GL1 TO SPIN OUT GOLD ASSETS VIA MB GOLD IPO

Global Lithium launches ASX IPO process to unlock value from Marble Bar gold assets

Global Lithium Resources Limited (ASX:GL1) has announced plans to spin out its Marble Bar gold assets into a new entity, MB Gold Limited (MB Gold), with an Initial Public Offering (IPO) targeting a listing on the ASX under the ticker MBG in Q1 2026.

Global Lithium will retain its core lithium assets and battery mineral rights at the Marble Bar Lithium Project, including a Mineral Resource of 18 million tonnes at 1.0% Li₂O, located 150km south-east of Port Hedland in Western Australia.

The spin-out includes GL1’s Twin Veins and Douglas Find prospects at the northern end of its Marble Bar tenement package, covering approximately 515km². MB Gold will also acquire seven additional strategic tenements acquired through the Talga Project, including the Razorback gold-in-soil anomaly zone near the Mt Edgar Batholith.

Under the terms of the Implementation Agreement, MB Gold will acquire 100% of GL1’s interest in the gold and base metal mineral rights for the Marble Bar region.

Consideration payable to GL1 includes:

8,000,000 MB Gold shares
$900,000 (subject to ASX confirmation under Listing Rule 1.1)

MB Gold intends to raise a minimum of $6 million through the IPO by issuing 30 million shares at $0.20 each. Global Lithium shareholders will have a priority right to subscribe for shares.

Assuming the raise is successful, GL1 will hold approximately 18% of MB Gold.

Key Historical Drill Results

Twin Veins

7m @ 4.78 g/t Au from 11m (MBRC0159)
6m @ 4.7 g/t Au from 49m (MBRC0623)
4m @ 4.85 g/t Au from 86m (MBRC0619)
5m @ 3.94 g/t Au from 118m (MBRC0621)
12m @ 2.95 g/t Au from 37m (MBRC0157)

Douglas Find

1m @ 7.16 g/t Au from 75m (MBRC0629)
4m @ 1.16g/t Au from 36m

Razorback

16m @ 1.99 g/t Au from 0m (TPAC079)
13m @ 1.79 g/t Au from 42m (TPAC088)
5m @ 2.23 g/t Au from 24m (TPAC080)

Global Lithium Managing Director Dr Dianmin Chen said:
The decision by the Global Lithium Board to spin-out GL1’s gold tenure near Marble Bar was designed to realise value from those assets and reduce tenement holding costs, as part of the Company’s focus on progressing toward development of its flagship Manna Lithium Project near Kalgoorlie.