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LINDIAN RESOURCES LTD . ASX ANNOUNCEMENT 29 JANUARY 2021 December 2020 Quarterly Activities Report QUARTERLY HIGHLIGHTS • • Lelouma and Woula acquisitions completed , and Lindian consolidates a strategic landholding in the premier bauxite jurisdiction of Africa . о Lindian has a combined , 1Bt of JORC 2012 resources ¹ from its three Guinea Projects . Low - capex , early production scenario exists , with Woula Project 45km to bauxite export terminal . Screening results at Gaoual Conglomerate Project transform the Project into a unique , ultra- high grade direct shipping ore ( DSO ) project . о Significant SiO2 reduction о Al2O3 Increase Infrastructure solution MOU executed with China Railway Seventh Group ( " CRSG " ) о The MOU has been executed to determine an infrastructure solution and to accelerate development of Lindian's projects . CRSG , through its affiliates and related entities and partners could facilitate in development financing and / or introducing offtake partners . Lindian Resources Limited ( ASX : LIN ) ( " Lindian " or " the Company " ) is pleased to report on its activities during the December 2020 quarter . COMPLETION OF LELOUMA AND WOULA PROJECT ACQUISITIONS During the quarter , the Company completed the Lelouma and Woula Project acquisitions . For both acquisitions , the conditions precedent included Lindian shareholder approval and Guinea Ministry of Mines and Geology approval . As a result of the acquisitions , Lindian has consolidated a strategic landholding in the premier bauxite jurisdiction of Africa . ○ ○ Lindian's Guinea bauxite projects have a combined 1Bt of JORC 2012 resources 95 % of African bauxite exports are from Guinea ³ 1 O Lindian's Woula Project is 45km - 60km from three ( 3 ) bauxite export terminals 1 Refer ASX releases dated 15 July 2020 ( Gaoual Project ) , 23 September ( Woula Project ) , and 6 October 2020 ( Lelouma Project ) for full details of Mineral Resources Estimates and 19 January 2021 for Gaoual screening test work results . The Company confirms that it is not aware of any new information or data that materially affects the information included in this document and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed . Level 24 108 St Georges Terrace Perth WA 6000 Australia ASX : LIN www.lindianresources.com.au Chairman Asimwe Kabunga Non Executive Directors Giacomo ( Jack ) Fazio Yves Occello Chief Operating Officer / CFO David Sumich T : +61 8 6557 8838 E : info@lindianresources.com.au Enquiries regarding this announcement can be directed to : Asimwe Kabunga LISTED ON X ASX