Expressions of Interest Submitted

CleanTech Lithium PLC

25 June 2024

 

25 June 2024

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

Expressions of Interest Submitted

Project Name Change

CleanTech Lithium PLC (AIM: CTL, Frankfurt:T2N, OTCQX:CTLHF), an exploration and development company advancing sustainable lithium projects in Chile, confirms Expressions of Interest ("RFIs") for a total of five lithium projects have been submitted for the Chilean Government to review. This is part of the process the Company must follow to be awarded a Special Lithium Operating Contract ("CEOL") to produce lithium. In addition, the Company would like to announce that it has renamed its second flagship project Francisco Basin to Viento Andino.

Highlights:

·    The Company's subsidiaries, Atacama Salt Lakes SpA, CLS Chile SpA and CleanTech Antofagasta SpA, have submitted RFIs to the Chilean Government in-line with the updated CEOL application procedure, part of the National Lithium Strategy.

·    It is expected that the Chilean Government will release an update on the RFIs process on or around 9th July 2024, where the Government will elaborate on how projects are expected to move forward with the process leading to the award of a CEOL, a key contract required to becoming a new lithium producer in Chile subject to environmental impact assessments and possibly further consultation with local communities.

·    RFIs have been submitted for CTL's two most advanced projects; Laguna Verde and Viento Andino (previously known as Francisco Basin) and three additional RFIs have been submitted for projects in partnership with other parties which are subject to confidentiality.

·    The RFIs highlight the advanced progress CTL has made developing its projects based on using Direct Lithium Extraction, early and groundbreaking community engagement, and full alignment with Chile´s National Lithium Strategy.

·    The name of the Company´s Francisco Basin project has been changed to Viento Andino, in line with the RFI submission, to highlight the project area is outside the area of a national park of similar name located in the basin.

·    The award in due course of CEOLs will help CTL secure investment for the construction of the Projects thus contributing to the future supply of sustainable lithium from Chile.

Steve Kesler, Executive Chairman and Interim CEO, of CleanTech Lithium PLC, said: "We are very pleased to confirm the Expressions of Interest have been submitted to the Chilean government ahead of the deadline set by the Ministry of Mining. Submissions were made in respect of our two advanced wholly owned projects and three new prospective projects as joint ventures. We have highlighted the significant investment we have already made across our lithium projects, the positive progress with DLE and our established engagement with local communities. These submissions are a required step in the process to be awarded a CEOL by the Government, and the granting of a CEOL is key to becoming a lithium producer, subject to environmental impact assessments which are already underway. We expect to hear from the Government in July how the process towards the award of CEOLs for our two advanced projects will move forward following the announcement of results of the RFI process on or around 9th July."

Expressions of Interest Submitted

CleanTech Lithium submitted the Laguna Verde and Viento Andino Expressions of Interest ahead of the deadline of 17^th June 2024 set by the Chilean government. The RFI process is for the Government to collate interest from all companies and review the suitability of developing a lithium project on all the salars in Chile that were identified as open for development. The Government will consider if consultation with local communities is needed before proceeding with the process to award a CEOL.  CTL has maintained open dialogue with local communities since inception of its projects and signed a collaboration agreement with key local communities in December 2023, receiving their strong support for the development of CTL's sustainable lithium projects.

A third RFI submitted relates to the exploration licences CTL holds in the basin of the Salar de Atacama, which are significantly outside the salar margin, and the area designated as strategic under the National Lithium Strategy. This has been designated as the ´Arenas Blancas´ project. The Company has submitted a joint venture RFI with a private Chilean company with the combined licence area of the two companies having good prospectivity. The submission provides a compelling alternative for a sustainable lithium project in the region with a DLE based extraction-reinjection model that protects the hydrogeological balance of the subsurface aquifer and provides for innovative ways to work with the local community.

Two further RFIs have been submitted in joint venture with another party over salars that have been declared by the Government as open for lithium development. Details of these submissions remain, at this stage, confidential but if CEOLs are awarded for these an appropriate announcement will be made.

Project Name Change; Francisco Basin to Viento Andino

Francisco Basin has been CTL´s second priority project after the more advanced Laguna Verde project. The project is located in the vicinity of the Nevada Tres Cruces national park, which extends from the southern part of the Maricunga basin to the northern part of the Laguna del Negro Francisco basin, otherwise referred to as Francisco Basin. In March 2024, as part of the National Lithium Strategy, the Chilean Government further clarified that national parks would be protected from lithium development.

The Company has made the decision to change the name of the Francisco Basin Project to Viento Andino to remove any doubt as to which area the project covers and underlining that all previous exploration programmes and planned works are undertaken outside of the protected area and additionally applying a buffer zone.

For further information contact:
CleanTech Lithium PLC
Steve Kesler/Gordon Stein/Nick Baxter	Jersey office: [phone] Chile office: [phone]
	Or via Celicourt
Celicourt Communications Felicity Winkles/Philip Dennis/Ali AlQahtani	[phone] [e-mail]
Beaumont Cornish Limited (Nominated Adviser) Roland Cornish/Asia Szusciak	[phone]
Canaccord Genuity (Joint Broker) James Asensio	[phone]
Fox-Davies Capital Limited (Joint Broker)	[phone]
Daniel Fox-Davies	[e-mail]

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, 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

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