Lightning Minerals announces exclusive call option agreement for Esperança Project

Lightning Minerals Limited (L1M) has signed a binding exclusive call option agreement to potentially acquire the Esperança project from BRS Hill Stones Mineração e Transportes Ltda (BRS). The Project, located 5km south of the recently acquired Caraíbas and Sidrônio lithium projects in Minas Gerais, Brazil, offers an exciting addition to the Company's portfolio in the highly prospective Lithium Valley region. The 24-month low-cost option provides an opportunity for the Company to further consolidate its land position in the region.

Executive Commentary on Esperança Project Acquisition

Lightning Minerals Managing Director, Alex Biggs, expressed enthusiasm about the potential acquisition of the Esperança Project, emphasizing its strategic significance in consolidating the Company's land position in the highly prospective Lithium Valley region. The low-cost option deal presents significant opportunity for the Company to minimize downside and maximize upside potential, aligning with its focused exploration campaign in Brazil. The Company looks forward to the potential that lies ahead, supported by its presence in one of the most prolific lithium regions globally.

Summary of Option Agreement and Outlook

The signing of the Option Agreement for the potential acquisition of the Esperança Project marks a positive step for Lightning Minerals in expanding its lithium potential in Brazil. The Project's location, along with the existing land package and identified pegmatite outcrops, presents an opportunity for low-cost, phase 1 exploration strategies to prove prospectivity. The Company's focused exploration campaign, including ground reconnaissance, geophysics, and soil sampling, aims to define drill targets and further enhance its strategic approach to exploration. With access to a seasoned ground team and the region's significant exploration potential, Lightning Minerals is well-positioned to capitalize on the opportunities presented by the Lithium Valley region. The Company's ambitions and goals in Brazil, supported by its existing projects and strategic works, indicate a positive outlook for its corporate strategy and expansion in the lithium sector.