Growth and Upside from Lithium and Gold Exploration Updated Investor - PDF document

ASX : LTR ABN 39 118 153 825 ASX ANNOUNCEMENT Growth and Upside from Lithium and Gold Exploration – Updated Investor Presentation Liontown Resources Limited (ASX: LTR) is pleased to attach a copy of its updated investor presentation “Growth and Upside from Lithium and Gold Exploration”. The updated presentation includes information ( Slides 14 and 15 ) on the Company’s Lake Percy Lithium Project which is located approximately 60km east of Kidman Resources ’ Earl Grey lithium discovery. A review of historic nickel exploration data from Lake Percy indicates a number of very large pegmatites with true widths >100m hosted in a geological setting similar to the Earl Grey pegmatite. Liontown is highly encouraged by the initial data review given the occurrence of known pegmatite-hosted lithium mineralisation approximately 20km to the south of Lake Percy in the same greenstone belt. There has been no previous exploration for lithium at Lake Percy. Other highlights of the presentation include:  The Company’s plans to commence follow -up drilling in late September at the Bynoe Project, where initial drilling intersected thick spodumene-mineralised zones;  An update on initial exploration activities at the Kathleen Valley Lithium Project, where validation of historic high grade lithium and tantalum values has been undertaken; and  An overview of the Company’s Jubilee Reef gold project in Tanzania, East Africa, where a review of the existing 390,000oz JORC gold resource is underway in conjunction with new exploration targets. DAVID RICHARDS Managing Director 21 September 2016

Growth and upside from lithium & gold exploration • Emerging Australian lithium discovery at Bynoe in the NT – next phase of drilling imminent • Large-scale pegmatite systems being evaluated at Kathleen Valley and Lake Percy, WA ASX: LTR September 2016

Disclaimer Competent Person’s Statement and Disclaimer: • The Information in this report that relates to Exploration Results for the Bynoe Project is based on and fairly represents information and supporting documentation prepared by Mr David Richards, who is a Competent Person and a member of the Australasian Institute of Geoscientists (AIG). Mr Richards is a full-time employee of the company. Information has largely been extracted from the ASX announcement entitled “thick zones of strong lithium mineralisation inter sected in maiden drilling program at Bynoe Project, NT” released on 26 th July 2016 and which is available on www.ltresources.com.au . • The Information in this report that relates to the Exploration Results for the Kathleen Valley Project is extracted from the ASX announcements entitled “ Liontown enters into agreement for the acquisition of highly prospective WA lithium- tantalum project from Ramelius Resources” and “Lith ium-tantalum potential at Kathleen Valley significantly expanded” released on the 4 th August 2016 and 6 th September 2016 respectively both of which are available on www.ltresources.com.au. • The Information in this report that relates to Exploration Results for the Lake Percy Project is based on and fairly represents information and supporting documentation prepared by Mr David Richards, who is a Competent Person and a member of the Australasian Institute of Geoscientists (AIG). Mr Richards is a full- time employee of the company. • The information in this report which relates to Mineral Resources for the Jubilee Reef Project is is extracted from the ASX announcement entitled “ Liontown Announces Maiden 390,000oz Mineral Resource for the Jubilee Reef Gold Project in Tanzania, East Africa ” released on 30 November 2015 and which is available on www.ltresources.com.au. • The company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially mo dified from the original market announcement. • This report contains forward-looking statements which involve a number of risks and uncertainties. These forward looking statements are expressed in good faith and believed to have a reasonable basis. These statements reflect current expectations, intentions or strategies regarding the future and assumptions based on currently available information. Should one or more of the risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and strategies described in this announcement. No obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments. www.ltresources.com.au 2

Company Snapshot • Three emerging Australian lithium projects – Bynoe (NT), Kathleen Valley (WA) and Lake Percy (WA):  Thick, >1% Li 2 O, spodumene-mineralised zones intersected in initial drilling at Bynoe (<50km from Darwin port) – follow up drilling imminent.  Initial exploration activities underway at Kathleen Valley Lithium Project (WA) - large-scale pegmatite system with outstanding surface grades  Very large (>100m true thickness) pegmatites defined at Lake Percy in lithium prospective Lake Johnson Greenstone Belt • Significant strategic position in Tanzania’s +50Moz Lake Victoria Goldfield – Jubilee Reef Project  Review of existing 390,000oz Inferred Mineral resource and new Strongly leveraged to exploration success exploration targets underway in lithium and gold – • Substantial upside and growth potential from focussed exploration market cap of just programs planned between now and the end of the year ~$12M www.ltresources.com.au 3

