Piedmont Lithium Project Development Update

  • Land position increased by a further 15% to 2,105 acres
  • Initial Mineral Resource estimate at Central property expected in
    April 2019
  • Updated Mineral Resource estimate for Core property expected in
    June/July 2019
  • Pre-Feasibility Study (“PFS”)-level metallurgical testwork ongoing
    at SGS Lakefield
  • Updated Scoping Study based on updated resource and engineering
    targeted for July 2019
  • Definitive Feasibility Study and permitting approvals both on-track
    for year-end 2019
  • Company currently evaluating a range of offtake, financing and
    strategic alternatives

NEW YORK – Piedmont Lithium Limited (“Piedmont” or “Company”) is pleased to
provide an update on the development of the Company’s 100% owned
Piedmont Lithium Project (“Project”) in the Carolina
Tin-Spodumene Belt (“TSB“) in North Carolina, United States. The
Company remains on schedule to update its Mineral Resource estimate and
Scoping Study near mid-year; to receive required permits and regulatory
approvals by year-end; and to complete a Definitive Feasibility Study (“DFS“)
by the end of 2019.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20190408005847/en/

(Graphic: Business Wire)

(Graphic: Business Wire)

Keith D. Phillips, President and Chief Executive Officer, said, “We
continue to make good progress in several areas critical to our
strategy, and remain on-track to begin construction in early-2020,
consistent with the schedule we established in late-2017.
As the
only conventional lithium project in the USA, we have attracted
considerable strategic interest and have engaged in initial
conversations with parties in the lithium, mining, chemicals, battery,
automotive, and private equity sectors.
We plan to appoint
financial and legal advisors in the coming weeks to assist in the
evaluation of strategic and financial plans as we approach a
construction decision.”

Continued Land Acquisition

The Company has recently increased its overall land position by 15% to
2,105 acres. The Company’s Core Property now comprises 1,004 acres,
representing an 86% increase from the Core land position underlying the
maiden Mineral Resource estimate.

PFS-Level Metallurgical Testwork Ongoing

Testwork evaluating Dense Medium Separation (“DMS”) technology
remains ongoing at SGS. Preliminary DMS results indicate the potential
to include DMS circuitry in the Piedmont concentrator’s design. Final
results of DMS testwork are expected in May 2019 and locked-cycle
flotation tests will also be performed. The results of the testwork
program will be used to update the process design from the Scoping Study
and to design a pilot program for later in 2019.

Resource Updates Expected in 2019

Piedmont’s Phase 4 drill campaign continues with three rigs actively
drilling. The Company expects that Phase 4 drilling will result in an
initial Mineral Resource estimate on the Company’s Central Property in
April 2019 and an update to the Mineral Resource estimate on the
Company’s Core Property in June/July 2019.

Technical Studies Underway

Marshall Miller has started mine design, sitewide civil design, and
waste rock stockpile planning for the Project to support permit
activities, Scoping Study update, and future Definitive Feasibility
Study. These studies are expected to continue throughout 2019 with a
planned completion by the end of 2019. Primero Group has commenced
design engineering to a PFS-level of accuracy and is scheduled to
complete a Scoping Study update in July 2019. The Scoping Study update
will integrate updated Mineral Resources, latest metallurgical testwork,
flowsheet optimization and updated costs.

Engineering work is proceeding at the PFS-level, but we are eliminating
the interim Pre-Feasibility Study from our time-line as drilling is
currently focused on resource and mine life expansion rather than the
infill drilling required to declare reserves. Following our current
drill campaign, we will complete additional infill drilling in advance
of an anticipated year-end DFS.

Permitting Activities Proceeding as Anticipated

The public comment period for the Company’s Section 404 Standard
Individual Permit application to the US Army Corps of Engineers (USACE)
concluded in February 2019. Piedmont has received the comments from
USACE and other regulatory agencies and will provide responses by May
31, 2019. Piedmont is also proceeding with state and local permit
applications. The Company will undertake a series of community
engagement meetings in the coming months and anticipates applying for a
North Carolina state mining permit and Gaston County conditional zoning
in Q3 2019.

