Cape Town, South Africa--(Newsfile Corp. - July 7, 2026) - Lithium Africa Corp. (TSXV: LAF) (FSE: 6MQ) (OTCQB: LTAFF) ("Lithium Africa" or the "Company") is pleased to provide a corporate update following Dr. Thomas Benson's appointment as Chief Executive Officer, effective July 1, 2026. Lithium Africa is a capital-efficient lithium explorer backed by Ganfeng Lithium Group Co., Ltd. ("Ganfeng"), as its largest strategic shareholder (~13.2%) and 50/50 joint venture ("JV") partner. The Company now has drill programs (the "Programs") underway at both of its anchor projects: the Springbok Project in South Africa (the "Springbok Project") and the Adzopé Project in Côte d'Ivoire (the "Adzopé Project").
Dr. Thomas Benson, Chief Executive Officer, commented: "With drilling now underway at both Springbok and Adzopé, Lithium Africa has moved decisively from consolidation into active, results-focused exploration. We built this portfolio counter-cyclically over four years; we are now drilling to prove its potential, and we intend to do it without unnecessary dilution to our shareholders."
Highlights
Both anchor projects now actively drilling: a 3,500-meter diamond and reverse-circulation program at Springbok targeting a maiden mineral resource at the Norrabees pegmatites, and a 2,000-meter reverse-circulation program at Adzopé, both targeting mapped surface exposures of spodumene-bearing pegmatites.
Non-dilutive funding advancing: the Company continues the process to monetize the existing stockpile at Springbok (the "Stockpile Sale"). Several counterparties are engaged in the process (see "Springbok Stockpile Sale Update" below and the Company's news release dated June 9, 2026). A resampling program has been completed and results are expected in the coming weeks. This is in line with the Company's strategy to fund multiple drill programs per year while minimizing share dilution.
District-scale upside: the approximately 1,675 km2 Springbok land position covers a more than 50 km-long pegmatite field on which the Company has identified more than 40 spodumene-bearing pegmatites, a subset of which will be tested in this campaign.
Leadership and team: new Chief Executive Officer Dr. Thomas Benson set out a capital-efficient strategy and a strengthened African operating team to execute it.
Côte d'Ivoire Exploration Program Updates
At the Adzopé Project in Côte d'Ivoire, located approximately 100 km from the port of Abidjan along a paved road, a 2,000-meter reverse-circulation drill campaign is underway (Figure 1). The Adzopé target is part of the Saby Trend, a multi-kilometer spodumene-bearing pegmatite corridor supported by geological mapping, geochemistry, and trenching. Drill samples from this campaign will be submitted for assay, with results expected in Q3 2026 once received and verified. Previously announced trenching at the Agboville license is expected to commence at the end of the rainy season, later in 2026, alongside a newly designed auger program. Concurrently, the Company has initiated a regional mapping and geochronology campaign around its licenses to improve genetic models and refine targets following the identification of spodumene outcrops in the region.