Mr. Trevor Walker reports

FRONTIER ADVANCES LITHIUM CONVERSION FACILITY WITH DEFINITIVE FEASIBILITY STUDY AWARD

Frontier Lithium Inc. has commenced the definitive feasibility study (DFS) for the lithium conversion facility in Thunder Bay, Ont. As a second definitive feasibility study, this work builds on the positive outcomes of the recently completed mine and mill DFS, with a dedicated focus on evaluating a refinery supplied by Frontier Lithium's own production and potential third party feedstock. The company has awarded the feasibility scope for the project to Fluor Canada Ltd., a leading engineering and construction company that provides engineering, procurement, construction, maintenance and project management services across various industries.

Fluor will work with Frontier to deliver the comprehensive DFS, covering various work packages such as infrastructure, process and design, cost estimation, economic valuation, procurement, and a technical report for Frontier. Fluor will also advance execution planning and co-ordination with specialized consultants supporting technical studies, reporting and environmental assessments.

"After a thorough evaluation process, we have selected Fluor based on their global and North American expertise in critical minerals development and their proven track record delivering large-scale lithium processing and refinery projects," said Trevor Walker, president and chief executive officer of Frontier. "Advancing this phase of the project is critical not only for Frontier, but for ensuring that we continue to build a successful made-in-Canada EV battery supply chain. We're confident in the lithium refining experience of our project team and excited to move forward into this next phase."

The DFS will initially deliver a preliminary capital cost estimate laying the foundation for Frontier's first commercial refining facility and long-term production strategy. These outcomes will also support the goal of finalizing the contribution agreement's with both federal and provincial governments as previously announced in the company's press release on March 4, 2025, and highlighted in the province of Ontario budget on May 15, 2025. Frontier expects to complete the federal and provincial government agreements in 2025/2026 and deliver the feasibility study within the next 18 months. Frontier may consider future updates to reflect integrated economics of the mine and mill and refinery projects, subject to funding progress.

The proposed project, which is planned for the recently acquired Mission Island site in Thunder Bay, Ont., will be designed to produce approximately 20,000 tonnes of lithium carbonate equivalent (LCE) lithium hydroxide salts annually, once in production. This output could support battery production for up to 500,000 electric vehicles per year. The project will also be designed to accommodate supply from other lithium deposits both in Canada and internationally, strengthening Canada's role in the global battery supply chain.

Frontier remains committed to sustainable resource development and to working collaboratively with Indigenous community partners, stakeholders and government agencies to ensure the successful execution of this nationally significant critical minerals project in Thunder Bay, Ont.

About Frontier Lithium Inc.

Frontier Lithium is a preproduction mining company with an objective to become a strategic and integrated supplier of premium spodumene concentrates as well as battery-grade lithium salts to the growing electric vehicle, and energy storage markets in North America. The company's PAK lithium project maintains the largest land position and resource in a premium lithium mineral district located in Ontario's Great Lakes region.

About the PAK lithium project

The PAK lithium project is a fully integrated critical minerals initiative in Ontario, developing North America's highest-grade known lithium resource. Operated as a joint venture between Frontier (92.5 per cent) and Mitsubishi Corp. (7.5 per cent), the project is advancing in parallel with a mine and mill and a downstream conversion facility in Thunder Bay, Ont., both key to supporting a secure domestic lithium supply for the clean energy transition. A 2025 mine and mill feasibility study (FS), prepared by DRA and entitled National Instrument 43-101 technical report FS PAK lithium project, mine and mill, outlines a 31-year project life with an after-tax net present value of $932-million at an 8-per-cent discount rate and an after-tax internal rate of return of 17.9 per cent. These results were disclosed in a press release dated May 28, 2025, and the accompanying technical report was filed on July 9, 2025, on SEDAR+.

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