November 4th, 2024

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Key Transaction Highlights:

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• Strategic Acquisition: Austroid Corporation ("Austroid"),a prominent USA based global clean energy company, has entered into a binding agreement with Future Battery Minerals Ltd (ASX: FBM) to acquire an 80% ownership interest in the Nevada Lithium Project (NLP) for a total cash consideration of A$4 million, payable upon completion.

• Strengthened Position in Lithium Sector: This acquisition advances Austroid's strategic positioning within the critical minerals sector, particularly in the United States, where lithium resources are pivotal for the nation’s energy transition goals.

• Focus on Sustainable Energy Solutions: Austroid’s acquisition aligns with its commitment to sustainable resource development and underscores its role in supporting energy security and resilience through enhanced access to high-potential lithium assets in Nevada.

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Austroid Corporation is pleased to announce the acquisition of an 80% interest in the Nevada Lithium Project from Future Battery Minerals Ltd (FBM). This strategic transaction, valued at A$4 million, represents a significant expansion of Austroid’s asset base and reinforces its commitment to developing clean energy resources. The Nevada Lithium Project adds a high-potential U.S.-based lithium asset to Austroid’s portfolio, strengthening its capacity to meet future demands for lithium critical to clean energy technologies.

Mike Que, Chairman of Austroid Corporation, commented:

“The acquisition of the Nevada Lithium Project reflects Austroid’s commitment to establishing itself as a leading figure in clean energy development. This project enables us to secure a crucial lithium supply source, directly supporting our goals to contribute meaningfully to sustainable energy transition initiatives. By advancing lithium resources in Nevada, Austroid aims to enhance both regional and national energy resilience and sustainability.”

Transaction Details:        

The transaction entails a total cash payment of A$4 million, including an initial non-refundable deposit of A$50,000, with the remaining A$3,950,000 payable upon transaction completion. Completion of the acquisition is anticipated within Q4 2024, pending customary conditions, including the waiver of pre-emptive rights by minority shareholders.

About Austroid Corporation

Austroid Corporation, headquartered in Dallas, Texas, is an emerging leader in the clean energy sector, focused on driving the future of energy through sustainable resource innovation. This acquisition aligns with Austroid’s strategy of securing critical mineral assets and furthering its commitment to environmental stewardship, supporting a resilient energy infrastructure and sustainable economic growth.

This announcement has been authorized for release by the Board of Directors of Austroid Corporation.

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For further information visit www.austroidcorp.com or contact:

Michael Weir

Sodali &Co

+61 402347 032

Michael.weir@sodali.com