Admission and Director's dealing

8 February 2021

Bacanora Lithium plc

("Bacanora" or the "Company")

Admission and Director's dealing

Bacanora Lithium plc (AIM: BCN), a lithium development company, announces that, further to the announcement released by the Company on 3 February 2021, 106,995,885 New Ordinary Shares were admitted to trading on AIM today at 8 a.m.

As the Placing was oversubscribed, the participation of Eileen Carr, a director of the Company, in the fundraise was scaled back from 88,889 New Ordinary Shares to 80,000 New Ordinary Shares at the Placing Price. Following this transaction, Eileen Carr holds 80,000 ordinary shares in the Company, representing 0.02 per cent. of the Company's issued share capital as at the date of this announcement.

As at the date of this announcement, the Company has 330,811,568 ordinary shares of 10 pence each in issue. The Company does not hold any shares in treasury and all of the ordinary shares have equal voting rights.

The figure of 330,811,568 ordinary shares represents the total voting rights in the Company and may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Rules.

This Announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 ("MAR"). Upon the publication of this Announcement, this inside information is now considered to be in the public domain.

For further information please visit www.bacanoralithium.com or contact:

Notes to editors

Bacanora Lithium Plc is an AIM-listed (ticker 'BCN') lithium development company. The Company is focused on building, in collaboration with its major shareholder and offtake partner, Ganfeng Lithium (the world's largest lithium metals producer), a 35,000 tonne per annum open pit lithium carbonate operation at its flagship asset, the Sonora Lithium Project in Mexico. The Sonora Lithium Project has 8.8 million tonnes of lithium carbonate (Li2CO3) equivalent resources, with an approximate 250-year resource life, as detailed in its December 2017 Feasibility Study.

Sonora Lithium Ltd ("SLL") is the operational holding company for the Sonora Lithium Project and owns 100% of the La Ventana concession. The La Ventana concession accounts for 88% of the mined ore feed in the Sonora Feasibility Study which covers the initial 19 years of the project mine life. On completion of this option exercise, SLL will be owned 50% by Bacanora and 50% by Ganfeng Lithium Co., Ltd. SLL also owns 70% of the El Sauz and Fleur concessions. 

Bacanora also owns 44.3% of Zinnwald Lithium Plc (AIM: ZNWD), which in turn owns a 50% interest in the Zinnwald Lithium Project and the Falkenhain and Altenberg Licences in southern Saxony, Germany.