The federal and state reviews are both proceeding as expected and the
Company remains confident that the permitting processes will be
successfully concluded by year-end 2019.

Strategic Discussions Initiated

Piedmont has been engaged in numerous preliminary off-take, financing
and strategic conversations over the past several months. Interested
parties are of a global nature, and include companies from the lithium,
mining, chemicals, battery, automotive and private equity sectors.
Piedmont expects to appoint financial and legal advisors in the coming
weeks to assist in the evaluation of strategic and financing options,
but we do not plan to report on such matters until there is more clarity
on the ultimate outcome.

About Piedmont Lithium

Piedmont Lithium Limited (ASX: PLL; Nasdaq: PLL) holds a 100% interest
in the Piedmont Lithium Project (“Project”) located within the
world-class Carolina Tin-Spodumene Belt (“TSB”) and along trend to the
Hallman Beam and Kings Mountain mines, historically providing most of
the western world’s lithium between the 1950s and the 1980s. The TSB has
been described as one of the largest lithium provinces in the world and
is located approximately 25 miles west of Charlotte, North Carolina. It
is a premier location for development of an integrated lithium business
based on its favorable geology, proven metallurgy and easy access to
infrastructure, power, R&D centers for lithium and battery storage,
major high-tech population centers and downstream lithium processing
facilities.

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

Best-Ever Drill Intercepts at Piedmont Lithium Project

  • Drill results continue to showcase the outstanding potential of the
    lithium-rich, low-cost Carolina Tin-Spodumene Belt in North Carolina,
    USA
  • Drill intercepts from 4 Central property holes returned outstanding
    grade:

    • 43.2m @ 1.73% Li2O in Hole 19-CT-014
    • 14.1m @ 1.63% Li2O in Hole 19-CT-013
    • 28.1m @ 1.35% Li2O in Hole 19-CT-015
  • Drill intercepts from 19 Core property holes delivered strong
    results consistent with historical drilling
  • Phase 4 drilling continues with 3 drill rigs active on the Core
    property and a total of 57 holes completed to-date with assay results
    pending for 34 holes
  • Piedmont expects to release a maiden Mineral Resource estimate for
    Central by April 2019
  • Piedmont expects to release an updated Mineral Resource estimate
    for Core by June 2019
  • High confidence in significantly enhancing the Project’s mine life
    post Mineral Resource updates

NEW YORK – Piedmont Lithium Limited (“Piedmont” or “Company”) is
pleased to announce Phase 4 drill results for 23 drill holes (refer
Appendix 1) completed on the Piedmont Lithium Project (“Project”)
located within the world-class Carolina Tin-Spodumene Belt (“TSB“)
in North Carolina, USA. The high-grade results are from the recently
discovered pegmatites on the Central property and Exploration Target
areas on the Core property (Figure 1). High-grade mineralization was
encountered in all 23 holes drilled.

Positive drill results from the Central property continue including the
thickest high-grade intercept reported on the Project to-date, 43.2m
@ 1.73% Li
2O,encountered in hole
19-CT-014. The Company now expects to publish a maiden Mineral Resource
estimate for the Central property by April 2019.

Phase 4 drilling continues on the Core property with the principal aim
to significantly expand the 13-year project life reported in the
Company’s Scoping Study announced in September 2018. Further updates to
the Project’s existing Mineral Resource of 16.2Mt @ 1.12% Li2O
are expected over the next several months.

