Building a Lithium Future ASX ANNOUNCEMENT AND MEDIA RELEASE 28 November 2023 OUTSTANDING PROGRESS ON QLPH CONCENTRATOR ENGINEERING STUDY Highlights Primero's outstanding progress in QLPH concentrator engineering study Impressive pace and quality surpasses industry norms Design: 4-stage crushing, DMS and flotation unit with mica removal Based on Mt Cattlin design and supervised by Lithium Dream Team Key deliverables: Block Flow & Process Flow Diagrams, Mass Balance, Process Design Criteria • Initiating Piping & Instrument Diagrams, datasheets for vendor pricing • • • • • Lithium Universe Limited (“Lithium Universe”, the “Company” or ASX: “LU7”) is pleased to report the outstanding progress made in the Engineering Study by Primero Group Limited (Primero) on the Company’s Québec Lithium Processing Hub (QLPH) stand-alone multi-purpose concentrator. The Concentrator is rated at a 1 Mtpa processing rate with an assumed feed grade of 1.1% Li2O. The output is expected to be around 140,000 tpa of spodumene concentrate at a grade of around 5.5% Li2O to maximise recoveries. The finalized design flow sheet outlines a four-stage crushing process to generate crushed ore ranging from 0.85mm to 6mm in size. Any crusher fines smaller than 0.85mm identified by the screens will undergo processing in a dedicated flotation unit. The spodumene recovered from this process will filtered and blended with the final spodumene concentrate. Additionally, any mica present in the crushed ore will undergo removal using a reflux classifier. Subsequently, the material will be split into two streams: one less than 3mm and the other greater than 3mm. Both streams will be directed through two-stage dense media separation units. The less than 3mm stream will undergo mica removal via a reflux classifier at the initial stage. The recovered spodumene from both streams will be combined through blending and stored in a dedicated storage shed. To ensure functionality in the Québec climate, the entire plant will be winterized. See Figure 1 for final flow sheet. The design closely resembles that of the Mt Cattlin plant, except for the inclusion of the flotation unit. This addition aims to create a more resilient plant capable of processing various types of ore from the James Bay, Québec region, enhancing its capacity to handle a broader range of ore types and ensuring robustness in operations. Lithium Universe Limited ASX:LU7 ABN 22 148 878 782 Suite 9, 295 Rokeby Road, Subiaco, WA 6008, Australia Telephone: +61 02 8046 2799 Website: www.lithiumuniverse.com Investor Hub: investorhub.lithiumuniverse Ore Sorter 1.0 Mtpa Ore Haulage ROM 3 Stage Crusher -20mm Heavy Media Separation >3mm Mica Removal Crushed Ore Bin 4th Stage Crusher 1o Screening -6mm Heavy Media Attritioner Separation +0.85mm Waste Waste 1o Spodumene Reflux Classifier Recovery <3mm Heavy Media Separation -0.5mm 2o Spodumene Recovery Attritioner Thickener Ball Mill Waste Waste Product Filter Spodumene Product 140,000 tpa 5.5% Li2O Flotation Dry Stacking Tails QLPH Li Refinery Figure 1 – QLPH Concentrator Flow Sheet So far, the Primero Study team has provided a Block Flow Diagram (BFD) and Process Flow Diagrams (PFD). They've also delivered a Mass Balance along with Process Design Criteria (PDC), which showcase mass flows, splits, and anticipated tonnages concerning significant equipment. The team has initiated work on the Piping and Instrumentation Diagrams (P&IDs) to present a more intricate layout of equipment, process streams, instrumentation, and control logic. Leveraging the information derived from the Mass Balance and PDC, Primero has begun generating datasheets. These datasheets will serve to gather pricing details from vendors, facilitating the procurement process. The progress made thus far has been excellent, and the current status includes: Table 1 – Deliverables status from Primero Deliverables Block Flow Diagrams Process Flow Diagrams Process Design Criteria Mass Balance Percent Complete 95% 85% 80% 80% Table 2 – Detailed deliverables status from Primero Deliverables Mechanical Equipment List Datasheets Shope Detailing Sepcification Packaging and Shipping Specification Surface Protection Specification Rubber Lining Specification General Mechanical Specification Platework Specification Piping Fabrication Specification Piping material and valves Specification Plant Numbering Line List Valve List Special Items List Platework MTO Lithium Universe Limited ASX:LU7 ABN 22 148 878 782 Percent Complete Suite 9, 295 Rokeby Road, Subiaco, WA 6008, Australia 50% 30% 70% 70% 70% 60% 70% 70% 70% 85% 30% 30% 30% 25% Telephone: +61 02 8046 2799 Website: www.lithiumuniverse.com Investor Hub: investorhub.lithiumuniverse Mr Iggy Tan, the Chairman of LU7 said “The engineering study's progress for the QLPH stand-alone concentrator by Primero has been exceptional, setting the stage for the Definitive Feasibility Study (DFS). Considering our listing in early August this year, the pace and quality of work demonstrated by Primero, guided by the Company's Lithium Dream Team, has been truly remarkable. Most companies conducting a study of this calibre typically take at least six to nine months to reach this point. Looking ahead, finalizing equipment specifications and data sheets represents the next step, enabling us to approach suppliers for concrete pricing. The ongoing progress and achievements continue to impress us”. Authorisation -Ends- This announcement had been authorised for release by Iggy Tan, Chairman of Lithium Universe Limited. For more information, please contact: Alex Hanly Chief Executive Officer Lithium Universe Limited Email: info@lithiumuniverse.com Iggy Tan Chairman Lithium Universe Limited Email: info@lithiumuniverse.com Lithium Universe Interactive Investor Hub Engage with Lithium Universe directly by asking questions, watching video summaries and seeing what other shareholders have to say about this, as well as past announcements, at our Investor Hub https://investorhub.lithiumuniverse.com/ Forward-looking Statements The Company wishes to remind investors that the presence of pegmatite does not necessarily