Corporate Presentation
Released
Released
Announcement PDF
CHARIOT CORPORATION
NIGERIA
Leading the 2025 Lithium Recovery
Investor Presentation
July 2025
Nigeria Acquisition Summary
Multiple Lithium
Processing Plants
Chariot Acquiring Majority Stake in Large Nigerian Lithium Portfolio
• Chariot Corporation Ltd (“Chariot”) is acquiring 66.7% interest in a portfolio of four(4) assets including 8 exploration licenses and 2 smallscale mining licenses
• Continental Lithium Limited (“Continental”) will retain a 33.3% stake and remain in-country partner & co-manager
• Chariot will own 66.7% and control the JV, fully funding exploration until the JV generates US$50M revenue and US$10M of CAPEX —
fast-tracking development through efficient financing structure, while leveraging Continental’s local expertise and alignment to de-risk
execution
Four(4) Assets with a History of Prior Production
• Historically artisanal-mined lithium pegmatites at surface
• 2021–23 hand sorted mineral concentrate sales to China confirming commercial viability
Large-scale Exploration Potential
• Numerous artisanal mining pits at each project
• The JV’s assets represent Nigeria’s largest lithium portfolio – first-mover advantage in an underexplored province
• Projects lie in historic tin/tantalum belts—fertile zones now proven to host lithium-rich LCT pegmatites
• Nigeria is geologically analogous to Brazil’s ‘Lithium Valley’
Shipping Routes: the Atlantic & the Indian Ocean.
[
] West Africa: Lagos > China: Shanghai
Shipping Routes: the Atlantic & the Indian Ocean.
] West
Shipping Routes:[ the Atlantic & the
IndianAfrica:
Ocean. Lagos > China: Shanghai
[
Strong Chinese Customer Offtake Appetite
• China dominates the EV and battery supply chain, excluding raw material mining
• Africa's lithium deposits are key to China's strategy for independent raw-material supply
• Chinese lithium purchasers are seeking offtake from Nigeria
SHANGHAI
] West Africa: Lagos > China: Shanghai
LAGOS
Infrastructure & Export Market Advantage
• ~170-400 km to Lagos Port – straightforward road haulage for export & ability to access Nigeria’s
significant gas resources & infrastructure for power generation
• Global market access – positioned to supply both Western and Chinese EV markets
• Four (4) new lithium processing plants set to open in 2025
Hong Kong
✦ ABIDJAN
✦
Mumbai
✦ Colombo
Notes:
1) Lithium processing plant locations are indicative only with general locations sourced from; (i) Ganfeng Lithium Industry Ltd US$250m lithium plant:
https://www.vanguardngr.com/2023/10/tinubu-lays-foundation-for-250m-lithium-factory-in-nasarawa/, (ii) Avatar New Energy Materials Company Limited US$200m
lithium plant: https://www.thecable.ng/tinubu-to-chinese-companies-dont-leave-communities-in-ruins-as-you-explore-minerals/, (iii) US$600m lithium plant:
https://thenationonlineng.net/600m-lithium-processing-plant-ready-soon/, and (iv) Jupiter Lithium Ltd modular lithium plant: https://dailytrust.com/mining-sector-getsinternational-boost-with-jupiter-lithium-bevexs-processing-agreement/.
