Lithium Africa Receives Two Non-Binding Offers to Fund the Springbok Project, Including a US$60 Million Investment Proposal

(TSXV:LAF) (FSE:6MQ) (OTCQB:LTAFF) Lithium Africa Corp. has received two non-binding offers to finance the development of the Springbok Project in the Northern Cape Province, South Africa. The first offer is a prepayment facility with offtake from a major international commodity trading house for 100% of the Project's spodumene concentrate in its first three years of production. The second offer is a US$60 million investment from a lithium processing company backed by a Fortune Global 500 group for a 55% interest in the Company's holding in the Project. The Springbok Project is held outside the Company's 50/50 joint venture with GFL International Co., Ltd., an affiliate of Ganfeng Lithium. Lithium Africa is in competitive discussions with more than 20 potential counterparties to identify the best partner to advance Springbok toward production. First production of spodumene concentrate is targeted for H2 2027. The US$60 million investment proposal implies a pre-money valuation of approximately US$70 million for Springbok. The proposal contemplates US$60 million in cash for a 55% interest in a new holding company that would hold the Company's 70% interest in the Project, implying a pre-money valuation of approximately US$70 million for 100% of the Project. Lithium Africa would retain a 45% interest in the holding company, valued at approximately US$49 million, based on the implied post-money valuation of the holding company of approximately US$109 million, without contributing to the US$60 million program. Under the proposal, the investor would subscribe US$60 million in cash for new shares in a holding company to be established to hold the Company's 70% interest in Namli Exploration & Mining (Pty) Ltd, which holds the Project. On completion, the investor would hold 55% of the holding company and the Company would hold 45%, giving the Company an indirect 31.5% interest in Namli. The remaining 30% interest in Namli, held by the Company's Broad-Based Black Economic Empowerment partner, would be unaffected. The proposal implies a pre-money valuation of US$70.1 million for 100% of Namli. The proceeds would fund approximately US$10 million of drilling across the Springbok district and approximately US$50 million for a processing plant. Both offers are non-binding and subject to due diligence, negotiation and execution of definitive agreements, board approvals, acceptance of the TSX Venture Exchange, approval of the Company's shareholders, and required regulatory approvals. The Company continues to target a Project financing decision in H1 2027 and first production of spodumene concentrate in H2 2027. Thomas Benson, Ph.D., Chief Executive Officer of Lithium Africa, stated that receiving offers from both a major trading house and a lithium processing company demonstrates strong interest in Springbok, a permitted mine with a path to production in 2027. The Company is running a competitive process with more than 20 counterparties engaged, aiming to select the partner and structure that deliver the most value for shareholders, so that small-scale production at Springbok can fund large-scale exploration across the district.

Lithium Africa to Advance Springbok Project to Production Targeted for 2027

(TSXV:LAF) (FSE:6MQ) (OTCQB:LTAFF) Lithium Africa Corp. has elected to advance the Springbok Project in the Northern Cape Province, South Africa, toward the production of spodumene concentrate, targeting first production in H2 2027. The company had previously considered a direct shipping ore (DSO) sale of the existing stockpile of previously mined pegmatite at Norrabees I, but has now decided to process that material, along with newly mined pegmatite, through an on-site dense media separation (DMS) plant. This decision follows a review of two-stage DMS testwork on a 13-tonne bulk sample of stockpile material completed by a third party, though this testwork has not yet been verified by a Qualified Person. Mining at Norrabees I is already permitted under the project's existing Mining Permit, but construction of the DMS plant will require additional approvals, and the company has commenced that process. Springbok hosts a 5-hectare Mining Permit over the historical Norrabees I mine, within a 1,675 km² Prospecting Right. The company is targeting an initial Mineral Resource Estimate (MRE) for H1 2027, with a preliminary economic assessment (PEA) to follow. First drill results at Norrabees I within the Mining Permit returned 7.5 m at 1.97% Li2O from 18.5 m downhole (including 6.0 m at 2.27% Li2O) and 4.0 m at 2.25% Li2O from 2.0 m downhole, with individual samples up to 4.11% Li2O. These results, along with historical and ongoing drilling, are expected to support the MRE and PEA to be prepared in accordance with NI 43-101. The company is in preliminary, non-binding discussions with potential counterparties regarding project-level financing for Springbok, including offtake, vendor financing, and project-level equity, and is targeting a financing decision in H1 2027. Cash flow from a modest DMS operation is intended to help fund exploration across the project and the company's broader African portfolio. Thomas Benson, Ph.D., Chief Executive Officer of Lithium Africa, stated that self-funding exploration through small-scale mining is the company's strategy to unlock the Springbok District and deliver non-dilutive value for shareholders. The company has not completed a PEA or any other economic analysis of Mineral Resources in respect of the project, and there are no current Mineral Resources at the project. The company intends to complete a PEA for the project, targeted for H1 2027 following the initial MRE, and as part of the PEA, intends to analyze the composition of the existing stockpiles as potential commissioning feed for the plant and to have the DMS testwork verified by a Qualified Person. The decision to advance Springbok toward production is not based on a feasibility study of mineral reserves demonstrating economic and technical viability, and such production decisions are historically associated with a higher risk of economic and technical failure.

