Jadar Expands Lithium Footprint in Pilbara Region

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ASX RELEASE: 10 November 2021

Jadar Expands its Lithium Footprint in the

Lithium Rich Pilbara Region

Highlights:

• Jadar enters into an agreement to acquire four exploration licences in the Pilbara Region prospective for Lithium
• Centred in the heart of the lithium rich Pilbara region within a 100km radius of three major lithium developments, the Wodgina Lithium Mine, the Pilgangoora Lithium Mine and the Marble Bar Lithium Project
• The tenements are strategically located within 100km of the Shaw River Project which Jadar is currently acquiring an 80% interest1
• Agreement is subject to a 30 day due diligence period to allow Jadar to conduct historic exploration review and conduct field reconnaissance work to evaluate the tenements

Jadar Resources Limited (ASX:JDR) ("Jadar", the "Company") is pleased to announce that it has entered into an agreement to acquire 100% of four exploration licenses in the East Pilbara region of Western Australia from private company Calatos Pty Ltd ("Calatos", "Vendor"). The acquisition strategically expands Jadar's portfolio of critical green metal assets to service the battery technology and high growth electronics sectors. Acquisition consideration totals the issuance of 8,500,000 Jadar shares.

The four tenements being acquired, E45/6088, E45/5717, E45/5821 and E45/5879 are located within 100km of the Shaw River Tin-Tantalum-Lithium Project on which Jadar is currently conducting due diligence to acquire an 80% interest1.

The East Pilbara region of Western Australia is renown as a world-class lithium province also with potential for associated tantalum and REE mineralisation. The region already hosts two of the largest hard rock lithium deposits in the world at Wodgina and Pilgangoora with several other resources defined by other companies.

Jadar will have 30 days to conduct due diligence on the group of four tenements during which time Jadar intends to conduct a historic data review on all previous exploration and conduct field reconnaissance work to evaluate the project's prospectivity.

E45/5821 is located to the north-east of the Wodgina greenstone belt, covering the Sisters Supersuite of the East Pilbara granite-greenstone terrane. In the tenement area, the Sisters Supersuite monzogranite is intruded by a number of north-south striking mafic dykes of the Black Range Dolerite. The tenement area has received minimal previous exploration with the only recorded work being stream sediment and reconnaissance rock chip sampling. Pegmatite was encountered in the southwest of the tenement, however no elevated lithium results were returned from the limited outcrop sampling. A number of pegmatite occurrences are located immediately north of the

1 ASX Announcement 16 Sep 2021 - Jadar Acquires Lithium, Tin & Tantalum Assets in East Pilbara

Jadar Resources Limited

311-313 Hay Street Subiaco, Western Australia 6008 T:[phone] F: [phone] www.jadar.com.au

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tenement, within the Sisters Supersuite monzogranite. Both anomalies are oriented NW-SE, tending into E45/5821.

E45/5879 covers basaltic volcanic, volcanoclastic and sedimentary rocks of the Fortescue Group. The tenement includes the historic Glen Herring gold and Sharks North copper-lead zinc mines. Sampling of conglomerate outcrop of 4 to 6 metres width during 1988 returned a maximum value of 11.2g/t Au over a zone 0.3m wide2. Costean sampling of the same unit 2500 metres to the east of the tenement returned values to 4.15g/t Au. Follow up RC drill testing failed to return any significant gold values. Only one portion of the three kilometre strike extent of the conglomerate unit within E45/5879 has been tested to date.

E45/5717 covers a structurally complex area comprising sediments, felsic volcanics, and mafic to ultramafic units of the Pilbara and De Grey Supergroups. The tenement hosts minor historic gold workings. The only previous work undertaken was regional-scale stream sediment sampling.

E45/6088 covers Numbana Monzogranite, a member of the Split Rock Supersuite that hosts a number of known Sn, Ta and Li occurrences including the Shaw River Project mineralisation and the Pippingarra Lithium Project. The Numbana Monzogranite has been mapped as a medium- to coarse-grained porphyritic monzogranite containing localised garnet-bearing pegmatite and granite dykes. To the south of E45/6088 the Numbana Monzogranite hosts historic tantalum mines including the Stein, Grayden, Northern Minerals 2 and Mt Francisco/Sherlock and Parker mines and the Turner River tin alluvial workings. There is no known previous exploration within E45/6088.

