Laguna Verde Resource Update

CleanTech Lithium PLC

20 January 2025

 

20 January 2025

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

Laguna Verde Resource Update

CleanTech Lithium PLC ("CleanTech Lithium" or "CleanTech" or the "Company") (AIM: CTL, Frankfurt:T2N), an exploration and development company advancing sustainable lithium projects in Chile, announces an updated resource estimate for its Laguna Verde project that has been included by the Chile Government as one of the six salar systems to be prioritised for development.

Highlights:

·    The mineral resource estimate is updated from that reported in the RNS of 17 July 2023 based on additional exploration and pumping tests conducted in 2024

·    The JORC (2012) compliant estimate was calculated by Montgomery & Associates ("Montgomery´"), a leading hydrogeological consultant highly experienced in lithium brine resource estimation

·    The total updated resource is 1.63 million tonnes of Lithium Carbonate Equivalent (LCE), at a grade of 175 milligrams per litre (mg/l) lithium, of which 0.81 million tonnes is in the Measured + Indicated category at a grade of 178 mg/l lithium

·    This current resource estimate is based on the proposed polygon area included in the Company´s recently submitted application for a Special Operating Contract for Lithium ("CEOL")

·    The previous 2023 estimate which totalled 1.77 million tonnes LCE at an average grade of 200mg/l lithium was based on the previously proposed CEOL area under the old application regime that was larger covering the entire estimated resource of the basin.

·    Lithium concentrations obtained in the 2024 campaign were below the average grade of other exploration wells impacting the average lithium grade of the resource

·    Montgomery recommends three additional drillholes in the southwest, north and northeast to potentially increase the resource based on completed geophysics

·    This updated measured and indicated resource estimate will be used in the pre-feasibility study (PFS) which is intended to underpin a maiden reserve estimate for the Laguna Verde project

Steve Kesler, Executive Chairman, CleanTech Lithium said: "The updated JORC-compliant resource estimate for the Laguna Verde project, independently determined by Montgomery & Associates, confirms a robust and significant resource of 1.63 million tonnes of Lithium Carbonate Equivalent (LCE), with 0.81 million tonnes in the Measured and Indicated category at an average grade of 178 mg/l lithium. Now with greater confidence in the resource, this comprehensive evaluation will form the basis for the Pre-Feasibility Study, scheduled for end of this quarter. This positions Laguna Verde as a highly promising direct lithium extraction (DLE) based project in the lithium brine sector and as a contributor to Chile's future as a leading lithium producer for the global EV and battery market."

Further Details:

Project Background

The Laguna Verde corresponds to a lithium brine deposit which is found in the Atacama Region of Chile, near the Chile - Argentina border. The project consists of mining concessions located approximately 192 kilometres (km) northeast of Copiapó. The concession area is readily accessible via a network of paved roads from the closest major city Copiapó, following the route (R-31) for approximately 275 km. The Laguna Verde Basin has elevations that vary between 4,330 to 4,500 metres above sea level (masl), where the low altitude valley area is approximately 20 km long and 4 km wide.

Figure 1: Regional Location Map and Project Area

The previous resource estimate for Laguna Verde was reported in July 2023, based on five wells completed in 2022 and 2023. A drill programme was undertaken in 1H 2024 which completed two infill wells in the first half of 2024 along with three observation wells drilled to support observations during pumping tests. The location of wells completed from 2022 - 2024 are shown in Figure 2, along with three recommended wells to potentially increase the resource.

Figure 2: Existing and Recommended Exploration Wells at Laguna Verde

Resource Summary

Montgomery was engaged to support the 2024 field programme at Laguna Verde and based on the information obtained to provide an updated resource estimate and technical report for the project. The technical report has been prepared to conform to the regulatory requirements of the JORC Code (2012). Mineral Resources are also reported in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Best Practice Guidelines (CIM, 2012). 

The breakdown of the resource categories comprising the total resource estimate and the comparison with the previous 2023 estimate is shown below in Table 1. The previous 2023 estimate which totalled 1.77 million tonnes LCE at an average grade of 200 mg/l Lithium was based on a proposed CEOL area that was larger and covered the entire estimated resource of the basin, whereas the updated 2025 estimate is based on the Company's preferential licences and proposed polygon area included in the Company´s recently submitted application for a CEOL. As a comparison, the current resource estimate for the basin (on the same basis of larger CEOL area) would be 1.95 million tonnes LCE.

Lithium concentrations obtained in the 2024 campaign were below the average grade of other exploration wells impacting the average lithium grade. Although slightly lower than the lithium grade used in the 2023 scoping study a grade of 175 mg/l lithium is very suitable for the DLE process and is well above the cut-off grade of 100 mg/l lithium.

Table 1: Updated JORC Resource Estimate 2025 Compared to 2023 Resource Estimate

Special Operating Contract for Lithium (CEOL)

In April 2024 the Chilean government announced, as part of its National Lithium strategy, the intention to make available to the private sector CEOLs over 26 salt flats. As of September 2024, the Chilean government has prioritised six salt flats for the CEOL award process, one of which is Laguna Verde. The CEOL grants exclusive rights to exploit lithium and only one CEOL is to be granted per saline system. The Government also published a polygon CEOL area for each of the prioritised salt flats but clarified that this polygon area is referential and could be modified following community dialogue and with agreement of the applicant. The Government also announced that the CEOL could be awarded in a streamlined procedure that allowed direct negotiation with Government rather than through a public tender provided that a number of criteria were met. One criteria was that the applicant must demonstrate that it holds at least 80% of the preferential mining licences in the CEOL polygon.

CleanTech Lithium has proposed a modification to the published CEOL polygon in its CEOL application (shown in Figure 3) which has been developed to ensure that over 80% of the proposed CEOL polygon area is preferential mining licenses held by CleanTech. The CEOL application by CleanTech includes letters of support from indigenous communities for the proposed modified CEOL polygon.

Figure. 3: CleanTech´s Preferential Licences and Proposed CEOL Extent

Table 2 provides a breakdown of the current Laguna Verde resource estimate by resource category and by separating the resource attributable to the preferential licences held by the Company, and the provisional resources in licences held by third parties within the proposed CEOL area. The combined resource would be attributable to the Company provided the CEOL is awarded to CleanTech for the proposed area (Figure 3). 

Mineral resources are not mineral reserves and do not have demonstrated economic viability. Furthermore, not all mineral resources can be converted into mineral reserves after application of the modifying factors, which include but are not limited to mining, processing, economic, and environmental factors.

Table 2: Mineral Resource Estimate for the Laguna Verde Project (Effective January 3, 2025)

Resource Estimation Method

The updated resource estimate consists of Measured, Indicated and Inferred resources. A detailed geological and resource block model was creating in Leapfrog (Seequent, 2023) using obtained well lithologies, discrete-depth values for brine chemistry, drainable porosity values, and geophysical profiles. Lithium concentrations were interpolated using ordinary kriging, specific yield was assigned to each hydrogeological unit, and the mass calculations within the resource block model were undertaken using the Leapfrog Edge extension. A cut-off grade of 100mg/l lithium was conservatively applied based on the Laguna Verde scoping study capital and operating costs.

