Delta Lithium Reports Strong High-Grade Lithium Drilling Results and Initiates Mt Ida Scoping Study

Mt Ida Project Continues to Deliver High-Grade Lithium Intercepts Bolstering Resource Confidence

Situated about 240 kilometres north of Kalgoorlie, Western Australia, Delta Lithium's Mt Ida Project reported strong lithium drilling outcomes during the June 2026 quarter. Notable intercepts include 11.9 metres grading 1.36% lithium oxide from 423 metres depth in hole BDG001 and 7.4 metres grading 1.36% lithium oxide from 219 metres depth in hole DFS674A. These results stem from exploration drilling by Ballard Mining, which operates adjacent gold resources and has provided valuable lithium geological data to Delta.

The Mt Ida Project benefits from fully permitted mining leases with existing open pit and underground approvals covering the Sister Sam, Timoni, and Sparrow resources. The recent drilling has refined the mineral resource model and will be integrated into the upcoming resource update. A significant intercept of footwall pegmatite approximately 100 metres below Sister Sam, grading 11.9 metres at 1.36% Li2O, lies on the edge of the current resource model, indicating promising down-dip continuity and a target for future drilling.

Advanced Metallurgical Testing Enhances Mt Ida Processing Flowsheet Optimization

Delta is conducting advanced metallurgical testwork on Mt Ida diamond core samples to optimize and mitigate risks in the lithium processing flowsheet. Prior hydrometallurgical tests demonstrated that Mt Ida mica concentrate can produce battery-grade lithium carbonate and rubidium carbonate with high recovery rates. This testing is vital for confirming the technical and economic feasibility of future mining operations.

The metallurgical program also explores rubidium and tantalum recovery, with ongoing discussions with end-users and potential customers. Recovering these byproducts could enhance project economics by generating additional revenue streams from materials otherwise regarded as waste. Optimizing the processing flowsheet during exploration and scoping phases positions Delta for a technically sound and economically viable development plan.

Mt Ida Scoping Study Progressing with Results Expected This Year

As disclosed on 16 May 2026, Delta initiated a scoping study for the Mt Ida Project during the June quarter. The study is progressing well, with results expected later this calendar year. It will evaluate onsite lithium ore production and concentration, incorporating potential byproduct credits from tantalum, rubidium, and other valuable elements.

This scoping study is a key development milestone, providing preliminary technical and economic assessments that inform capital requirements, operating costs, and expected returns. Including byproduct credits reflects Delta's thorough approach to assessing the full value of the Mt Ida deposit. The anticipated results offer investors a near-term catalyst to assess project advancement toward development.

Yinnetharra Project Reveals Significant Fluorite Mineralisation, Expanding Exploration Potential

Delta's Yinnetharra Lithium Project in Western Australia's Gascoyne region uncovered notable fluorite mineralisation during the June quarter exploration. Quartz fluorine vein assays returned exceptional calcium fluoride (CaF2) grades, including 86.09% in sample CAF0066, 85.89% in CAF0020, 75.61% in CAF0054, and 62.67% in CAF0015, indicating widespread high-grade fluorite presence.

Subsequent shallow drilling confirmed fluorite mineralisation at depth, with intercepts such as 8 metres grading 18% CaF2 from 15 metres depth in CGEX002 and 52 metres grading 2.28% CaF2 from surface in CGEX013. The Yinnetharra Project covers 2,324 square kilometres of wholly owned tenure, offering substantial exploration upside. The identification of lithium, fluorite, and other metals across this extensive area enhances the project's value potential.

Strategic Acquisition of Adjacent Tenements Boosts Yinnetharra Exploration Control

During the June quarter, Delta agreed to acquire tenements from Reach Resources Limited, including the Morrissey Hill project (Talisker and Fireball prospects) and Camel Hill project (Aberlour, Cirka, and Tomahawk prospects). The acquisition covers tenements M09/0101, E09/2375, E09/2388, E09/2354, and pending applications E09/2805 and E09/2807, terminating the prior farm-in and joint venture agreement and granting Delta full control over exploration and development in these areas.

