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2019

Piedmont Lithium June 2019 Quarterly Report

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NEW YORK – Piedmont Lithium Limited (ASX: PLL; NASDAQ: PLL) (“Piedmont” or “Company”) is pleased to present its June 2019 quarterly report. Highlights during and subsequent to the quarter were:

  • Increased total Mineral Resources for the Piedmont Lithium Project (“Project”) by 72% to 27.9 million tonnes (“Mt”) at a grade of 1.11% Li2O following:

    • anupdated Mineral Resource estimate for the Company’s Core property, increasing the Core property Mineral Resources to 25.1 Mt at a grade of 1.09% Li2O; and
    • an initial Mineral Resource estimate for the Company’s Central property, located approximately one mile south of the Core property, of 2.8 Mt at a grade of 1.34% Li2O.
  • Completed mineralogical analysis on samples of mineralized pegmatites and composite samples from the Project demonstrating that lithium occurs almost exclusively within spodumene in the Project’s ore body.
  • Completed PFS-level metallurgical test work demonstrating high quality spodumene concentrate product with a grade above 6.0% Li2O, iron oxide below 1.0%, and low impurities from representative bulk samples using a combination of Dense Medium Separation (“DMS”) and flotation technology.
  • Continued the 25,000-meter Phase 4 drill program, where a total of 94 holes have been completed to date for a total of 15,738 meters.
  • Substantially completed engineering for the planned Scoping Study update to integrate updated Mineral Resources, latest metallurgical testwork, flowsheet optimization and updated costs.
  • Continued numerous preliminary off-take, financing and strategic conversations, including companies from the lithium, mining, chemicals, battery, automotive and private equity sectors.
  • After quarter end, on July 10th, Piedmont completed an institutional placement of 145 million shares at A$0.145 per share to raise gross proceeds of A$21 million, led by cornerstone investor, Fidelity International (“Fidelity”) and the Company’s largest shareholder, AustralianSuper.

Next steps:

  • Complete an updated Scoping Study based on updated Mineral Resources, latest metallurgical testwork, flowsheet optimization and updated costs.
  • Continue Phase 4 drilling and expansion of the Company’s land position in the Carolina Tin-Spodumene Belt (“TSB”) with a focus on areas of high mineral prospectivity.
  • Complete permit applications and secure the necessary permits and approvals to commence mining and processing operations at the Project.
  • Advance development of the Company’s proposed lithium hydroxide chemical plant including metallurgical testwork for the conversion of spodumene concentrate produced from Piedmont ore.

To view the full ASX Announcement, click here.

Keith D. Phillips

President & CEO
T: +1 973 809 0505

E: keith@piedmontlithium.com

Anastasios (Taso) Arima

Executive Director

T: +1 347 899 1522

E: taso@piedmontlithium.com

Piedmont Lithium Announces Outstanding PFS-level Metallurgical Results

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  • Testwork confirms ability to produce high-grade, low impurity spodumene concentrate
  • Flow sheet adjusted to incorporate a combination of DMS and flotation processing
  • Process simulations based on testwork results support a design basis of 85% lithium recovery
  • Mineralogy shows spodumene as the only lithium bearing mineral in concentrate
  • Optimization to further improve recoveries will be undertaken during Definitive Feasibility Study
  • Updated flow sheet will be reflected in a Scoping Study update expected in the next 30 days

NEW YORK – Piedmont Lithium Limited (“Piedmont” or “Company”) is pleased to announce positive results from pre-feasibility study (“PFS”) level metallurgical test work conducted on composite samples of ore from the Piedmont Lithium Project (“Project”) performed at SGS testing laboratories in Lakefield, Ontario.

Dense Medium Separation (“DMS”) and flotation Locked-Cycle Tests (“LCT”) test work results showed high quality spodumene concentrate product with a grade above 6.0% Li2O, iron oxide below 1.0%, and low impurities from composite samples. Piedmont test results compare favorably in several quality categories with the reported shipments of three emerging Australian spodumene producers.