Keith D. Phillips, President and Chief Executive Officer, commented: “We
are exceedingly happy with the early results from Phase 4 drilling.
It
is clear to us that the Core property will continue to grow in size, and
the results from Central are potentially transformational for the
Project.
With a maiden resource for Central now planned for next
month and an updated resource at Core expected in by June, we believe
Piedmont will soon be positioned as 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 ASX Announcement

For further information:
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 Commences Next Phase of Metallurgical Testwork

  • PFS-level metallurgical testwork program has commenced at SGS
    Lakefield
  • Testwork will evaluate Dense Medium Separation, flowsheet
    optimization and ore variability
  • Program builds on 2018 results demonstrating low-iron concentrate
    grades of 6.0-6.5% Li
    2O
  • Appointed a number of consultants and suppliers to support
    additional studies in 2019

NEW YORK – Piedmont Lithium Limited (“Piedmont” or “Company”) has commenced
a PFS-level metallurgical testwork program at SGS Canada’s facilities in
Lakefield, Ontario. The testwork will be completed using composite and
variability samples collected from drill cores produced during the
Company’s Phase 2 and Phase 3 drill campaigns.

The planned testwork program builds on the success of the Company’s 2018
bench-scale testwork which previously demonstrated spodumene concentrate
grades of 6.0-6.5%
Li2O with low iron content of
0.66-0.76%
Fe2O3.

New tests will include evaluation of Dense Medium Separation (DMS)
technology’s potential to function as a pre-concentration step to
production of high-quality spodumene concentrate. Locked-cycle flotation
tests will also be performed on composite and variable samples to verify
prior testwork and estimate spodumene recoveries.

The results of the testwork program will be used to further optimize the
process flow diagram during the next phases of technical study of the
Company’s planned spodumene concentrator. Test results will also be used
to design a pilot testwork program planned for the second half of 2019.
Additional by-product testing is also planned in the second half of 2019.

Piedmont is also pleased to announce the appointment of engineers and
consultants supporting the Company in areas of environmental study,
permitting, metallurgy, mining engineering, exploration, and land
acquisition as the project team focuses on a construction decision by
the end of 2019.

Our full announcement and our complete list of consultants can be seen here.

Keith D. Phillips, President and Chief Executive Officer, said, “We
are pleased to be working with SGS Lakefield on the next phase of our
metallurgical testing.
SGS is a global leader with extensive
experience in the field of spodumene concentrate testwork.
We are
also pleased to announce the appointments of several additional
consultants experienced in areas critical to our success.
Our
Phase 4 drill campaign is going very well, and we look forward to
reflecting this in important engineering studies over the course of
2019.”

For further information:
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 Upcoming Conference Participation

NEW YORK, Feb. 25, 2019 (GLOBE NEWSWIRE) — Piedmont Lithium Limited (Nasdaq:PLL; ASX:PLL) is pleased to announce that it will be participating in the following upcoming conferences:

    Event:     BMO 2019 Global Metals & Mining Conference
    Date:     February 24-27, 2019
    Location:     Hollywood, Florida
           
    Event:     Battery Japan
    Date:     February 27 – March 1, 2019
    Location:     Tokyo, Japan
           
    Event:     Metals Investor Forum
    Date:     March 1-2, 2019
    Location:     Toronto, Ontario
           
    Event:     Prospectors & Developers Association of Canada
    Date:     March 3-6, 2019
    Location:     Toronto, Ontario
           
    Event:     g.research Specialty Chemicals Conference
    Date:     March 13, 2019
    Location:     New York, New York
           
    Event:      Roth Investor Conference
    Date:      March 18-20, 2019
    Location:      Laguna Niguel, California

Investors interested in meeting with Piedmont at or around these events should contact:

Keith D. Phillips     Anastasios (Taso) Arima
President & CEO     Executive Director
T: +1 973 809 0505     T: +1 347 899 1522
E: kphillips@piedmontlithium.com     E: tarima@piedmontlithium.com

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.