Consistent with the Houston et al. (2011) recommendations for immature salars, a 1.25 km radius circle around the well was used to estimate a Measured resource, a 2.5 km radius circle around the well was used to estimate an Indicated resource, while a maximum 5 km radius circle was used as the areal extent to estimate an Inferred resource. Depending on the confidence in the sampling procedures and presence of volcanic outcrops, some resource polygons were limited in extent.

Surface Rights

In Chile, Surface Access Rights should be granted or imposed on a mining concession before the extraction starts. CleanTech Surface Access Rights request was received by Bienes Nacionales on June 16, 2023, in the name of Atacama Salt Lakes SpA and is currently in process. The requested area totals 11,136 hectares and covers the project scoping study planned installations (Ad Infinitum, December, 2022). The requested area can be seen in Figure 4.

Figure 4. CleanTech's Requested Surface Right Area

Water Rights

There are surface water courses that contribute to the Laguna Verde. The Peñas Blanca River flows from west to east and has a continuous flow throughout the year, while to the east of the Laguna Verde, there are intermittent surface water flows. Freshwater exploration wells also exist in the western portion of the basin with demonstrated pumping rates that exceed 40 L/s (Hydro Exploraciones, 2020). Furthermore, a conceptual water balance of the basin recharge has been prepared and indicates that the average estimated freshwater recharge in the Laguna Verde Basin corresponds to 570 l/s (M&A, 2024a). Potential sources of freshwater for the Project include the application for groundwater rights in the basin or the purchase of water rights from third parties (CleanTech, 2024).

Geological Setting

The regional geology of the Project area is mainly characterised by volcanic and sedimentary sequences. Laguna Verde is an immature clastic salar basin, with the lagoon effectively corresponding to the evaporative "salar nucleus". The Project consists of a lithium-rich aquifer found below the lagoon and in the surrounding sediments. The brine is mainly hosted in volcaniclastic sediments and tuff beneath the lagoon with a moderate hydraulic conductivity.

The Laguna Verde stratigraphy is characterised by a band of tuffs with different grain sizes, consolidation / welding, type of clasts, and locally interbedded volcaniclastic sediments. This unit presents an average thickness of 400 metres and overlays the lower volcanic rock (mainly andesite) identified in drillholes and the gravity survey, which has some fracturing and a low drainable porosity. Furthermore, a fault zone which has highly fractured and brecciated rock was encountered along the southern portion of Laguna Verde. In all, the brine aquifer was characterised up to a maximum depth of 650 metres (LV07).

Figure 5 shows the locations for two NW-SE hydrogeological cross sections, and Figure 6 shows the sections with the hydrogeological units modelled in the Leapfrog software.

Figure 5: Hydrogeological Cross Section Locations

Figure 6: Hydrogeological Cross Sections

Exploration

CleanTech engaged Geodatos to conduct Transient ElectroMagnetic (TEM) geophysical surveys at Laguna Verde during the periods April to May 2021 and again in March 2022. The objective of these surveys was to determine the electrical properties of the subsurface sediments to provide information about the stratigraphy and water quality of the hydrogeologic units in the area. The surveys also helped determine the water table level and helped confirm the presence of brine.

A gravity survey was performed by Geodatos between the end of December 2022 and early January 2023. The survey campaign included TEM measurements and two extra profiles. One hundred and eleven (111) gravity stations, arranged in four lines surrounding the lagoon area, as well as fourteen (14) TEM stations, arranged in two lines, were surveyed with a 400-metre separation.

Figure 7: Laguna Verde Surveyed Gravity and TEM Stations

Drilling

An initial drilling campaign was conducted in 2022 and 2023 with four diamond drill holes (DDH) (LV01, LV02, LV03 and LV04) and two rotary wells (LV05 and LV06) as shown in Figure 2. A second campaign was conducted in 2024, with Montgomery personnel, where two exploration boreholes were drilled (LV07 and LV11) with monitoring wells for subsequent pumping tests at LV05 and LV06. Drilling at boreholes LV07 and LV11 reached a final depth of 650 metres below land surface (mbls) and 412.8 mbls, respectively. A pumping test at LV05 was initially conducted in the first campaign and included a pre-test and a 48-hour constant discharge test on April 8, 2023. During the 2024 campaign, a step-discharge and a constant-discharge were conducted at LV05, but due to adverse weather conditions, a long-term constant rate test could not be completed. During the first campaign, a pre-test and a constant discharge test were conducted at LV06 and a long-term (7-day) constant rate test was conducted during the 2024 campaign.

Table 3: Location and Depth Drilled for Years 2022, 2023 and 2024 Exploration Wells

Well	Drilling Method	Northing (m, WGS84 19S)	Easting (m, WGS84 19S)	Total Depth Drilled (m)	Year Drilled
LV01	DDH	7,027,088	549,432	474	2021-2022
LV02	DDH	7,024,396	553,992	339	2022
LV03	DDH	7,028,434	549,980	547.5*	2022
LV04	DDH	7,024,390	556,826	311	2022
LV05	Rotary	7,027,908	550,972	434.6	2022-2023
LV06	Rotary	7,026,004	555,912	405	2023
LVM05a	DDH	7,027,908	550,921	221.50	2024
LVM05b	DDH	7,027,951	550,946	41.5	2024
LVM06c	DDH	7,026,032	555,959	40	2024
LV07	DDH	7,025,296	552,561	650	2024
LV11	DDH	7,024,793	555,582	412.8	2024

*LV03 was drilled as an angled borehole with an azimuth of 120 degrees and dip of 60 degrees.

Figure 8: Drilling at LV07 in 1H 2024

Brine Sampling Collection and Analysis

Various methods were used to obtain brine samples during and after the exploration drilling program:

•             Packer sampling

•             Airlift sampling

•             Double-valved disposable bailer sampling

•             Double-valved electric bailer sampling

•             Hydra-sleeve sampling

•             Brine sampling during pumping tests

The brine sampling program included standard quality assurance/quality control (QA/QC) elements such as including duplicate brine and blank samples in bine sample batches sent to the laboratory. Formal traffic reports and chain of custody documents were prepared for every sample obtained and submitted for laboratory analysis. In the opinion of the Competent Person (CP), sample preparation, security, and analytical procedures were acceptable for this stage of the Project and results from the laboratory analyses are considered adequate.

Drill Core Sampling and Specific Yield Estimation

During the first campaign, core samples were obtained every 10 metres from the four drillholes and a total of 122 core samples were obtained at each drillhole and submitted to the DBS&A Laboratory in New Mexico, USA for Relative Brine Release Capacity (RBRC) tests. During the second campaign (2024), 33 core samples were obtained from LV07 and LV11 and were sent to GeoSystem Analysis (GSA) laboratory in Tucson, USA, for analysis.

