PIEDMONT INCREASES LITHIUM RESOURCE BY 40%

Apr 8, 2021

Our work toward powering a U.S. clean energy economy supported by a U.S.-based EV supply chain continues to expand. We are happy to announce an updated Global Mineral Resource estimate (“MRE”) which includes updated estimates for the Core and Central properties and an initial Mineral Resource estimate for the Huffstetler property. The total MRE for the project is now 39.2 Mt at 1.09% Li₂O. And, we continue to make progress in other areas:

Exploration and infill drilling continues with five rigs operating on the Core property
The updated resource base will underpin the Scoping Study update targeted for May 2021
A further resource update will precede the DFS scheduled for September 2021 release

Click here to view the full ASX Announcement.

Keith D. Phillips, President and Chief Executive Officer, commented: “Increasing the scale of our North Carolina mineral resource to 39.2 Mt at 1.09% Li₂O establishes our asset as one of the largest spodumene resources in North America – and the only one in the United States. The expanded resource offers the potential for increased annual lithium production, something we will evaluate as we prepare our updated Scoping Study for release next month. All this is coming together at an ideal time, as the public and private sectors dramatically increase their investment in the electrification of America. Given the scope and strategic location of our Piedmont Lithium Project, we believe we are ideally positioned to play a critical role in helping the United States build a clean energy economy and a U.S. based EV supply chain.”

For further information, contact:

Keith D. Phillips | President & CEO
T: +1 973 809 0505
E: [email protected]

Brian Risinger
VP – Investor Relations and Corporate Communications
T: +1 704 910 9688
E: [email protected]

https://www.piedmontlithium.com/