Update on Mali Lithium Assets

Two Shields Investments Plc / EPIC: TSI / Market: AIM

18 December 2018

Two Shields Investments Plc ("Two Shields" or the "Company")

Update on Mali Lithium Assets

Two Shields Investments Plc, the AIM-quoted investing company, is pleased to announce an update on its lithium interests in South-Western Mali, through its 40% shareholding in Xantus Inc ("Xantus") and its 30% shareholding in Nashwan Holdings Ltd ("Nashwan"). This includes assay results from the recent Auger Geochemical Drill programme undertaken by Sahara Natural Resources ("Sahara"), an independent mining consultancy, which confirmed the licences in Mali held by Xantus and Nashwan (the "Project Area") are prospective for lithium mineralisation and warrant additional exploration.

Overview:

· 5,000m auger geochemical drilling campaign across four permits testing for greater concentrations of Lithium Oxide ('Li2O') below the extensively weathered surface

· Sahara's interpretation of the results of the drilling programme, which was carried out on a wide first pass 400m x 400m sampling grid spacing with holes completed to an average depth of 9.6m, include:

o Confirmation of Project Area as prospective for defining lithium-bearing pegmatites and warrants additional staged exploration

o Geology similar to Birimian Limited and Kodal Minerals' significant lithium discoveries - previous results from both sites, which are located close to the Project Area, have been indicative of a similar potential for high grade Li2O mineralisation

o Clear identification of anomalous lithium targets on all four permits of the Project Area, prospective for follow up auger infill drilling

o Geology suggests that low cost auger soil geochemistry can be used as an effective exploration tool to determine follow up RC drilling targets

· Li2O values returned ranged between 2.15ppm and a maximum value of 293ppm

· Follow-up work programme being determined - potentially include drilling to further delineate the anomalous lithium signatures

Chairman of Two Shields Investments, Charlie Wood, said, "The Board is encouraged by these results from the Auger Geochemical Drill programme completed by Sahara in Mali on behalf of Xantus and Nashwan. The prospectivity of the Project Area for lithium bearing pegmatites has been confirmed and the results from this recent programme will inform the next stage of development. We will await notification of Xantus' and Nashwan's development plan, regarding both the Mali and Niger lithium portfolios and will then update our shareholders accordingly.

"Our lithium interests are just one of a number of investments within our portfolio. This includes a stake in the leading innovative, digital social e-commerce platform, WeShop; an 8.95% interest in BrandShield, a leading cyber security company; and an 11.26% interest in AIM traded African Battery Metals plc which provides us with exposure to other key technology metals, such as cobalt. The common theme that links all the above is a notable focus on disruptive and fast-growing markets. With this in mind, I look forward to continuing to update shareholders as the portfolio continues to advance in the upcoming months."

Further information

The Project Area is located in the Sikasso Region of the Republic of Mali. Exploration work for lithium on the Project Area commenced in late 2016 with an initial site visit. This was closely followed by a remote sensing and GIS data interpretation and targeting exercise over the Project Area that identified some targets for follow-up work. A ground truthing and a limited pegmatite mapping and sampling campaign ensued, identifying outcropping pegmatites on 3 of the 4 permits within the Project Area. A total of 53 pegmatite samples were collected over the Project Area.

Previous Grab sample results were low tenor which is often a result of leached surficial pegmatites, but the presence of pegmatite showed the region to be prospective for lithium mineralisation.

Auger Geochemical Drilling

A total of ~5,000ms of auger geochemical drilling was completed. The drilling was completed on a wide first pass 400m x 400m sampling grid spacing and holes were completed to an average depth of 9.6m.

Prospective geochemical anomalies were returned over all 4 permits within the Project Area. The wide first pass 400m x 400m grid over these permits need to be infilled to 200m x 100m and selectively to a further 100m x 50m sample spacing to achieve cohesive geochemical anomalies that can be drill-tested by Reverse Circulation Drilling (RC drilling).

Conclusion

The Project Area is located within 2O and the Kodal Minerals' Lithium project (Kolassokoro and Madina concessions are contiguous to Djidje and Nimisilla concessions) which has an updated mineral resource of 17.3 Mt at 1.2% Li2O . The Project Area is also located within the same geological province as the advanced lithium projects listed above.

The auger geochemical drilling, though limited in size and over a wide sample spacing (a 400m x 400m sampling grid), has clearly identified anomalous lithium targets on all 4 permits that are prospective for follow-up Auger infill.

Considering the deep weathering profile encountered, (surface lateritic profile > 9m on average) and the general scarcity of outcrops within the Project Area, it supports the likelihood that potential high concentrations of Li2O in surface pegmatites within the permits have been leached out at surface. Auger soil geochemistry in this circumstance, will serve as an effective exploration tool, as it is able to detect and map out minimal signals or signatures from subsurface mineralisation and help determine cohesive follow up Reverse Circulation drilling targets.

Sahara considers the Project Area as prospective for defining lithium-bearing pegmatites and warrants additional staged exploration.

Competent Persons Statement

The exploration results and activity reported in this announcement are based on information compiled by Mr Michael Cantey (BSc Geology, Member of the Australasian Institute of Geoscientists). Mr Cantey is a full-time employee of Sahara Natural Resources and has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activities undertaken to qualify as a Competent Person under AIM Guidance for Mining and Oil & Gas Companies and as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Cantey consents to the inclusion in the release of the statements based on his information in the form and context in which they appear.

This announcement contains inside information for the purposes of article 7 of the market abuse regulation (EU) 596/2014.

**Ends**

For further information please visit https://twoshields.co.uk/ or contact:

Notes to Editors:

Two Shields Investments Plc is an investing company, quoted on the AIM market of the London Stock Exchange, with a strategy focused on identifying and investing in opportunities in mineral exploration and mining and Digital Assets, financial technologies and other technologies applicable to, or involved in, the blockchain space. The Company has an experienced Board of Directors with a proven pedigree in the acquisition, development & sale of projects and creating value for shareholders. The investment mandate covers unquoted and quoted businesses, as well as direct project investment.

The Company currently has investments in a number of companies which provide exposure to commodities which are relevant to the rapidly growing technology metal sector, including lithium, cobalt and nickel, as well as strategic positions in a geoscience consultancy and a leading international company in the online brand protection, anti-counterfeiting and anti-fraud sector which has developed the one of the most comprehensive systems using AI powered cyber intelligence systems and is developing its proprietary blockchain-based platform for anti-fraud purposes.