Frontier Lithium (FL) Q4 2024 earnings summary

Executive summary

• Advanced the PAK Lithium Project with significant drilling and exploration, extending known deposits and discovering new spodumene-bearing zones.

• Progressed toward a fully integrated lithium mine and chemicals facility targeting the North American EV battery market.

• Entered a joint venture with Mitsubishi, securing $25 million for a 7.5% equity stake, with an option to increase to 25% post-DFS.

• Strengthened leadership with new appointments in corporate development and finance.

Financial highlights

• Held approximately $12 million in cash as of March 31, 2024, not including Mitsubishi JV proceeds received in April 2024.

Outlook and guidance

• Ongoing definitive feasibility study (DFS) with DRA Americas Inc. for mine and mill development.

• Environmental baseline studies and infrastructure works underway to support permitting and project advancement.

• Continued exploration and mapping to expand resource base and support long-term project life.