Atlantic Lithium Regulatory News (ALL)

13 February 2023

Corporate Update

Ricca Resources Pre-IPO Placement

Atlantic Lithium Limited (AIM: ALL, ASX: A11, OTCQX: ALLIF, "Atlantic Lithium" or the "Company"), the funded African-focussed lithium exploration and development company targeting to deliver Ghana's first lithium mine, announces that Ricca Resources Limited ("Ricca") is undertaking a private placement ahead of its intended listing on the Australian Stock Exchange ("ASX").

Ricca was formed as a public unlisted entity to hold and advance the Company's suite of demerged gold projects (refer to the Company's announcement on 24 December 2021 regarding the completion of the demerger). Ricca holds extensive gold portfolios in prospective birimian terrains in Côte d'Ivoire, a potential new gold province discovery in Chad, a drill-ready gold target in Liberia and a strategic partnership to advance a lithium-tantalum project also in Côte d'Ivoire. The company remains on track to list on the ASX in H1 2023.

Due to Ricca's attendance at the 121 Mining Investment conference, the closing date of the Ricca pre-IPO private placement has been extended to Friday, 24 February 2023.

Details of the placement and the intended ASX listing can be found in the latest Ricca Resources presentation at the following link: https://www.riccaresources.com.au/presentations.

For any further information, please contact:

Notes to Editors:

About Atlantic Lithium

www.atlanticlithium.com.au

Atlantic Lithium is an AIM and ASX-listed lithium exploration and development company advancing a portfolio of lithium projects and licenses in Ghana and Côte d'Ivoire through to production.

The Company's flagship project, the Ewoyaa Project in Ghana, is a significant lithium spodumene pegmatite discovery on track to become Ghana's first lithium producing mine. The Company signed a funding agreement with Piedmont Lithium Inc. for US$103m towards the development of the Ewoyaa Project. Based on the Pre-Feasibility Study, the Ewoyaa Project has indicated Life of Mine revenues exceeding US$4.84bn, producing a spodumene concentrate via simple gravity only process flowsheet.

Atlantic Lithium holds 560km2 & 774km2 of tenure across Ghana and Côte d'Ivoire respectively, comprising significantly under-explored, highly prospective licenses.