Mr. Kenneth Johnson reports

LIPARI MINING ANNOUNCES APPOINTMENT OF WES ROBERTS AS VICE PRESIDENT, BUSINESS DEVELOPMENT, CHANGES TO BOARD OF DIRECTORS AND COMPLETION OF CONTINUANCE TO ONTARIO

Lipari Mining Ltd. has appointed Wes Roberts as vice-president, business development.

Mr. Roberts is a mining executive and professional engineer with more than 40 years of global experience in the minerals industry. His extensive background spans exploration, engineering, project development, operations, corporate development, legal and capital markets. Mr. Roberts has held numerous positions in the mining industry, including positions with Canada Talc Ltd., Derry Michener Booth & Wahl, Davey International, Bharti Engineering, GMP Securities, Inco Ltd., VP Corporate Development Breakwater Resources Ltd., VP Mining for Heenan Blaikie LLP, Mineral Consultant for Dorsey & Whitney LLP, Co-Chair Technical Committee of Sigma Lithium and most recently as chief executive officer of Golden Share Resources. Mr. Roberts serves as a director of several public and private resource companies.

Throughout his career, Mr. Roberts has played a pivotal role in identifying and advancing resource projects worldwide. He serves as a trusted advisor to indigenous organizations in Canada, supporting negotiations on multiple commercial land access and impact benefit agreements of major mining operations in the territory of Nunavut, and Northern Ontario.

"We are very pleased to welcome Wes to the Lipari team," said Ken Johnson, president and chief executive officer of Lipari Mining. "His depth of experience in engineering, mine development and strategic partnerships, along with his considerable expertise in financing and capital markets, will be instrumental as we advance our next phase of growth at the Tchitengo diamond project in Angola and execute our evolving growth strategy."

Mr. Roberts holds a BSc and MSc in mining engineering from Queen's University, an MBA in finance from the Schulich School of Business and a certificate in mining law from Osgoode Hall Law School.

Board update

The company also announces the retirement and resignation of Bruce Ramsden as a director. Mr. Ramsden previously served as Lipari's chief financial officer prior to the company's listing on the Cboe Canada Exchange and played a key role in guiding the company through that milestone. The board thanks Mr. Ramsden for his significant contributions and wishes him well in retirement.

Lipari is pleased to announce the appointment of Jose Fabio Borges to the board of directors, filling the vacancy created by Mr. Ramsden's departure.

Mr. Borges is a seasoned finance and accounting executive with over 25 years of experience, including more than a decade in leadership roles within the mining industry. He currently serves as finance manager for Centaurus Metals Ltd., where he oversees financial and accounting operations for the Jaguar nickel project in Brazil. He previously served as finance director and a board member at Lipari Mineracao Ltd., where he was instrumental in shaping financial strategy, securing project financing and supporting the successful development of the Brauna diamond mine.

His career includes senior finance positions at Mirabela Mineracao, Sears Canada and the American Harsco Group. Mr. Borges holds an MBA in finance from IBMEC Business School, a postgraduate specialization in strategic financial management, and bachelor's degrees in both accounting sciences and business administration.

"Fabio brings a wealth of financial and operational expertise, a keen insight into capital markets and an intimate understanding of Lipari's strategic goals. As an independent member of Lipari's audit committee, Fabio's fluency in both Portuguese and English will prove to be invaluable to help ensure transparency in our financial reporting and audit process," said Kenneth Johnson, president and chief executive officer. "We are pleased to welcome him back to the company in a board capacity as we expand our presence in Angola and pursue long-term value creation."

Continuance to Ontario

Finally, the company is pleased to announce that, effective July 11, 2025, the company has been continued from Canada (Canada Business Corporations Act) to Ontario (Business Corporations Act (Ontario)).

The company adopted new articles and bylaws as part of the continuance, which replaced the prior articles and bylaws of the company. The continuance and the new articles and bylaws of the company were each approved by shareholders at the company's annual and special meeting of shareholders held on June 20, 2025. Copies of the certificate of continuance and the new articles and bylaws of the company will be available on SEDAR+ under the company's issuer profile and on the company's website.

About Lipari Mining Ltd.

Lipari Mining is South America's leading diamond producer, with a record of successful operations at the Brauna diamond mine in Brazil, which has produced over 1.2 million carats to date. Lipari is now applying its expertise to advance the highly prospective Tchitengo diamond project in Angola, marking the next phase of growth for the company.

The company is committed to environmentally responsible mining practices. Lipari's Brauna mine is the only diamond mine in the world that recycles nearly 100 per cent of the water used in ore processing, producing a dry tailings product which has potential as a soil remineralizer for the agricultural industry.

Lipari's shares are listed for trading on the Cboe Canada exchange under the symbol LML, and on the Frankfurt Stock Exchange under the symbol 0Y90.

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