Table 1: Results of Dense Medium Separation + Locked Cycle Flotation Test Results (Composite Sample 1)

Sample

Feed

Grade

Li2O (%)

Concentrate

Grade Li2O

(%)

Fe2O3 (%)

Na2O (%)

K2O (%)

CaO+

MgO +

MnO (%)

P2O5 (%)

Piedmont Composite Sample 1

1.11

6.35

0.93

0.63

0.49

0.96

0.32

Australian Producer 1

NR

6.00

1.20

NR

NR

NR

NR

Australian Producer 2

NR

5.90

1.50

NR

NR

NR

NR

Australian Producer 3

NR

6.10

0.61

0.80

0.76

0.79

0.30

NR: Not Reported

The composite samples were prepared to approximate the average grade of the Project’s ore body. Overall lithium recovery during testwork for the preferred flowsheet was 77% at a grade of 6.35% Li2O. Simulations based on the testwork results support an overall plant design recovery of 85% when targeting a 6.0% Li2O spodumene concentrate product. Further optimization will be undertaken in a future feasibility level pilot testwork program.

The Company’s forthcoming Scoping Study update will incorporate the updated flow sheet developed during this test work program. The benefit of incorporating DMS technology into the flow sheet will be reduced operating costs and accelerated ramp-up.

Keith D. Phillips, President and Chief Executive Officer, commented: “We are very pleased with the results of this PFS-level testwork program, which confirms the outstanding mineralogy and metallurgy of the Piedmont Lithium Project. We look forward to reflecting these strong results in our forthcoming Scoping Study update, which will also incorporate the substantially larger mineral resource announced in June as well as several other constructive refinements.”

Click here to view the full ASX Announcement.

Keith D. Phillips

President & CEO

T: +1 973 809 0505

E: kphillips@piedmontlithium.com

Anastasios (Taso) Arima

Executive Director

T: +1 347 899 1522

E: tarima@piedmontlithium.com

Completion of Institutional Placement

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Piedmont Lithium Limited (ASX: PLL; Nasdaq: PLL) (“Piedmont” or “Company”) is pleased to announce that it has completed its previously announced placement of 145 million shares at an issue price of A$0.145 per share to institutional investors to raise gross proceeds of A$21 million (“Placement”).

Proceeds from the Placement will be used to complete a definitive feasibility study (“DFS”) and provide funding for the Company to continue development of its 100% owned Piedmont Lithium Project (“Project”) located in the world-class Carolina Tin-Spodumene Belt (“TSB”) in the United States, including additional drilling to upgrade the Project’s Inferred resources to Indicated resources, additional metallurgical testwork and engineering studies, ongoing land consolidation, and general working capital.

The Company expects to complete a detailed metallurgical testwork program followed by an updated Scoping Study in the coming weeks.

An Appendix 3B and Section 708A Notice is attached.

Institutional Placement to Raise A$21 Million

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Piedmont Lithium Limited (ASX: PLL; Nasdaq: PLL) (“Piedmont” or “Company”) is pleased to announce that it has received commitments to place 145 million shares at an issue price of A$0.145 per share to institutional investors to raise gross proceeds of A$21 million (“Placement”).

The Placement was led by cornerstone investor, Fidelity International (“Fidelity”), a global asset manager. Fidelity will subscribe for 74 million shares and will become a substantial shareholder of the Company.

The Company is also pleased that its largest shareholder, AustralianSuper, the largest industry super fund in Australia, has agreed to subscribe for 19 million shares to maintain its pro-rata 13% position,
further confirming its continued support for the Company and its Piedmont Lithium Project.

The order book was rounded out with a number of high-quality Australian and Asian institutions, including some existing shareholders and others new to the Piedmont story.

Mr. Keith Phillips, President and CEO, said: “We are extremely pleased to welcome Fidelity to our register as a substantial shareholder, and for the continued support of AustralianSuper and several other quality institutional investors in our Company participating based on their strong confidence in the quality of our Piedmont Lithium Project and the prospects for our Company. Securing these funds
will allow us to maintain our ambitious development timetable for what we believe to be the world’s most strategically located lithium project.”

Proceeds from the Placement will be used to complete a definitive feasibility study (“DFS”) and provide funding for the Company to continue development of its 100% owned Piedmont Lithium Project
(“Project”) located in the world-class Carolina Tin-Spodumene Belt (“TSB”) in the United States, including additional drilling to upgrade the Project’s Inferred resources to Indicated resources, additional metallurgical testwork and engineering studies, ongoing land consolidation, and general working capital.

