Jindalee Lithium ISIN: AU0000309577

PRE-FEASIBILITY STUDY (PFS) The McDermitt PFS commenced in June 2023 with leading global EPCM company Fluor Corporation appointed as lead engineer and Michael Elias engaged as the Company’s Study Manager. Fluor has extensive experience with US sediment hosted lithium deposits and has assembled a team of highly credentialled metallurgists and engineers to work on the study. Fluor is also managing the metallurgical testwork program being undertaken concurrently with the PFS. In early December 2023 Jindalee advised the appointment of Ian Rodger as Chief Executive Officer, commencing mid-January 20242. Ian is an experienced mining engineer and will lead the delivery of the McDermitt PFS. Additional study work is underway with US West Coast based engineering firms for supporting works including pit geotechnical, mine waste and tailings storage management, hydrology and water supply and grid power supply. In addition, discussions are underway with a mine planning engineering consultancy with contract award targeted for early in the new year. The PFS will also leverage the baseline environmental studies and Native American heritage investigations undertaken for the Exploration Plan of Operations (refer below). Work is progressing well with several preliminary deliverables already having been received. The PFS is expected to continue through until mid-2024, subject to the timing of metallurgical test results, site investigations and approvals.

Jindalee Lithium Ltd (ASX:JLL, OTCQX:JNDAF) has delivered an update on the progress at the McDermitt Lithium Project, the United States' largest deposit by contained lithium in mineral resources. A pre-feasibility study (PFS), a crucial step in the project, kicked off in June 2023 and is progressing well, adhering to time and budget constraints

Accomplished company director and finance professional Wayne Zekulich will join Jindalee Lithium Ltd (ASX:JLL, OTCQX:JNDAF) as non-executive chair from February 1, 2024. Zekulich has held several chief financial officer roles and is currently the chairman of Pantoro Ltd and a board member of Western Australian Treasury Corporation. “I am looking forward to the continued development of the McDermitt Lithium Project, the largest lithium deposit in the US (by contained lithium in resource), a significant and exciting opportunity for Jindalee," Zekulich said "The key focus in the short term is the completion of the pre-feasibility study by Fluor during 2024 to enable future options to be developed for the project.”

Jindalee Lithium Ltd is focused on advancing the McDermitt Lithium Project on the Oregon-Nevada border. The McDermitt deposit is one of the largest (by contained lithium) and most strategically important lithium deposits in the United States. The deposit, discovered by Jindalee's management team in 2018, has the potential to be a low-cost, long-life source of lithium.