Lithium Africa Corp. Completes the First Phase of the Acquisition of the Springbok Project
LEGAL_49111144.1
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Lithium Africa Corp. Completes the First Phase of the Acquisition of the
Springbok Project
Lisbon, Portugal – March 30, 2026 : Lithium Africa Corp. (formerly named Lombard Street
Capital Corp.) (TSX-V: LAF | FSE: 6MQ ) (the “Company”) announces that, further to its news
release on February 25, 2026, the Company has completed the first phase of the acquisition of
Namli Exploration & Mining Proprietary Limited (“ Namli”). The Company has acquired 30% of
the issued and outstanding shares of Namli and is currently proceeding with the second phase
of the acquisition (the “ Acquisition”). Namli owns the Springbok Project, a large lithium project
in South Africa, including a past -producing spodumene mine, a related ore stockpile and 1,675
km2 land package.
In connection with the completion of the first phase of the Acquisition, the Company will issue to
an arm’s length consultant as finder’s fee 77,949 common shares of the Company (the “ Finder
Shares”) at a deemed price of $1.78 per Finder Share, which remains subject to TSX Venture
approval. The remaining finder’s fee of US$100 ,000 will be paid in Finder Shares when the
Company completes the second phase of the Acquisition. The Finder Shares are subject to a
statutory hold period in Canada expiring four months and one day from the date of issuance.
About Lithium Africa Corp.
The Company has an established 50/50 joint venture partnership with GFL International Co.,
Ltd. to jointly advance exploration in Africa (the “LAR-GFL JV”) and, through the LAR-GFL JV,
the Company has an indirect 50% interest in a portfolio of exploration assets in hardrock
pegmatite districts across a number of prospective African regions covering South Africa, Ivory
Coast, Guinea, Mali and Zimbabwe. For more information, please visit www.li-africa.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF LITHIUM AFRICA CORP.
Tyron Breytenbach, CEO & Director
For further information regarding the Company contact:
Jeanne Liu, Corporate Communications at [email protected], 1.604.771.7125.
Cautionary Note Regarding Forward-Looking Statements
Statements contained in this news release that are not historical facts may be forward- looking statements
within the meaning of applicable securities legislation . These forward- looking statements involve risks,
uncertainties and other factors that could cause actual results to differ materially from those expressed or
implied by such forward- looking statements, including the completion of the Acquisition and the issuance
of the remaining Finder Shares . In addition, the forward- looking statements require management to make
assumptions and are subject to inherent risks and uncertainties. There is significant risk that the forward-
looking statements will not prove to be accurate, that the management’s assumptions may not be correct
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and that actual results may differ materially from such forward- looking statements. Accordingly, readers
should not place undue reliance on the forward- looking statements. Generally forward-looking statements
can be identified by the use of terminology such as “anticipate”, “will”, “expect”, “may”, “continue”, “could”,
“estimate”, “forecast”, “plan”, “potential” and similar expressions. These forward- looking statements are
based on a number of assumptions which may prove to be incorrect which, without limiting the generality
of the following, include: the ability of the Company to complete the Acquisition ; general business,
economic, competitive, political and social uncertainties; delay or failure to receive regulatory approvals;
risks inherent in exploration activities; the impact of exploration competition; unexpected geological
conditions; changes in government regulations and policies, including trade laws and policies; failure to
obtain necessary permits and approvals from government authorities; volatility and sensitivity to market
prices; volatility and sensitivity to capital market fluctuations; environmental and safety risks including
increased regulatory burdens; weather and other natural phenomena; and other exploration,
development, operating, financial market and regulatory risks. The forward- looking statements contained
in this press release are made as of the date hereof or the dates specifically referenced in this press
release, where applicable. Except as required by applicable securities laws and regulation, the Company
disclaims any intention or obligation to update or revise any forward- looking statement, whether as a
result of new information, future events or otherwise, except as required by applicable securities laws. All
forward-looking statements contained in this press release are expressly qualified by this cautionary
statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.