The issue price of A$0.145 represents a 9% discount to the last closing price of A$0.16 and an 11% discount to the 20-day VWAP of A$0.163. The Company expects to issue the Placement shares on or
about 10 July 2019 and will issue the shares under Listing Rules 7.1 and 7.1A.

Shaw and Partners Limited and Aitken Murray Capital Partners acted as Joint Lead Managers to the Placement and Taylor Collison Limited and Foster Stockbroking acted as co-managers.

Piedmont Increases Lithium Resource by 47% to 27.9 Million Tonnes

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  • 47% increase in Piedmont Project-wide Mineral Resource estimate to 27.9 Mt @ 1.11% Li2O
  • 55% increase in Mineral Resource estimate on Core property to25.1 Mt @ 1.09% Li2O
  • 74% of the Core property resource is within 100m of surface and 97% is within 150m of surface
  • 100% of the lithium resource is attributed to spodumene mineralization
  • Core property Resource is based on 326diamond coreholes totalling over 51,000 meters
  • 9,450 meters of drilling remain in Phase 4 drill campaign with numerous highly prospective targets

 

NEW YORK – Piedmont Lithium Limited (“Piedmont” or “Company”) is pleased to announce a major update to the Mineral Resource estimate for the Company’s wholly-owned Piedmont Lithium Project (“Project”) located within the world-class Carolina Tin-Spodumene Belt (“TSB”) in North Carolina, USA (Table 1).

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190625005273/en/

Figure 1:  Piedmont Lithium Project Showing Resource, Resource Shells and New Exploration Target Areas (Graphic: Business Wire)

Figure 1:  Piedmont Lithium Project Showing Resource, Resource Shells and New Exploration Target Areas (Graphic: Business Wire)

The Mineral Resource for the Core property has increased to 25.1 million tonnes (“Mt”) at a grade of 1.09% Li2O, bringing the Project’s total Mineral Resources to 27.9 Mt at a grade of 1.11% Li2O, containing 309,000 tonnes of lithium oxide (“Li2O”) or 764,000 tonnes of lithium carbonate equivalent (“LCE”) (the benchmark used in the lithium industry).

Table 1: Project Wide Mineral Resource Estimate for the Piedmont Lithium Project (0.4% cut-off)

Resource Category

Core property

Central property

Total

Tonnes (Mt)

Grade (Li2O%)

Tonnes (Mt)

Grade (Li2O%)

Tonnes (Mt)

Grade (Li2O%)

Li2O

(t)

LCE

(t)

Indicated

12.5

1.13

1.41

1.38

13.9

1.16

161,000

398,000

Inferred

12.6

1.04

1.39

1.29

14.0

1.06

148,000

366,000

Total

25.1

1.09

2.80

1.34

27.9

1.11

309,000

764,000

Importantly, 74% of the Core Mineral Resource is within 100m of surface and 97% is within 150m of surface. Approximately 50%; or 12.5 million tonnes of the Mineral Resource is classified in the Indicated Resource category. All of the Mineral Resource tonnes at both Core and Central properties are attributable to spodumene mineralization.

The Company expects to complete a pre-feasibility level metallurgical testwork program followed by a Scoping Study update in July 2019.

Keith D. Phillips, President and Chief Executive Officer, commented: “We are very pleased with the resource update at our Core property, bringing our total project-wide resources to 27.9Mt at 1.11% Li2O. As we expand our land holdings and drill out other highly prospective targets, we are optimistic that we will ultimately identify North America’s largest spodumene ore body. This scale, combined with high grade, strong mineralogy and metallurgy, and our superior location in North Carolina, all support the unique strategic nature of the Piedmont Lithium Project.

Click here to view full ASX Release.

Keith D. Phillips | President & CEO

T: +1 973 809 0505

E: kphillips@piedmontlithium.com

Anastasios (Taso) Arima |Executive Director

T: +1 347 899 1522

E: tarima@piedmontlithium.com

Pure Spodumene Nature of Piedmont Lithium Ore Body

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  • XRD analysis confirms pure spodumene nature of Piedmont’s ore body
    • Absence of petalite and lepidolite in pegmatites expected to
      lead to high lithium recovery
  • Mineralogy consistent across Piedmont’s Core, Central, and
    Sunnyside properties
  • Piedmont on-track to release Resource, Metallurgy and Scoping Study
    updates in the next 60 days

NEW YORK – Piedmont Lithium Limited (“Piedmont” or “Company”) is
pleased to announce the completion of mineralogical analysis on samples
of mineralized pegmatites and composite samples from Piedmont’s Core,
Central, and Sunnyside Properties. All testwork to date effectively
demonstrates that lithium occurs almost exclusively within spodumene in
Piedmont’s mineral resource.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20190618005279/en/

Distribution of XRD Samples from Mineralized Pegmatites from Piedmont Properties (Graphic: Business ...