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Piedmont Continues to Aggressively Consolidate Its Lithium Mineral Holdings in North Carolina

  • Piedmont increases its TSB land position by 32% to 1,824 acres
  • Core Property expanded by 243 acres or 28% to a total of 865 contiguous acres
  • Recent drill results on the Central Property validate the Company’s land consolidation plan 

NEW YORK, Feb. 19, 2019 (GLOBE NEWSWIRE) — Piedmont Lithium Limited (“Piedmont” or “Company”) is pleased to advise that the Company has increased its land position by 441 acres to 1,824 acres in the Carolina Tin-Spodumene Belt (“TSB“) located west of Charlotte in North Carolina. These additions were achieved via a combination of option agreements and deferred purchase contracts, making effective use of the Company’s funds to maximize exploration opportunities.

Figure 1.
Land map showing the newly acquired properties
Figure 2.
Piedmont Lithium’s land acquisition progression from project inception to current

Recent additions have help consolidate the Company’s Core Property, which now comprises 868 acres.  Piedmont has now established the largest lithium mineral position in the TSB.  Recent drill results from the Company’s Central Property (announced February 13, 2019) support the overall land strategy to consolidate properties between Core, Central and Sunnyside creating a large contiguous lithium project.

Figure 1: http://www.globenewswire.com/NewsRoom/AttachmentNg/6b8966a0-7e9a-428d-ba00-8a5c6f967393

Since commencement of the Piedmont Lithium Project in 2016 the Company has made steady progress towards establishing a large contiguous land package within the historic Carolina Tin-Spodumene Belt. 

Figure 2:  http://www.globenewswire.com/NewsRoom/AttachmentNg/d514a170-0ac4-496d-8396-a6e05347b9cd 

Piedmont will undertake initial soils and surface rock sampling of the new properties in the coming months.

Keith D. Phillips, President and Chief Executive Officer, said, “The Carolina Tin-Spodumene Belt has been described as one of the world’s largest lithium districts.  Piedmont has established a dominant position in the TSB and we hope to consolidate large contiguous land blocks to build a large, world-class integrated lithium business.  We have demonstrated the substantial cost advantages of operating in North Carolina and one of our 2019 objectives is to make clear the sheer scale of the business we intend to build.

Piedmont Lithium Inc. has entered into exclusive option agreements and land acquisition agreements with local landowners, which upon exercise, allow the Company to purchase (or in some cases long-term lease) 1,824 acres of surface property and the associated mineral rights from the local landowners. The new properties being the subject of this announcement total 440.6 acres, of which 137.4 acres have been acquired under land acquisition agreements and 303.2 acres have been optioned under land option agreements, on substantially the same terms as the Company’s existing land option agreements.

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 
     

 

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Piedmont Announces Additional High-Grade Drill Intercepts at Its Central Property

  • Central property drilling has yielded additional high-grade intercepts, including;

    • 19.1m @ 1.65% Li2O in Hole 18-CT-004
    • 15.1m @ 1.24% Li2O in Hole 18-CT-009
    • 7.8m @ 1.69% Li2O and 4.4m @ 1.73% Li2O in Hole 18-CT-010
    • 9.3m @ 1.24% Li2O and 4.3m @ 1.57% Li2O in Hole 18-CT-005
  • Previously-reported Central results included an intercept of 34m @ 1.02% Li2O in hole 18-CT-002
  • 3 drill rigs are active on Piedmont’s Core property with initial results expected in coming weeks
  • Results demonstrate the widespread lithium mineralization within the Carolina Tin-Spodumene Belt

NEW YORK, Feb. 12, 2019 (GLOBE NEWSWIRE) — Piedmont Lithium Limited (“Piedmont” or “Company”) is pleased to announce the results of an additional 8 drill holes completed at its Piedmont Lithium Project (“Project“), which is located within the world-class Carolina Tin-Spodumene Belt (“TSB“) in North Carolina, USA. These results continue to showcase the potential for additional high-grade lithium mineralization within the TSB, which has remained largely unexplored in the 20+ years since the depletion of the historic mines operated by predecessors of lithium industry leaders Albermarle Corporation and Livent Corporation (formerly FMC Lithium).

