Vulcan Managing Director, Dr. Francis Wedin, commented: “Having...

Vulcan Managing Director, Dr. Francis Wedin, commented: “Having just
returned from an extended period with our team at the Vulcan Karlsruhe
office, I am pleased to report on the progress of the Zero Carbon Lithium™
Project. We have completed the acquisition of key 2D and 3D seismic data
over our project areas, which significantly shortcuts development time.

The geological team is now working hard to model high brine-flow rate
fault zones from the data, from which we plan to upgrade the confidence
category in our some of our resource areas. Our engineering partners are
progressing well on the lithium and geothermal plant studies towards our
PFS. We believe that the PFS will be a significant milestone and inflexion
point for the Zero Carbon Lithium™ Project.

The business development team has held numerous meetings with
European lithium offtakers, in line with our goal of securing offtake
agreements in the world’s fastest growing lithium market, the European
electric vehicle market. These meetings were spear-headed by our new VP
Business Development and lithium industry expert Vincent Pedailles,
assisted by former Tesla director Jochen Rudat. We look forward to
keeping shareholders abreast of our progress during this exciting time in
the industry.”