Atlantic Lithium Limited Announces Corporate Update – Resignation of Director

SYDNEY, AUSTRALIA / ACCESSWIRE / April 27, 2022 / Atlantic Lithium Limited (AIM:ALL)(OTCQX:ALLIF) "Atlantic Lithium" or the "Company"), the African focused lithium exploration and development company, wishes to advise that the Company has received the following TR-1 Notification notifying of a change in major holdings. Sumitomo Corporation voting rights now sit at 2.53% of the issued capital of the Company. Following this change the Company also wishes to advise of the resignation today of Mr Tetsunosuke Miyawaki as a Non-Executive Director (NED) of the Company and the resignation of Mr Miyawaki's alternate director Tsuyoshi Ueda.

For any further information, please contact:

Atlantic Lithium Limited

Neil Herbert (Chairperson)
Amanda Harsas (Finance Director and Company Secretary)
www.atlanticlithium.com.au
atlantic@yellowjerseypr.com

Tel: +61 2 8072 0640

SP Angel Corporate Finance LLP

Nominated Adviser
Jeff Keating
Charlie Bouverat

Tel: +44 (0)20 3470 0470

Canaccord Genuity Limited

Joint Company Broker
Raj Khatri
James Asensio
Harry Rees

Tel: +44 (0) 20 7523 4500

Liberum Capital Limited

Joint Company Broker
Scott Mathieson
Edward Thomas
Kane Collings

Tel: +44 (0) 20 3100 2000

SI Capital Limited

Joint Company Broker
Nick Emerson
Jon Levinson

Tel: +44 (0) 1483 413 500

Tel: +44 (0) 207 871 4038

Yellow Jersey PR Limited

Henry Wilkinson
Dominic Barretto
James Lingfield

Tel: +44 (0)20 3004 9512

Notes to Editors:

About Atlantic Lithium

www.atlanticlithium.com.au

Atlantic Lithium (formerly "IronRidge Resources") is an AIM-listed lithium company advancing a portfolio of projects in Ghana and Côte d'Ivoire through to production.

The Company's flagship project, the Ewoyaa Project in Ghana, is a significant lithium pegmatite discovery on track to become West Africa's first lithium producing mine. The project is fully funded to production under an agreement with Piedmont Lithium for US$102m and set to produce a premium lithium product. A robust update Scoping Study indicates Life of Mine revenues exceeding US$3.4bn.

Atlantic Lithium holds a 560km2 & 774km2 tenure across Ghana and Côte d'Ivoire respectively, comprising significantly under-explored, highly prospective licenses.

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)

1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Atlantic Lithium Limited

1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate)

Non-UK issuer

X

2. Reason for the notification (please mark the appropriate box or boxes with an "X")

An acquisition or disposal of voting rights

X

An acquisition or disposal of financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Details of person subject to the notification obligation

Name

Sumitomo Corporation

City and country of registered office (if applicable)

Tokyo, Japan

4. Full name of shareholder(s) (if different from 3.)

Name

City and country of registered office (if applicable)

5. Date on which the threshold was crossed or reached:

27 April 2022

6. Date on which issuer notified (DD/MM/YYYY):

27 April 2022

7. Total positions of person(s) subject to the notification obligation

% of voting rights attached to shares (total of 8. A)

% of voting rights through financial instruments
(total of 8.B 1 + 8.B 2)

Total of both in % (8.A + 8.B)

Total number of voting rights held in issuer (8.A + 8.B)

Resulting situation on the date on which threshold was crossed or reached

2.53%

2.53%

14,581,241

Position of previous notification (if

applicable)

5.51%

5.51%

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached viii

A: Voting rights attached to shares

Class/type of
shares

ISIN code (if possible)

Number of voting rights ix

% of voting rights

Direct

(DTR5.1)

Indirect

(DTR5.2.1)

Direct

(DTR5.1)

Indirect

(DTR5.2.1)

AU0000XINEX3

14,581,241

2.53%

SUBTOTAL 8. A

14,581,241

2.53%

B 1: Financial Instruments according to DTR5.3.1R (1) (a)

Type of financial instrument

Expiration
date

Exercise/
Conversion Period

Number of voting rights that may be acquired if the instrument is

exercised/converted.

% of voting rights

SUBTOTAL 8. B 1

B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)

Type of financial instrument

Expiration
date x

Exercise/
Conversion Period

Physical or cash

Settlement

Number of voting rights

% of voting rights

SUBTOTAL 8.B.2

9. Information in relation to the person subject to the notification obligation (please mark the

applicable box with an "X")

Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer xiii

X

Full chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held starting with the ultimate controlling natural person or legal entity (please add additional rows as necessary)

Name

% of voting rights if it equals or is higher than the notifiable threshold

% of voting rights through financial instruments if it equals or is higher than the notifiable threshold

Total of both if it equals or is higher than the notifiable threshold

10. In case of proxy voting, please identify:

Name of the proxy holder

The number and % of voting rights held

The date until which the voting rights will be held

11. Additional information

Place of completion

Toyko, Japan

Date of completion

27 April 2022

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Atlantic Lithium Limited



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