Lithium Africa Announces James Chabata as Chief Financial Officer

(TSXV:LAF) Lithium Africa Corp. announced the appointment of James Chabata, CPA, FCCA, as Chief Financial Officer, effective October 1, 2026, subject to regulatory approvals. Mr. Chabata succeeds Mr. Jamie Robinson, who has served as Chief Financial Officer since June 2022 and will remain with the Company until the end of 2026 to ensure a seamless transition. Mr. Robinson provided financial leadership through the Company's go-public transaction and listing on the TSX Venture Exchange in February 2026. Lithium Africa holds an indirect 50% interest in lithium exploration projects in Côte d'Ivoire, Guinea, Zimbabwe, and Mali through its 50/50 joint venture with GFL International Co., Ltd., a subsidiary of Ganfeng Lithium Group Co., Ltd. The Company is also acquiring a majority interest in the Springbok Project in South Africa, which is held outside the joint venture. Mr. Chabata brings more than 15 years of finance leadership across African mining, with operating experience in Mali, Mauritania, Côte d'Ivoire, Senegal, Zimbabwe, South Africa, and Mauritius. The company projects the appointment of Mr. Chabata as Chief Financial Officer and the planned transition of the Chief Financial Officer role, as well as Mr. Robinson's continued involvement with the Company during the transition period.

Lithium Africa Receives Section 11 Consent for Majority Ownership of the Springbok Project and Files NI 43-101 Technical Report

(TSXV:LAF) Lithium Africa Corp. announced that it has received Section 11 consent from the South African Department of Mineral and Petroleum Resources in respect of the Springbok Project in the Northern Cape, South Africa, enabling the Company to formally complete its acquisition of a 70% majority shareholding in Namli Exploration and Mining Proprietary Limited. The Section 11 consent was received on July 27, 2026, and legal formalities for completion of the share transfer are underway. The Company filed a new NI 43-101 Technical Report on SEDAR+ on July 29, 2026, consolidating historical and Company exploration programs into a single current disclosure document in support of its ongoing 3,500 m drill program. Lithium Africa Corp. holds an indirect 50% interest in lithium exploration projects in Côte d'Ivoire, Guinea, Zimbabwe, and Mali through its 50/50 joint venture with GFL International Co., Ltd., a subsidiary of Ganfeng Lithium Group Co., Ltd. The Company is acquiring a majority interest in the Springbok Project in South Africa, which is held outside the joint venture. The Company corrected an error in its Management Information Circular regarding Mr. Blake Hylands' securityholding, with the correct information set out in the Notice of Correction. The Company projects an initial mineral resource estimate at Norrabees and the formation of an advancement strategy for the entire Springbok project.

Lithium Africa Corp. Advances Loan, Amends Options and RSUs, and Changes Auditors

(TSXV:LAF) Lithium Africa Corp. announced it has provided US$250,000 to a subsidiary of a CSE-listed company in support of a contemplated transaction pursuant to an unsecured convertible promissory note. The Promissory Note is non-interest-bearing and has a stated maturity date on December 3, 2027. The Company may elect to convert the outstanding principal into common shares of the Target representing an aggregate value equal to 135% of the outstanding principal amount. On July 13, 2026, the Company approved amendments to its omnibus long-term incentive plan, increasing the maximum number of common shares available from 3,979,702 to 4,995,663. The Company also cancelled 1,931,835 outstanding stock options and replaced them with 997,909 restricted share units, and amended the vesting terms of 1,075,000 restricted share units. The appointment of Baker Tilly WM LLP as the new auditor was announced, following the resignation of Deloitte LLP effective July 14, 2026. The Company projects that the Omnibus Plan Amendment, the grant of the Replacement RSUs, and the RSU Amendment are subject to disinterested shareholder approval at the AGM on August 21, 2026 and acceptance by the TSXV.

