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ASX Release

ASX:TLG

6 July 2022

New drill results reveal Niska Link graphite

  • First drilling of 2km long 'Niska Link' target intersects wide and high grade graphite zones at Talga's 100% owned Vittangi graphite project in northern Sweden
  • Significant downhole intercepts include:
    1. 84m @ 20.2% Cg (from 15m) NIS22005 incl. 37m @ 29.6% Cg o 103m @ 17.9% Cg (from 55m) NIS22006 incl. 43m @ 20.2% Cg o 33m @ 21.9% Cg (from 66m) NIS22019 incl. 22m @ 25.7% Cg
      o 29m @ 29.1% Cg (from 58m) NIS22026 incl. 16m @ 35.6% Cg (to end of hole)
  • Remaining results expected in August with an update of Vittangi graphite resource to follow
  • Exploration push on Tier-1 graphite asset driven by strong demand for Talga's European source of anode for Li-ion batteries.

Battery materials company Talga Group Ltd ("Talga" or "the Company") (ASX:TLG) is pleased to report first drill results from recently completed exploration (ASX:TLG 14 Apr 2022) at the Company's 100% owned Vittangi Graphite Project in Sweden ("Vittangi" or "the Project").

The 36-hole drill program was the maiden test of a ~2km long target between the Niska South and Niska North deposits ("Niska Link') where Talga had defined geophysical conductors beneath shallow soil cover (ASX:TLG 26 Oct 2021).

Assay results of the first 13 drillholes at the Niska Link confirm high grade graphite ("Cg") mineralisation over substantial downhole widths, with maximum values reaching 46% Cg (at 14.7m, NIS22008). See Tables 1, 2 and 6 below for drillhole and assay details. Results of remaining drillholes are expected in August and following this, the Company will commence an update of the Vittangi graphite resource.

Vittangi resource growth strategy

Talga is building a vertically integrated operation to supply green natural graphite anode products to Li-ion battery manufacturers and automotive OEM customers. By 2031, Europe is forecast to require ~1 million tonnes anode per annum (tpa), whilst global demand is projected to reach ~8 million tpa1.

Figure 1 Portion of Niska Link drillhole NIS22026 with assays over 58.15 - 76.15m interval.

  • Benchmark Gigafactory Assessment, June 2022

Talga Group Ltd

Suite 3.03, Level 3,

info@talgagroup.com

www.talgagroup.com

ABN 32 138 405 419

46 Colin Street

+61 8 9481 6667

Talga Group

ASX: TLG

West Perth 6005

@Talga_Ltd

Australia

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Figure 2 Cross section of Niska Link Target drillholes (looking approximately east north east).

In March 2022, the Company opened Europe's first coated active anode plant ("EVA") to produce large scale anode samples for advanced battery qualification processes (ASX:TLG 31 Mar 2022). More than 20 battery manufacturers and automotive customers are engaged and receiving Talga's anode samples as part of offtake and financing processes in preparation for commercial production commencing 2024.

The 2022 drilling campaigns are designed to continue testing the large Vittangi JORC exploration target (ASX:TLG 20 Jul 2021) and is expected to contribute towards a further increase of Talga's graphite resource (ASX:TLG 27 May 2022) scheduled for end of 2022. The resource revision aims to further define what is Europe's largest and highest-grade graphite mineral resource to support and optimise potential future anode production expansions.

Authorised for release by the Board of Directors of Talga Group Ltd.

For further information please contact:

Mark Thompson

Nikki Löf

Managing Director

Group Communications Manager

Talga Group Ltd

Talga Group Ltd

+61 (0) 8 9481 6667

+61 (0) 8 9481 6667

www.talgagroup.com

2 / 24

Figure 3 Vittangi Graphite Project map of 'Niska Link' drill target over EM conductors.

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Table 1 Niska Link exploration drilling significant intercept summary (lower cut off 10% Cg). Note all intercepts are downhole widths and are not necessarily indicative of true width. All samples submitted to ALS Global (Malå) for C-IR07,S-IR08,C-IR18 and ME-ICP06 analysis.

