17 December 2021

Zinnwald Lithium plc

("Zinnwald Lithium" or the "Company")

Distribution of Zinnwald Shares owned by Bacanora

The Zinnwald Board notes today's announcement by Bacanora Lithium plc ("Bacanora") regarding the distribution in specie of the shares held by Bacanora in Zinnwald to Bacanora's shareholders. The distribution of these shares, representing 30.9 per cent. of Zinnwald's issued share capital, will happen on 22 December 2021.

Anton du Plessis, CEO of Zinnwald said: 

"I am pleased to welcome the Bacanora shareholders to Zinnwald and I look forward to updating all shareholders in the new year on progress at the Zinnwald Lithium Project and our plans to further advance the asset."

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Notes

Zinnwald Lithium plc (EPIC: ZNWD.L) is an AIM quoted, German focused lithium development company focussed on becoming an important supplier to Europe's fast-growing battery sector. The Company owns the Zinnwald Lithium Project in Germany, a late-stage development project with attractive economics and approved mining licence.  A Feasibility Study, published in June 2019, highlighted a €428m pre-tax NPV, a pre-tax IRR of 27.4% and a 46% EBITDA margin for Zinnwald.  The project is located in the heart of Europe's chemical and automotive industries and has the potential to be one of Europe's most advanced battery grade lithium projects.