Liontown has executed a binding farm-in agreement with Next Lithium Corp. to earn up to a 100% interest in the Centenario lithium brine exploration project located in Salta Province, Argentina.

Highlights:

• Liontown opens a new growth frontier in lithium brine, complementing its tier-one Kathleen Valley hard rock operation in Western Australia by entering into a strategic partnership with NEXT Lithium Corp. to farm into its Centenario lithium brine exploration project in Salta, Argentina.
• Staged pathway to acquire up to 100% of the Project based on US$40 million (~A$56 million) of Project expenditure over a four-year period along with associated milestone payments comprising cash, Liontown shares or a combination of both at NEXT Lithium’s election.
• Initial consideration payable upon the farm-in agreement becoming unconditional comprises US$5 million (~A$7 million) in cash and US$10 million (~A$14 million) in Liontown shares.
• Project located in prospective area geographically proximate to the Pozuelos-Pastos Grandes project and Centenario-Ratones operation.