Distribution of XRD Samples from Mineralized Pegmatites from Piedmont Properties (Graphic: Business Wire)

 
Table 1: Average XRD Analysis Results from 46 Drill Core and
Composite Samples of Piedmont Ore
Mineralogy     Average Wt. (%) of Mineral Types
Core Property     Central Property     Sunnyside Property
    Semi-quantitative Samples

(13 Samples)

     Quantitative Samples

(19 Samples)

     Composite Variability Samples

(10 Samples)

     Quantitative Samples

(3 Samples)

     Quantitative Sample

(1 Sample)
Lithium-bearing minerals     Spodumene     17.8     19.9     16.6     15.9     14.8
Petalite     –     –     –     –     –
Lepidolite     –     –     –     –     –
Zinnwaldite     –     –     –     –     –
    Holmquistite     –     –     0.5     –     –
Non-lithium bearing minerals     82.2     80.1     82.9     84.1     85.2
Total     100     100     100     100     100
               

Piedmont has been advised that the character of its ore body is unusual
and highly positive, which will allow for a simplified flowsheet to
produce strong lithium recoveries. Many of the spodumene projects
currently producing or under development contain multiple
lithium-bearing minerals (petalite, lepidolite, zinnwaldite, etc. as
well as spodumene).

Keith D. Phillips, President and Chief Executive Officer, commented: “As
the market’s understanding of lithium processing evolves, it will become
increasingly clear that mineralogy and metallurgy are the fundamental
building blocks of a successful hard-rock lithium business.Our
testwork confirms what we have always suspected – the Carolina
Tin-Spodumene Belt is exceptional not only in scale but in terms of
mineralogy.When combined with the shallow nature of our ore body
and the capital and operating cost advantages of our location, we are
excited about the upcoming resource, metallurgical and scoping study
updates.”

Click
here to view the full ASX Announcement.

Keith D. Phillips
President & CEO
T: +1 973 809 0505
E:
kphillips@piedmontlithium.com

Anastasios
(Taso) Arima
Executive Director
T: +1 347 899 1522
E: tarima@piedmontlithium.com

Additional near-Surface High Grade Drill Results from Piedmont’s Core Property

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  • Piedmont has received assay results from 41 additional drill holes
    from the Phase 4 drilling campaign, with 40 of the 41 holes reporting
    significant mineralization, including:

    • 17.0m @ 1.60% Li2O from 75mand
      6.6m @ 1.44% Li      2O from 64m in Hole
      19-BD-295
    • 14.9m @ 1.76% Li2O from 27m and 4.3m @
      0.95% Li      2O from 52m in Hole 19-BD-298
  • Occurrence of shallow intercepts is consistent with prior results
    on Piedmont’s Core property
  • An additional 18 Phase 4 holes have been drilled with assays pending
  • Piedmont is on track to report a significant increase in Mineral
    Resource estimates in June 2019
  • Scoping Study update with materially extended life of mine targeted
    for July 2019

NEW YORK – Piedmont Lithium Limited (“Piedmont” or “Company”) is
pleased to announce Phase 4 drill results for 41 drill holes (refer to
Appendix 1) completed on the Piedmont Lithium Project (“Project”)
located within the world-class Carolina Tin-Spodumene Belt (“TSB”)
in North Carolina, USA. The results are from Exploration Target areas
and new properties within the Project’s Core property (“Core”)
(Figure 1). Significant mineralization was encountered in 40 of the 41
holes reported.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20190529005244/en/

Property Location Map (Graphic: Business Wire)

Property Location Map (Graphic: Business Wire)

Phase 4 drilling continues to expand the extent and continuity of the
pegmatite system on Core, thus giving confidence in a significant
Mineral Resource estimate update in June. In 2018, the Company announced
a Mineral Resource estimate at Core of 16.2Mt @ 1.12% Li2O
which supported a 13-year project life as reported in the Company’s
Scoping Study announced in September 2018. In April 2019 the Company
announced an increased Mineral Resource estimate of 19.0Mt @ 1.15% Li2O
inclusive of a Mineral Resource estimate at the Company’s Central
property.

