GT1 MONTHLY UPDATE - NOVEMBER 2022

CAPTAINS UPDATE - NOVEMBER 2022

We have released some exciting news during the month of November including Blue Bear, the first spodumene-bearing pegmatite discovery in 50 years at our Flagship Seymour project and our second lithium project Root has also continued to produce outstanding results with the highest grade drill intercept returned to date of 4.06% Li2O from the McCombe deposit. On the ground in Canada, snow is starting to fall but that is not going to stop us progressing our projects. During the summer months the team have made outstanding progress preparing to rapidly drill through the coming months. With 4 drill rigs now operating 24/7, clearing completed and all-weather roads set up, our projects will be easily accessible for both our crews and equipment and two all-weather fully mobilised camps set-up at both projects means drilling will not stop. At Seymour we are now driving hard with ongoing diamond drilling and channel sampling rapidly delineating the Blue Bear deposit. This new discovery has given us confidence that our exploration model is working, and we are now testing further new targets in the North Seymour area to culminate an updated Mineral Resource estimate for the Seymour Project on track to be released in Q1 2023. Even bigger news has come from our second project Root this month which has turned out to be, bigger, thicker and higher grade than we anticipated. Outstanding results have been returned from Root and as we are progressing our resource definition on the McCombe deposit, we are discovering, to the east, our second prospect area Morrison is looking like it is connecting to McCombe deposit to form several Km's of pegmatites. To the east of McCombe there is another priority target we are eager to start drlling, Root Bay which has had no historic drill testing but has already returned high grade channel samples. Root is turning into a much bigger project than we anticipated and we are excited to see what is to come as we work towards releasing the maiden resource estimate next quarter. Matt Herbert has been leading our operations in Ontario, Canada over the past 12 months and has established a strong, highly skilled team to deliver on our strategy of becoming a pre-eminent integrated lithium business in Ontario. I would like to congratulate Matt on his promotion to Chief Operating Officer, it is well deserved and recognised with the achievements we have made during the past year. On a corporate front we have continued our discussions with multiple Canadian Government agencies, specifically in the Ontario region who are driving a critical minerals supply chain strategy. They already have the car manufacturers, battery manufactures and the CAN manufacturers in place but are missing a critical element which is the lithium to feed the supply chain, which is where GT1 fit in. We have been recognised by the Ontario government as having the strongest credentials to be the first mover in Ontario and our discussion have been around various ways the Government can provide support and funding as we accelerate the development of our operations. Canada is providing billions of dollars in public funds to the sector over the coming years through federal and provincial programs and over the next few months you will see Canada release a new critical minerals strategy and take steps towards a similar IRA to the U.S. GT1 continue workforce planning to ensure we have access to the skilled workforce we will require at the time our mine reaches its production phase. Matt met with the Minister of Economic Development, Job Creation and Trade and Ministry of Municipal Affairs and Housing discussing the provinces approach to critical minerals and how we can help one another. You can expect to see some updated drill results and updates to our Met test work program in the coming weeks and stay turned for Q1 next year, where you will continue to see more drill results, updates of new targets at both lithium projects, along with the delivery of GT1's integrated PEA for first phase of our supply chain.

Luke Cox - CEO