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Alba Acquires Option Over Andover West Lithium Project in Western Australia


Initial 50% Lithium interest:

- Andover West Lithium Project

- West Pilbara, WA

- Exploration licences E47-3373 (AW1) & ELA47-4844 (AW2)

Significant Lithium Resource Area:

- Western Australia hosts 4 of the World's largest Lithium mines

- Combined reserves more than 500Mt

Andover Project to the East:

- High-grade lithium intersections

- 209.4m @1,42% Li2O

Terms of Option Agreement

- 30-day Option period

- 250,000 ALBA shares

- At 25% premium to 15 day VWAP

- 1 for 1: 12 month warrants at 0.2p

- Alba to form Unincorporated JV to explore Lithium rights over Tenements

- Each Party contributing to expenditures pro-rata

- Alba appointed as Manager

- Alba to have pre-emption and Tag-along rights

Market Intelligence

- Further diversification of territory and commodity

- Lithium price weakness seen as an opportunity for low-cost entry

- ALBA confident area has high Lithium resource

- Proven M&A exit potential

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