ASX Announcement 17 February 2025UPDATED COMMERCIAL DEVELOPMENT...

ASX Announcement 17 February 2025
UPDATED COMMERCIAL DEVELOPMENT PLAN
FOR NORTH AMERICA’S FIRST LITHIUM BRINE
PRODUCTION FACILITY
HIGHLIGHTS
 Updated strategic phased development plan has been implemented for the Prairie Lithium Project.
 Phase I will see the Prairie Lithium Project go into production at Pad #1 using a commercial-scale
DLE unit capable of producing 150tpa of Lithium Carbonate Equivalent (LCE).
 To get into production, only AUD35m (USD22m) required to spend on Phase 1 CAPEX.
 Non-dilutive capital initiatives currently being considered with multiple potential strategic partners
completing extensive due diligence on the Prairie Lithium Project, in addition to existing
Government grants and loans being considered as well as traditional debt financing solutions.
 First commercial production marks the first Company in North America to reach this milestone.
 De-risking by a commercial scale proof of concept allows production to be increased by rapid
replication of the process at Pad #1.
 Construction work will commence at Pad #1 in Q2 2025.
 Phase 2 will immediately expand the facility with additional commercial-scale DLE units. Additional
units can be rapidly deployed to increase production at Pad #1. Phase III will see the Pad design
replicated across the already drilled and de-risked Pad #2, and Pad #3. Additional Pad locations
are also being finalised in 2025.
 Grey Owl Engineering has been engaged for facility engineering, procurement, and construction
(EPC). Grey Owl is a leading Western Canadian oil & gas facilities engineering company.
 The Prairie Lithium Project in Canada is perfectly positioned to feed battery-grade lithium
carbonate into the mature Asian battery market. Battery-grade samples produced from the Prairie
project are currently being distributed and tested in Asia.1