FL1 Company Update

• Licences pending processing in Mali
• Debt converted to equity
• New funding arrangement finalized
• Half-year review finalization pending

First Lithium Limited (FL1) has announced significant progress in its operations, including the government of Mali confirming that the licence renewal documentation for the Gouna and Faraba licences has progressed to processing and cabinet approval. The company has also finalized the conversion of balance sheet debt to equity, freeing up capital for new funding. FL1 has secured a strategic loan of up to $1,200,000 from sophisticated and professional investors, including existing substantial shareholders. The company expects to finalize its outstanding half-year review, which will lead to the reinstatement of trading on the ASX.

First Lithium Ltd expects to finalize the outstanding half-year review.

First Lithium Ltd anticipates completion of the outstanding half-year review, leading to commencing the process to reinstatement of trading on the ASX.