Keith D. Phillips, President and Chief Executive Officer, commented: “We
are very pleased with these interim results from Phase 4 drilling, which
continue to highlight high-grade mineralization near-surface.The
shallow nature of the ore body, combined with pure spodumene mineralogy,
local by-product markets and exceptional infrastructure, are important
factors which should position the Piedmont Lithium Project in the first
quartile of the cost curve. We look forward to reporting a significant
increase to our property-wide resource in June, and to reflecting that
enlarged resource in an updated scoping study in July.”

Click
here to view the full ASX Announcement.

For further information, contact:
Keith D. Phillips
President
& CEO
T: +1 973 809 0505
E: kphillips@piedmontlithium.com

Anastasios (Taso) Arima
Executive Director
T: +1 347
899 1522
E: tarima@piedmontlithium.com

Piedmont Lithium to Host Investor Webinar on May 29 to Provide Update on Recent Developments

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NEW YORK –
Piedmont Lithium Limited (ASX:PLL; NASDAQ:PLL) (“Piedmont” or
“Company”) announced today that it will participate in an investor
webinar and Q&A session on Wednesday, May 29, 2019, at 1:00 p.m. EDT
hosted by RedChip Companies.

The webinar will feature a presentation by Keith Phillips, President and
CEO, who will discuss recent developments and upcoming milestones at the
Company’s world-class lithium project in North Carolina. Please note
that this webinar was pre-recorded using a prior company presentation.

To view the webinar, please visit: https://www.redchip.com/events/41/piedmont-lithium-webinar

About Piedmont Lithium

Piedmont Lithium Limited (ASX:PLL; Nasdaq:PLL) holds a 100% interest in
the Piedmont Lithium Project located within the Carolina Tin-Spodumene
Belt (“TSB”) and along trend to the Hallman Beam and Kings Mountain
mines, which historically provided most of the western world’s lithium
between the 1950s and the 1980s. The TSB has been described as one of
the largest lithium regions in the world and is located approximately 25
miles west of Charlotte, North Carolina.

In September 2018 the Company published a Scoping Study for an
integrated lithium hydroxide business based on a maiden Mineral Resource
estimate of 16.2 million tonnes (“Mt”) grading at 1.12% Li2O which
featured a 13-year project life, NPV8 of US$888 million, a US$3,112 per
tonne lithium hydroxide operating cost, and a US$193 per tonne spodumene
concentrate operating cost.

Forward Looking Statements

This announcement may include forward-looking statements. These
forward-looking statements are based on Piedmont’s expectations and
beliefs concerning future events. Forward looking statements are
necessarily subject to risks, uncertainties and other factors, many of
which are outside the control of Piedmont, which could cause actual
results to differ materially from such statements. Piedmont makes no
undertaking to subsequently update or revise the forward-looking
statements made in this announcement, to reflect the circumstances or
events after the date of that announcement.

Cautionary Note to United States Investors Concerning Estimates of
Measured, Indicated and Inferred Resources

The information contained in this announcement has been prepared in
accordance with the requirements of the securities laws in effect in
Australia, which differ from the requirements of U.S. securities laws.
The terms “mineral resource”, “measured mineral resource”, “indicated
mineral resource” and “inferred mineral resource” are Australian terms
defined in accordance with the 2012 Edition of the Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore Reserves
(the “JORC Code”). However, these terms are not defined in Industry
Guide 7 (“SEC Industry Guide 7”) under the U.S. Securities Act of 1933,
as amended (the “U.S. Securities Act”), and are normally not permitted
to be used in reports and filings with the U.S. Securities and Exchange
Commission (“SEC”). Accordingly, information contained herein that
describes Piedmont’s mineral deposits may not be comparable to similar
information made public by U.S. companies subject to reporting and
disclosure requirements under the U.S. federal securities laws and the
rules and regulations thereunder. U.S. investors are urged to consider
closely the disclosure in Piedmont’s Form 20-F, a copy of which may be
obtained from Piedmont or from the EDGAR system on the SEC’s website at http://www.sec.gov/.