Figure 9: Example of Drill Core from Exploration Borehole LV11 (132 to 136m)

Laboratory values for drainable porosity were obtained from 145 successfully analysed core samples. Core samples underwent Relative Brine Release Capacity (RBRC) tests. The drainable porosity (i.e., specific yield) measurement procedure involved saturating the core sample with a brine solution and placing them in test cells where a pressure differential was applied and the proportion of brine which can be drained was estimated. In the opinion of the CP, sample preparation, security, and analytical procedures were acceptable and results from the laboratory analyses are considered adequate for resource estimation. The 2023 resource estimate included drainable porosity measurements which were increased by a secondary porosity term calculated from rock quality designation logged during drilling. This current resource update uses drainable porosity measurements from the laboratory, without modification, which results in lower drainable porosities than used in the 2023 resource estimate.

The average drainable porosity values assigned to each hydrogeologic unit used to estimate the lithium resource are given in Table 3. Due to its smaller dataset, a simpler analysis was undertaken for drainable porosity to assign representative values by hydrogeological unit; constant (average) values were assigned to each hydrogeologic unit in the resource model, and drainable porosity values were not interpolated.

Table 3: Assigned Drainable Porosity Values for Laguna Verde Hydrogeological Units

Hydrogeological Unit	Average Drainable Porosity*	N° Samples
Unconsolidated Tuff and Coarse Tuff	6%	102
Consolidated Ash Tuff	3%	14
Brecciated and Fractured Rock	5%	9
Lower Volcanic Rock	1%	5
Upper Alluvium and Colluvium	10%**	0
Surficial Volcanic Deposits	3%***	0

* Rounded arithmetic average

** Assumed theoretical value

*** The drainable porosity of the consolidated ash tuff unit was assumed due to its lithological similarity. The number of blocks that correspond to the consolidated ash tuff within the resource block model are negligible compared to the rest of the hydrogeological units.  

Recommendations

Currently, the drilling and testing of a reinjection well is planned for the first quarter of 2025. In terms of the resource, three additional diamond drillholes in the southwest, north, and northeast are recommended to potentially expand the resource volume (Figure 2; LV08, LV09, and LV10) based on the conducted geophysics. During the drilling of those three additional diamond drillholes, depth-specific brine and drainable porosity sampling are recommended with the corresponding QA/QC measures.

Block Model Results and Verification

Figure 10 presents the shallowest interpolated concentrations of the brine body which were mapped to the Leapfrog block model; as can be seen, grades are highest in the western portion of Laguna Verde, whereas the eastern portion represents a zone of heightened recharge with diluted grades. The bottom of the block model was limited to the deepest well (LV07), and the horizontal extent of the block model was limited to the CleanTech concessions and potential of the proposed CEOL area. Laboratory results for lithium concentrations from depth specific brine and pumping test samples collected from the wells were incorporated directly into the model. Ordinary Kriging was used for the interpolation of lithium concentrations within the block model.

Figure 10: Shallow Lithium Concentration Distribution and Proposed CEOL Outline

The resource block model was subsequently validated by visual inspection and comparison of the measured and block model concentrations. Swath plots were also utilized, which compare the average measured and interpolated values along distinct profiles of the block model.

Competent Persons Statement

The following professionals act as competent persons, as defined in the AIM Note for Mining, Oil and Gas Companies (June 2009) and JORC Code (2012):

Mr. Michael Rosko is a Registered Member of the Society for Mining, Metallurgy and Exploration, member #4064687. He graduated from the University of Illinois with a bachelor's degree in geosciences in 1983, and from the University of Arizona with a master's degree in geosciences in 1986. Mr. Rosko is a registered professional geologist in the states of Arizona (#25065), California (#5236), and Texas (#6359). Mr. Rosko has practiced his profession for 38 years and has been directly involved in design of numerous exploration and production well programs in salar basins in support of lithium exploration, and estimation of the lithium resources and reserves for many other lithium projects in Argentina and Chile.

Mr. Brandon Schneider is employed as a Senior Hydrogeologist at M&A. He graduated from California Lutheran University in 2011 with a Bachelor of Science degree in Geology (with Honors) and obtained a Master of Science in Geological Sciences (Hydrogeology focus) from the University of Notre Dame in 2013. He is a professional in the discipline of Hydrogeology and a Registered Professional Geologist in Arizona (#61267) and SME Registered Member (#4306449). He has practiced his profession continuously since 2013. His relevant experience includes: (i) from 2013 to 2016, consulting hydrogeologist specializing in hydrogeological characterizations, aquifer test analyses, groundwater modeling, and pumping well optimization for mining projects and sedimentary basins in Arizona, United States; (ii) since 2017, consulting hydrogeologist in Chile specializing in lithium brine projects in Argentina and Chile with experience in brine exploration, lithium brine resource and reserve estimates, resource and reserve reporting, variable density flow and transport modeling, and optimization of pumping.

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]
Fox-Davies Capital Limited (Joint Broker) Daniel Fox-Davies	[phone] [e-mail]
Canaccord Genuity (Joint Broker) James Asensio	[phone]

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 lithium projects in Chile for the clean energy transition. Committed to net-zero, CleanTech Lithium's mission is to become a new supplier of battery grade lithium using Direct Lithium Extraction technology powered by renewable energy.

CleanTech Lithium has two key lithium projects in Chile, Laguna Verde and Viento Andino, and exploration stage projects in Llamara and Arenas Blancas (Salar de Atacama), located in the lithium triangle, a leading centre for battery grade lithium production. The two most advanced 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 good access to existing infrastructure.

CleanTech Lithium is committed to utilising Direct Lithium Extraction 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. www.ctlithium.com

**ENDS**

APPENDIX A - JORC TABLE 1

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code explanation	Commentary
Sampling techniques	·    Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. ·    Include reference to measures taken to ensure sample representativity and the appropriate calibration of any measurement tools or systems used. ·    Aspects of the determination of mineralisation that are Material to the Public Report. ·    In cases where 'industry standard' work has been done this would be relatively simple (eg 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.	·    Sub-surface brine samples were obtained using six different methods: Packer sampling, PVC airlift sampling, disposable bailer sampling, electric valve bailer sampling, HydraSleeve sampling, and composite brine sampling during pumping tests. ·    Brine water samples were taken from the surface of the lagoon, in an 800 m sampling grid, including eight sampling duplicates at random locations. The samples were taken from a 0.5 m depth, and for positions with a depth above 5 m, a bottom sample was also obtained. ·    In the field, electrical conductivity and temperature were measured for every sample with a Hanna Multiparameter device. All materials and sampling bottles were first flushed with brine water before being filled. ·    For every sample, 2 liters of brine were obtained with a 1-liter double valve bailer, using a new bailer for each sampling position. All materials and sampling bottles were first flushed with 100 cc of brine water before receiving the final sample. Electrical conductivity was measured for every sample with a Hanna Multiparameter model HI98192. The last two samples that had similar stabilized electrical conductivity values were identified as the primary and duplicate samples. ·    For the packer sampling, a packer bit tool provided by the drilling company (Big Bear) was used. Once the sampling support was sealed, a purging operation took place until no drilling mud was detected. After the purging operation, a half an hour waiting period took place to let brine enter to the packer tool before sampling with a double valve bailer. ·    Successive 1-liter samples were taken every 30 minutes with a double valve bailer. ·    Packer samples were obtained approximately every

