FRONTIER LITHIUM HIGHLIGHTS RECENT DEVELOPMENTS, RESULTS FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2025 AND AGM RESULTS

Key Takeaways:

• Frontier Lithium holds $14.9 million in cash and equivalents.
• The company’s last drilling ended in September 2024, with comprehensive data in a technical report.
• A Mine and Mill Feasibility Study projects a 31-year mine life, post-tax NPV of $932 million, and IRR of 17.9%.
• Competitive cost structure at $602 per tonne of concentrate.
• A new Lithium Conversion Facility Feasibility Study seeks to expand downstream integration.

Financial Position

Frontier Lithium confirms it had $14.9 million in cash and cash equivalents as of September 30, 2025, supplemented by $909,000 in government funding reimbursements and $634,000 from stock option exercises. According to the company, these reserves position Frontier Lithium to pursue critical strategic objectives while meeting ongoing corporate requirements.

Project Overview and No New Drilling

The PAK Lithium Project remains Frontier Lithium’s flagship endeavor, aiming to establish a fully integrated mine and chemical processing facility for battery-grade lithium carbonate and hydroxide. The company has not conducted new drilling since September 2024, relying on previously documented results from Phase I through Phase XIV to guide ongoing planning.

Feasibility Study Highlights

Frontier Lithium’s Mine and Mill Feasibility Study (“Mine and Mill FS”), dated effective May 28, 2025, outlines a standalone operation producing 200,000 tonnes per year of 6% Li2O spodumene concentrate (SC6).

• Post-tax Net Present Value (NPV) at 8% discount: $932 million
• Post-tax Internal Rate of Return (IRR): 17.9%
• 31-year mine life, supported by average grades of 1.96% Li2O at the PAK deposit and 1.44% Li2O at Spark
• C1 Operating Cost: $602 per tonne of concentrate sold
• Assumptions include a chemical grade lithium concentrate price of US$1,475/tonne and a USD/CAD exchange rate of 1.37

Environmental Considerations

Permit-related activities and environmental baseline studies continue alongside the technical work needed to advance the project. These steps are essential for ensuring regulatory compliance and safeguarding environmental standards, a priority as the project progresses toward full-scale operations.

Looking Ahead

As part of its plan to offer integrated lithium solutions, Frontier Lithium has launched a Lithium Conversion Facility Feasibility Study. Led by Fluor Canada Ltd., this review aims to assess the viability of producing higher-value lithium carbonate and lithium hydroxide, feeding the rapidly expanding North American battery sector.