REG - Aterian PLC - Lithosquare AI JV Delivers 8 Priority Targets

AterianAnnouncement

Tue 07:00

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RNS Number : 6810Y  Aterian PLC  31 March 2026

31 March 2026

 

Aterian plc

("Aterian" or the "Company" or the "Group")

 

Lithosquare AI JV Delivers 8 Priority Targets

Aterian plc (LSE: ATN), the African-focused critical minerals exploration and
trading company, is pleased to announce that its artificial intelligence
("AI") collaboration with Lithosquare SAS ("Lithosquare") has completed its
target selection phase as per the initially agreed schedule, delivering eight
priority targets across the Republics of Morocco ("Morocco") and Botswana
("Botswana").

 

Highlights:

·      AI collaboration delivers results on schedule, with Lithosquare
completing the target selection phase following a comprehensive technical
review of Aterian's portfolio.

·      Eight high-priority exploration targets identified, comprising
three projects in Morocco and five in Botswana.

·      Target selection combined AI-driven geological modelling,
detailed interpretation of Aterian's datasets, a site visit to Morocco, and a
global review of analogous mineral systems.

·      The review covered Aterian's broader African critical minerals
portfolio, leveraging large geological datasets to identify the most
prospective opportunities.

·      Next-stage exploration work programmes and budgets are now being
prepared, providing a clear pathway to advance these projects.

·      Long-form Joint Venture ("JV") agreement progressing toward
completion, formalising the strategic framework for the partnership and
reflecting both parties'commitment to an aggressive exploration timeline.

Charles Bray, Executive Chairman of Aterian plc, commented:

"The successful completion of the target selection phase with Lithosquare
demonstrates the powerful role that artificial intelligence can play in
accelerating mineral discovery. By applying advanced AI-driven geological
analysis to our extensive datasets, we are able to rapidly evaluate large
portions of our portfolio and focus our exploration efforts on the most
prospective opportunities.

 

The identification of eight high-priority targets across Morocco and Botswana
provides Aterian with a clearly defined pipeline of exploration projects with
strong geological indicators and compelling analogues to successful mineral
systems globally. Importantly, this process enables us to concentrate capital
and technical resources on the projects with the greatest potential to deliver
maximum value for shareholders.

 

The collaboration with Lithosquare is already proving highly effective in
refining our exploration strategy and significantly improving the efficiency
with which we can prioritise targets across our African portfolio. As we move
into the next phase of work programmes and advance the long-form JV agreement,
we believe this partnership positions Aterian to accelerate exploration
progress and unlock the considerable potential within our portfolio.

 

With global demand for critical minerals continuing to grow rapidly, Aterian's
combination of a diversified African asset base and the application of
advanced exploration technologies provides a strong platform from which to
pursue new discoveries and long-term value creation."

 

Aymeric Preveral-Etcheverry, CEO of Lithosquare SAS, added:

"We are very proud of moving ahead with Aterian, after having selected and
ranked eight targets as per schedule - a first proof point of the accelerating
factor of Lithosquare. It also speaks to Aterian's assets: the geological
quality was there to be found. Their willingness to bring AI-powered
exploration into their workflow early positions them to make the most of every
dollar deployed going forward. We are now entering the work program phase
together, and we look forward to demonstrating what this approach delivers at
full scale."

 

Strategic Importance

The application of AI-driven geological analysis enables Aterian to rapidly
evaluate large and complex datasets across its portfolio and identify
high-quality exploration opportunities more efficiently than traditional
methods. The collaboration with Lithosquare is intended to enhance exploration
targeting, reduce exploration risk and optimise the allocation of exploration
capital across the Company's projects.

The review leveraged extensive geological datasets across Aterian's African
project portfolio, enabling rapid evaluation of multiple exploration
opportunities. This work has enabled Aterian to prioritise the most
prospective opportunities within its portfolio and focus future exploration
expenditure on projects with the strongest geological indicators of potential
mineralisation.

The Company expects to provide further updates as work programmes are
finalised and the next phase of exploration activities commences.

Collaboration Update

Lithosquare undertook a comprehensive analysis of Aterian's geological,
geochemical and geophysical datasets, applying its AI and machine-learning
tools to identify patterns and characteristics associated with prospective
mineral systems.