Competent Persons Statement

The information in this announcement that relates to Exploration Results
is based on, and fairly represents, information compiled or reviewed by
Mr. Lamont Leatherman, a Competent Person who is a Registered Member of
the ‘Society for Mining, Metallurgy and Exploration’, a ‘Recognized
Professional Organization’ (RPO). Mr. Leatherman is a consultant to the
Company. Mr. Leatherman has sufficient experience that is relevant to
the style of mineralization and type of deposit under consideration and
to the activity being undertaken to qualify as a Competent Person as
defined in the 2012 Edition of the ‘Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves’. Mr. Leatherman
consents to the inclusion in the report of the matters based on his
information in the form and context in which it appears.

The Project’s Mineral Resource of 16.2Mt @ 1.12% Li2O comprises
Indicated Mineral Resources of 8.5Mt @ 1.15% Li2O and Inferred Mineral
Resources of 7.7Mt @ 1.09% Li2O. The information in this announcement
that relates to Exploration Targets and Mineral Resources is extracted
from the Company’s ASX announcement dated June 14, 2018 which is
available to view on the Company’s website at www.piedmontlithium.com.
The information in this announcement that relates to Metallurgical
Testwork Results is extracted from the Company’s ASX announcements dated
September 4, 2018 and July 17, 2018 which are available to view on the
Company’s website at www.piedmontlithium.com.
The information in this announcement that relates to Process Design,
Process Plant Capital Costs, and Process Plant Operating Costs is
extracted from the Company’s ASX announcements dated September 13, 2018
and July 19, 2018 which are available to view on the Company’s website
at www.piedmontlithium.com.
The information in this announcement that relates to Mining Engineering
and Mine Schedule is extracted from the Company’s ASX announcements
dated September 13, 2018 and July 19, 2018 which are available to view
on the Company’s website at www.piedmontlithium.com.

Piedmont confirms that: a) it is not aware of any new information or
data that materially affects the information included in the original
ASX announcements; b) all material assumptions and technical parameters
underpinning Mineral Resources, Exploration Targets, Production Targets,
and related forecast financial information derived from Production
Targets included in the original ASX announcements continue to apply and
have not materially changed; and c) the form and context in which the
relevant Competent Persons’ findings are presented in this report have
not been materially modified from the original ASX announcements.

Keith D. Phillips
President & CEO
T: +1 973 809 0505
E: kphillips@piedmontlithium.com

Anastasios (Taso) Arima
Executive Director
T: +1 347 899 1522
E: tarima@piedmontlithium.com

Bruce Haase
RedChip Companies
407-644-4256, ext. 131
bruce@redchip.com

Piedmont Lithium Limited March 2019 Quarterly Report

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NEW YORK – Piedmont Lithium Limited (ASX: PLL; NASDAQ: PLL) (“Piedmont” or
“Company”) is pleased to present its March 2019 quarterly report.

Highlights during and subsequent to the quarter were:

  • Continued the 25,000-meter Phase 4 drill program, with three drill
    rigs active on the Core property, where a total of 69 holes have been
    completed to-date. An additional 15 holes have been completed on the
    Central property, including the Project’s best hole to date: 43.2m
    @ 1.73% Li    2O.
  • Increased overall land position of the Project by 52% to 2,105 acres.
    The Company’s Core property now comprises 1,004 acres, representing an
    86% increase from the Core property land position underlying the
    maiden Mineral Resource estimate.
  • Completed an initial Mineral Resource estimate for the Central
    property, located approximately one mile south of the Core property,
    increasing the Project’s total Mineral Resources to 19.0 million
    tonnes (“Mt”) at 1.15% Li    2O.
  • Submitted key permit applications for the Project, including a Section
    404 Standard Individual Permit application to the US Army Corps of
    Engineers (“USACE”) and a Section 401 Individual Water Quality
    Certification to the North Carolina Division of Water Resources
    (“NCDWR”).
  • Commenced the next level of metallurgical test work, including the
    evaluation of Dense Medium Separation (“DMS”) technology. Preliminary
    DMS results indicate the potential to include DMS circuitry in the
    Piedmont concentrator’s design.
  • Commenced engineering work for a planned updated Scoping Study to
    integrate updated Mineral Resources, latest metallurgical testwork,
    flowsheet optimization and updated costs. Engineering work is
    proceeding at a Pre-Feasibility Study (“PFS”) level.
  • Engaged in numerous preliminary off-take, financing and strategic
    conversations, including companies from the lithium, mining,
    chemicals, battery, automotive and private equity sectors.