Investor Presentation
July 2025
✦Singapore
✦ Durban
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2
Acquisition Terms & Pro-forma Capital Structure
Item
Transaction
Structure
Description
• Chariot will acquire a 66.7% stake in C&C Minerals Limited (“C&C Minerals”), a new Nigerian
subsidiary holding 10 lithium licences acquired from Continental Chariot will act as operator
and co-manager, fully funding pre-development costs until C&C Minerals reaches US$50
million in annual revenue
•
Transaction
Consideration
Continental Team
Transaction
Completion
Process
•
Upfront (on signing and settlement):
•
US$150,000 non-refundable payment (on signing)
•
US$350,000 cash at Settlement
•
24 million Chariot shares (subject to 12-month escrow and shareholder approval)
Deferred Consideration:
•
By 31 Dec 2025: US$500,000 cash
•
By 31 Dec 2026:
•
US$500,000 cash
•
18 million Chariot shares (escrowed 12 months; conditional on exploration licenses
and small-scale mining licenses remaining in good standing)
• Continental will remain co-manager and liaison with Nigerian authorities and local
communities
Chariot Corporation Ltd: Pro-forma Capital Structure
Currentlyon-Issue
Acquisition
Tranche 1
(September
2025)
Acquisition
Tranche 2
(December
2025)
Acquisition
Tranche 3
(December
2026)
ProForma
Shares
160.8m
24.0m
-
18.0m
202.8m
Options
16.9m
-
-
-
16.9
Performance
Rights
5.6m
-
-
-
5.6m
Cash1
-
($0.77m)
($0.77m)
($0.77m)
($2.31m)
Undiluted
Shares on
Issue
160.8m
184.8m
184.8m
202.8m
202.8m
Diluted Shares
on Issue
183.3m
207.3m
207.3m
225.3m
225.3m
• Requires shareholder approval and regulatory approval, including in-principal confirmation
from ASX that ASX Listing Rule 11.1.3 does not apply to the acquisition
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3
Board & Management
Shanthar
Pathmanathan
Frederick
Forni
Executive
Director
Managing
Director
• Former CEO & MD of Lithium Consolidated Ltd, which
held one of the world’s largest hard rock lithium
exploration portfolios.
• 14 years of investment banking experience across
metals & mining, oil & gas, and chemicals sectors.
• Senior finance professional with over 25 years of
investment banking experience.
• Prior Senior Managing Director of Macquarie Holdings
(USA) Inc.
• Holds a B.A. in Economics from Connecticut College, a
cum laude J.D. from Georgetown, and an LL.M. in
Taxation from NYU Law.
Dr. Edward
Max Baker
Geological
Consultant
• Ph.D. Geologist and a fellow AusIMM.
• Over 50 years of experience, working across multiple
continents and commodities, including tin-tantalum
pegmatites.
• Prior Chief Geologist at Newcrest.
Continental Lithium –
Nigeria Team
Lanre
Afebuameh
Principal co-founder of Continental. Entrepreneur with success
across industries, including petroleum products marketing and
logistics, and mining.
•
W.
Pierce
W. Pierce
Carson,
PhD
Carson, PhD
Ramesh
Chakrapani
Chief Strategy
Officer
Neil
Stuart
Non-Executive
Director
International mining veteran with over 40 years experience.
Previously served as chief executive of Santa Fe Gold, Nord
Pacific, and Nord Resources.
Geological Consultant
• Over 20 years of experience in the investment banking
and alternative asset investing space including over 15
years at The Blackstone Group where he was a
Managing Director.
• Represented The Blackstone Group on the boards of
selected investments.
• Mr Chakrapani has a B.A. from Yale University.
• Founding Director and former Chairman of Orocobre
Limited, now Arcadium Lithium (ASX: LTM) following
its merger with Galaxy Resources and Livent
Corporation.
• 50 years’ exploration experience, including 20 years
focused on lithium project discovery and development.
African Chief Geologist
21 years’ experience in West African geology and
exploration with significant experience in lithium, tin and
columbo-tantalite mineralization.
Dr Israel
Ovirih
NIGERIA
Chief Operating Officer
Pioneered greenfield investments in mines acquisitions as well
as export trading of Lithium Ore, Columbite, Zircon sand and
Tantalite to Asia.
David
Kwarteng
Michael Cronwright
Chief Executive Officer
•
Ronald
Onosode
External Independent Consultant
President & Vice Chair
Non-Executive Director
Chairman and CEO of Banklink Africa Group. Over 30 years in
international financing & investment banking.
Engr. Jacob
Adeyemo
Non-Executive Director
Mining and mineral engineer with 25 years of mine development
experience in Nigeria.
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4
Market Share:
CHINA DOMINATES
THE LITHIUM-ION
BATTERY SUPPLY
CHAIN
• China dominates the global EV and battery supply
chain—except for raw material mining.
