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RCS - CleanTech Lithium - RFI Process Update

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RNS Number : 8511V  CleanTech Lithium PLC  10 July 2024

REACH

10 July 2024

CleanTech Lithium PLC ("CleanTech Lithium", "CTL" or the "Company")

Update on "Expressions of Interest" RFI process

 

CleanTech Lithium PLC (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF), an exploration
and development company advancing sustainable lithium projects in Chile,
comments on the Chilean Government's announcement yesterday on the
"Expressions of Interest" ("RFI"), which is part of the process towards award
of a Special Lithium Operating Contract ("CEOL") required to develop lithium
projects in the country. As previously announced on the 17(th) June 2024, the
Company submitted RFIs for the advanced Laguna Verde and Viento Andino
projects and three others in Joint Ventures ("JV") and, as per yesterday's
update, now expects to hear back by the end of August 2024. CTL believes it is
well positioned to meet the criteria set out by the Government as evidenced by
CTL's advancement in Direct Lithium Extraction ("DLE") and the existing
alliance with the local communities to co-develop the Company's lithium
projects.

On Tuesday 9(th) July, the Government confirmed a total of 88 RFIs were
received for the available salars in Chile to develop lithium projects with
over 80% indicating the use of DLE technologies. Further details of which
companies or the number of submissions per salar were not provided.

According to the announcement the Government will engage local communities in
July to inform them of the results of the RFI process and gather their views
and concerns. The Government is currently analysing the projects by looking at
the financial capacity of the company; estimated annual production; use of
technology; experience in mining projects; level of project progress; among
other criteria. The Government will then announce by the end of August the
mechanisms for allocation over the prioritised deposits.

Steve Kesler, Executive Chairman and Interim Chief Executive Officer,
CleanTech Lithium PLC, said:

"The Chilean Government has confirmed the RFI procedure is ongoing and that
all applications made by interested parties are being reviewed, with a further
update expected by the end of August. We remain very confident that our
flagship project, Laguna Verde, which is the most advanced DLE project in
Chile, will be prioritised by a Government that has said it wishes to see new
lithium projects in production by 2026. We will continue to liaise with
Government and the communities to seek the earliest award of a CEOL.

 

 The Company has demonstrated that it is developing lithium projects in line
with the objectives of the National Lithium Strategy, evidenced by the
extensive groundwork we have completed over the past few years. We have an
operational DLE pilot plant to sustainably extract lithium and have been
pursuing early engagement with local communities with a co-signed agreement.
Meanwhile, we continue our proactive work programme with further results from
the DLE process work to be reported shortly."

 

 For further information contact:
 CleanTech Lithium PLC
 Steve Kesler/Gordon Stein/Nick Baxter          Jersey office: +44 (0) 1534 668 321

                                                Chile office: +562-32239222
                                                Or via Celicourt
 Celicourt Communications                       +44 (0) 20 7770 6424

 Felicity Winkles/Philip Dennis/Ali AlQahtani   cleantech@celicourt.uk (mailto:cleantech@celicourt.uk)
 Beaumont Cornish Limited (Nominated Adviser)   +44 (0) 20 7628 3396

 Roland Cornish/Asia Szusciak
 Fox-Davies Capital Limited (Joint Broker)      +44 (0) 20 3884 8450

 Daniel Fox-Davies                              daniel@fox-davies.com (mailto:daniel@fox-davies.com)
 Canaccord Genuity (Joint Broker)               +44 (0) 20 7523 4680

 James Asensio

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

 

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Notes

CleanTech Lithium (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF) is an exploration and
development company advancing sustainable lithium projects in Chile for the
clean energy transition. Committed to net-zero, CleanTech Lithium's mission is
to produce material quantities of sustainable battery grade lithium products
using Direct Lithium Extraction technology powered by renewable energy. The
Company plans to be a leading supplier of 'green' lithium to the EV and
battery manufacturing market.

CleanTech Lithium has two key lithium projects in Chile, Laguna Verde and
Viento Andino, and hold licences in Llamara and Salar de Atacama, located in
the lithium triangle, a leading centre for battery grade lithium production.
The two major projects: Laguna Verde and Viento Andino are situated within
basins controlled by the Company, which affords significant potential
development and operational advantages. All four projects have direct access
to existing infrastructure and renewable power.

CleanTech Lithium is committed to using renewable power for processing and
reducing the environmental impact of its lithium production by utilising
Direct Lithium Extraction with reinjection of spent brine. Direct Lithium
Extraction is a transformative technology which removes lithium from brine,
with higher recoveries than conventional extraction processes. The method
offers short development lead times with no extensive site construction or
evaporation pond development so there is minimal water depletion from the
aquifer. www.ctlithium.com (http://www.ctlithium.com/)

 

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