GT1: Quarterly Activities Report – March 2022

ASX RELEASE

29 April 2022

ASX | GT1

QUARTERLY ACTIVITIES REPORT

FOR THE QUARTER ENDED 31 MARCH 2022

HIGHLIGHTS

• • North Aubry lithium deposit at Seymour returned thick, maiden GT1 intercept of 40m @ 1.54% Li2O.

• • North Aubry lithium deposit extended down dip and along strike with further thick, high-grade intercepts.

• • Strategic lithium footprint in Ontario expanded from 9,467 Ha to approx. 40,000 Ha.

• • Central Aubry and Pye drilling at Seymour commenced with second diamond rig.

• • GT1 increases ownership to 80% of the Ontario Lithium Projects.

• • Cash balance of A$16.1M at quarter end; A$55M equity raising completed in late April.

Green Technology Metals Limited (ASX: GT1) (Green Technology, GT1 or the Company) is pleased to present its Quarterly Activities Report for the period ending 31 March 2022.

"GT1 is rapidly advancing along the pathway toward our strategic goal of becoming the pre-eminent vertically integrated lithium company in Ontario. Our operations team has done an outstanding job drilling through the winter and is excited about further ramping up exploration activities during the summer season across our almost 40,000 Ha of prime lithium ground.

"Current drilling activity continues to progress strongly at the Central Aubry zone and Pye prospect, and we look forward to completing the first scheduled update to the flagship Seymour Mineral Resource estimate during the current quarter."

Chief Executive Officer, Luke Cox
Green Technology Metals	www.greentm.com.au
94 Rokeby Road, Subiaco, Western Australia 6008	[e-mail]
[phone]	ABN 99 648 657 649

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Figure 1: CYR Diamond Drilling Rig, drilling down dip of North Aubry deposit, Seymour.

ONTARIO LITHIUM PROJECTS: EXPLORATION AND DEVELOPMENT

Strategic lithium footprint substantially expanded

During the quarter, GT1 significantly increased its landholding in Ontario, Canada. The Company increased its claim base from 9,467 hectares to 39,982 hectares through execution of four option agreements and claim pegging activities. The new landholdings surround GT1's existing projects, Seymour and Root, as well as being in a new project area named "Allison" and select other project areas (Pennock Lake, Root Bay, Superb Lake and Gathering Lake).

For full details of three of the newly acquired claims refer to GT1 ASX release dated 24 January 2022, Strategic Lithium Footprint Substantially Expanded. Details of the terms of the Option Agreements are in Appendix C.

Subsequent to the announcement dated 24 January 2022, the Company executed a further Option Agreement for claims in proximity to Root Bay. For further details, please see the Corporate section of this announcement and Appendix C.

Figure 2: Expanded GT1 lithium project footprint in north-west Ontario

Phase 1 diamond drilling program, North Aubry, Seymour.

The Phase 1 drilling program at North Aubry (Seymour Project) was designed to evaluate potential along-strike and down-dip extensions of the North Aubry deposit that were open and untested. This maiden program is complete with 16 holes having been drilled for a total of 5,826 metres.

Figure 3: Location map of northern area of the Seymour Project showing North and South Aubry deposits, Central Aubry zone and Pye prospect

All holes in the Phase 1 program intersected pegmatite along strike and down dip (refer GT1 ASX releases dated 8 March 2022 and 17 March 2022). The intercepts returned from solely the upper pegmatite at North Aubry range in thickness up to 42.7m, with the widest intervals located in the northern extensions of the deposit.

Assays have now been returned for 9 of the 16 holes from the Phase 1 program. Results from the first three holes in the program returned key mineralised intervals of 42.7m at 1.54% Li2O (GTDD-21-0004), 8.9m at 1.46% Li2O (GTDD-22-0005) and 1.58m at 1.11% Li2O (GTDD-22-0006) (refer GT1 ASX releases dated 17 January 2022 and 8 March 2022 for full details).

Assay results from the six further holes that were more recently released (refer GT1 ASX release dated 12 April 2022 for full details) are outlined in Table 1 (along with details of the previously released intercepts also). The key intercept from each of these six holes was:

• • GTDD-22-0016 for 34.3m @ 1.32% Li2O from 244.0m

• • GTDD-22-0003 for 19.2m @ 2.20% Li2O from 231.8m (including 9.7m @ 2.95% Li2O; see Figure 4 for core photo)

• • GTDD-22-0010 for 10.0m @ 1.89% Li2O from 313.0m (including 5.3m @ 2.85% Li2O)

• • GTDD-22-0015 for 9.0m @ 1.34% Li2O from 238.0m

• • GTDD-22-0012 for 2.3m @ 1.21% Li2O from 238.0m

• • GTDD-22-0009 for 2.0m @ 0.50% Li2O from 291.0m

Table 1: Assay results returned from Phase 1 drilling at North Aubry

Hole	Easting	Northing	Dip	Azi	From (m)	To (m)	Interval (m)	Li2O%
GTDD-21-0004	397,233	5,585,466	-76	210	243.5	286.2	42.7	1.54
(Including)	245.0	250.0	5.0	2.75
GTDD-21-0005	397,280	5,585,396	-80	221	242.9	251.7	8.9	1.46
(including)	245.0	251.0	6.0	2.06
GTDD-21-0005	397,280	5,585,396	-80	221	265.0	266.0	1.0	0.88
GTDD-21-0005	397,280	5,585,396	-80	221	341.0	342.0	1.0	1.48
GTDD-22-0006	397,313	5,585,361	-69	214	310.0	313.1	3.1	0.79
(including)	310.0	311.5	1.58	1.11
GTDD-22-0003	397,130	5,585,453	-77	194	231.8	251.0	19.2	2.20
(including)	235.3	245	9.7	2.95
GTDD-22-0003	397,130	5,585,453	-77	194	304.9	312.0	7.1	1.04
GTDD-22-0003	397,130	5,585,453	-77	194	332.7	335.6	2.9	1.48
GTDD-22-0009	397,360	5,585,423	-81	219	285.0	287.0	2.0	0.43
GTDD-22-0009	397,360	5,585,423	-81	219	291.0	293.0	2.0	0.50
GTDD-22-0010	397,400	5,585,372	-69	219	313.0	323.0	10.0	1.89
(including)	316.6	321.9	5.3	2.85
GTDD-22-0012	397,203	5,585,475	-81	212	238.0	240.3	2.3	1.21
GTDD-22-0012	397,203	5,585,475	-81	212	275.5	278.0	2.5	0.59
GTDD-22-0012	397,203	5,585,475	-81	212	351.3	354.0	2.7	0.76
GTDD-22-0012	397,203	5,585,475	-81	212	366.5	368.0	2.0	0.64
GTDD-22-0015	397,203	5,585,475	-75	212	238.0	247.0	9.0	1.34
(including)	238.0	241.2	3.2	2.05
GTDD-22-0015	397,203	5,585,475	-75	212	260.6	263.8	3.2	1.35
GTDD-22-0015	397,203	5,585,475	-75	212	277.9	278.6	0.7	2.00
GTDD-22-0015	397,203	5,585,475	-75	212	347.3	348.0	0.7	1.47
GTDD-22-0015	397,203	5,585,475	-75	212	377.4	378.7	1.2	1.03
GTDD-22-0016	397,256	5,585,422	-77	219	244.0	278.3	34.3	1.32
(Including)	250.2	253.7	3.6	1.96
256.0	259.4	3.4	1.72
264.0	267.7	3.7	1.48
270.9	275.4	4.6	2.10