Ann: Pilot trial reports completed and quality crystals produced, page-25

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Lepidico (ASX:LPD) announced today that all test-work associated with the demonstration and pilot scale trials that started in November 2021 has successfully completed and reported on by Strategic Metallurgy, with excellent results received that confirm the Phase 1 L-Max and LOH-Max design. The two final reports, lithium hydroxide refining and by-product manufacture, have been reviewed by Lepidico. These are now being provided to Behre Dolbear Australia Pty Ltd (BDA), Independent Engineer to lender International Development Finance Corporation (DFC), along with the latest Karibib mine schedule, allowing it to complete its technical review. This represents a major gating item for closing out due diligence and finalising Project lending. Managing Director Joe Walsh said, “Final data from these most recent extensive pilot trials provide enormous confidence in Lepidico’s process technologies and further reduce Phase 1 risk, as the learnings have been progressively included into the process design criteria. It is most gratifying that independent third-party test-work has demonstrated that LOH-Max can produce a “more pure” lithium hydroxide than the conventional sodium sulfate process and result in high quality crystal morphology. We now look forward to taking our project debt initiatives to the finish line.” Shares are trading up 16.7 per cent to 2 cents.

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