Lithium Africa Advances Multiple Strategic Catalysts Under New CEO

(TSXV: LAF, OTCQB: LTAFF) Lithium Africa Corp. announced a corporate update following Dr. Thomas Benson's appointment as Chief Executive Officer, effective July 1, 2026. The Company is actively drilling at both its anchor projects: a 3,500-meter diamond and reverse-circulation program at the Springbok Project in South Africa and a 2,000-meter reverse-circulation program at the Adzopé Project in Côte d'Ivoire. Lithium Africa is backed by Ganfeng Lithium Group Co., Ltd., its largest strategic shareholder (~13.2%) and 50/50 joint venture partner. The Springbok land position covers approximately 1,675 km² and includes more than 40 spodumene-bearing pegmatites, with historical drilling at Norrabees returning intervals including 32.7 m at 1.09% Li2O and 18.34 m at 1.92% Li2O. The Company continues to advance the potential sale of its approximately 30,000-tonne ore stockpile at Norrabees as a non-dilutive source of exploration capital, with assay results from the resampling program expected in the coming weeks. The Company has agreed to settle outstanding indebtedness of approximately C$15,000 through the issuance of 10,000 common shares at a deemed price of C$1.50 per share. The company projects that Ganfeng (~13.2%) is expected to match exploration spend on the projects held within the 50/50 JV, and intends to fund multiple exploration programs each year while minimizing share dilution.

Lithium Africa To Sponsor and Speak at Fastmarkets Global Lithium, Battery & Critical Materials Conference In Las Vegas

(TSXV:LAF) Lithium Africa Corp. announced that it is a sponsor of the Fastmarkets Global Lithium, Battery & Critical Materials Conference, taking place June 22-25, 2026 in Las Vegas, Nevada. Dr. Tom Benson, Director of Lithium Africa, will participate in the panel "Africa's Growing Influence on Global Lithium Supply, Demand and Pricing" on June 24, 2026, from 11:25 AM to 12:05 PM. The company has established a 50/50 joint venture partnership with GFL International Co., Ltd. to advance lithium exploration across Africa. Through this partnership, Lithium Africa holds an indirect 50% interest in a portfolio of hard rock lithium assets across South Africa, Côte d'Ivoire, Guinea, Mali, and Zimbabwe. Tyron Breytenbach is the Chief Executive Officer of Lithium Africa. The company states that forward-looking statements in the release include its participation in the Fastmarkets conference and its plans and programs for its exploration portfolio in Africa. The Fastmarkets conference brings together leading producers, investors, automakers, and policymakers from across the lithium and battery materials sector.

Lithium Africa Outlines Path to Prove Out the Springbok District

(TSXV:LAF) Lithium Africa Corp. announced an update on its Springbok Project in the Northern Cape, South Africa, including the planned commencement of a 1,500-meter diamond plus 2,000-meter reverse circulation drilling campaign in July 2026. The Springbok Project includes a past-producing lithium pegmatite mine ('Norrabees') and a 30,000 tonne stockpile, with a historical inferred mineral resource of 41,420 tonnes at 1.01% Li₂O for in-situ pegmatite and 30,259 tonnes at 1.61% Li₂O for the stockpile, totaling 71,679 tonnes at 1.27% Li₂O. The company has completed a stockpile resampling program, with assay results expected in the coming weeks, and is advancing the potential sale of the existing stockpile with multiple counterparties engaged in due diligence. Camp upgrades are underway and expected to be completed by July 2026 to support the drill program, and Section 11 consent for the acquisition of a 70% shareholding in Namli is expected in the coming weeks. Lithium Africa has incorporated Springbok Lithium Pty Ltd, a wholly-owned South African subsidiary, to operate the project and has established a 50/50 joint venture partnership with GFL International Co., Ltd. for lithium exploration across Africa. The company projects the commencement of the 3,500 m drill program at Norrabees in July 2026 and the conclusion of the resampling and sale process for the project's existing spodumene stockpile. Additional technical personnel are mobilizing to site through June, and community engagement activities have been conducted with local stakeholders.

Lithium Africa to Commence 2,000 m Drill Program at Adzopé and Provides Côte d'Ivoire Exploration Update

Lithium Africa Corp. (TSXV: LAF) announced the commencement of its first 2,000 m reverse circulation drill program at Adzopé, Côte d'Ivoire, scheduled for late April 2026. The program targets the Saby Trend, a lithium-bearing corridor defined by prior auger drilling, trenching, and mapping. Significant trenching results at Adzopé include 8.0 m at 1.10% Li₂O from 31.4 m, with a peak interval of 1.0 m at 1.74% Li₂O. Exploration and mapping continue at Agboville and Sikensi, with ongoing community engagement and a 50/50 joint venture partnership with GFL International Co., Ltd. The company holds an indirect 50% interest in lithium assets across South Africa, Côte d'Ivoire, Guinea, Mali, and Zimbabwe.