Core Lithium Ltd has released an update outlining significant increases in its Finniss Lithium Project’s Ore Reserve and Mineral Resource estimates. The company now reports a doubling of the Grants Reserve from 0.57 million tonnes (Mt) to 1.15Mt after switching from open‐pit to underground mining to reduce costs and access more material. When combined with the updated BP33 deposit—which now contributes 9.29Mt—the total Finniss Ore Reserve amounts to 10.73Mt grading at 1.29% Li2O. This Ore Reserve estimate underpins the first ten years of production as outlined in the Restart Study. The update also notes that the overall project Mineral Resource has risen slightly by 0.6% to 48.5Mt at 1.26% Li2O, with an additional 310,000 tonnes of mineralised material from tailings storage and coarse rejects now classified as indicated. Core Lithium’s technical reports detail that the production plan involves underground mining methods for both Grants and BP33 deposits using long hole open stoping techniques, with modifications including paste backfill for BP33 and pillar retention at Grants. The study assumes a breakeven net smelter return cut-off of US$110 per tonne and forecasts a long-term spodumene concentrate price of US$1,330 per tonne on a 6.0% standard. Further to the reserve and resource updates, Core Lithium has defined an Exploration Target of between 10.9 and 16.5Mt at grades ranging from 1.5% to 1.7% Li2O, spread across the BP33 and Blackbeard zones. The target at Blackbeard is based on encouraging drill intersections that indicate the potential for a large, continuous pegmatite system. Planned additional drilling will test these targets, which remain conceptual until further exploration confirms the estimates. From a market sentiment perspective, the data points to a bullish outlook. The significant increase in ore reserves, alongside the strategic shift to underground mining methods, supports an extended mine life and lower operating costs. Established technical indicators, such as the detailed JORC-compliant reporting and forward-looking infrastructure plans, also bolster confidence in the project’s viability. On the bearish side, investors may note that some exploration targets remain conceptual and require additional drilling, coupled with potential regulatory or environmental hurdles that will need resolution prior to full-scale production restart. Overall, the updates reinforce Core Lithium Ltd’s potential to deliver sustained value amid the rising global demand for lithium.