Next steps:

  • Phase 4 drill program results will provide the basis for an updated
    Mineral Resource estimate scheduled for June, which is expected to
    extend the mine life for the Project.
  • Complete metallurgical studies, including evaluating the potential for
    a DMS before the flotation circuit, to further enhance operating costs
    in the concentrator.
  • Complete an updated Scoping Study based on updated Mineral Resources,
    latest metallurgical testwork, flowsheet optimization and updated
    costs.
  • Complete permit applications and secure the necessary permits and
    approvals to commence mining and processing operations at the Project;
    and
  • Continue expansion of the Company’s land position in the Carolina
    Tin-Spodumene Belt (“TSB”) with a focus on areas of high mineral
    prospectivity.

The entire report is available on the announcement page of the Company’s
website at https://ir.piedmontlithium.com/asx-announcements.

For further information, contact:

       

Keith D. Phillips

Anastasios (Taso) Arima
President & CEO Executive Director
T: +1 973 809 0505 T: +1 347 899 1522

E: keith@piedmontlithium.com

E: taso@piedmontlithium.com
 

Forward Looking Statements

This announcement may include forward-looking statements. These
forward-looking statements are based on the Company’s expectations and
beliefs concerning future events. Forward looking statements are
necessarily subject to risks, uncertainties and other factors, many of
which are outside the control of the Company, which could cause actual
results to differ materially from such statements. The Company makes no
undertaking to subsequently update or revise the forward-looking
statements made in this announcement, to reflect the circumstances or
events after the date of that announcement.

Cautionary Note to United States Investors Concerning Estimates of
Measured, Indicated and Inferred Resources

The Project’s Core Property Mineral Resource of 16.2Mt @ 1.12% Li2O
comprises Indicated Mineral Resources of 8.5Mt @ 1.15% Li2O
and Inferred Mineral Resources of 7.7Mt @ 1.09% Li2O. The
Central Property Mineral Resource of 2.80Mt @ 1.34% Li2O
comprises Indicated Mineral Resources of 1.41Mt @ 1.38% Li2O
and 1.39Mt @ 1.29% Li2O.

The information contained in this presentation has been prepared in
accordance with the requirements of the securities laws in effect in
Australia, which differ from the requirements of U.S. securities laws.
The terms “mineral resource”, “measured mineral resource”, “indicated
mineral resource” and “inferred mineral resource” are Australian terms
defined in accordance with the 2012 Edition of the Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore Reserves
(the “JORC Code”). However, these terms are not defined in Industry
Guide 7 (“SEC Industry Guide 7”) under the U.S. Securities Act of 1933,
as amended (the “U.S. Securities Act”), and are normally not permitted
to be used in reports and filings with the U.S. Securities and Exchange
Commission (“SEC”). Accordingly, information contained herein that
describes Piedmont’s mineral deposits may not be comparable to similar
information made public by U.S. companies subject to reporting and
disclosure requirements under the U.S. federal securities laws and the
rules and regulations thereunder. U.S. investors are urged to consider
closely the disclosure in Piedmont’s Form 20-F, a copy of which may be
obtained from Piedmont or from the EDGAR system on the SEC’s website at http://www.sec.gov/.

Competent Persons Statements

The information in this presentation that relates to Exploration Results
is extracted from the Company’s ASX announcements dated March 14, 2019,
February 13, 2019, October 17, 2018, August 23, 2018, July 19, 2018,
June 14, 2018, June 7, 2018, May 17, 2018, May 10, 2018, April 9, 2018,
4 April 2018, 15 March 2018, 1 December 2017, 2 November 2017, 27
September 2017, 23 May 2017, 3 April 2017, and 18 October 2016 which are
available to view on the Company’s website at www.piedmontlithium.com.

The information in this presentation that relates to Exploration Targets
and Mineral Resources is extracted from the Company’s ASX announcements
dated June 14, 2018 and April 24, 2019 which are available to view on
the Company’s website at www.piedmontlithium.com.

The information in this presentation that relates to Metallurgical
Testwork Results is extracted from the Company’s ASX announcements dated
September 4, 2018 and July 17, 2018 which are available to view on the
Company’s website at www.piedmontlithium.com.