		18 m. ·    PVC casing suction brine samples were extracted after well development. Once the well was clean and enough water was purged (at least three times the well volume), the PVC casing suction samples were taken from bottom to top while the 2-inch PVC was extracted from the well. A 20-liter bucket was filled with brine and samples were obtained from the bucket once the remaining fine sediments were decanted. ·      Brine airlift samples were taken every 6 m. ·      Disposable bailer samples were obtained by JCP Ltda. specialists in water sampling. Samples were taken from the interest depths with a double valve disposable bailer. The bailer was lowered and raised with an electric cable winch to maintain a constant velocity and avoid bailer valves opening after taking the sample. A new bailer was used for each well. ·      Disposable bailer samples were obtained every 6 m. ·      In the first quarter of 2023, electric bailer samples were taken from wells LV05, LV06, and LV02 after their proper development. Depth-specific samples were obtained with a 1-liter electric bailer. This sampling process was undertaken by Geodatos specialists. ·    On all sampling procedures the materials and sampling bottles were first flushed with 100 cc of brine water before receiving the final sample. ·    Packer samples were taken in wells LV01, LV02, LV03, LV07, and LV11. Airlift samples were obtained from wells LV01, LV04, LV05, and LV06. Disposable bailer samples were taken in wells LV01 and LV02. Electronic bailer samples were obtained from wells LV02, LV05, and LV06. HydraSleeve samples were taken from LV04 and LV11. Composite brine samples from pumping tests were taken at wells LV05 and LV06.
Drilling techniques	·    Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard	·    Diamond drilling with a PQ3 diameter was used to drill wells LV01 and LV03 to a depth of 320 m. Below that depth, the drilling diameter was reduced to HQ3.

tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).

·    At wells LV02 and LV04, diamond drilling with a PQ3 diameter was used to their final depth. ·    For both diameters, a triple tube core barrel was used for the core recovery. ·    Except for drillhole LV04, custom-made packer bits provided by Big Bear were used to obtain brine samples. ·    Drillholes LV01, LV02 and LV04 were cased with 3" PVC and silica gravel. LV03 was not cased due to well collapse and tool entrapment. ·    Wells LV05 and LV06 were drilled using the flooded reverse drilling method with a 14 ¾ inch diameter to their final depths. Both wells were cased with 8-inch PVC and gravel pack. ·    Diamond drillholes LVM05a and LVM06c were drilled with a HQ3 diameter from surface to the final depth. LVM05b was drilled with Tricone 3 7/8" diameter from land surface to 41.5 m. ·    Diamond drillhole LV07 was drilled with PQ3 diameter from land surface to 300 m, and with HQ3 diameter from 300 to 650 m. ·    Diamond drillhole LV11 was drilled with PQ3 diameter from land surface to 254 m with no recovery in the first 50 meters, and it was drilled with HQ3 diameter from 254 to 412.85 m. Development operations ·    After PVC casing and silica gravel installation took place at the exploration wells, a development process was undertaken to ensure clean aquifer water was available during sampling. The well development included injection of a hypochlorite solution to break the drilling additives, and purging via airlifting of a minimum three well volumes was undertaken to clean the cased well from drilling mud. ·    The developing process was made using a small rig, a high-pressure compressor and 2-inch threaded PVC that can be coupled to reach any depth. The purging/cleaning operation was made from top to bottom, injecting air with a hose inside the 2-inch

		PVC and "suctioning" the water to emulate a reverse circulation (airlift) system.
Drill sample recovery	·    Method of recording and assessing core and chip sample recoveries and results assessed. ·    Measures taken to maximise sample recovery and ensure representative nature of the samples. ·    Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	·    Diamond core recovery was ensured by direct supervision and continuous geological logging in the field. ·    For wells drilled using the flooded reverse drilling method, drill cuttings were collected in 10 kg sample bags for geological logging and tests purposes. Direct supervision and continuous geological logging were applied to ensure reliable recovery and descriptions
Logging	·    Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. ·    Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. ·    The total length and percentage of the relevant intersections logged.	·    Geological logging took place continuously during drilling in the field. Descriptions were done by CleanTech and M&A. ·    Logging forms were prepared prior to field work and were used to ensure the same information and style was used regardless of the field geologist..
Sub-sampling techniques and sample preparation	·    If core, whether cut or sawn and whether quarter, half or all core taken. ·    If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. ·    For all sample types, the nature, quality and appropriateness of the sample preparation technique. ·    Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. ·    Measures taken to ensure that the sampling is representative of the in situ material collected,	·      During the brine batch preparation process, the samples were transferred to new sampling bottles. Quality control samples, including standards (internal standards composed of a known stable brine), duplicates, and blank samples (distilled water) were randomly included in the batch. After quality control sample insertion, all samples were re- numbered before submitting to laboratory. Before transferring each sample, the materials used for the transfer were flushed with distilled water and were then shaken to remove water excess, avoiding contamination

	including for instance results for field duplicate/second-half sampling. ·    Whether sample sizes are appropriate to the grain size of the material being sampled.
Quality of assay data and laboratory tests	·    The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. ·    For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. ·    Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	·      Brine samples were assayed by ALS Life Science Chile laboratory (ALS), for Li, K, B, Mg, Ca, Cu, and Na using the ICP-OES method described on QWI- IO-ICP-OES- 01 Edition A, Modification 0 EPA 3005A; EPA 200.2.
		·      For density measurements, the method described by Thompson and Troeh Y "Los suelos y su fertilidad." 2002. Editorial Reverté S.A. Cuarta Edición. Págs.75-85, was used.
		·      Chlorine determination was done based on Standard Methods for the Examination of Water and Wastewater, 23rd Edition 2017. Método 4500-Cl-B QWI-IO-Cl-01 Emisión B, mod. 1. SM 4500-Cl- B, 22nd Edition 2012.
		·      Total Dissolved Solid (TDS) determination was done using the method described on INN/SMA SM 2540 C Ed 22, 2012.
		·      Sulfate was analyzed according to the method described in INN/SMA SM 4500 SO4-D Ed 22, 2012.
		·      Duplicates were obtained randomly during brine sampling. Also, blanks (distilled water) and standards were randomly inserted during the laboratory batch preparation.
		·      The 2022 standards were prepared by the Universidad Católica del Norte, Chile using a known stable brine. Standard nominal grade was calculated in a round-robin process that included four laboratories. The ALS laboratory was validated during the round-robin process.
		·      Check samples composed by standards, duplicates, and blanks were inserted at a rate of one for each 20 original samples during the year 2022.
		·      After the year 2023, quality control samples were inserted at a rate of one every 10 original samples. For the 2023 QA/QC process, a new set of standards was internally prepared using 200 liters of