Hole

Intercept (downhole)

Mineralisation

Sampling

Drill hole

From (m)

To (m)

Intercept (m)

Cg %

Max internal

dilution (m)

NIS22005

14.70

98.40

83.70

20.17

None

Including

14.70

52.00

37.30

29.64

None

NIS22006

54.55

158.10

103.45

17.91

0.1

Including

56.55

99.50

42.95

20.23

None

and

114.80

156.10

41.20

19.45

0.1

NIS22008

5.40

16.50

10.90

28.02

0.5

and

102.25

112.25

10.00

19.57

None

and

122.80

143.25

20.45

18.33

0.3

NIS22011

84.65

110.55

25.90

14.77

0.4

Including

84.65

94.40

9.75

22.02

0.4

NIS22013

100.85

113.65

12.80

18.62

None

NIS22014

43.30

78.00

34.70

15.21

None

Including

67.80

74.80

7.00

27.77

None

NIS22015

79.80

93.20

13.40

26.05

None

NIS22017

117.35

138.50

21.15

12.72

None

NIS22018

100.00

109.00

9.00

18.20

None

NIS22019

66.25

99.40

33.15

21.89

None

Including

66.25

89.50

22.25

25.70

None

and

36.05

55.40

19.35

18.22

None

NIS22026

58.15

87.60

29.45

29.10

None

Including

58.15

74.15

16.00

35.58

None

NIS22027

45.70

71.40

25.70

21.20

3.1

Including

52.60

64.60

12.00

29.03

None

NIS22028

80.90

104.80

23.90

16.62

0.3

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4 / 24

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Table 2 Diamond drillhole collar summary for 2022 drilling program at Niska Link target of the Vittangi Graphite Project. All coordinates are in Swedish Grid SWEREF 99TM and have been located with a RTK GPS. Drill dimension for all holes is WL76. All drillholes excluding NIS22020, NIS22026 and NIS22027 have been downhole surveyed.

Borehole ID

Deposit

SWEREFF 99TM

Azimuth

Dip

EOH Depth (m)

Easting

Northing

NIS22001

772070

7527798

300

-50

106.6

NIS22002

772024

7527772

302

-50

64.3

NIS22003

772002

7527726

298

-50

85.1

NIS22004

772036

7527711

302

-50

139.5

NIS22005

771957

7527635

303

-50

109.0

NIS22006

771994

7527617

169.1

299

-50

7527850

100.6

NIS22007

772085

302

-50

NIS22008

772120

7527830

302

-50

169.4

NIS22009

771829

7527411

89

-45

159.5

NIS22010

771976

7527529

269

-50

160.8

NIS22011

771878

7527411

92

-45

132.8

NIS22012

771929

7527411

88

-45

84.8

NIS22013

771827

7527461

93

-45

150.7

NIS22014

771878

7527461

91

-45

99.7

NIS22015

771853

7527511

91

-45

108.2

NIS22016

771928

7527361

87

-45

111.4

NIS22017

771878

7527361

91

-45

153.0

NIS22018

771833

7527511

87

-65

127.7

Niska Link

NIS22019

771864

7527627

118

-50

119.8

NIS22020

771830

7527647

118

-50

178.4

NIS22021

771928

7527311

90

-45

106.1

NIS22022

771977

7526964

88

-40

78.1

NIS22023

771909

7527213

88

-45

106.1

NIS22024

771908

7527113

113.3

91

-45

NIS22025

771934

7527113

91

-45

85.0

NIS22026

772014

7527063

271

-45

87.6

NIS22027

772009

7527063

271

-40

71.4

NIS22028

771924

7527013

88

-60

121.6

NIS22029

771954

7527013

89

-50

106.0

NIS22030

771954

7526963

89

-50

108.7

NIS22031

771914

7526963

88

-50

148.6

NIS22032

771750

7526859

109.0

118

-50

NIS22033

771547

7526551

119

-50

94.3

NIS22034

771730

7526812

118

-50

85.6

NIS22035

771707

7526828

116

-50

121.2

NIS22036

771513

7526572

119

-50

81.9

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Talga Resources Ltd. published this content on 05 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 July 2022 22:33:01 UTC.