CHINA
RAW MATERIAL
MINING
RoW
US
REFINING
COMPONENT
MANUFACTURING
• China is exploiting first-mover edge with export
bans, tariffs and “tech nationalism”
• Beijing is aggressively securing upstream lithium
supply—especially in Africa
• Africa, home to the world’s richest hard rock
lithium deposits, is central to China’s strategy.
CHINA
CELL & PACK
MANUFACTURING
END-USE IN EV /
STORAGE
InvestorInvestor
Presentation
June July
20252025
Presentation
Investor Presentation July 2025
China’s lithium
reserves can’t supply
its battery supply
chain industries so it’s
aggressively investing
in developing mining
in Africa
Notes:
1) Company estimates based upon research reports and new filings including but not limited to;
the International Energy Agency (IEA), BloombergNEF, and Benchmark Minerals Intelligence.
.
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5
GLOBAL EV DEMAND
2025 GLOBAL EV DEMAND OFF TO
A STRONG START LED BY CHINA,
+34% Y/Y
China represents >60% of global EV market, with continued
strong growth supported by government incentives
Global EV sale show strong growth through Feb
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6
Africa’s Artisanal Lithium Surge has Occurred Despite
the Weak Global Lithium Pricing Environment
• Explosive Supply Growth: Artisanal and small-scale mining
(ASM) surging near historic tin–tantalum pegmatites across
Nigeria, Zimbabwe, Namibia, and South Africa
• Accelerating Investment: Nigeria attracted $680M in Q1
2025 direct investment from China while brining in only
negligible Western capital
• Nigeria is Africa’s fastest-growing lithium hub: Ganfeng is
building two lithium processing plants (US$800M
investment backed by Canmax & Jiuling) and Canmax is
committing US$200M+ to develop northern Nigeria lithium
deposits
• Favourable Pricing: African & Nigerian lithium concentrates
now trade at near-parity/ premium to rest of world
• Preferred Lithium Source: China is replacing ASM & DSO in
Nigeria with modern mining and local processing / refining
• Infrastructure Developments: Ganfeng building Africa’s first
large scale lithium conentrator plant—in Nigeria
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7
NIGERIA AND BRAZIL ARE
GEOLOGICAL ANALOGS
AFRICA
SOUTH
AMERICA
-500,000,000
LCT
LCT PEGMATITES FORMED
SEPARATED BY SOUTH ATLANTIC RIFT ~110 MA
BRAZIL
NIGERIA
• Pan-African Lithium Heritage: West African and Brazilian LCT pegmatites formed
~500 million years ago during the same Pan-African/Brasiliano orogeny – an
identical geological age and setting
• NIGERIA
• Gondwana Split: South Atlantic rifting (~110 Ma) tore apart this once-unified
lithium province – leaving mirror geology and pegmatite belts in Brazil and
West Africa (e.g. Nigeria) on separate continents
BRAZIL
• Brazil & Nigeria were formerly global tin/tantalum production hubs –
highlighting similar lithium potential in the same LCT pegmatites
• Sigma Lithium’s world-class Grota do Cirilo (Brazil) project
(109 Mt resource in Pan-African-aged) proves the potentially
huge scale resource – validating the Tier-1 lithium potential of
Nigeria’s similar geology
KEY NIGERIAN
PROJECTS
West Africa
Pegmatites
• NIGERIA
Sigma Lithium
Andrada & Lepidico
Kenticha
BRAZIL
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8
Nigeria:
Country
Overview
Nigeria:
Country
Overview
Nigeria has the most developed economy in West Africa
•
16th oil producer and top 20 gas producer globally
•
Oil & gas accounts for~45% of government revenue and
~90% of exports, but only 5-6% of GDP
•
Significant road, energy and port infrastructure
•
Longstanding presence of international oil companies,
indicates legal stability
0
•
GDP (2024)
Billion U.S. Dollars
500.
375.
250.
125.
0.
