REG - Aterian PLC - Transformational AI-Led JV with Lithosquare SAS

AterianAnnouncement

09/12/2025 07:45

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RNS Number : 8058K  Aterian PLC  09 December 2025

09 December 2025

Aterian Plc

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

Transformational AI-Led JV with Lithosquare SAS

 

€1.4 million exploration acceleration programme for Aterian's Moroccan and
Botswana copper and critical mineral targets

Aterian plc (LSE: ATN), the critical mineral exploration and development
company focused on Africa, is pleased to announce the signing of a binding
Heads of Terms ("HoT") for a strategic, AI-powered earn-in joint venture
("JV") with Lithosquare SAS ("Lithosquare"), a Paris-based next-generation
exploration company combining foundational AI, advanced data science and deep
geological expertise to accelerate mineral discovery (( 1  (#_ftn1) )).

Key Highlights of the JV:

·    Up to €1.4 million fully funded AI-led programme directed across
eight priority Aterian projects ("JV Projects")

·    Potential for Lithosquare to earn a 2.0% net smelter return (NSR) and
up to 49.9% equity and, strictly tied to exploration success and value
creation

·    Initial €500,000 investment for AI-driven target generation,
geophysics, mapping and scout drilling to identify high-value copper and
critical mineral targets rapidly

·    €900,000 additional projected drilling to advance successful
targets

·    Lithosquare has an initial 20% project interest and 0.5% ("NSR") with
additional equity and NSR interests tied to value creation catalysts

·    JV covers exploration across highly promising 2,898 km(2) of Copper
Belts (KCB & Anti-Atlas)

This capital-efficient structure enables Aterian to accelerate value creation
on its portfolio with zero dilution. The JV partners are aligned on rapid
execution and value creation with work already underway.

 

Aterian CEO Simon Rollason commented:

"This is a transformational step for Aterian. This AI-led exploration
programme allows us to fast-track eight projects simultaneously, deploy
next-generation technology at no cost to shareholders, and rapidly define
high-value drill targets. It represents a strategic inflexion point for the
Company and a strong external validation of the quality and potential of our
portfolio."

Lithosquare CEO and Co-Founder Aymeric Preveral-Etcheverry commented:

This partnership marks an important point in Lithosquare's journey, granting
Lithosquare with access to a world class exploration ground, validating our
unique foundational Geology AI approach. Aterian and Lithosquare share the
same vision with a fast-paced road to value creation. Through this joint
venture, Lithosquare demonstrates its commitment to deliver fast-paced
exploration results.

 

Aterian Executive Chairman Charles Bray commented:

"Our copper and silver exploration budgets for the first half of 2026 are
covered with over 2,898 km(2) of KCB and Anti-Atlas project areas being
analysed and ranked for discovery. The JV combines our high-quality
exploration portfolio with Lithosquare's proven AI technology and team of
geoscientists to create a powerful engine for discovery. The exploration
programme gives us an immediate pathway to unlock value across multiple copper
belts, at scale, and at speed. It is a bold, highly strategic move that
establishes real momentum in our exploration programme with spending targeted
specifically at the most prospective targets in the portfolio. We look forward
to working with our new partners."

Aterian and Lithosquare will select the eight highest-potential targets across
Morocco and Botswana using a combination of proprietary AI mineral-system
modelling, geophysical data enhancement, anomaly mapping, and targeted scout
drilling.

The programme aims to convert high-potential licences into advanced,
drill-ready targets over a short work cycle, significantly accelerating the
Company's roadmap across multiple copper belts.

 

This partnership marks a significant step-change in Aterian's exploration
strategy, positioning the Company as one of the first African exploration
groups to deploy AI simultaneously across multiple copper and critical mineral
licences. The programme is designed to fast-track discovery, expand
drill-ready targets, and unlock value across a large portion of the Company's
portfolio without dilution to the Aterian shareholders.

 

Positioning Aterian at the Forefront of Modern Exploration:

 

By integrating high-resolution fieldwork with foundational AI, Aterian and
Lithosquare aim to demonstrate a new, scalable model for critical mineral
discovery across Africa.

Further updates will be provided to the market as the agreement progresses.

- 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 contact:

 Investor questions on this announcement

 We encourage all investors to share questions   https://aterianplc.com/s/fcf8eb (https://aterianplc.com/s/fcf8eb)

 on this announcement via our investor hub

Aterian Plc:

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

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

 

Financial Adviser and Joint Broker:

AlbR Capital Limited

David Coffman / Dan Harris

Colin Rowbury

Tel: +44 (0)207 7469 0930

 

Joint Broker:

SP Angel Corporate Finance LLP

Ewan Leggat / Adam Cowl

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 ten mineral prospecting licences
for copper-silver in the world-renowned Kalahari Copperbelt and three for
lithium brine exploration in the Makgadikgadi Pans region. The Company 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 startup that combines
geology expertise with artificial intelligence and data-science tools to
accelerate the search for new deposits of transition metals; critical minerals
needed for clean energy, batteries, and electronics. They are developing a
proprietary AI platform that analyses geological, geophysical, and publicly
available data to identify and prioritise promising exploration targets, with
the aim of reducing costs, time, and uncertainty compared to conventional
exploration.

 1  (#_ftnref1)  www.lithosquare.com

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