The information in this presentation that relates to Process Design,
Process Plant Capital Costs, and Process Plant Operating Costs is
extracted from the Company’s ASX announcements dated September 13, 2018
and July 19, 2018 which are available to view on the Company’s website
at www.piedmontlithium.com.

The information in this presentation that relates to Mining Engineering
and Mine Schedule is extracted from the Company’s ASX announcements
dated September 13, 2018 and July 19, 2018 which are available to view
on the Company’s website at www.piedmontlithium.com.

Piedmont confirms that: a) it is not aware of any new information or
data that materially affects the information included in the original
ASX announcements; b) all material assumptions and technical parameters
underpinning Mineral Resources, Exploration Targets, Production Targets,
and related forecast financial information derived from Production
Targets included in the original ASX announcements continue to apply and
have not materially changed; and c) the form and context in which the
relevant Competent Persons’ findings are presented in this report have
not been materially modified from the original ASX announcement.

Keith D. Phillips
President & CEO
T: +1 973 809 0505
E:
keith@piedmontlithium.com

Anastasios
(Taso) Arima
Executive Director
T: +1 347 899 1522
E: taso@piedmontlithium.com

Piedmont Announces Initial Mineral Resource Estimate at Central Property

by
  • Initial Mineral Resource at Central property of 2.80 Mt @ 1.34% Li2O
    based on only 18 drill holes
  • Project-wide Mineral Resources increased to 19.0 Mt @ 1.15% Li2O
  • Phase 4 drilling continues with three rigs operating on the Core
    property
  • Core Mineral Resource update expected in June 2019 based on
    approximately 70 Phase 4 holes

NEW YORK – Piedmont Lithium Limited (“Piedmont” or “Company”) is
pleased to announce an initial Mineral Resource estimate on its Central
property of 2.8 Mt at 1.34% Li2O.
Approximately 50% or 1.41 million tonnes of the Mineral Resource is
classified in the Indicated Resource category. The Mineral Resource
estimate has been prepared by independent consultants, CSA Global Pty
Ltd (“CSA“) and is reported in accordance with JORC Code (2012
Edition).

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20190423006022/en/

Figure 1. Resource Location Map (Graphic: Business Wire)

Figure 1. Resource Location Map (Graphic: Business Wire)

The reported Central Mineral Resource estimate (“MRE“) above is
based on 18 diamond core holes totaling 2,840 meters. Significant
intercepts from all 18 holes are reported in Appendix 1. The deposit is
open in all directions. The Central Property is located approximately 1
mile south of the Core Property (Figure 1). The Company’s
project-wide Mineral Resources now total 19.0 Mt at 1.15% Li2O.

 
Piedmont Lithium Project Mineral Resource Estimate Summary (0.4%
cut-off)
Resource Category     Core Property     Central Property     Total
    Tonnes (Mt)     Grade (Li2O%)     Tonnes (Mt)     Grade (Li2O%)     Tonnes (Mt)     Grade (Li2O%)
Indicated     8.50     1.15     1.41     1.38     9.91     1.18
Inferred     7.70     1.09     1.39     1.29     9.09     1.12
Total     16.20     1.12     2.80     1.34     19.00     1.15
                   

Phase 4 drilling is ongoing and the Company expects to announce a
further Mineral Resource update in June 2019. The Central MRE and
overall Resource update will be included in the Project’s updated
scoping study scheduled for July 2019.

Keith D. Phillips, President and Chief Executive Officer, commented: “We
are very pleased with the initial high-grade Mineral Resource Estimate
at Central.This is a property with great potential and the MRE
is based on only 18 drill holes, 16 of which encountered thick,
high-grade mineralization.We hope to expand our land holdings in
this area and ultimately drill out a substantially larger resource at
Central.Phase 4 drilling continues with 3 rigs operating on the
Core property and we expect a material resource upgrade in June. The
Piedmont project is quickly becoming one of the largest hard-rock
lithium projects in North America, while enjoying all the benefits of
our unique North Carolina, USA location.”

Click
here to view the full ASX Announcement

Keith D. Phillips
President & CEO
T: +1 973 809 0505
E:
kphillips@piedmontlithium.com

Anastasios
(Taso) Arima
Executive Director
T: +1 347 899 1522
E: tarima@piedmontlithium.com