South Africa Nigeria
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June
July 2025
2025
Ethiopia
Kenya
Angola Côte d'Ivoire Ghana
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9
Fonlo Cluster: License Maps
LARGER
CLAIM AREA
LICENSE MAPS
• Approx. 10 pits (individual pits up to 200m x 100m) and numerous
trenches along a north-south trending belt
• Selected surface samples of 1% – 6% Li2O
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10
Fonlo Cluster: Images of Artisanal Mining
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Gbugbu Cluster: License Maps
01
• Approx. 10 pits (individual pits up to 400m x 50m) along a north-northeast
trending belt with a second similar belt to the west
• Selected surface samples of 1% – 6% Li2O
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12
Gbugbu Workings and Mineralization
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13
Iganna Cluster: License Maps
01
• Approx. 20 pits (individual pits up to 300m x 200m) along a north-northeast
trending belt with a second similar belt to the west
• Selected surface samples of 2% – 6% Li2O
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14
Iganna: Artisanal Mining Images
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15
RESURGENT
(OR, USA)
93.9%
BLACK MOUNTAIN
(WY, USA)
Resurgent is located in the McDermitt
Caldera, which hosts the two largest known
mineral resources in the U.S. with over
87Mt LCE
Owned
Three (3) diamond drill holes have each
intersected high-grade spodumene
mineralization originating from surface
US LITHIUM
PROJECTS
Horizon
(NV) (USA)
Foreign NI 43-101 MRE of 1.3Mt LCE
indicated (373Mt @ 669 ppm Li) and
8.8Mt LCE inferred (2,454Mt @ 680
ppm Li)1
24.0%
Owned
Notes:
1) Refer to slide 20 & 21 for more information
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16
Black Mountain Project
HISTORICAL EXPLORATION
• Initial rock chip sampling results yielded up to 6.68% lithium oxide (Li2O)
• Phase 1 diamond drilling program completed in February 2024 with first 3 diamond
drill holes intersecting near surface, high-grade spodumene mineralisation
Drill Hole
From (m)
To (m)
Interval (m)
Li2O%
Ta2O5 ppm
BMDDH23_01
2.74
18.23
15.48 (14*)
1.12
78.8
including
4.15
5.49
1.34
1.91
68.0
and
9.94
14.2
4.27
2.46
128.4
BMDDH23_02
1.83
16.15
14.33 (13*)
0.84
61.3
including
10.67
12.95
2.29
3.09
137.7
45.26
62.73
18.81 (8*)
0.85
98.4
47.55
53.34
5.79
1.08
104.9
BMDDH23_03
Includes 2.29m
of core loss
between
45.26m and
47.55m
including
Notes:
1) Refer to ASX announcements dated 2/2/24, 3/5/2024 and 9/7/2025
2) Intervals reported are downhole widths which are greater than true widths (*)
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17
Resurgent Project
OVERVIEW
• The Resurgent Project is a claystone-hosted lithium project
located in the McDermitt Caldera in Oregon and Nevada,
U.S.A.
• The lithium deposits in the Caldera occur in ancient lake
sediments that surround the centre of the caldera
JINDALEE
McDermitt Project
MRE: 21.5mt LCE3
• The Resurgent Project comprises 1,210 claims
• McDermitt Caldera hosts the two largest lithium mineral
resources discovered to-date in the United States
Sample ID
ppm Li
Sample ID
ppm Li
679862
679860
340655
679859
679861
679856
461038
340653
340664
3,865
3,836
3,471
3,164
2,838
2,672
2,638
2,442
2,381
340673
340652
340667
679858
340752
340663
679885
340654
679937
2,089
1,883
1,679
1,650
1,645
1,538
1,526
1,418
1,122
Notes:
1) Chariot holds a 79.4% beneficial interest in FMSL, which owns 100% of the Resurgent Project.
2) FMSL collected 289 surface samples at the Resurgent Project, with 20 samples assaying >1,000 ppm Li and a best assay result of 3,865 ppm Li. Typical mineral
resource estimate cut-off grade for claystone lithium is 1,000 ppm Li. Refer to Independent Technical Assessment Report (Resurgent Project) in Chariot’s Prospectus
dated 23 August 2023 for the full list of assay results.
3) Jindalee’s McDermitt Project which contains a total JORC (2012) Indicated (11.1Mt) and Inferred (10.4Mt) Mineral Resource of 21.5Mt LCE at a 1,000 ppm Li COG. Refer
to Jindalee Resources Limited company announcement 27 February 2023.