Corporate Overview Board of Directors Corporate Details TIM GOYDER – Chairman +30 years experience, MD – Chalice Gold, Chairman – Uranium ASX Code LTR Equities ~700M DAVID RICHARDS – Managing Director Shares on Issue (1:5 rights issue in progress) +30 years experience, former Managing Director – Glengarry Resources Market Capitalisation $12M (at ~1.7cps) CRAIG WILLIAMS – Non-Executive Director Major Shareholder Tim Goyder – 27% +30 years experience, co-founder and former CEO – Equinox Minerals Top 20 Shareholders 64% ANTHONY CIPRIANO – Non-Executive Director 28 years experience, former partner at Deloitte www.ltresources.com.au 4

Key Projects Bynoe Lithium Project (NT, Australia) • Previous Greenbushes-owned tin-tantalum mining centre • Extensive pegmatite field located <50km from Darwin • Thick widths of >1% Li 2 O (spodumene-related) mineralisation intersected in maiden drilling program Kathleen Valley (WA, Australia) • Multiple outcropping spodumene-bearing pegmatites • High grade lithium (up to 3.9% Li 2 O) and tantalum (up to 725ppm Ta 2 O 5 ) values at surface • No previous drill testing – potential to delineate very large system Jubilee Reef Gold Project (Tanzania) Lake Percy (WA, Australia) • Located in +50Moz Lake Victoria Goldfield, near major deposits such as Bulyanhulu, Geita • Very large pegmatites – true thicknesses >100m and Nyanzaga (Orecorp). • Lithium occurrences recorded in belt but no previous • ~390,000oz Inferred Mineral resource with exploration for the commodity significant growth potential • Strategic location in southern Yilgarn lithium province - includes • Multiple promising targets along 7.5km long Greenbushes, Mt Caitlin, Mt Marion and Kidman discovery gold mineralized trend www.ltresources.com.au 5

Bynoe Lithium Project – A New Lithium Discovery • 88km 2 tenement package • Covers central part of historic Bynoe mining field • Good infrastructure – <50km from Darwin Port • Maiden drilling program completed July 2016 – confirmed thick zones of spodumene-related lithium mineralisation • Li 2 O values of >1% intersected at 6 of the 10 initial targets ( Appendix 1 ), with best results including: >1% Li 2 O • 42m @ 1.0% Li 2 O from 93m (LBRC014) • 24m @ 1.1% Li 2 O from 70m (LBRC015) • All mineralised zones open at depth and along strike • More than 50 pegmatite targets yet to be tested SANDRAS • Follow-up drilling scheduled for September 2016 Bynoe: imminent drilling and news flow www.ltresources.com.au 6

Bynoe Lithium Project – Sandras Prospect Good widths – open at depth and • Defined over 300m length, up to 40m thick - along strike open along strike • Part of 4km long pegmatite trend www.ltresources.com.au 7

Bynoe Lithium Project – Outstanding Upside Talwest Pegmatite-Drilled 30m thick pegmatite with Li 2 O values Pegmatite-Undrilled up to 2.2% >1% Li 2 O Sandras Multiple untested pegmatites; significant exploration upside www.ltresources.com.au 8

Bynoe Lithium Project – Next Steps • Results from maiden drilling program provide ‘ proof of concept’ for widespread spodumene-related lithium mineralisation at Bynoe • >4,000m follow-up RC drill program to commence September 2016 • Key objective is to extend existing >1% Li 2 O intersections • >60 pegmatites documented on LTR tenure • Review of broader project area has identified other pegmatites that warrant testing – drilling scheduled for mid October 2016 • Potential to delineate a maiden JORC resource in the near term Strategic land position with multiple lithium prospective pegmatites www.ltresources.com.au 9