Core and Central Properties
Core and Central Properties

All 8 core holes were completed on the Central property. The Company has now reported 11 drill holes from the Central property and has completed an additional 7 core holes which are expected to be reported in the next month.

The Central property is located less than a mile south of Piedmont’s Core property, which hosts a resource of 16.2 million tonnes @ 1.12% Li2O and a completed Scoping Study showing the potential to build a low-cost integrated lithium operation in the USA. Phase 4 drilling continues on the Core property and these results will also be released to the market as they become available over the coming months.

Keith D. Phillips, President and Chief Executive Officer, commented: “We are very pleased with the results of drilling at the Central property, both in terms of the grades and thicknesses reported and also in the clear demonstration of the potential of the TSB.  The United States Geological Survey undertook a detailed review of the TSB in the 1970s and documented the vast potential of the region at that time.  Drilling is also going very well on our expanded Core property and suffice it to say we believe a significant expansion to our 16.2 Mt maiden resource will be forthcoming mid-year.

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

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Completion of Placement

Piedmont Lithium Limited (ASX: PLL; Nasdaq: PLL) (“Piedmont” or “Company”) is pleased to announce that it has now completed the second and final tranche of its previously announced placement of
111 million shares at an issue price of A$0.11 per share to raise gross proceeds of A$12.2 million (“Placement”).

The second tranche of the Placement, comprising 3.4 million shares to Directors, was completed today following shareholder approval at a General Meeting held on January 31, 2019. The first tranche of the Placement, comprising 107.6 million shares to institutional and sophisticated investors, was completed on December 13, 2018.

Proceeds from the Placement will be used for exploration and infill drilling to expand and upgrade the resource base at the Company’s 100% owned Piedmont Lithium Project (“Project”) located in the
world-class Carolina Tin-Spodumene Belt (“TSB”) in the United States, as well as for permit applications, pilot-scale metallurgy, additional engineering studies, and ongoing land consolidation.

An Appendix 3B and Section 708A Notice is attached

December 2018 Quarterly Report

NEW YORK, Jan. 29, 2019 (GLOBE NEWSWIRE) — Piedmont Lithium Limited (ASX: PLL; NASDAQ: PLL) (“Piedmont” or “Company”) is pleased to present its December 2018 quarterly report.

Highlights during and subsequent to the quarter were:

  • Commenced a new 25,000-meter Phase 4 drill program at the Piedmont Lithium Project (“Project”), with 19,000 meters allocated for infill and exploration drilling on the Core property and 6,000 meters allocated for exploration drilling on the Central and Sunnyside properties;
  • Increased land position of the Project by 15% to 1,383 acres, including 93 acres which are contiguous to the Core property increasing it by 18% to a total of 622 acres. Drill targets from the new properties have been incorporated into the current drilling program;
  • 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);
  • Completed initial exploratory drilling on the Company’s new Sunnyside and Central properties in the Carolina Tin-Spodumene Belt (“TSB”), which returned encouraging results, including the Project’s widest intercept to-date; and
  • Completed the first tranche of a private placement of 111 million shares at an issue price of A$0.11 per share to raise gross proceeds of A$12.2 million. Proceeds will be used for drilling to expand and upgrade the resource base at the Project, as well as for permit applications, metallurgical testwork, additional engineering studies, and ongoing land consolidation.

Next steps:

  • Piedmont will complete the Phase 4 drill program and seek to extend Project life through an increase in the Project’s Mineral Resource;
  • Further metallurgical studies, including evaluating the potential for a Dense Medium Separation (“DMS”) before the flotation circuit, to further enhance operating costs in the concentrator;
  • 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                                     
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

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 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 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 announcement dated June 14, 2018 which is 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 announcements.