4) Lithium Americas Corporation’s (NYSE: LAC) (LAC) Thacker Pass Deposit contains a total NI 43-101 Measured (8.0Mt), Indicated (36.5Mt), and Inferred (21.6Mt) Mineral
Resource of 66.1.1Mt LCE at an 858 ppm Li cut-off grade (“COG”). Refer to Lithium Americas Thacker Pass NI 43-101 dated 31 December 2024.
U.S. Department of
Energy committed a
conditional $2.26b loan
LITHIUM AMERICAS
Thacker Pass Mine
MRE: 66.1mt LCE4
GM committed to invest
US$945m
to develop
Thacker Pass
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18
Horizon & Halo Lithium Projects
OVERVIEW
10.69Mt
LCE MRE1
• The Horizon Lithium Project and Halo Lithium Project, together, consist of 937
mineral claims over 19,358 acres in Tonopah, Nevada, USA
Market Cap:
C$75m4
• The projects neighbour American Lithium Corp.’s (TSX-V: LI) TLC project (MRE 10.69
Mt LCE1) and American Battery Technology Company’s (NASDAQ: ABAT) Tonopah
Flats project (MRE 18.63 Mt LCE2)
• Maiden mineral resource estimate of 1.3 million tonnes LCE indicated and 8.8
million tonnes LCE inferred at Horizon3
• Significant upside remains for resource expansion and definition
• Suitable for low-cost and sustainable mining methods
• Access to great infrastructure – highways, electrical, rail and gas
• Well positioned to benefit from strong federal and state government support
18.63Mt
LCE MRE2
Market Cap:
US$118m4
10.2Mt LCE MRE3
Notes:
1) Consisting of a measured resource estimate of 860 Mt @ 924 ppm Li, an indicated resource estimate of 1,192 Mt @ 727 ppm Li and an inferred resource estimate of
486 Mt @ 713 ppm Li, using a cut-off of 500 ppm Li, prepared in conformity with CIM “Estimation of Mineral Resource and Mineral Reserves Best Practices”
guidelines and is reported in accordance with the Canadian Securities Administrators NI 43-101. Announced on 16 January 2023 by American Lithium Corp.
2) Consisting of a measured resource estimate of 721 Mt @ 702 ppm Li, an indicated resource estimate of 2,439 Mt @ 565 ppm Li and an inferred resource estimate of
2,931 Mt @ 550 ppm Li, using a cut-off grade of 300 ppm Li in accordance with the SEC S-K 1300 New Mining Disclosure Rule. Announced on 18 January 2024 by
American Battery Technology Company.
3) Pan American Energy Corp. announced a maiden Mineral Resource estimate on 20 November 2023. On 4 January 2024, Pan American Energy filed a technical report
pursuant to National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) entitled “NI 43-101 Technical Report for the Horizon Lithium
Project” with an effective date of December 21, 2023. Neither Chariot nor Mustang Lithium LLC has independently verified the information relating to the Horizon NI
43-101 Mineral Resource Estimate.
4) Market capitalisation as of 25/6/2025
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Horizon & Halo Lithium Projects
HORIZON PROJECT: EXPLORATION HISTORY AND RESULTS
Classification
Cut-off
(ppm Li)
Indicated
300
Inferred
300
Total
(K-tonnes)
372,845
2,453,963
Average Grade
Lithium (ppm)
669
680
Lithium
(K-tonnes)
249
1,668
HORIZON PROJECT: EXPLORATION HISTORY AND RESULTS
LCE
(K-tonnes)
Hole No.
From (m)
To (m)
Width (m)
Li (ppm)
Halo-001-23
57.05
95.25
38.23
938
Halo-002-23
212.09
232.34
20.25
1,026
Halo-003-23
179.81
242.01
62.2
994
Halo-004-23
224.33
244.14
19.81
1,368
1,325
8,879
Notes:
1) Neither Chariot nor Mustang Lithium LLC has independently verified the information relating to the Horizon NI 43-101 Mineral Resource
Estimate as published by Pan American Energy Corp. or the exploration results as published by POWR Lithium Corp.
