• Surface mining contract awarded to NRW Pty Ltd for open pit mining at Grants deposit
• Mobilisation to commence immediately with mining and ore production in May 2026
• Grants provides a low risk, near term source of ore using existing infrastructure

Core Lithium Ltd (ASX:CXO) has awarded a surface mining services contract to NRW Pty Ltd for open pit mining at the Grants deposit, part of the Company's wholly owned Finniss Lithium Operation in the Northern Territory. The scope of works under the ~$50 million contract includes all key activities related to the delivery of material to the Grants Run of Mine (ROM) under a standard schedule of rates. The contract award is an important first step in the restart of operations at the Finniss, after the Company's recent Final Investment Decision approval. The incorporation of Grants' open-pit mining into the Finniss mine plan provides a near-term production pathway and a rapid feed source for the Finniss processing plant, enabling an accelerated production timeline at a lower initial capital cost. The optimised Grants Pit design provides access to ~784kt of ore within the existing open pit and is expected to deliver approximately 134kt of SC5 product. Ore from Grants will be processed and hauled during the September quarter, with the first spodumene concentrate shipment targeted early in the December quarter, with further shipments into CY2027. In addition to the award of the surface mining contract, the Company has commenced the BP33 box cut and civil infrastructure site works, providing a clear execution pathway for the Finniss restart delivering a staged, lower-risk ramp-up profile. Grants represents a low-risk bridging opportunity while the BP33 underground development progresses in parallel. Combined, the Grants and BP33 developments position Finniss as a lower cost, long-life, brownfield lithium operation with a shorter path to nameplate production.

The Grants Pit design provides access to ~784kt of ore and is expected to deliver approximately 134kt of SC5 product. Ore from Grants will be processed and hauled during the September quarter, with the first spodumene concentrate shipment targeted early in the December quarter, with further shipments into CY2027.