Lifezone Metals Ltd

Further Exploration Targets offer significant upside potential

The Initial Assessment Technical Report Summary also discloses an overall Exploration Target of 17.5 to 23.5 million tonnes grading 1.9% to 2.1% nickel equivalent from four high-priority Exploration Targets within the Special Mining Licence, offering the potential to extend the mine plan and potentially enhance project value. These Exploration Targets, located at Safari Link, Safari Extension, Rubona Hill, and Block 1 South, are based on geophysical anomalies, historical drilling and geological continuity with known mineralized zones.

The ranges of potential tonnage and grade of the Exploration Targets are conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource for these target areas. It is uncertain if further exploration will result in the estimation of a Mineral Resource.