PRESS RELEASE RE: LITHIUM MINING LEASE BETWEEN THE GOVERNMENT OF GHANA

AND BARARI DV GHANA LIMITED The attention of the Minerals Commission

(the “Commission”) has been drawn to comments and concerns by some
members of the Ghanaian public regarding the mining lease between the
Government of Ghana and Barari DV Ghana Limited (the “company” or
“Barari”).

This comes on the heels of the announcement by the Minister of Lands

and Natural Resources, Hon. Samuel A. Jinapor at a brief ceremony on 19
October 2023 when he signed the first mining lease for the exploitation
of Lithium in Ghana and the publication of the lease on the website of
the Commission.

For the avoidance of doubt, the mining lease was granted for 15 years
to Barari, which is the subsidiary of Atlantic Lithium Limited, an
Australian company listed on the Australian Securities Exchange (ASX)
and also on the Alternative Investment Market (AIM) of the London Stock
Exchange. The lease covers an area of 42.63 Km2 in and around Ewoyaa in
the Mfantseman Municipality of the Central Region.

The Commission notes in spite of the publication of the lease which is

now widely available to the general public, it has become increasingly
clear that the commentators have not read the agreement in its entirety
and as result many of concerns are based on assumptions that are
inaccurate and assertions that are not supported by facts or any data.

Recognizing these concerns raised, the Commission has scheduled a

press conference on Thursday, 7th December 2023 to further explain the
nature of the contract and procedures, including the next steps after
the grant of the lease. The Commission would like to assure the public
of our utmost commitment to transparency and accountability in dealing
with any mineral resources that rightly belong to the people of Ghana.
The Commission further assures the public that the lease was signed in
the best interest of Ghana. SIGNED MARTIN KWAKU AYISI CHIEF EXECUTIVE
OFFICER MINERALS COMMISSIO