• Parties execute formal joint venture agreement and mineral rights sharing agreement
• Earn-in period extended by 2 years, total Stage 2 commitment reduced to $14M
• 16 tenements released from JV, returning to 100% Dynamic Metals ownership

Dynamic Metals Limited (ASX: DYM) has provided an update on the Widgiemooltha Lithium Joint Venture with Mineral Resources Limited (ASX: MIN). The companies have executed a formal joint venture agreement and mineral rights sharing agreement, based on the March 2024 binding term sheet. The parties agreed to minor variations to the original term sheet, including an addition of two years to the Stage 2 Earn-In Period, now 6 years from the JV Commencement Date (12 July 2024), the release of 16 tenements from the Joint Venture (JV) which return to 100% DYM ownership, and a reduction of the Stage 2 Earn-In requirement from $15m to $14m. All other material terms of the JV remain the same. The final payment of $1m for 40% lithium mineral rights (Stage 1) has been received by Dynamic. The revised structure reflects a collaborative and pragmatic approach by both parties in light of the current challenges facing the lithium sector. Dynamic will continue to focus on the gold opportunities in the remainder of its portfolio.