brine obtained from well LV02 during the development process. Standard nominal lithium grade was calculated in a round-robin process that included four laboratories. ·      For the 2024 sampling campaign, duplicates, standards, and blanks were utilized during brine sampling and were submitted for analysis. Standards for the 2024 campaign were prepared in the University of Antofagasta. Quality control samples were inserted at a rate of approximately one every 10 original samples. Geophysics: ·      To determine the lake bathymetry, a Garmin Echomap CV44 and Eco Probe CV20-TM Garmin were used. The equipment has a resolution of 0.3 ft and maximum depth measurement of 2,900 ft. The bathymetry data was calibrated using a density of 1.14 g/cm3. ·      For the TEM geophysical survey, a Zonge multipurpose digital receiver model GDP-32 and TEM transmitter model ZT-30 were used. ·      For the first survey campaign in May 2021, a coincident transmission/reception loop was utilized with 11 lines and a 400 m separation. 167 stations where designated with a 100x100 m2 loop and four stations with a 200x200 m2 loop; a survey depth of 300 m and 400 m was reached, respectively. ·      For the second TEM geophysical survey in March 2022, 32 TEM stations were surveyed which utilized six lines and a 400 m separation. A coincident loop Tx=Rx of 200 x 200 m2 allowed for the investigation to a depth of 400 m. ·      For the third TEM geophysical survey in January 2023, 14 TEM stations were surveyed with two lines and a 400 m separation. A coincident loop Tx=Rx of 200x200 m2 allowed for investigation to a depth of 400 m. ·      The equipment used for the gravity survey was a Scintrex portable digital model CG-5 Autograv, "microgravity meter", with a 0.001 mGal resolution as well as a tidal, temperature, pressure, and automatic leveling correction system.

		·      The topographic data measured during the gravity survey was acquired with a double frequency differential positioning equipment, brand CHC NAV, model I-80 GNSS, that consists of two synchronized instruments, the first of which was fixed at a known topographic station, and the other that is mobile through the surveyed gravimetric stations. ·      In January 2023, a gravity survey was made consisting of 111 stations, with a separation of 200 m to 300 m, and arrangement through four lines around the lagoon area.
Verification of sampling and assaying	·    The verification of significant intersections by either independent or alternative company personnel. ·    The use of twinned holes. ·    Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. ·    Discuss any adjustment to assay data.	·    The assay data was verified by M&A and C. Feddersen based on the assay certificates. ·    Data from bathymetry and geophysics was used as delivered by Servicios Geológicos Geodatos SAIC. ·    Geological logs were managed by the geology contractor GEOMIN and were checked by the Competent Persons. ·    Brine samples batches were prepared personally by the competent person, JCP Ltda., Geomin SpA or according to Competent Person's instructions. All data was stored in Excel files.
Location of data points	·    Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. ·    Specification of the grid system used. ·    Quality and adequacy of topographic control.	·    Sample coordinates were obtained with a non- differential hand-held GPS unit. ·    The bathymetry coordinates in Laguna Verde were obtained by a Thales Navigation differential GPS system, which consists of two GPS ProMark3 devices designed to work in geodesic, cinematic, and static modes of high precision, where one of the instruments was installed as a base station and the other on board of the craft. ·    The TEM geophysical survey coordinates were obtained with a non-differential hand-held GPS unit. ·    Drillhole collars were obtained with a non-differential hand-held GPS unit. Positions were verified by the mining concession field markings. ·    Gravity stations were located with a double frequency differential positioning equipment, brand CHC NAV, model I-80 GNSS, that consists of two synchronized pieces of equipment, one fixed at a known

		topographic station, and the other mobile at the surveyed gravimetric stations. ·    The coordinate system is UTM, Datum WGS84 Zone 19J. ·    Topographic control is not considered critical as the lagoon and its surroundings are generally flat lying and the samples were definitively obtained from the lagoon.
Data spacing and distribution	·    Data spacing for reporting of Exploration Results. ·    Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. ·    Whether sample compositing has been applied.	·    The geochemical lagoon sample spacing was approximately 800 m, covering the entire lagoon area. ·    Packer brine samples were taken vertically every 18 m. ·    PVC bailer samples (disposable and electric) were taken vertically every 6 m. ·    For bathymetry, two grids were used, one of 400 m and the other of 200 m in areas where the perimeter has more curves. ·    For TEM geophysical surveys, the distance between stations was 400 m. ·    For the gravimetric survey, the distance between stations was 200 - 300 m. ·    The author believes that the data spacing and distribution are sufficient to establish the degree of geological and grade continuity appropriate for the Resource Estimate.
Orientation of data in relation to geological structure	·    Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. ·    If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling	·    The lagoon in Laguna Verde is a free water body and no mineralized structures are expected in the sub- surface deposits

	bias, this should be assessed and reported if material.
Sample security	·    The measures taken to ensure sample security.	·    All brine samples were marked and kept on site before transporting them to the Copiapó city warehouse where the laboratory sample batch was prepared and stored in sealed plastic boxes. Subsequently, the Laguna Verde samples were sent via courier to the ALS laboratory in Antofagasta. The transport of samples was directly supervised by the Competent Person. ·    ALS laboratory personnel reported that the samples were received without any problem or disturbance.
Audits or reviews	·    The results of any audits or reviews of sampling techniques and data.	·    The assay data was verified by M&A and C. Feddersen against the assay certificates. ·      The July 2021 JORC technical report was reviewed by Montgomery & Associates Vice President and CP Michael Rosko, MS PG, SME Registered Member #4064687. In the report, he concludes that "The bulk of the information for the Laguna Verde exploration work and resulting initial lithium resource estimate was summarized Feddersen in 2021. Overall, the CP agrees that industry-standard methods were used, and that the initial lithium resource estimate is reasonable based on the information available". ·      The September 2022 JORC Report Laguna Verde Updated Resource Estimation Report, and data acquisition and QA/QC protocols were audited on October, 2022 by Don Hains, P. Geo. from Hains Engineering Company Limited. ·      Hains concluded that "The overall QA/QC procedures employed by CleanTech are well documented and the exploration data collected and analysed in a comprehensive manner. There are no significant short comings in the overall programme." ·      With respect to the exploration program, Hains stated that "the overall exploration program has been well designed and well executed. Field work appears to have been well managed, with excellent data collection. The drill pads have been restored to a very high standard. The TEM geophysical work has been useful in defining the extensional limits of the salar at Laguna Verde". ·      With respect to specific yield, Hains stated that

"RBRC test work at Danial B. Stevens Associates has been well done. It is recommended obtaining specific yield data using a second method such as centrifuge, nitrogen permeation or NMR. The available RBRC data indicates an average Sy value of 5.6%. This is a significant decrease from the previously estimated value of approximately 11%. The implications of the lower RBRC value in terms of the overall resource estimate should be carefully evaluated". ·      Several recommendations were made by Mr. Hains in his report to improve the QA/QC protocols, data acquisition, assays, presentation, and storage. His recommendations have been considered and included in the exploration work schedule since October 2022.

