Birimian Limited announced that the Scoping Study for the Bougouni Lithium Project in southern Mali has confirmed the outstanding potential of the Project. As a result, the Board has approved the immediate commencement of the Project Pre-Feasibility Study. The Study evaluated the technical and potential economic viability of an open pit mine development at the Project's Goulamina deposit, where a maiden Mineral Resource of 15.5Mt at 1.48% Li2O has been defined. Various processing options were considered to optimise throughput capacity and recoveries, with consideration given to managing early stage potential cash flow and upfront capital costs. Mining and processing parameters were investigated at a USD 537 per ton selling price (6% Li2O concentrate). The current preferred option is to develop Goulamina as a 1 million tonnes per annum (Mtpa) high grade open pit mine to supply material to a conventional dense media separation (DMS) plant (Stage 1). Scope has been defined to transition the processing plant to treat medium-grained material by DMS and flotation in later years (Stage 2). Subject to further detailed studies, the Project could deliver average annual production of approximately 190,000 tons of 6% Li2O concentrate over 13 year Life of Mine (LOM). The LOM cash cost is estimated to be USD 326 per ton of concentrate. Capital costs (determined to a nominal accuracy of +/30%) for the processing plant and associated project infrastructure are estimated at USD 83.4 million, including a USD 10.9 million contingency. The start-up capital cost for Stage 1 has been estimated at USD 47.2 million. Stage 2 capital cost is USD 36.2 million, which could potentially be funded by Stage 1 cash flow.