equate to spodumene mineralization. Also that the presence of pegmatite and spodumene mineralization on nearby tenements does not necessarily equate to the occurrence on Lithium Universe Limited’s tenements. This announcement contains forward-looking statements which are identified by words such as ‘anticipates’, ‘forecasts’, ‘may’, ‘will’, ‘could’, ‘believes’, ‘estimates’, ‘targets’, ‘expects’, ‘plan’ or ‘intends’ and other similar words that involve risks and uncertainties. Indications of, and guidelines or outlook on, future earnings, distributions or financial position or performance and targets, estimates and assumptions in respect of production, prices, operating costs, results, capital expenditures, reserves and resources are also forward looking statements. These statements are based on an assessment of present economic and operating conditions, and on a number of assumptions and estimates regarding future events and actions that, while considered reasonable as at the date of this announcement and are expected to take place, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of our Company, the Directors and management. We cannot and do not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained in this announcement will actually occur and readers are cautioned not to place undue reliance on these forward-looking statements. These forward looking statements are subject to various risk factors that could cause actual events or results to differ materially from the events or results estimated, expressed or anticipated in these statements. Lithium Universe Limited ASX:LU7 ABN 22 148 878 782 Suite 9, 295 Rokeby Road, Subiaco, WA 6008, Australia Telephone: +61 02 8046 2799 Website: www.lithiumuniverse.com Investor Hub: investorhub.lithiumuniverse About Lithium Universe Limited (ASX:LU7) LU7's main objective is to establish itself as a prominent Lithium project builder by prioritizing swift and successful development of Lithium projects. Instead of exploring for the sake of exploration, LU7's mission is to quickly obtain a resource and construct a spodumene-producing mine in Québec, Canada. Unlike many other Lithium exploration companies, LU7 possesses the essential expertise and skill to develop and construct profitable projects. Additionally, Lithium Universe Limited has access to significant Lithium opportunities in Tier 1 mining jurisdictions in Canada and Australia. Tier 1 Lithium Inventory Apollo Lithium Project (80%) Commanding a land position spanning over 240 km2, Apollo is located in the same greenstone belt and only 29 kilometres south-east of the Corvette Lithium Project owned by Patriot Battery Metals (market cap of over A$1.4 billion). Patriot's most successful drill result was a remarkable 156 meters at 2.12% Li2O at CV5. Similarly, 28 kilometres to the east, Winsome Resources Limited (market capitalization of over A$300 million) recently announced drilling hits of 107 meters at 1.34% Li2O from 2.3 meters (AD-22-005) at their Adina Project. Apollo has 17 pegmatite outcrops reported on the tenement package. Given the exceptional results from these neighbouring projects, the Apollo Lithium Project has the potential to be equally successful. Adina South & Adina West Lithium Project (80%) The project is situated in close proximity to the Adina discovery, which is owned by Winsome Resources, a Company with a Market Capitalisation of over A$300m in the market. The Adina Project has produced a visual pegmatite intersection of over 160m in drills, lying beneath outcropping 4.89% Li2O. Recently, Winsome Resources reported successful drilling results, with AD-22-005 yielding 107m at 1.34% Li2O from 2.3m at their Adina Project. The Adina South & Adina West Lithium Project boasts one of the largest prospective land holdings near Winsome Resources Limited. Aerial satellite images have revealed similar pegmatite occurrences at the surface. Margot Lake Lithium Project (80%) The Margot Lake project is located in north-western Ontario, in the premium lithium mineral district of Ontario’s Great Lakes region. The project is situated 16km southeast of Frontier Lithium’s (TSX-V: FL) PAK Deposit, which contains 9.3Mt at 2.0% Li2O, and 18km away from Frontier’s Spark Deposit, which contains 32.5Mt at 1.4% Li2O. The tenement contains nine confirmed and mapped pegmatites and is located in a highly competitive district due to recent major discoveries of lithium. Frontier Lithium, with a market capitalization more than CAD$450 million, is a significant player in the region. Lefroy Lithium Project (100%) Lefroy is in the mineral-rich Goldfields region of Western Australia. This strategically located project is in close proximity to the Bald Hill Lithium Mine, which has a top-quality spodumene concentrate with low levels of mica and iron, as well as significant tantalum by-product production. The Bald Hill mine has a resource of 26.5 million tonnes at 1.00% Li2O. The Lefroy project is also located near the Mt. Marion Lithium Mine, which is owned by Mineral Resources and has a market capitalization of A$17B. Mt. Marion produces 900,000 tonnes of mixed-grade spodumene concentrate annually and is approximately 60 kilometres from the Lefroy project. Voyager Rare Earth Project (80%) The Voyager project is north tenements are positioned between ABx Group tenures, where clay-hosted rare earth elements (REE) and niobium have been discovered and hold resources of 27Mt. These areas are analogous with Ionic Adsorption Clay (IAC) deposits that have produced REE in southern China using simple leaching. ABx stated that early testwork indications show their rare earth elements are easily leached and could be concentrated at low cost, with no deleterious elements. Geological mapping of Voyager's tenures indicates the presence of various areas of clay and bauxite, which is the ideal geological environment for the occurrence of rare earth elements. Lithium Universe Limited ASX:LU7 ABN 22 148 878 782 Suite 9, 295 Rokeby Road, Subiaco, WA 6008, Australia Telephone: +61 02 8046 2799 Website: www.lithiumuniverse.com Investor Hub: investorhub.lithiumuniverse