Askari Metals Charges Ahead with Aggressive Lithium Exploration in Namibia

• Askari Metals recently acquired projects in Namibia in the lithium space and is known for its aggressive exploration approach.
• They are operating in the Whis Cape Cross Pegmatite Belt, an area historically known for tin and tantalum production but underexplored for critical and battery minerals.
• The company has a strong team in Namibia, is focused on ESG considerations, and plans to use solar energy for a carbon-neutral approach.
• Askari Metals has identified a significant mineralized corridor in their licenses and plans a trenching campaign for further exploration, with a focus on lithium mineralization.

Askari Metals is aggressively exploring its lithium projects in Namibia to capitalize on surging global demand for lithium and the country's favorable geology. With two high-potential projects acquired in recent months, Askari has already drilled nearly 10,000 meters and is mobilizing further work. Early results reveal lithium-rich pegmatites in the highly prospective Erongo region.

Strategic Position in an Emerging Lithium Hotspot

Askari's lithium projects are strategically located within the Erongo region's Spodumene-rich pegmatite belt in central-western Namibia. This area near the major port of Walvis Bay is known for historical tin and tantalum mining but has seen limited modern exploration for lithium and other battery metals.

Neighboring mines demonstrate the prospectivity. Askari's licenses border Andrada Mining's past-producing Wits Tin Mine and the high-grade Spodumenenhill lithium discovery. Regional infrastructure is excellent, with access to roads, power, water and a deepwater port only 230km away. Askari acquired the Wishbone licenses in October 2021 and Bullseye license in December 2021 to establish an early mover advantage in this underexplored belt. The company sees strong potential for further discoveries beneath shallow cover, as modern geophysics can identify concealed pegmatites not visible to historical miners.

Rapid Start with Aggressive ExplorationSince acquiring its licenses just over a year ago, Askari has moved swiftly to evaluate its projects:

• Completed nearly 10,000 meters of drilling in 173 holes across its licenses
• Mapped and sampled entire license areas covering over 380 sq km
• Built a large in-country team including 5 geologists and a geophysicist
• Developed strong local partnerships and employs nearly exclusively Namibian personnel

This rapid progress demonstrates Askari's aggressive strategy for early-stage exploration. While awaiting full assay results, the company's initial priority is to systematically evaluate its target areas and generate new targets for further drilling.

Encouraging Initial Results

Despite being an early-stage explorer in Namibia, Askari has already uncovered encouraging results from initial work.

Mapping and sampling have revealed high-grade lithium at over 3% Li2O in pegmatites, as well as high levels of tantalum and rubidium. The mineralization and geochemical signature confirm the lithium-caesium-tantalum (LCT) style of pegmatites targeted. Drilling has likewise intersected up to 2% Li2O along with significant tantalum at Spodumenenhill. These results provide proof-of-concept that Askari's licenses host lithium-bearing pegmatites. Several drill targets remain untested to date across the licenses.

15km Lithium Corridor Identified

Recent analysis by Askari's team has delineated a significant 15km long by 5km wide lithium corridor within its licenses. This structure encompasses multiple pegmatites that are prospective for lithium and other metals.

One particularly encouraging pegmatite body extends over 2km of strike and will be the focus of an upcoming 5,000 meter trenching program. This work will evaluate grade continuity prior to drilling. Askari also plans 6,000 soil samples across its southern license to detect additional concealed pegmatites.

Focused on a Tier-1 Hard Rock Lithium Asset

Askari is focused squarely on delineating a major hard rock lithium deposit in Namibia. The company is finding primary spodumene mineralization, rather than lower-grade lithium clays.

The Erongo region's geologic setting is analogous to major hard rock lithium zones in Australia and Canada. Askari believes this area could represent one of the largest undeveloped lithium resources globally. Systematic exploration and evaluation work aims to rapidly advance targets toward resource definition. The current priority is demonstrating grade, size and continuity to showcase project potential.

Partnerships and Funding

Askari has secured strong partners and funding support:

• In May 2022, Chinese lithium producer Huayou Cobalt purchased a 6% stake in Askari and can invest further. This provides backing from a leading industry player.
• Askari's projects are unencumbered, allowing flexibility for future capital raises to fund ongoing exploration.
• The company is considering innovative funding solutions such as solar power installations to provide low-cost electricity and offset carbon emissions.

Experienced Leadership and Local Focus

Askari's leadership combines technical expertise with extensive experience in Africa. Founder and Executive Director Gino D'Anna has spent over 12 years working in exploration and mining across Australia, Africa and North America. The company places great emphasis on developing local partnerships, building a skilled Namibian workforce and supporting community needs. This ensures a sustainable long-term presence aligned with national priorities.

In just over one year, Askari Metals has established itself as a first-mover lithium explorer in Namibia's promising but underexplored Erongo region. Systematic programs are rapidly advancing targets within identified lithium corridors. Encouraging initial results confirm the potential to delineate a major hard rock lithium deposit. With its aggressive strategy, experienced team, strong funding and local partnerships, Askari is positioned to capitalize on surging lithium demand and unlock value across its strategic land package. Investors can expect a busy period of exploration results ahead as Askari charges forward to make the next significant lithium discovery.

The Investment Thesis for Askari Metals

Promising Assets in an Emerging District

• Askari's projects are located in a highly prospective but underexplored lithium region that is drawing increased attention. Early results validate the potential.
• With few competitors currently active in the area, Askari has first mover advantage to consolidate prime land and make new discoveries.
• Namibia is a top mining jurisdiction with low risk and excellent infrastructure. The region's geology suggests potential for a major hard rock lithium deposit.

Rapid Value Creation Potential

• Systematic exploration is quickly advancing targets toward drill definition and potential resource estimation.
• Initial sampling results have already uncovered high grades of lithium and other metals.
• Askari is moving aggressively to capitalize on strong lithium demand fundamentals. Near-term catalysts could drive re-ratings.

Strong Leadership and Funding Position

• Askari has a robust funding position from strategic investors and flexibility for future capital raises.
• The experienced team has a proven track record in Africa and technical expertise to explore and develop projects.
• Local partnerships, community engagement and in-country hiring ensure smooth operation.

Askari Metals offers investors early exposure to a new lithium district through systematic and aggressive exploration. Upcoming work programs could yield major discoveries and transformational growth as Askari strives to define the next big hard rock lithium deposit. The company has the assets, leadership, funding and vision to generate substantial returns if exploration continues succeeding.