Communicators

resource capital research (RCR) published the following REPORT ON LATIN RESOURCES

Investment Comment:

LRS has a large hardrock lithium landholding (over 200,000ha) in Argentina and has First Quantum as a JV partner at the Ilo Sur Copper Project in Southern Peru. Lithium concessions include historic spodumene production with potential for large scale, high grade discovery, and fast track production at a third party processing plant. Initial focus over the next 6-12 months is on drilling and resource definition in Catamarca and San Luis districts, high level scoping study, and spodumene circuit design. Lithium JV partner talks advancing.

Investment points:

-        Mineral exploration and development company focused on lithium and cobalt in Argentina, and copper in Peru.

-        Southern Peru copper belt is a major copper producing region. LRS has strategic exposure through a JV with First Quantum for Ilo Sur and a 43% stake in TSX.V:WMR for Ilo Este and Ilo Norte projects. Projects are proximal to power and key transport infrastructure - rail, road and port.

-        Ilo Sur Copper Project (100/49/20/0% LRS) – potential large porphyry copper target interpreted from geophysics. Global copper producer First Quantum Minerals JV partner. LRS free carried.

-        LRS holds over 200,000ha in Argentina prospective for hardrock lithium pegmatite. Drilling San Luis 2H18 (>10,000m, subject to drill permits); potential resource 1H19.

-        Geminis Lithum Mine (San Luis district, Argentina): historic high grade lithium (spodumene) production. Potential for fast track, small scale production from 2020.

-        Turnkey engineering company appointed to develop flowsheet for spodumene concentrate production at San Luis. Scoping study underway.

-        Guadalupito mineral sands project (100% LRS, Peru): World class resource 1.1bt @ 6.1% Heavy Mineral (HM); conceptual exploration target 4.5bt @ 6.1% HM. Very large and shallow deposits. Seeking partner.

-        Li demand growth fueled by Li-ion batteries: Base case growth forecasts from 2017 to 2026 of CAGR 26% to 864kt LCE driven by rapid EV uptake.

-        Share price catalysts include: Fast track exploration and development milestones for lithium projects in Argentina: potential granting of drill permits and drilling 2H18 (>10,000m); potential resource 2019; PFS 2019. Drilling Lomo Pelada and Ipiza I 2H18 (3,180m); securing a JV partner in Argentina,

Analyst: John Wilson - Resource Capital Research

Investment Comment: LRS is well positioned for ongoing market re-rating offering leverage to the high growth lithium market. It has built a strategic lithium portfolio in historic production districts of Argentina with large scale, high grade discovery and fast track development potential. With delays in exploration approvals attributing to its 60% pullback to $0.007/sh from the 12 month high

($0.017/sh), the path for approvals now seem clear and LRS is poised for a 10,000m drill program in San Luis, with potential for an initial resource 2019; and drilling in Catamarca 2H18 (3,000m). It also has exposure to the Ilo region, a global copper hotspot, through global major TSX:FM as a JV partner, and holding in TSX:WMR.

For further information please contact:

Chris Gale

Managing Director

Latin Resources Limited

+61 8 6117 4798

Brooke Picken

Pac Partners

Melbourne

+61 3 8633 9866

About Latin Resources

Latin Resources Limited is a mineral exploration company focused on creating shareholder wealth through the identification and definition of mineral resources in Latin America.  The Company has secured over 263,000 hectares of exploration concessions in the lithium pegmatite districts of Catamarca, San Luis and Salta Provinces, Argentina as well as 28,000 hectares prospective for Cobalt in La Rioja.

The company also has a portfolio of projects in Peru and is actively progressing its Iron Oxide-Copper-Gold and Copper Porphyry projects in the Ilo region with its joint venture partner First Quantum Minerals Ltd.

About RCR

Resource Capital Research provides equity research for junior and developing resource companies - typically those with a market value of less than $200m, though up to several billion dollars, with a focus on the gold, uranium, iron ore and rare/minor metals sectors. We provide company research reports for investors and companies. RCR also offers mining companies additional financial services.

info@latinresources.com.au

www.latinresources.com.au

West Leederville, Western Australia, 6007.