalent.