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1 ANNOUNCEMENT TO THE AUSTRALIAN SECURITIES EXCHANGE: 24 JANUARY 2017 MAIDEN DRILLING CAMPAIGN COMMENCES ON THE PIEDMONT LITHIUM PROJECT WCP has begun an initial drilling prgram at the Piedmnt Lithium Prject, lcated within the wrld-class Carlina Tin-Spdumene Belt and alng trend t the Hallman Beam and Kings Muntain mines, histrically prviding mst f the western wrld s lithium between 1950 and 1990 Phase 1 drilling will include a 10-hle prgram designed t strengthen the gelgical understanding f the lithium bearing spdumene pegmatites identified frm histrical explratin, with results due in the secnd quarter f 2017 Subsequent drilling (Phase 2) t be cnducted in the secnd quarter f 2017 which is expected t supprt the delineatin f a maiden JORC Resurce Fllwing successful cmpletin f the drilling campaign and delineatin f a maiden JORC Resurce, the Cmpany will cmmence technical studies at the Piedmnt Lithium Prject WCP cntinues its aggressive land leasing prgram expanding ut frm its initial strategic Piedmnt Lithium Prject area and is currently in negtiatins with multiple landwners within the highly prspective Carlina Tin-Spdumene belt WCP s explratin campaign cntinues t leverage its initial land psitin with excellent access t infrastructure and nearby lithium prcessing plants, facilitating the Cmpany s effrts in restarting lithium prductin frm this histric wrld-class lithium regin WCP Resurces Limited ( WCP r Cmpany ) (ASX:WCP) is pleased t annunce that it has cmmenced the first phase f a drilling campaign n the Piedmnt Lithium Prject ( Prject ) wned by the Cmpany s 100% subsidiary, Piedmnt Lithium Inc., which is lcated in the Carlina Tin- Spdumene Belt ( TSB ), a histric lithium prducing district in Nrth Carlina, United States. The drilling campaign will begin with a first phase cnsisting f 10 hles ttalling 1,500 metres f drilling which will be designed t extend upn the understanding f the currently mapped and drilled pegmatites n the Prject area (Figure 1). The results f this first phase tgether with additinal grund explratin and mapping wrk will cntinue t build upn the understanding f the lithium bearing gelgy f the Prject. Thick znes f high grade mineralisatin have previusly been recrded at shallw depths n the Prject with intercepts including; 1.18% Li 2 O frm 29 m (hle 09-BD-03) 1.24% Li 2 O frm 43m (hle 09-BD-06) 1.55% Li 2 O frm 28m (hle 09-BD-10) 1.33% Li 2 O frm 28m and 2.17% Li 2 O (hle 09-BD-05) 1.31% Li 2 O frm 81m and 1.34% Li 2 O frm 197m (hle 09-BD-14) 1.42% Li 2 O frm 63m and 2.83% Li 2 O frm 72m (hle 09-BD-17) 1.48% Li 2 O frm 44m and 1.48% Li 2 O frm 59m (hle 09-BD-18) ABN Level 9, BGC Centre, 28 The Esplanade, Perth WA 6000 Telephne Facsimile

2 Figure 1: First Phase Drill Prgram n the Piedmnt Lithium Prject 2

3 The Cmpany is highly cnfident f the ability t delineate further high grade intercepts in the first phase f the drilling campaign which will shwcase the ptential fr the Prject t becme a leading US based develper f lithium raw material supply int the grwing US dmestic Electric Vehicle and Battery Strage markets. Upn cmpletin f the first phase, the new drilling results in cnjunctin with histric explratin data, will frm the basis f the secnd phase drilling campaign which is expected t lead t the determinatin f a JORC / NI cmpliant Resurce at the Piedmnt Lithium Prject. Fr further infrmatin, cntact: Anastasis (Tas) Arima Executive Directr Telephne:

4 The Piedmnt Lithium Prject The Piedmnt Lithium Prject is lcated within the wrld-class Carlina Tin-Spdumene Belt ( TSB ), and alng trend t the Hallman Beam and Kings Muntain mines, histrically prviding mst f the western wrld s lithium between 1950 and The TSB is ne f the premier lcalities in the wrld t be explring fr lithium pegmatites given its histry f lithium bearing spdumene mining, favurable gelgy and ideal lcatin with easy access t infrastructure, pwer, R&D centres fr lithium and battery strage, majr high tech ppulatin centres and dwnstream lithium prcessing facilities. Figure Abve: Piedmnt Lithium Lcatin and Bessemer City Lithium Prcessing Plant (FMC, Tp Right) and Kings Muntain Lithium Prcessing Facility (Albemarle, Tp Left) The TSB has previusly been described as ne f the largest lithium prvinces in the wrld and is lcated apprximately 40 kilmetres west f Charltte, Nrth Carlina, United States. The TSB was the mst imprtant lithium prducing regin in the western wrld prir t the establishment f the brine peratins in Chile in the late 1990 s. The TSB extends ver apprximately 60 kilmetres in length and reaches a maximum width f apprximately 1.6 The Prject was riginally explred by Lithium Crpratin f America which eventually was acquired by FMC Crpratin ( FMC ). FMC and Albemarle Crpratin ( Albemarle ) bth histrically mined the lithium bearing spdumene pegmatites frm the TSB with the histric Kings Muntain lithium mine being described as ne f the richest spdumene depsits in the wrld by Albemarle. These tw mines and their respective metallurgy als frmed the basis fr the design f the tw lithium prcessing facilities in the regin which were the first mdern spdumene prcessing facilities in the western wrld. Albemarle and FMC cntinue t perate these imprtant lithium prcessing facilities with FMC s Bessemer City lithium prcessing facility being apprximately 14 kilmetres frm the Prject whilst Albemarle s Kings Muntain lithium prcessing facility is apprximately 17 kilmetres frm the Prject. The regin is The Cmpany is in a unique psitin t leverage its psitin as a first mver in restarting explratin in this histric lithium prducing regin with the aim f develping a strategic, U.S. dmestic surce f lithium t supply the increasing electric vehicle and battery strage markets. 4

5 Frward Lking Statements This annuncement may include frward-lking statements. These frward-lking statements are based n WCP s expectatins and beliefs cncerning future events. Frward lking statements are necessarily subject t risks, uncertainties and ther factrs, many f which are utside the cntrl f WCP, which culd cause actual results t differ materially frm such statements. WCP makes n undertaking t subsequently update r revise the frward-lking statements made in this annuncement, t reflect the circumstances r events after the date f that annuncement. Cmpetent Persns Statement The infrmatin in this reprt that relates t Explratin Results, is extracted frm the Cmpany s ASX annuncement dated 18 Octber 2016 entitled Previus Drilling Cnfirms High Grade Lithium Mineralisatin which is available t view n the Cmpany s website at The infrmatin in the riginal ASX Annuncement that related t Explratin Results was based n, and fairly represents, infrmatin cmpiled by Mr Lamnt Leatherman, a Cmpetent Persn wh is a Registered Member f the Sciety fr Mining, Metallurgy and Explratin, a Recgnised Prfessinal Organisatin (RPO). Mr Leatherman is a cnsultant t the Cmpany. Mr Leatherman has sufficient experience that is relevant t the style f mineralizatin and type f depsit under cnsideratin and t the activity being undertaken t qualify as a Cmpetent Persn as defined in the 2012 Editin f the Australasian Cde fr Reprting f Explratin Results, Mineral Resurces and Ore Reserves. The Cmpany cnfirms that it is nt aware f any new infrmatin r data that materially affects the infrmatin including in the riginal market annuncement. The Cmpany cnfirms that the frm and cntext in which the Cmpetent Persn s findings are presented have nt been materially mdified frm the riginal market annuncement. 5