Liontown Resources Limited announced that it has moved to the next key pre-development stage at its 100%-owned Kathleen Valley Lithium-Tantalum Project in Western Australia with work now well underway on a Definitive Feasibility Study (DFS). The DFS, which is scheduled for completion in fourth quarter 2021, follows on from the highly encouraging studies completed in fourth quarter 2020 that included: A Pre-Feasibility Study (PFS) into establishing a 2Mtpa mining operation to produce an average 350,000tpa of spodumene concentrate (SC6) for 40 years; and A subsequent Scoping Study into the potential to undertake downstream processing on-site to produce Lithium Hydroxide or Lithium Sulphate. Liontown has appointed several highly credentialled consulting groups to assist with the DFS including Lycopodium Minerals Pty Ltd. (Process Engineering), Snowden Mining Industry Consultants Pty Ltd. (Mine Engineering), Knight Piésold Pty Ltd. (Tailings and Hydrogeological Engineering), MBS Environmental (Environmental and Permitting) and ALS Metallurgy Pty Ltd. (Metallurgical Test Work). The Company has also undertaken additional geotechnical and water exploration drilling to acquire data identified by the 2020 PFS which is required to complete the DFS. The geotechnical drilling comprised six diamond core holes totalling 1,312m and was designed to provide rock quality data for the proposed underground portals and the north-western part of the deposit. Data from the holes indicate good ground conditions suitable for underground mining and are consistent with previous drilling. Two of the geotechnical holes, KVDD0076 and KVDD0077, drilled into an Inferred part of the Mineral Resource, intersected significant widths of high-grade lithium mineralisation, confirming the continuity of the system. The assay data from KVDD0076 and KVDD0077 will be used to upgrade parts of the Mineral Resource Estimate to the Indicated category, which will subsequently be available for conversion to Ore Reserves as part of the DFS. The water drilling comprised 10 Reverse Circulation (RC) holes totalling 1,018m with the holes targeting structures defined by aeromagnetic and ground EM data. A number of holes intersected water and further drilling to fully develop 2-3 bores and measure flow rates and draw-down is scheduled for late first quarter 2021. Further metallurgical test work on approximately 3 tonnes of material will also commence during the current Quarter to provide DFS-level data for recovery, variability, grind size optimisation and comminution. A Process Comminution Study has also been completed which has confirmed the viability of further process optimisation leading to possible capital savings and improved operability through the removal of one stage of crushing and increased grinding mill size. This change will be incorporated into the DFS. The 100%-owned Kathleen Valley Lithium-Tantalum Project is located in the North Eastern Goldfields of Western Australia, approximately 400km north of Kalgoorlie close to well-established transport and energy infrastructure. Liontown acquired the Project in 2017 and has since drilled 461 RC and diamond core holes for a total of 89,066m. Data from the drilling has been used to prepare a MRE of 156Mt @ 1.4% Li2O and 130ppm Ta2O5, making Kathleen Valley one of the larger, spodumene-related hard rock lithium resources in the world.