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20
Near-Term Catalysts
NIGERIA EXPLORATION
Drilling
Logging & Assaying
Metallurgy
Soil Sampling
Trenching
OTHER
Planning a Potential Restart of
Artisanal & Small- Scale
Production
BLACK MOUNTAIN
Metallurgy
Drilling
Months:
1
2
3
4
5
6
7
8
9
10
11
12
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21
ESG and Community Commitment Cluster
SUSTAINABLE MINING FOR BOTH SPHERES
ENVIRONMENTAL
• Our lithium exploration projects play a
critical role in supporting lithium
supply chains in both the China and
U.S.
• Ensure regulatory compliance as a
minimum
• Prioritizing the use of existing access
roads
SOCIAL
• Partnering with local
communities, creating jobs and
supporting local economies
• Supporting both the ‘Chinese Made’
and ‘American Made’ electric
vehicle supply chains.
GOVERNANCE
• Ensuring compliance with local
regulations on exploration and
environmental protection.
• Best practice corporate governance
standards and business ethics
• Implementing and maintaining toptier health and safety standard for
employees and business partners.
• Committed to restoration and rehabilitation of
all project sites
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22
Investment Highlights
1.
First-Mover in Nigeria’s Emerging Lithium Province
2.
Counter-cyclical Acquisition
3.
China Battery Market Alignment
4.
Exploration Advantage with Proven Artisanal Lithium
Production
5.
Large-Scale Exploration Potential
6.
Diversified U.S. Lithium Assets: Hard Rock & Claystone
7.
Long-term Exposure to Strategic U.S. Battery Market
8.
Artisanal Lithium Production Restart Potential
– to Recommence Supply to Chinese Customers
9.
NIGERIA
FASTEST
GROWING
LITHIUM
SUPPLY
REGION
CHINA
China seeking
Near-term
African Supply
USA
Near Term Catalysts from Exploration and Drilling in Nigeria
10. Chariot Emerges as True Global
Lithium Company team and partners who are aligned with
long-term value creation objectives
LONGER-TERM U.S.
MARKET POTENTIAL
N o 1 Car Market with Chariot holding
Largest Land Position for Lithium
Exploration
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23
Important Notice
Any material used in this presentation is only an overview and summary of certain data selected by the management of Chariot Corporation Ltd (“Chariot”).
The presentation does not purport to contain all the information that a prospective investor may require in evaluating a possible investment in Chariot and should not be used in isolation as a basis to invest in Chariot. Recipients of this presentation
must make their own independent investigations, consideration and evaluation of Chariot.
The information contained in this presentation is not investment or financial product advice and is not intended to be used as the basis for making an investment decision. Please note that, in providing this presentation, Chariot has not considered the
objectives, financial position or needs of any particular recipient. The information contained in this presentation is not a substitute for detailed investigation or analysis of any particular issue and does not purport to be all of the information that a
person would need to make an assessment of Chariot or its assets. Chariot recommends that potential investors consult their professional advisor/s as an investment in Chariot is considered to be speculative in nature.
Statements in this presentation are current only as of the date of this presentation and the information in this presentation remains subject to change without notice. Reliance should not be placed on information or opinions contained in this
presentation.
To the maximum extent permitted by law, Chariot disclaims any responsibility to inform any recipient of this presentation on any matter that subsequently comes to its notice which may affect any of the information contained in this document and presentation and
undertakes no obligation to provide any additional or updated information whether as a result of new information, future events or results or otherwise. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of
the information, opinions or conclusions contained in or derived from this presentation or any omission from this presentation or of any other written or oral information or opinions provided now or in the future to any person.
The information contained in this presentation is for information purposes only and does not comprise a prospectus, product disclosure statement or other offering document under Australian law. This presentation also does not constitute or form part of any
invitation, offer for sale or subscription or any solicitation for any offer to buy or subscribe for any securities nor shall they or any part of them form the basis of or be relied upon in connection therewith or act as any inducement to enter into any contract or
commitment with respect to securities of Chariot.