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	Commentary
Mineral tenement and land tenure status	·    Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. ·    The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	·    In Laguna Verde, CleanTech, through Atacama Salt Lakes SpA, has 66 pedimentos constituidos which cover an area of 17,200 hectares, 7 solicitudes de mensura which cover an area of 682 hectares, and 35 pertenencias which cover an area of 3,860 hectares. CleanTech also has additional pedimentos en trámite. Drilling and sampling for lithium can occur where the CleanTech has preferential licences, which covers a majority of their concessions. ·    All concession acquisition costs and taxes have been reportedly fully paid by CleanTech, and there are no claims or liens against them. ·    In Laguna Verde, CleanTech is also in the application process for a Contrato Especial de Operation de Litio (CEOL) from the Chilean Government, which would grant them the sole right to explore and exploit lithium in the basin. The current extent of the CEOL is referential and could be subject to change, however it is expected to cover a large portion of the basin. CleanTech has confirmed it is confident in its CEOL application for Laguna Verde, given the extensive work programmes CleanTech has carried out over the past 2-3 years.
Exploration done by other parties	·    Acknowledgment and appraisal of exploration by other parties.	·    In Laguna Verde, exploration work has also been done by Pan American Lithium and Wealth Minerals Ltda.
Geology	·    Deposit type, geological setting and style of mineralization.	·    Laguna Verde is a hypersaline lagoon that is classified as an immature clastic salar. The deposit is composed of a surface brine resource, including the brine water volume of the surface lagoon. The sub- surface resource formed by brine water hosted in volcano-clastic sediments that lie beneath the lagoon.
Drill hole Information	·    A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: o  easting and northing of the drill	·    The following drillhole are in the WGS84 zone 19S coordinate system: ·    LV01 E549,432 N7,027,088 ELEV 4,429 m a.s.l. Azimuth 0°, dip -90°, Length 474 m

	hole collar o  elevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collar o  dip and azimuth of the hole o  down hole length and interception depth o  hole length. ·    If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	·    LV02 E 553,992 N 7,024,396 ELEV 4,354 m a.s.l. Azimuth 0°, dip -90°, Length 339.4 m ·    LV03 E 549,980 N 7,028,434 ELEV 4,402 m a.s.l. Azimuth 120°, dip -60°, Length 547.5 m ·    LV04 E 556,826 N 7,024,390 ELEV 4,350 m a.s.l. Azimuth 0°, dip -90°, Length 311 m ·    LV05 E 550,972 N 7,027,908 ELEV 4,355 m a.s.l. Azimuth 0°, dip -90°, Length 434.6 m ·    LV06 E 555,912 N 7,026,004 ELEV 4,335 m a.s.l. Azimuth 0°, dip -90°, Length 405 m ·    LVM05a E 550,921 N 7,027,908 ELEV 4,355 m a.s.l. Azimuth 0°, dip -90°, Length 221.5 m ·    LVM05b E 550,946 N 7,027,951 ELEV 4,355 m a.s.l. Azimuth 0°, dip -90°, Length 41.5 m ·    LVM06c E 555,959 N 7,026,032 ELEV 4,335 m a.s.l. Azimuth 0°, dip -90°, Length 40 m ·    LV07 E 552,561 N 7,025,296 ELEV 4,345 m a.s.l. Azimuth 0°, dip -90°, Length 650 m ·    LV11 E 555,582 N 7,024,793 ELEV 4,345 m a.s.l. Azimuth 0°, dip -90°, Length 412.8 m
Data aggregation methods	·    In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. ·    Where aggregate intercepts incorporate short lengths of high	·    For the surface brine resource, no low-grade cut-off or high-grade capping has been implemented due to the consistent nature of the brine assay data. ·    For the sub-surface resource, no low-grade cut-off or high-grade capping has been implemented.

	grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. ·    The assumptions used for any reporting of metal equivalent values should be clearly stated.
Relationship between mineralization widths and intercept lengths	·    These relationships are particularly important in the reporting of Exploration Results. ·    If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. ·    If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg 'down hole length, true width not known').	·    In Laguna Verde, the relationship between aquifer widths and intercept lengths are direct with vertical wells, however LV03 was inclined with a dip of -60°.
Diagrams	·    Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.
		·      Locations of the Laguna Verde Exploration Drillholes

		·      Hydrogeological Cross Sections for the Laguna Verde Area
Balanced reporting	·    Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	·    Reported results have not been filtered based on the exclusion of low or high grades.
Other substantive exploration data	·    Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples - size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	·    Pumping tests were conducted at wells LV05 and LV06. ·    A 50 hp submergible electric pump, and piping with flowmeters were used for the pump tests. The tests consisted of a variable rate pumping to verify the aquifer and pump capacity, as well as subsequently constant rate (48-hour to 7-day) pumping tests to obtain aquifer parameters and monitor observed water levels and the extracted brine chemistry. ·   In LV05, the pump was installed at 156 m and in LV06, at 150 m.
Further work	·    The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). ·    Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	·      Exploration drilling and testing will continue in 2025. Areas of additional exploration will include the western and northern/northeastern portion of the current property concessions. A future long-term pumping and reinjection test is also planned in 2025. .

Section 3 Estimation and Reporting of Mineral Resources

(Criteria listed in section 1, and where relevant in section 2, also apply to this section.)

Criteria	JORC Code explanation	Commentary
Database integrity	·    Measures taken to ensure that data has not been corrupted by, for example, transcription or keying errors, between its initial collection and its use for Mineral Resource estimation purposes. ·    Data validation procedures used.	·    For the previous resource estimate (Feddersen, 2023), all databases were built from original data by Competent Person C. Feddersen and were checked by project personnel. ·    For the resource estimate detailed in this report, databases were reviewed by M&A staff and the CPs.
Site visits	·    Comment on any site visits undertaken by the Competent Person and the outcome of those visits. ·    If no site visits have been undertaken indicate why this is the case.	·    A site visit was undertaken by Competent Person C. Feddersen from June 2nd to June 4th, 2021. The outcome of the visit was a general geological review and the lagoon water brine geochemical sampling that led to the July 2021 JORC Technical Report. ·    Competent Person M. Rosko conducted a site visit in October 2021 to review the exploration activities. ·    The January to May 2022 drilling campaign was continually supervised by the Competent Person C. Feddersen, that led to the September 2022 updated JORC Technical Report. ·    The October 2022 to May 2023 drilling campaign was also supervised by Competent Person C. Feddersen. ·    The 2024 campaign was supervised by M&A Competent Persons and staff.
Geological interpretation	·    Confidence in (or conversely, the uncertainty of ) the geological interpretation of the mineral deposit. ·    Nature of the data used and of any assumptions made. ·    The effect, if any, of alternative interpretations on Mineral Resource estimation. ·    The use of geology in guiding	·    For the surface brine resource, an average lithium grade was used for the entire surface water body based on the consistent values obtained; thus, there is a high certainty. ·    For the sub-surface resource, the geological interpretation was made based on the TEM and gravity surveys conducted by Geodatos. The lithological interpretation was confirmed by the January - May 2022 diamond drillhole campaign

