• Acquires remaining 25% interest in the Lelouma Bauxite Project in Guinea
• Lelouma has a total JORC-compliant Mineral Resource of 900 million tonnes at 45.0% Al2O3 and 2.1% SiO2
• Targeting production of Direct Shipping Ore without processing or beneficiation

Lindian Resources Limited (ASX: LIN) has executed a binding Share Purchase Agreement to acquire the remaining 25% interest in the Lelouma Bauxite Project in the Republic of Guinea, giving the company 100% ownership of the globally significant Tier 1 asset. The Lelouma Bauxite Project has a total JORC-compliant Mineral Resource of 900 million tonnes at 45.0% Al2O3 and 2.1% SiO2, including 398Mt at 48.1% Al2O3 (measured and indicated) with continuous zones of exceptional quality material (>50% Al2O3). Lindian is targeting production of Direct Shipping Ore (DSO) from the project without the requirement for processing or beneficiation. The acquisition eliminates near-term ownership dilution risk and financial commitments related to the original project acquisition. A new in-country management team will be implemented to manage regulatory approvals, project development, offtake partners and infrastructure studies. Discussions are well advanced with potential port and infrastructure partners. The company believes this is the best possible outcome as it can now work on the project unencumbered by conditions, milestones and timelines, saving millions of dollars and returning 100% of the project's value to Lindian shareholders.

The company is in negotiations for the services of a new in-country management team who will focus entirely on the development of the Lelouma project, including permitting, government concessions, government relations, port and rail access and product off-take agreements.