Charger Metals Unveils Maiden 8.2Mt Lithium Resource and Launches New Drilling Campaign

Maiden Lithium Resource Marks a Milestone

Charger Metals NL has taken a significant step forward in its lithium exploration journey with the announcement of a maiden inferred mineral resource estimate of 8.2 million tonnes at 1.0% lithium oxide (Li2O) at the Medcalf Lithium Deposit, part of the Lake Johnston Lithium and Gold Project in Western Australia. This milestone, reported in August 2025, underscores the project's potential to become a meaningful contributor to the battery minerals sector.

The resource estimate was prepared in accordance with the JORC Code, lending credibility and transparency to the findings. Adjacent to Medcalf, the company has also defined an exploration target of 3 to 5 million tonnes grading between 1.0% and 1.4% Li2O at the Medcalf West Prospect, which remains open for further expansion both laterally and at depth.

Rio Tinto Partnership Fuels Exploration Momentum

Rio Tinto Exploration Pty Limited (RTX) is playing a pivotal role in advancing the Lake Johnston project through a farm-in agreement that includes sole funding of a $1.1 million exploration program. This program kicked off in October 2025 with a fully permitted 3,000-metre reverse circulation (RC) drilling campaign targeting multiple lithium and gold prospects, including five priority targets at Mt Gordon and the Whitten Lithium Caesium Tantalum pegmatite target at Mt Day.

To date, nine holes totaling 1,206 metres have been drilled, with assay results expected within six to nine weeks. This drilling is crucial as it tests previously untested lithium-in-soil anomalies, some of which coincide with gold anomalies, potentially enhancing the project's value proposition.

Gold Prospects and Broader Exploration Plans

Beyond lithium, Charger Metals is also advancing its gold exploration efforts. A fully permitted drilling program is planned for November 2025 at the Richard Gold Prospect, reflecting the company's diversified approach within the Lake Johnston project area. The presence of gold anomalies alongside lithium targets could provide a compelling multi-commodity development scenario.

Meanwhile, at the Bynoe Lithium Project in the Northern Territory, Charger holds 100% interest and continues to evaluate strategic options, including potential partnerships or asset sales. Although no drilling occurred during the quarter, the project remains prospective with multiple lithium targets yet to be tested.

Corporate Developments and Financial Position

Charger Metals underwent a board restructure in September 2025, appointing Bryan Dixon as Managing Director and Tim Armstrong as Non-Executive Director. Dixon brings extensive experience in mining and finance, which is expected to steer the company through its next growth phase. The company ended the quarter with $2.26 million in cash and a tightly held capital structure, with a market capitalization of approximately $5.6 million.

Charger continues to evaluate new opportunities in the gold and battery metals sectors, signaling an active approach to growth and value creation for shareholders.