Lithium Africa Receives Section 11 Consent for Majority Ownership of the Springbok Project and Files NI 43-101 Technical Report
Rhea-AI Summary
Lithium Africa (OTCQB: LTAFF) received Section 11 consent from South Africa’s Department of Mineral and Petroleum Resources on July 27, 2026, allowing it to formally complete the acquisition of a 70% majority shareholding in Namli Exploration and Mining, holder of the Springbok Project mineral rights in the Northern Cape.
The company also filed a new NI 43-101 Technical Report on SEDAR+ on July 29, 2026, consolidating historical and company exploration data to support its ongoing 3,500 m drill program at Springbok. Lithium Africa further disclosed and corrected an error in its previously filed Management Information Circular regarding a director’s securityholding, with details provided in a Notice of Correction on its website and SEDAR+.
Positive
- Section 11 consent enables 70% Springbok ownership, clearing final regulatory hurdle for majority shareholding in Namli
- NI 43-101 Technical Report filed July 29, 2026, consolidating historical and company exploration data
- 3,500 m drill program at Springbok underway, supported by the new technical report
Negative
- Error in Management Information Circular regarding a director’s securityholding, requiring a formal Notice of Correction
News Explained
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Cape Town, South Africa--(Newsfile Corp. - July 30, 2026) - Lithium Africa Corp. (TSXV: LAF) (FSE: 6MQ) (OTCQB: LTAFF) ("Lithium Africa" or the "Company") is pleased to announce that it has received Section 11 consent from the South African Department of Mineral and Petroleum Resources in respect of the Springbok Project ("Springbok" or the "Project") in the Northern Cape, South Africa, and has filed a new technical report prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") (the "Technical Report").
Highlights
Section 11 consent received on July 27, 2026, enabling the Company to formally complete its acquisition of a
70% majority shareholding in Namli Exploration and Mining Proprietary Limited ("Namli"), the holder of the Springbok mineral rights. Legal formalities for completion of the share transfer are underway.Technical Report filed on SEDAR+ on July 29, 2026, consolidating historical and Company exploration programs into a single current NI 43-101 disclosure document in support of the Company's ongoing 3,500 m drill program.
"Obtaining section 11 consent removes the last regulatory hurdle standing between us, the majority ownership of Springbok," said Thomas R. Benson, Ph.D., CEO and Director of Lithium Africa. "With the consent in hand and drilling underway, our focus now moves entirely to building the geological understanding that supports an initial mineral resource estimate at Norrabees and the formation of an advancement strategy for the entire Springbok project."
The Technical Report was prepared by George van der Walt, Pr.Sci.Nat., FGSSA of The MSA Group (Pty) Ltd, a Qualified Person as defined under NI 43-101 who is an independent consultant of the Company. It is available on SEDAR+ (www.sedarplus.ca) under Lithium Africa's issuer profile and on the Company's website at www.li-africa.com.
The Company wishes to advise its shareholders that there was an error in its Management Information Circular ("Circular"), relating to the Annual General Meeting of shareholders of the Company being held August 21, 2026, which was filed on SEDAR+ on July 21, 2026 and mailed to the shareholders. The Circular incorrectly stated Mr. Blake Hylands' securityholding. Mr. Hylands' securityholding is set out in the Notice of Correction accessible on the Company's website at www.li-africa.com and under the Company's profile on SEDAR+ at www.sedarplus.ca. No other changes have been made to the Circular.
About Lithium Africa Corp.
Lithium Africa Corp. is a capital-efficient lithium exploration and consolidation company assembling a portfolio of hard-rock lithium assets across Africa. Through its 50/50 joint venture with GFL International Co., Ltd., a subsidiary of Ganfeng Lithium Group Co., Ltd., the Company holds an indirect
ON BEHALF OF THE BOARD OF DIRECTORS OF LITHIUM AFRICA CORP.
Thomas R. Benson, Ph.D., Chief Executive Officer & Director
For further information regarding the Company, contact:
Jeanne Liu, Corporate Communications at investors@li-africa.com, 1.604.771.7125
Cautionary Note Regarding Forward-Looking Statements
Statements contained in this news release that are not historical facts may be forward-looking statements within the meaning of applicable securities legislation, including statements in respect of the Company's planned 3,500-meter drill program at Norrabees, the scope, timing and objectives thereof; the potential for a new mineral resource at Norrabees and the assumptions underlying that potential; the Company's interpretation of the structural orientation of the Norrabees pegmatite system and the implications thereof for target generation, drill planning and resource definition; the selection of and contracting with the Company's drilling contractor; the timing and scope of camp upgrades and team mobilization at site; the proposed sale of the existing spodumene stockpile at the Springbok mine site, the level, nature and outcome of counterparty engagement and the competitive sale process, and the timing and results of the stockpile resampling program and related assays; the Company's expectations regarding news flow, drill results and stockpile economics over the coming months; the structural, drone, remote sensing, pegmatite fractionation and regional mapping programs being undertaken across the Mining Right and Prospecting Right and their potential to generate further drill targets; the expected receipt and timing of the Section 11 consent and other regulatory approvals; the role and benefits of Springbok Lithium Pty Ltd as the Company's wholly-owned South African subsidiary; and the Company's plans and programs for its exploration portfolio in Africa. These forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In addition, the forward-looking statements require management to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that the forward-looking statements will not prove to be accurate, that the management's assumptions may not be correct and that actual results may differ materially from such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements. Generally forward-looking statements can be identified by the use of terminology such as "anticipate", "will", "expect", "may", "continue", "could", "estimate", "forecast", "plan", "potential" and similar expressions. These forward-looking statements are based on a number of assumptions which may prove to be incorrect which, without limiting the generality of the following, include: the ability to raise funds through private or public equity financings; general business, economic, competitive, political and social uncertainties; delay or failure to receive regulatory approvals; risks inherent in exploration activities; the impact of exploration competition; unexpected geological conditions; changes in government regulations and policies, including trade laws and policies; failure to obtain necessary permits and approvals from government authorities; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; environmental and safety risks including increased regulatory burdens; weather and other natural phenomena; and other exploration, development, operating, financial market and regulatory risks. The forward-looking statements contained in this press release are made as of the date hereof or the dates specifically referenced in this press release, where applicable. Except as required by applicable securities laws and regulation, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/307262