	and controlling Mineral Resource estimation. ·    The factors affecting continuity both of grade and geology.	(LV01 to LV04), December 2022 - May 2023 drillhole campaign (LV05 & LV06), and 2024 campaign (LV07 & LV11). ·    Low resistivities are associated with volcaniclastic sediments saturated in brines, but also with tuff, very fine sediments, or clays. The direct relationship between the low resistivity layer with the overlying hypersaline lagoon raises the confidence that the low resistivities are associated with brines. ·    Drillholes confirm the geological interpretations.
Dimensions	·    The extent and variability of the Mineral Resource expressed as length (along strike or otherwise), plan width, and depth below surface to the upper and lower limits of the Mineral Resource.	·    For the surface brine resource, the lagoon dimensions are 14,682,408 m2 of area with depths ranging from 0 m to 7.18m with an average depth of 4.05 m. ·    The sub-surface brine resource is a horizontal lens closely restricted to the lagoon perimeter with an area of approximately 55 km2 and depths of more than 400 m, from approximately 4,309 m a.s.l. to the deepest exploration well (LV07; 650 m deep).
Estimation and modelling techniques	·    The nature and appropriateness of the estimation technique(s) applied and key assumptions, including treatment of extreme grade values, domaining, interpolation parameters and maximum distance of extrapolation from data points. If a computer assisted estimation method was chosen include a description of computer software and parameters used. ·    The availability of check estimates, previous estimates and/or mine production records and whether the Mineral Resource estimate takes appropriate account of such data. ·    The assumptions made regarding recovery of by-	·      For the surface brine resource, the surface lake brine water volume is directly obtained by the bathymetry study detailed on Section 4.2. Lithium sample values are in general homogeneously distributed along the lagoon, thus the lithium content in the lake was not estimated via kriging or another geostatistical method. The use of the total samples average value 246 mg/l was used for the surface brine resource estimate. ·      The subsurface resource was updated using a block model in the Leapfrog software. During the resource estimation process, the CPs considered the Canadian Institute of Mining Best Practice for Reporting of Lithium Brine Resources and Reserves as well as the Houston et al. guidelines for brine deposits (The Evaluation of Brine Prospects and the Requirement for Modifications to Filing Standards). ·      Leapfrog is an industry-standard software program which uses a 3-D implicit modeling approach;

	products. ·    Estimation of deleterious elements or other non-grade variables of economic significance (eg sulphur for acid mine drainage characterisation). ·    In the case of block model interpolation, the block size in relation to the average sample spacing and the search employed. ·    Any assumptions behind modelling of selective mining units. ·    Any assumptions about correlation between variables. ·    Description of how the geological interpretation was used to control the resource estimates. ·    Discussion of basis for using or not using grade cutting or capping. ·    The process of validation, the checking process used, the comparison of model data to drill hole data, and use of reconciliation data if available.	with Leapfrog Geo, the geological model was created, and subsequently, the resource block model construction and mass calculations were undertaken using the Edge extension. Considering the horizontal and vertical spacing of obtained field samples, the block model discretization was 150 m by 150 m (horizontal spacing), with a vertical spacing of 5 m, and the total number of blocks corresponds to 1,926,123. ·      Lithium brine concentration results obtained from sampling were utilized as an input for the resource block model; original ALS results from a variety of sampling methods (including packer, airlift, and pumping tests) were used for a majority of the wells. Packer samples were prioritized for the resource estimate, as they result in depth-specific concentrations, and other methods were used where packer samples were not available. ·      Drainable porosity values for the hydrogeologic units in Laguna Verde were estimated based on the results of Daniel B. Stephens & Associates, Inc. (DBS&A) laboratory (LV01, LV02, LV03 and LV04) and GSA Laboratory (LV07 and LV11) testing, and their reasonableness was confirmed based on lithology of the unit. ·      Prior to the resource block modeling, an exploratory data analysis (EDA) phase was undertaken for lithium concentrations to identify trends such as univariate statistics and histograms, box plots, and spatial correlations. ·      Ordinary Kriging was employed for the interpolation of lithium concentrations within the subsurface block model. ·      The resource block model was validated by visual inspection and comparison of the measured and block model concentrations. Swath plots were also utilized.
Moisture	·    Whether the tonnages are estimated on a dry basis or with natural moisture, and the method of determination of the moisture content.	·    Moisture content is not relevant for the estimation of brine resources.
Cut-off parameters	·    The basis of the adopted cut- off grade(s) or quality parameters applied.	·    A cut-off grade of 100 mg/L was applied based on the Laguna Verde Scoping Study capital expenditure and operating expenses. Only

		blocks with interpolated lithium grades greater than the applied cut-off grade (100 mg/L) were considered for the resource estimate.
Mining factors or assumptions	·    Assumptions made regarding possible mining methods, minimum mining dimensions and internal (or, if applicable, external) mining dilution. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider potential mining methods, but the assumptions made regarding mining methods and parameters when estimating Mineral Resources may not always be rigorous. Where this is the case, this should be reported with an explanation of the basis of the mining assumptions made.	·    Mining will be undertaken by pumping brine from vertical production wells and re-injection of spent brine will subsequently occur back in the aquifer. ·      Pumping tests conducted to date support individual well flow rates of up to 15 L/s.
Metallurgical factors or assumptions	·    The basis for assumptions or predictions regarding metallurgical amenability. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider potential metallurgical methods, but the assumptions regarding metallurgical treatment processes and parameters made when reporting Mineral Resources may not always be rigorous. Where this is the case, this should be reported with an explanation of the basis of the metallurgical assumptions made.	·    The metallurgical capacity of lithium recovery in the process has been estimated at 90% to obtain battery grade lithium carbonate. ·    The planned process for obtaining lithium carbonate considers the following stages: o  The lithium is obtained using selective adsorption of lithium-ion from Laguna Verde brine using the DLE process. o  The spent solution (without lithium) will be reinjected back into the Laguna Verde aquifer. o  The DLE process allows impurity removal waste to be minimal. o  The diluted lithium solution recovered from the DLE process is concentrated utilizing reverse osmosis water removal. The removed water is recovered and returned to the process to minimize the water consumption requirements. o  Ion exchange stages remove minor impurities such as magnesium, calcium, and boron to obtain a clean lithium solution. o  Lithium carbonate is obtained with a saturated soda ash solution to precipitate it in the carbonation stage. o  The lithium carbonate obtained is washed with