As part of this process, Lithosquare also conducted a site visit to Morocco to
review key geological features in the field and validate elements of the
Company's datasets. In parallel, the team conducted an extensive review of
analogous mineral systems globally, identifying geological components and
exploration signatures associated with successful deposits of comparable
style. This benchmarking process helped determine which of Aterian's projects
display the most compelling similarities to known mineral systems and
therefore offer enhanced exploration potential.

Following this integrated review, eight projects have been identified as
priority exploration targets, including three projects in Morocco and five in
Botswana. These projects are considered to have the most favourable
combination of geological indicators and structural characteristics when
benchmarked against global analogues.

Aterian and Lithosquare are now preparing detailed work programmes and
associated budgets designed to advance the geological understanding of these
projects and further refine exploration targets. The next phase of work is
expected to include additional technical analysis and field-based activities
to advance the most promising opportunities towards potential drill-ready
targets.

In parallel, Aterian and Lithosquare are finalising a long-form JV Agreement,
which will establish the strategic framework for the continued development of
these priority projects and formalise the partnership between the two
organisations. This agreement reflects both parties' commitment to advancing
the most promising targets through to drill-ready status.

 

- ENDS -

 

This announcement contains information which, prior to its disclosure, was
inside information as stipulated under Regulation 11 of the Market Abuse
(Amendment) (EU Exit) Regulations 2019/310 (as amended).

 

Engage directly with the Aterian PLC management team by asking questions,
watching video summaries, and seeing what other shareholders have to say.
Please navigate to our interactive investor hub here:
https://aterianplc.com/s/fcf8eb (https://aterianplc.com/s/fcf8eb)

 

For further information, please visit the Company's website:
www.aterianplc.com (http://www.aterianplc.com) or contact:

 

Aterian Plc:

Charles Bray, Executive Chairman - charles.bray@aterianplc.com
(mailto:charles.bray@aterianplc.com)

Simon Rollason, CEO & Director - simon.rollason@aterianplc.com
(mailto:simon.rollason@aterianplc.com)

 

Financial Adviser and Joint Broker:

AlbR Capital Limited

David Coffman / Dan Harris

Tel: +44 (0)207 7469 0930

 

Joint Broker:

SP Angel Corporate Finance LLP

Ewan Leggat / Devik Mehta

Tel: +44 20 3470 0470

 

Financial PR:

Bald Voodoo - ben@baldvoodoo.com (mailto:ben@baldvoodoo.com)

Ben Kilbey

Tel: +44 (0)7811 209 344

 

Subscribe to our news alert service: https://atn-l.investorhub.com/auth/signup
(https://atn-l.investorhub.com/auth/signup)

Notes to Editors:

About Aterian plc

www.aterianplc.com (http://www.aterianplc.com)

 

Aterian plc is an LSE-listed exploration and development company with a
diversified African portfolio of critical metals projects.

Aterian plc is actively seeking to acquire and develop new critical metal
resources to strengthen its existing asset base while supporting ethical and
sustainable supply chains as the world transitions to a sustainable, renewable
future. The supply of these metals is vital for developing the renewable
energy, automotive, and electronic manufacturing sectors, which are
increasingly important in reducing carbon emissions and meeting global climate
ambitions.

 

Aterian has a portfolio of multiple copper-silver (+gold) and base-metal
projects in Morocco. Aterian holds a 90% interest in Atlantis Metals, a
private Botswana-registered company holding eleven mineral prospecting
licences for copper-silver in the world-renowned Kalahari Copperbelt and three
for lithium and salt brine exploration in the Makgadikgadi Pans region. The
Company also holds an exploration licence in southern Rwanda, where it is
evaluating the tantalum and niobium opportunity, in addition to further
exploring for pegmatite-hosted lithium.

 

The Company's strategy is to seek new exploration and production opportunities
across the African continent and to develop new sources of critical mineral
assets for exploration, development, and trading.

 

About Lithosquare

Lithosquare SAS is a Paris-based mineral exploration technology company
combining geological expertise with advanced artificial intelligence and data
science tools to accelerate the discovery of critical mineral deposits. The
company is developing a proprietary AI platform that analyses geological,
geophysical, and publicly available data to identify and prioritise promising
exploration targets, aiming to reduce costs, time, and uncertainty compared to
conventional exploration.

 

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