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Piedmont Commences 25,000 Meter Drill Program Designed to Significantly Extend Project Life

NEW YORK, Jan. 22, 2019 (GLOBE NEWSWIRE) — Piedmont Lithium Limited (“Piedmont” or “Company”) is pleased to advise that following completion of its recent capital raising the Company has initiated a 25,000-meter Phase 4 drill program at the Piedmont Lithium Project (“Project“) located within the world-class Carolina Tin-Spodumene Belt (“TSB“) which will aim to significantly expand on the 13-year project life reported in the Scoping Study released on September 13, 2018.

Core and Central Properties with Resources, Exploration Targets, and mineralized trends.
Core and Central Properties with Resource, Exploration Targets, and mineralized trends.

Three drill rigs have been mobilized with two currently committed to the Core property and one to the Central property. The Core program will consist of approximately 110 holes totaling 19,000 meters and is designed to drill the Exploration Target areas reported June 14, 2018, perform initial drilling on newly acquired properties contiguous to the Core property, and upgrade portions of the current Mineral Resource Estimate from Inferred to Indicated classification (see Figure 1).

The remaining 6,000 meters is allocated to follow-up drilling on the Central and Sunnyside properties, and initial drill testing of new or other properties not yet drilled with the potential to define a Mineral Resource Estimate on one or more of these additional properties. 

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/64698e13-4229-4cc3-a982-7896188e5219

Core Property Drilling

The 110 hole, 19,000-meter Core property drill campaign is designed to increase the overall Mineral Resource Estimate and to upgrade a portion of the current Mineral Resource from the Inferred to the Indicated Category.

Significant portions of the drill program will focus on a previously reported Exploration Target of between 4.5 to 5.5 million tonnes grading between 1.10% and 1.20% Li2O (Figure 1) on the Core property with the objective of converting some or all of this to a Mineral Resource. The potential quantity and grade of this Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

Recently-announced land acquisitions contiguous to the Core Property provide significant additional exploration potential.  These tracts are located in the southeast and western portions of the Core Property.  These properties have added 600 meters of highly prospective strike length along the F corridor and 400 meters of highly prospective strike length along the G Corridor.  In combination with the current Exploration Target these new properties have potential to add to the Core Property’s current Mineral Resource Estimate of 16.2 Mt @ 1.12% Li2O reported June 14, 2018.

Central Property Drilling

One rig was mobilized to the Central Property in December and has to-date completed 8 holes totaling 1,204.8 meters (Figure 1).  These holes were designed to follow-up the intercepts from holes 18-CT-001 (7.0m @ 1.53% Li2O) and 18-CT-002 (34.0m @ 1.04% Li2O), reported October 17, 2018.

Holes 18-CT-004 through 18-CT-011 all intercepted spodumene-bearing pegmatite with intercepts ranging from 5 to 19 meters.  This extends the strike length of the mineralized dike encountered at Central for over 320 meters and it remains open in all directions.  Assays are pending for these holes.

X-Ray Diffraction analysis of two samples from hole 18-CT-002 confirm spodumene is the only primary lithium bearing mineral in the mineralized pegmatites.  The primary mineralogy is consistent with Piedmont’s Core property consisting principally of quartz, albite, spodumene, muscovite and microcline.

Sunnyside and Other Property Drilling

In 2018 the Company completed 33-line kilometers of magnetometer surveys and collected 1,216 soil samples on Sunnyside, Central and other regional properties.  Drill targets have been identified based on the results of soil sampling and selective drilling of these targets will take place during Phase 4.

Keith D. Phillips, President and Chief Executive Office, said, “We are excited about the Phase 4 drill campaign and are confident that it will lead to a further enhancement of the 13-year mine life and US$888 million NPV reported in our updated Scoping Study in September 2018.  Our prior work has shown the powerful economic advantages of our North Carolina location, and as we continue to build our land package and resource base, we will establish the Project as one of the world’s most significant and strategic hard-rock lithium properties.”

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

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