REG - CleanTech Lithium - LV CEOL Terms Agreed with Chilean Government

Cleantech LithiumAnnouncement

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RNS Number : 1203W  CleanTech Lithium PLC  10 March 2026

10 March 2026

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

Laguna Verde CEOL Terms Agreed with Chilean Government

 

CleanTech Lithium (AIM: CTL, Frankfurt:T2N), an exploration and development
company advancing sustainable lithium projects in Chile, is delighted to
announce that the Company and the Mining Ministry in Chile have formally
agreed the contractual terms on which the Special Lithium Operating Contract
("CEOL") for Laguna Verde is to be awarded to CleanTech Lithium and its
minority-party consortium partner. A final ratification step is required by
the Comptroller General's Office (the "Comptroller") to ensure the Decree
complies with the Constitution and laws of Chile.

Highlights:

·    CleanTech Lithium has agreed via its wholly owned subsidiary, Atacama
Salt Lakes SpA ("ASL"), the terms of the CEOL with the Ministry of Mining in
Chile.

·    This is a transformational de-risking event for the Company. It
provides long-term contractual certainty directly with the Chilean State,
underpinning the investment case and accelerating the path to production.

·    The CEOL runs for 40 years with an area of 153km(2) and covers all
aspects of project development: exploration and evaluation, construction,
lithium production, and project closure. See appendix for final government
defined polygon area which, as a result of local indigenous consultations, now
excludes the lake surface area.

·    All the material economic, commercial and legal terms are
substantively consistent with other CEOLs in Chile.

·    The CEOL reaffirms the Company's commitment to deliver meaningful
socioeconomic benefit to the Atacama region and alignment with Chile's
National Lithium Strategy.

·    Consistent with all other decrees in Chile, a final review is
required by the Comptroller to ensure it complies with the Constitution and
laws of Chile. The Board is not aware of any reason why the Decree would not
be processed and anticipates ratification will take place in Q2 2026.

·    Please watch an interview with CEO Ignacio Mehech discussing the
significance of this news: click here to watch
(https://www.youtube.com/watch?v=2Vr017pwNLU)

Ignacio Mehech, Chief Executive Officer of CleanTech Lithium, commented: "I am
delighted to share this news with our shareholders and wider stakeholders as
this is arguably the most significant moment for CleanTech Lithium's flagship
project, Laguna Verde. The agreement of the CEOL demonstrates the strong
alignment between Laguna Verde and Chile's strategy to expand lithium
production responsibly and sustainably, emphasising the Government's
confidence in our approach to project development.

"This represents a landmark occasion for the Company; we are one of only a few
companies being awarded a CEOL. I would like to personally thank the team and
all stakeholders who were involved in this effort and our shareholders for
their support during what proved to be a protracted process. We can now move
forwards to the next phase of unlocking the full potential of Laguna Verde."

Details:

Having successfully progressed the application filed by ASL on 29 December
2025, the terms of the CEOL have been formally agreed by the parties. With a
term of 40 years, the CEOL will start from the date on which the
administrative act (the "Decree") issued by the Ministry of Mining approving
the contract has been fully processed. For this to happen, the Ministry has
sent the Decree to the Comptroller.

Consistent with all other decrees in Chile, a final ratification step is
required by the Comptroller to ensure the Decree complies with the
Constitution and laws of Chile. The Comptroller may not change the terms
agreed in the CEOL and the Board anticipates Comptroller ratification will
take place in Q2 2026, as previously reported. Furthermore, the Board is not
aware of any reason why the Decree will not be approved.

The CEOL covers all phases of the project: exploration and evaluation,
construction, lithium production, and project closure. The Company also notes
that all the material economic, commercial, and legal terms are substantively
consistent with other CEOLs awarded in Chile.

As part of the CEOL, the Company commits to delivering meaningful
socioeconomic impact to the region and is strongly aligned with Chile's
National Lithium Strategy. CTL has already established partnerships with local
indigenous communities and regional universities. With the Decree submitted
for ratification, the Company will now finalise its Pre-Feasibility Study
("PFS"), publish the results and enter the next phase of the Project´s
commercial development which includes the introduction of a strategic partner.

The Laguna Verde Project

CleanTech Lithium has undertaken extensive exploration and development
activities at Laguna Verde since 2021, focused entirely on the subsurface
brine aquifer in the basin. From the multiple drilling programmes, the
Company has encountered average grades of lithium of 175mg/L and recorded up
to 409mg/L at depth. The Project is considered highly commercial with a
previously announced (10 November 2025) JORC compliant resource estimate of
1.9 million tonnes of lithium carbonate equivalent ("LCE") (see note) equating
to a multi-decade opportunity. The Company is proposing to use Direct Lithium
Extraction ("DLE") methods to efficiently extract lithium without the use of
evaporation ponds. CleanTech Lithium aims to make the Laguna Verde Project a
model for low-cost, low-impact lithium production in Chile. (Note: the
Resource Statement set out above may be subject to revision in due course in
the light of the final polygon.)

The information communicated within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulations (EU) No
596/2014 which is part of UK law by virtue of the European Union (Withdrawal)
Act 2018. Upon publication of this announcement, this inside information is
now considered to be in the public domain. The person who arranged for the
release of this announcement on behalf of the Company was Steve Kesler,
Director and Chairman.

 

Appendix

Figure 1: The final Government defined polygon area for Laguna Verde.

"Zona Exclusión" represents the lake surface (updated as a result of local
indigenous consultations).

 

Investors can sign up to Investor Meet Company for free and add to meet
CleanTech Lithium Plc via:
https://www.investormeetcompany.com/cleantech-lithium-plc/register-investor
(https://www.investormeetcompany.com/cleantech-lithium-plc/register-investor)

 

 For further information contact:
 CleanTech Lithium PLC
 Ignacio Mehech/Gordon Stein/Nick Baxter       Office: +44 (0) 1534 668 321

                                               Mobile: +44 (0) 7494 630 360

                                               Chile office: +562-32239222
 Beaumont Cornish Limited (Nominated Adviser)  +44 (0) 20 7628 3396

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

 Daniel Fox-Davies                             daniel@istar.capital
 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.

 

Notes

CleanTech Lithium (AIM:CTL, Frankfurt:T2N) is an exploration and development
company advancing lithium projects in Chile for the clean energy transition.
CleanTech Lithium has two key lithium projects in Chile, Laguna Verde and
Viento Andino, and exploration stage project in Arenas Blancas (Salar de
Atacama), located in the lithium triangle, a leading centre for battery grade
lithium production.

 

CleanTech Lithium is committed to utilising Direct Lithium Extraction ("DLE")
with reinjection of spent brine resulting in no aquifer depletion. Direct
Lithium Extraction is a transformative technology which removes lithium from
brine with higher recoveries, short development lead times and no extensive
evaporation pond construction. For more information, please visit:
www.ctlithium.com (http://www.ctlithium.com)

 

**ENDS**

 

 

 

 

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