Arizona Lithium Limited - LITHIUM DISCOVERY AT PRAIRIE

Arizona Lithium Limited (ASX: AZL, AZLO, AZLOA, OTC: AZLAF) ('Arizona Lithium', 'AZL' or 'the Company'), a company focused on the sustainable development of two large lithium development projects in North America, the Big Sandy Lithium Project ('Big Sandy') and the Prairie Lithium Project ('Prairie'), is pleased to announce it discovered a new lithium enriched formation at its Prairie project.

Well 1 was drilled into the Souris River Formation at Pad 1 before being converted into a Duperow Formation production well. The Souris River Formation directly underlies the Duperow Formation across the entire 391,000 acres of the project area. Samples of brine from the Souris River indicate a lithium concentration of 86 mg/L Li. Additional wells will be drilled into the Souris River and Dawson Bay at Pad 2 and Pad 3 as part of the company's drilling campaign.

After exploration into the Souris River was complete, AZL converted the well into a Duperow production well and completed a pump test. The well pumped at a stable rate of 500m3 per day (350 litres per minute) and produced approximately 2,400 m3 of brine before being shut in for the build-up test to monitor reservoir pressure response. Reservoir performance exceeded expectations and the data will be used to calibrate the Company's well field model and future Duperow well design

Arizona Lithium Managing Director, Paul Lloyd, commented: 'The exploration results from our first well are fantastic. The discovery of the Souris River lithium in Saskatchewan highlights the exploration upside that exists across the project. While the team is focused on putting the Duperow into production, understanding where future resources can be accessed on our current land is critical to the long-term security of lithium resources in North America. Credit must go to the competent and hard working AZL sub surface exploration team. This discovery will result in future wells by AZL and other lithium companies in the Province, targeting this deeper formation and providing information to increase our large resource. The team will continue to drill additional exploration wells with the goal of putting together a resource assessment for the Souris River to complement the already world class Duperow resource at the Prairie Lithium Project.'

About the Prairie Lithium Project

AZL's Prairie Lithium Project is located in the Williston Basin of Saskatchewan, Canada, and holds a resource of 6.3 MT of LCE, comprised of 4.5 MT LCE Indicated and 1.8 MT LCE Inferred1. Located in one of the world's top mining friendly jurisdictions, the projects have easy access to key infrastructure including electricity, natural gas, fresh water, paved highways and railroads. The projects also aim to have strong environmental credentials, with Arizona Lithium targeting to use less use freshwater, land and waste, aligning with the Company's sustainable approach to lithium development

Contact:

Mr. Paul Lloyd

Managing Director

Tel: [phone]

Email: [e-mail]

Gordon MacMillan P.Geo., Principal Hydrogeologist of Fluid Domains, is an independent consulting geologist of a number of brine mineral exploration companies and oil and gas development companies, reviewed and approves the technical information pertaining to the resource provided in the release. Mr. MacMillan is a member of the Association of Professional Engineers and Geoscientists of Alberta (APEGA), which is ROPO accepted for the purpose of reporting in accordance with the ASX listing rules. Mr. MacMillan has been practising as a professional in hydrogeology since 2000 and has 24 years of experience in mining, water supply, water injection, and the construction and calibration of numerical models of subsurface flow and solute migration. Mr. MacMillan is also a Qualified Person as defined by NI 43-101 rules for mineral deposit disclosure.

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