Fulcrum Lithium Ltd. · ASX:FUL
Fulcrum Lithium — Corporate Update (September 2025)
10 slides from Fulcrum Lithium's corporate update, Sep 30, 2025
Slide 1: Market Update September 30, 2025
Market Update September 30, 2025
Slide 2: Disclaimer
Disclaimer Important legal information This presentation has been prepared by Fulcrum Lithium Ltd (ABN 23 665 528 307) (FUL). The information contained in this presentation is for information purposes only and has been prepared for use in conjunction with a verbal presentation and should be read in
Slide 3: Agenda
Agenda 1. Post-IPO Recap 2. Alkali Flats Phase 2 Drilling Highlights 3. Analogue Lithium Clay Comparisons 4. Forward Program & News flow STRICTLY PRIVATE AND CONFIDENTIAL 3
Slide 4: Post-IPO Recap
Post-IPO Recap • Nov 2024 – ASX IPO • Dec 2024 – Alkali Flats Phase 1 Drill Program • 14 holes, proved Alkali Flats is a Lithium basin in a sub-optimal location. • Feb-Mar 2025: Geological Mapping Program across all 3 projects • Jun 2025 3 • Alkali Flats Phase 2 Drilling – 10 holes • Fairway Maiden
Slide 5: Alkali Flats Phase 2 Highlights
Alkali Flats Phase 2 Highlights • 10 RC holes totalling 1666m in June 2025. • Lithium mineralisation > 300ppm in all Seibert intersections ( 8 holes) • Discovery of significant scale confirmed; • Significant grades: ~450-1050ppm (ave 622ppm) • Significant thickness: >112m in AF2-2 • Significant aeri
Slide 6: Alkali Flats Phase 2 Highlights
Alkali Flats Phase 2 Highlights • Scoping metallurgical study on RC cuttings commenced. Nearby clay comparisons. • Phase 3 permitting work has commenced to plan an infill and extension drilling program (> 20 holes incl core) 42m @413ppm • Claims expansion has been secured. 112m @554ppm 23m @611ppm 1
Slide 7: Nevada Lithium Deposits
Nevada Lithium Deposits • Alkali Flats is located ~ 20km immediately south of TLC (10.7Mt) & Tonopah Flats (16.9Mt) in the same connected ancient lake system. • Southern hub around Tonopah Source: Surge Presentation, 2024 & Clayton Valley are lower grade compared to Thacker & Surge, yet large resour
Slide 8: Tonopah Lithium Clay Deposits v USA Lithium
Tonopah Lithium Clay Deposits v USA Lithium McDermitt Caldera • USA’s largest scale lithium deposits are dominated by claystone projects Tonopah Area in the McDermitt Caldera & Tonopah >40mt LCE hubs in Nevada. • Future major supply centres for domestic lithium production. 3.9 3.9 Source: Modified f
Slide 9: Nevada Lithium Deposit Comparisons
Nevada Lithium Deposit Comparisons Tonopah Flats (ABAT) TLC (ALC) Rhyolite Ridge (INR) Thacker Pass Surge 575ppm 839ppm 1460ppm ~2000ppm 2950ppm AVE GRADE >300 3000ppm ~620ppm 1077ppm max Thacker Pass, Rhyolite Ridge, Surge Tonopah Flats, TLC ~60-70m ~250m THICKNESS >112m max Rhyolite Ridge (INR) Su
Slide 10: Forward Program
Forward Program • October • Geophysical Program – 25km CSAMT Survey CSAMT • Alkali Flats Claims Expansion – 268 claims staked Survey New Claims • Metallurgy Results – initial scoping • Q4 2025 • Alkali Flats Phase 3 Drill program • Core & RC • Detailed metallurgy • Q1 2026 Renewed Claims • Maiden Re