Global Lithium Resources (ASX: $GL1) Quarterly Report Highlights

Global Lithium Resources Limited (ASX: $GL1) has reported a 43% increase in the Manna Lithium Deposit Mineral Resource Estimate (MRE) to 51.6Mt @ 1.0% Li2O, positioning the project as the 2nd largest lithium resource in the Kalgoorlie Lithium Province. The total contained Li2O has increased by 26% to 515,000 tonnes, with a Contained Lithium Carbonate Equivalent (LCE) of 1,276 Kt. The company has also seen a 63% increase in Indicated JORC classification to 32.9Mt @ 1.04% Li2O. Additionally, a new MRE model will be utilized in the Manna Definitive Feasibility Study (DFS) expected to be released in H2 CY24.

Executive Chairman's Commentary on Quarterly Achievements

The Company is pleased with its achievements during the June quarter with two significant milestones announced during the period. Notably, the Company has upgraded its Mineral Resource Estimate at the Manna Lithium Project with a 43% increase, reinforcing its importance as a notable lithium deposit in not only Western Australia, but globally. GL1 intends to build further on the new MRE, our third update at Manna, with the CY24 drilling program which commenced in May the next step towards achieving this. We will soon complete this drilling campaign and expect to announce first results in the September quarter.

Summary of Quarterly Report and Outlook

Global Lithium Resources (ASX: $GL1) has made significant progress in increasing the Manna Lithium Deposit Mineral Resource Estimate, positioning the project as the 2nd largest lithium resource in the Kalgoorlie Lithium Province. The company is well advanced in the Definitive Feasibility Study (DFS) for the Manna Lithium Project, with the updated Mineral Resource Estimate supporting detailed mine scheduling and providing confidence in the underlying resource. The company also continues to focus on finalizing the Native Title Mining Agreement and completing the metallurgical testwork program. With ongoing engagement with potential strategic and offtake partners, the company anticipates a rebound in the lithium market in 2025. The completion of the DFS and the announcement of a mineral reserve are key upcoming milestones as the company progresses towards the conclusion of the Manna DFS before the end of CY24.