		ultra-pure water to obtain battery grade product with minimum impurities. o  From the carbonation process, a remaining solution (mother liquor) is obtained, which is treated to concentration utilizing evaporators to recirculate in the carbonation process and ensure the greatest possible recovery of lithium. The removed water is recovered and reintegrated into the process. ·    The selected DLE process has been tested by Beyond Lithium LLC at its facilities in the city of Salta, Argentina. The stages of removal of impurities and carbonation have been tested, obtaining a representative sample. The sample was analyzed in Germany by the laboratory Dorfner Anzaplan showing 99.9% pure Li2CO3. ·    The process has been modelled by Ad infinitum using the SysCAD simulation platform and their AQSOL thermodynamic property package. With the model, simulations of the process were made to obtain the appropriate mass balances.
Environmen- tal factors or assumptions	·    Assumptions made regarding possible waste and process residue disposal options. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider the potential environmental impacts of the mining and processing operation. While at this stage the determination of potential environmental impacts, particularly for a greenfields project, may not always be well advanced, the status of early consideration of these potential environmental impacts should be reported. Where these aspects have not been considered this should be reported with an explanation of the environmental assumptions made.	·    The main environmental impact that could occur at Laguna Verde is a reduction of the surface water features due to brine pumping, however reinjection will be aimed to sustain the surface water features and limit impacts from production pumping. Other potential environmental factors may be associated with the main plant installation.
Bulk density	·    Whether assumed or determined. If assumed, the

	basis for the assumptions. If determined, the method used, whether wet or dry, the frequency of the measurements, the nature, size and representativeness of the samples. ·    The bulk density for bulk material must have been measured by methods that adequately account for void spaces (vugs, porosity, etc), moisture and differences between rock and alteration zones within the deposit. ·    Discuss assumptions for bulk density estimates used in the evaluation process of the different materials.	·    Bulk density is not relevant to brine resource estimation.
Classification	·    The basis for the classification of the Mineral Resources into varying confidence categories. ·    Whether appropriate account has been taken of all relevant factors (ie relative confidence in tonnage/grade estimations, reliability of input data, confidence in continuity of geology and metal values, quality, quantity and distribution of the data). ·    Whether the result appropriately reflects the Competent Person's view of the deposit.	·    The preferential concession area used for the resource calculation, which corresponds to licenses held by Cleantech Litihum or in process as the preferential holder (with no conflicting applications or concessions from other mining companies). The area outside the preferential licences that could be converted to CleanTech's control, based on the CEOL award, was considered as Potential Upside. ·    The areal extent of the resource categories was largely based on the suggestions of Houston et al. (The Evaluation of Brine Prospects and the Requirement for Modifications to Filing Standards) for immature salt flats: o  Measured resources were limited to within 1.25 km from the exploration well o  Indicated resources were limited to within 2.5 km from the exploration well o  Inferred resources were limited to within 5 km from the exploration well ·      The determination of the Indicated resource areas was dependent on the availability of depth-specific brine analyses, drainable porosity measurements and QA/QC. Differentiation between these areas and Measured areas was largely dependent on the well spacing, amount and reliability of field data, pumping test results, and overall lithologic and grade continuity between wells. ·      An extension of the Inferred resources to 5 km is supported by the conducted geophysics which indicates probable brine in sediments underlying the

		young volcanic outcops surrounding the lake. Furthermore, inclusion of the lower volcanic rock unit is supported by the following: (i) it was possible to obtain packer samples in the deepest portion of LV07; (ii) the density contrast used to set the upper contact of the lower volcanic rock (-0.35 gr/cc) was intermediate and not the deepest density contrast; (iii) conceptually, Laguna Verde is found in a tectonically active region with fractures in the host rock, as indicated by hydrothermal activity along the eastern side of the lake.
Audits or reviews	·    The results of any audits or reviews of Mineral Resource estimates.	·      The July 2021 JORC technical report were reviewed by Montgomery & Associates Vice President Michael Rosko, MS PG SME Registered Member #4064687. ·      In the report he concludes that "The bulk of the information for the Laguna Verde exploration work and resulting initial lithium resource estimate was summarized by Feddersen (2021). Overall, the CP agrees that industry-standard methods were used, and that the initial lithium resource estimate is reasonable based on the information available". ·      The September 2022 JORC Report Laguna Verde Updated Resource Estimate, and data acquisition and QA/QC protocols were audited on October 2022 by Don Hains, P. Geo. from Hains Engineering Company Limited. ·      In the report, Hains concludes that "The overall QA/QC procedures employed by CleanTech are well documented and the exploration data collected and analysed in a comprehensive manner. There are no significant short comings in the overall programme". ·      With respect to the exploration program Hains' comments are "The overall exploration program has been well designed and well executed. Field work appears to have been well managed, with excellent data collection. The drill pads have been restored to a very high standard. The TEM geophysical work has been useful in defining the extensional limits of the salar at Laguna Verde". ·      With respect to the specific yield estimates, Hains' comments are "RBRC test work at Daniel B. Stevens Associates has been well done. It is recommended obtaining specific yield data using a second method

		such as centrifuge, nitrogen permeation or NMR. The available RBRC data indicates an average Sy value of 5.6%. This is a significant decrease from the previously estimated value of approximately 11%. The implications of the lower RBRC value in terms of the overall resource estimate should be carefully evaluated". ·      Several recommendations were made by Mr. Hains in his report to improve the QA/QC protocols, data acquisition, assays, presentation and storage. His recommendations have been considered and included in the exploration work schedule since October 2022.
Discussion of relative accuracy/ confidence	·    Where appropriate a statement of the relative accuracy and confidence level in the Mineral Resource estimate using an approach or procedure deemed appropriate by the Competent Person. For example, the application of statistical or geostatistical procedures to quantify the relative accuracy of the resource within stated confidence limits, or, if such an approach is not deemed appropriate, a qualitative discussion of the factors that could affect the relative accuracy and confidence of the estimate. ·    The statement should specify whether it relates to global or local estimates, and, if local, state the relevant tonnages, which should be relevant to technical and economic evaluation. Documentation should include assumptions made and the procedures used. ·    These statements of relative accuracy and confidence of the estimate should be compared with production data, where available.	·    The estimated tonnage represents the in-situ brine with no recovery factor applied. It will not be possible to extract all the contained brine by pumping from production wells. The amount which can be extracted depends on many factors including the permeability of the sediments, the specific yield, and the recharge dynamics of the aquifers. ·      No production data is available yet for comparison. ·      Potential sources of uncertainty related the resource estimate include: ·      Potential permitting restrictions, including the approval of the CEOL extension and environmental limitations related to eventual extraction of the surface brine resource in the lake. ·      The modeled concentration distribution and lower lithium grades associated with hydrothermal upwelling to the east of Laguna Verde. ·      The assigned drainable porosity of the lower volcanic rock (1%), which is based on limited core testing of that unit; additional deep exploration and sampling would help resolve uncertainty regarding the Inferred Resource area at depth.

 

END