The purchase consideration totals $400,000 cash plus $400,000 in DLI shares, priced at the 30-day volume weighted average price up to agreement execution. Transfer is subject to ministerial consent, with provisions ensuring tenement control for Delta if consent is delayed. These prospects remain prospective for lithium-caesium-tantalum (LCT) pegmatite mineralisation within favorable geology adjacent to Thirty-Three Suite granites. Historic and recent reconnaissance identified tantalum-bearing pegmatites, tungsten-greisen occurrences, and fluorite-vein systems, with ongoing multi-element soil surveys targeting various mineralisation styles.

Yinnetharra Malinda Project Advances Toward Mining Lease Application

The Malinda Project, part of Delta's Yinnetharra portfolio, is progressing with feasibility-level metallurgical and geotechnical studies completed on the M1 orebody. A mining lease application has been submitted, marking a significant development milestone. A March 2025 mineral resource estimate reported 21.9 million tonnes at 1% lithium oxide and 75 ppm tantalum oxide, plus 17.5 million tonnes grading 136 ppm tantalum oxide. Recent acquisitions expanded prospective stratigraphy to over 80 kilometres of the Leakes Springs metasediment package, suggesting strong potential for further resource growth.

Completing feasibility studies and submitting the mining lease application indicate Delta's advancement toward development readiness at Malinda. The extensive regional tenure offers compelling exploration upside, with numerous pegmatite systems and mineralised zones yet to be fully evaluated. This combination of near-term development planning and broad prospectivity supports a portfolio of resource growth and project advancement opportunities.

Robust Cash Position Enables Continued Exploration and Development

Delta Lithium held $49.6 million in cash as of 30 June 2026, providing strong financial capacity to support ongoing exploration, development, and scoping study efforts. This substantial cash reserve allows the company to fund near-term programs, advance the Mt Ida scoping study, and progress Yinnetharra development without immediate capital raising, preserving shareholder equity and minimizing dilution.

The cash position empowers Delta to accelerate exploration across its extensive land holdings, conduct high-quality metallurgical and geotechnical studies, and achieve key milestones such as Mt Ida scoping study results and potential mining lease approvals at Yinnetharra. The combination of financial strength and diversified project stages offers multiple avenues for value creation across lithium, fluorite, tantalum, rubidium, and other elements.

Multi-Commodity Strategy Enhances Revenue Diversification

Delta's exploration and development strategy extends beyond lithium, actively targeting rubidium, tantalum, fluorite, and other valuable elements identified within its projects. The presence of rubidium and tantalum at Mt Ida, fluorite at Yinnetharra, and tantalum-bearing pegmatites in the acquired Reach Resources tenements exemplifies a comprehensive multi-commodity approach. This aligns with industry trends recognizing pegmatite systems often contain multiple valuable commodities, with byproduct recovery boosting project economics.

Metallurgical testing confirming that Mt Ida mica concentrate can yield battery-grade lithium carbonate and rubidium carbonate at high recoveries validates the company's capacity to extract multiple products from a single ore stream. Ongoing engagement with potential customers for these byproducts indicates active market development, supporting commercial pathways. This diversified mineralisation approach reduces reliance on lithium market fluctuations and enhances potential project returns through multiple commodity streams.

Upcoming Catalysts and Investor Outlook

Delta Lithium has several near-term catalysts poised to drive investor interest and share price momentum. The foremost is the anticipated release of the Mt Ida scoping study results within the current calendar year, providing critical technical and economic data for a potential mining operation. This milestone will inform future investment and development decisions. Additionally, an updated mineral resource estimate incorporating recent high-grade drilling at Mt Ida will highlight exploration impact on resource size and confidence.

At Yinnetharra, completion of feasibility studies on the M1 orebody and progress toward mining lease approval represent key development steps. Ongoing multi-element soil surveys at the acquired Reach Resources prospects will support target generation for forthcoming drilling campaigns. Investors can monitor the acquisition completion and ministerial consent processes as indicators of consolidation progress. Managing Director commentary underscores active engagement with end-users for byproducts, signaling advancing commercial discussions alongside technical development.