The information in this presentation relating to exploration results and exploration targets has been previously reported in accordance with the 2012 Edition of the ‘Australasian Code for Reporting of Exploration results, Mineral Resources and Ore
Reserves’ (JORC Code). Chariot confirms that it is not aware of any new information as at the date of this presentation that materially affects the information included in this presentation and that all material assumptions and technical parameters
underpinning the estimates continue to apply and have not materially changed. This presentation includes “forward looking statements” within the meaning of securities laws of applicable jurisdictions. Forward looking statements can generally be
identified by the use of the words “anticipate”, “believe”, “expect”, “project”, “forecast”, “estimate”, “likely”, “intend”, “should”, “could”, “may”, “target”, “plan” “guidance” and other similar expressions. Indications of, and guidance on, future
earnings or dividends and financial position and performance are also forward-looking statements. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors,
many of which are beyond the control of Chariot and its officers, employees, agents or associates, that may cause actual results to differ materially from those expressed or implied in such statement. Actual results, performance or achievements
may vary materially from any projections and forward looking statements and the assumptions on which those statements are based. Readers are cautioned not to place undue reliance on forward looking statements and Chariot assumes no
obligation to update such information. Cautionary Statement on Visual Estimates: Visual estimates of mineral abundance should never be considered a proxy for laboratory analysis where concentrations or grades are the factor of principal
economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations. By receiving this presentation, you acknowledge and represent to the Company that you have
read, understood and accepted the terms of this disclaimer. It is the responsibility of all recipients of this presentation to obtain all necessary approvals to receive this presentation and receipt of this presentation will be taken by the Company to
constitute a representation and warranty that all relevant approvals have been obtained.
www.chariotcorporation.com
Investor Presentation
July 2025
www.chariotcorporation.com
24
Appendix: Fonlo Cluster
01
Nigeria / Kwara State / FONLO
• This area lies within the lithium-caesium-tantalum (LCT) pegmatite belt of Nigeria’s Pan-African Basement Complex
• Pegmatites trend NW-SE and intrude schists, amphibolites and granites
• Outcrops expose coarse spodumene crystals in pegmatite veins, and disseminations of tantalite, beryl, and spodumene
• Hosts Late Proterozoic LCT-type pegmatites intruding Basement Complex rocks. Pegmatites are associated with tin,
ASSET OVERVIEW
LOCATION
LICENSES
SURFACE AREA
OVERVIEW & GEOLOGY
niobium-tantalum (columbite–tantalite) and other lithophile minerals – a signature of highly fractionated rare-metal
pegmatites
Kwara State (W. Nigeria)
EL-35506 &
EL-040486
02
52.8km 2
ARTISANAL MINING
• Past artisanal mining activity focused on tin and tantalite
• Two (2) active mining sites on two (2) separate pegmatites with intensive artisanal mining for spodumene. Approximately twelve
DISTANCE TO
LAGO PORT
other artisanal mining pits mapped, being less intensively mined for various lithium minerals
290km 2
03
HISTORICAL EXPLORATION
• Historic tin belt with no modern lithium-focused exploration
• Eleven (11) rock chip samples collected from pegmatites—including an artisanal pit—returned assays up to 6.46% Li₂O and averaging 2.32% Li2O
• Individual pegmatites with 40m apparent widths
• Early-stage exploration indicates lithium-bearing pegmatite dike systems
www.chariotcorporation.com
Investor Presentation
July 2025
www.chariotcorporation.com
25
Appendix: Gbugbu Cluster
01
Nigeria /Kwara State / GBUGBU
• Geology: LCT-type granitic pegmatites emplaced in Precambrian schists and gneisses of the Basement Complex. The
Gbugbu-Lema district is part of the same contiguous pegmatite province as Fonlo, extending into north-central Kwara
ASSET OVERVIEW
LOCATION
LICENSES
SURFACE AREA
DISTANCE TO
LAGO PORT
OVERVIEW & GEOLOGY
• Mineralisation: Spodumene visually identified and sampled from pegmatite exposures
Edu Local Government
Area, Kwara State
EL-037243 &
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