Lithium Africa Intersects 8.0 m at 1.70% Li2O, including 4.0 m at 2.59% Li2O, Extending High-Grade Mineralization at Norrabees I

Lithium Africa Corp. released complete assay results on 2026-10-15 for diamond hole NB1DD26-004 at the Norrabees I prospect within the Springbok Project in the Northern Cape, South Africa. The headline intercept returned 8.0 m at 1.70% Li2O from 21.0 m downhole, including 4.0 m at 2.59% Li2O from 21.0 m, with a maximum single-sample value of 4.11% Li2O.

This release completes a hole partially reported on 2026-09-30, when only the 21.0-22.0 m sample (4.11% Li2O) was disclosed and the 22.0-44.0 m samples were quarantined pending re-analysis after a CRM failure. The interval is reported at a 0.4% Li2O cut-off with a maximum of 2 m of consecutive internal dilution. The "including" interval is at a 1.0% Li2O cut-off with no internal dilution, and no top cut was applied. Internal dilution explicitly includes 2.0 m: 25.0-26.0 m at 0.27% Li2O and 27.0-28.0 m at 0.13% Li2O.

Mineralization consists of coarse-grained pegmatite from 20.17 m to 30.32 m, with spodumene dominant from 21.0 m to 29.59 m, densest from 21.0-24.85 m. The rock features large white-green crystals with pink-purple kunzite. True widths are not stated.

Other holes reported to date (2026-09-30) are restated as follows:

• NB1DD26-003: 7.5 m at 1.97% Li2O from 18.5 m (including 6.0 m at 2.27%)
• NB1DD26-001: 4.0 m at 2.25% Li2O from 2.0 m
• NB1DD26-002: 0.78 m at 0.95% Li2O

The program status includes three rigs (one RC, two diamond), with 2,930.37 m in 94 holes as of 2026-10-10. Additionally, 1,000 m of channel sampling is under way across 21 pegmatites. Further assays, including NB1DD26-005, -006, -007, and -008, are pending, with results expected in Q4 2026 and Q1 2027.

Lithium Africa Corp. (LAF) released the completion of a drill hole previously known to the market, adding an 8.0 m interval grading 1.70% weighted. This follows the announcement on 2026-09-30 of a 4.11% sample and pending re-analysis of samples from 22-44 m. The result converts a 1 m sample into a screened-down 8 m intercept, confirming a second hole into the same zone and resolving prior uncertainty regarding the re-analysis. It does not, however, discover a new zone, materially step out, or change the scale of the deposit.

The market anchor remains the first results announced on 2026-09-30, which reported 7.5 m at 1.97% and 4.0 m at 2.25%. These figures are not embedded in the current price action. The share price moved from C$1.03 on 2026-09-15 to C$0.93 on 2026-09-30, then fell to C$0.81 on both 2026-10-07 and 2026-10-14, nearing the 52-week low of C$0.78. This pricing reflects essentially zero drilling success.

To do so, it would need to be materially better in grade-and-width substance than any previously demonstrated on the property. This hole is arguably slightly worse on a %·m basis (13.6 vs 14.8) than the anchor and is materially narrower than the company's historical Norrabees holes. As a pre-resource junior explorer with a market capitalization of approximately C$20M, each hole typically carries significant weight, but this down-dip twin of a previous hole carries less informational value than a genuine extension.

The release does not change the resource or investment thesis. No current resource estimate exists; the only historical estimate is approximately 72 kt at 1.27% Li2O. This announcement neither grows nor de-risks a resource at a meaningful scale. Prior-period context indicates a Q1-2026 net loss of approximately US$3.94M, driven largely by RTO listing and transaction costs. Working capital stood at approximately US$9.7M as of 2026-03-31, with corporate cash of C$4.0M per the investor presentation. The company states the drill program is fully funded, with no revenue generated to date.