Quarterly Activities Report - March 2026

Jindalee Lithium Limited (ASX: JLL, OTCQX: JNDAF) released their Quarterly Activities Report for March 2026. The report highlights significant progress on their McDermitt Lithium Project in the US, including a Pre-Feasibility Study confirming a 63-year life with production of 1.8Mt Lithium Carbonate. The Company is also exploring the potential to recover and monetize magnesium streams as a strategic value creation opportunity given the high demand for magnesium.

Key milestones achieved include major permitting approvals at McDermitt, with US federal approval supporting expanded drilling and feasibility study activities, and initial magnesium testwork confirming by-product potential. The Company is strengthening its US execution capabilities and workforce ahead of increased on-site activities planned for the second half of 2026.

Additionally, Jindalee signed a Business Combination Agreement with Constellation Acquisition Corp to establish US Elemental Inc., a NASDAQ-listed company holding Jindalee's US assets, which implies a pro forma enterprise value of US$571 million. The Board believes this strategic move aligns with the US government's focus on securing critical minerals and will enhance project funding and development.

Investors are encouraged to engage with the announcement and inquire about the Company's ongoing activities and future prospects.