Figure 1 - East Pilbara Tenements Location

2 Roberts, V, 1988. Geological Assessment, Glen Herring Gold Prospect (EL45/637), Marble Bar WA.

Jadar Resources Limited

311-313 Hay Street Subiaco, Western Australia 6008 T:[phone] F: [phone] www.jadar.com.au

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Jadar Resources' Executive Director Adrian Paul commented:

"Jadar is on an aggressive acquisition pathway and seeking to build a world class portfolio of critical green metals which will assist in fueling the battery technology and electronics sectors. The team is busy exploring for new opportunities and doing the work required on the ground to ensure that each acquisition is continually adding value to the wider portfolio and the Company.

These new tenements are centered within one of the best locations globally for lithium with world class mines in close proximity as well as being nearby the Shaw River Project which we are currently acquiring."

Acquisition Terms

Jadar has entered into an agreement with private mining company Calatos Pty Ltd to acquire E45/6088, E45/5717, E45/5821 and E45/5879 for 8,500,000 Shares in Jadar Resources Limited on completion. Shares are to be issued under the Company's existing Listing Rule 7.1 placement capacity.

Completion is subject to:

• 30-daydue diligence period and Jadar being satisfied with the results of the due diligence;
• The parties obtaining all required regulatory and shareholder approvals (if required), including the requirements of the ASX Listing Rules and the applicable provisions of the Corporations Act; and
• The Parties having obtained all third-party consents necessary to give effect to the transfer of the exploration licence application on terms acceptable to Jadar (acting reasonably), including any consent of the Minister or delegate under the Mineral Titles Act.

ENDS

For further information, please contact:

Luke Martino	Adrian Paul
Non-Executive Chairman	Executive Director
Tel: [phone]	Tel: [phone]
E: [e-mail]	E: [e-mail]

This ASX announcement was authorised for release by the Board of Jadar Resources Limited.

Jadar Resources Limited

311-313 Hay Street Subiaco, Western Australia 6008 T:[phone] F: [phone] www.jadar.com.au

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Forward Looking Statement

Forward Looking Statements regarding Jadar´s plans with respect to its mineral properties and programs are forward-looking statements. There can be nо assurance that Jadar's plans for development of its mineral properties will proceed as currently expected. Therе can also be no assurance that Jadar will be able to confirm the presence of additional mineral resources, that any mineralisation will prove to be economic or that a mine will successfully be developed on any of Jadar's mineral properties. The performance of Jadar may be influenced by a number of factors which are outside the control of the Company and its Directors, staff, and contractors. These statements include, but are not limited to statements regarding future production, resources or reserves and exploration results. All of such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of the company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include, but are not limited to: (i) those relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations, (ii) risks relating to possible variations in reserves, grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined, (iii) the potential for delays in exploration or development activities or the completion of feasibility studies, (iv) risks related to commodity price and foreign exchange rate fluctuations, (v) risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals or in the completion of development or construction activities, and

1. other risks and uncertainties related to the company's prospects, properties and business strategy. Our audience is cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forward- looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.

Competent Person's Statement

The information in this announcement that relates to E45/6088, E45/5717, E45/5821 and E45/5879, is based on information compiled by Mr Erik Norum who is a Member of the Australian Institute of Geoscientists. Mr Norum is contracted to Jadar. Mr Norum has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Norum consents to the inclusion in this announcement of the matters based on information in the form and context in which it appears.

Jadar Resources Limited

311-313 Hay Street Subiaco, Western Australia 6008 T:[phone] F: [phone] www.jadar.com.au

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JORC TABLE 1

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria	Explanation	Commentary
Sampling techniques	• Nature and quality of sampling (e.g. cut channels, random chips, or	Rock chip sampling of selected zones of outcrop were
	specific specialised industry standard measurement tools appropriate to	undertaken. Samples were of an outcropping
	the minerals under investigation, such as down hole gamma sondes, or	conglomerate unit. No further information regarding
	handheld XRF instruments, etc). These examples should not be taken as	sample size or geology are provided.
	limiting the broad meaning of sampling.	Location of samples is shown in the Figure 2 below.
	• Include reference to measures taken to ensure sample representivity
	and the appropriate calibration of any measurement tools or systems
	used.
	• Aspects of the determination of mineralisation that are Material to the
	Public Report. In cases where 'industry standard' work has been done
	this would be relatively simple (e.g. 'reverse circulation drilling was used
	to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g
	charge for fire assay'). In other cases more explanation may be required,
	such as where there is coarse gold that has inherent sampling problems.
	Unusual commodities or mineralisation types (e.g. submarine nodules)
	may warrant disclosure of detailed information.
Drilling techniques	• Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air	No drill results reported, so not applicable
	blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or
	standard tube, depth of diamond tails, face-sampling bit or other type,
	whether core is oriented and if so, by what method, etc).