Volt Lithium Efficiently Installs Area Unit in Permian Basin and Scales-Up Manufacturing Capability to Over 200,000 Litres (1,250 Barrels) per Day

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• Deployed and put in its first proprietary direct lithium extraction (“DLE”) U.S. subject unit (“Area Unit”)
• Commenced function-testing of the Area Unit, paving the best way for first lithium manufacturing
• Scaled-up Area Unit by greater than two occasions to course of over 200,000 litres (1,250 barrels) of oilfield brine per day on location in West Texas, USA

CALGARY, Alberta, Aug. 26, 2024 (GLOBE NEWSWIRE) — Volt Lithium Corp. (TSXV: VLT | OTCQB: VLTLF I FSE: I2D) (“Volt” or the “Firm“) declares the profitable deployment, set up and commenced function-testing of its first Area Unit positioned within the Permian Basin in Texas, paving the best way for first lithium manufacturing. The Firm can be happy to announce that the Area Unit might be able to processing over 200,000¹ litres (1,250 barrels) of oilfield brine per day, representing a two-times scale-up from Volt’s earlier processing capabilities of 96,000¹ litres (600 barrels) per day, as introduced in its July 17, 2024, press launch.

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“Our workforce is thrilled to share that we have now efficiently deployed, put in and commenced function-testing of the Area Unit on-site at our strategic companion’s Permian Basin location in West Texas. The introduction of this preliminary Area Unit marks the achievement of one other crucial milestone of our technique to develop into one among North America’s first business producers of lithium from oilfield brine,” commented Alex Wylie, President & CEO of Volt Lithium. “Volt has reached a crucial inflection level with this achievement and is properly positioned to start DLE operations within the subject throughout Q3 2024, which aligns with our earlier steerage. We stay up for offering updates as we proceed to progress.”

U.S. Area Unit and Future Industrial Operations

Volt deployed and accomplished set up of its Area Unit within the Permian Basin in August, 2024, which represents a 1:83 scale to future business manufacturing. Following the set up, the Firm commenced function-testing of the Area Unit, positioning Volt on a transparent path to full-scale commercialization within the near-term.  

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Constructing on the success of Volt’s earlier scale-up efforts at its subject simulation centre in Calgary, Alberta (the “Area Simulation Centre”), the Firm developed this subsequent era Area Unit, able to processing in extra of 200,000 litres (1,250 barrels) per day of oilfield brine. Volt’s Area Unit is modular and offers the Firm with the power to cost-effectively and effectively scale-up additional to course of business ranges of brine by the next strategies:

            a)   Including modules to extend processing capability;

            b)   Lowering lithium extraction time to extend volumes; and

            c)   Implementing bigger extraction modules.

Based mostly on the detailed historic modelling accomplished by the Firm’s engineering workforce, Volt will regularly scale-up its preliminary subject unit over the following 12 months to attain business manufacturing of 100,000 barrels per day, positioning the Firm as a near-to-market, low-cost and full-scale business producer.

Volt’s enterprise mannequin, technique and talent to execute present clear aggressive benefits, whatever the macro enterprise surroundings. Volt’s phased scale-up strategy, intensive testing at its Area Simulation Centre and strategic funding partnership, in addition to its low working value mannequin, positions the Firm to mitigate mission execution threat whereas accelerating the timeline to full-scale commercialization. As well as, this strategy minimizes Volt’s capital in danger and permits for added validation of the Firm’s proprietary DLE know-how previous to full-scale commercialization.

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Possibility Grant

Volt declares the grant of an combination of 500,000 choices (the “Choices“) to new staff of the Firm to buy 500,000 commons shares (the “Shares”) within the capital of the Firm pursuant to Volt’s inventory possibility plan. The Choices vest over a six month interval and are exercisable at $0.44 per Share for a interval of 4 years from the date of grant, expiring on August 25, 2028.

These grants symbolize compensation to the to the people and consultants for his or her respective service to the Firm and as an incentive mechanism to foster and align the curiosity of such individuals within the long-term success of Volt.

Certified Individual’s Assertion

Scientific and technical data contained on this press launch has been reviewed and authorized by Doug Ashton, P.Eng, and Meghan Klein, P.Eng of Sproule Associates Restricted, every of whom are certified individuals inside the which means of Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Initiatives (“NI 43-101”). Mr. Ashton and Ms. Klein consent to the inclusion of the info within the kind and context during which it seems.

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About Volt

Volt is a lithium improvement and know-how firm aiming to be one among North America’s first business producers of lithium hydroxide and lithium carbonates from oilfield brine. Our technique is to generate worth for shareholders by leveraging administration’s hydrocarbon expertise and current infrastructure to extract lithium deposits from current wells, thereby lowering capital prices, decreasing dangers and supporting the world’s clear power transition. With 4 differentiating pillars, and a proprietary Direct Lithium Extraction (“DLE”) know-how and course of, Volt’s progressive strategy to improvement is targeted on permitting the very best lithium recoveries with lowest prices, positioning us properly for future commercialization. We’re dedicated to working effectively and with transparency throughout all areas of the enterprise staying sharply targeted on creating long-term, sustainable shareholder worth. Traders and/or different events might join updates in regards to the Firm’s continued progress on its web site: https://voltlithium.com/.

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Contact Info

For Investor Relations inquiries or additional data, please contact:

Alex Wylie, President & CEO                                                        
T: +1.403.830.5811
E: information@voltlithium.com                 

Or

Greg Foofat, Vice President, Investor Relations
T: +1.587.888.5213
E: information@voltlithium.com                                 

Ahead Trying Statements

This information launch consists of sure “forward-looking statements” and “forward-looking data” inside the which means of relevant Canadian securities legal guidelines. When used on this information launch, the phrases “anticipate”, “imagine”, “estimate”, “count on”, “goal”, “plan”, “forecast”, “might”, “will”, “would”, “may”, “schedule” and related phrases or expressions, determine forward-looking statements or data. Statements, apart from statements of historic reality, might represent forward-looking data and embrace, with out limitation, data with respect to the phrases of the operational milestone, Quantity Scale-up. Extraction Time Enhancements and Steady Processing vs Batch Processing, the deployment of the Area Unit within the Permian Basin, the manufacturing of battery grade lithium by the Area Unit, and the business manufacturing of lithium from oilfield brine. With respect to the forward-looking data contained on this press launch, the Firm has made quite a few assumptions. Whereas the Firm considers these assumptions to be affordable, these assumptions are inherently topic to vital uncertainties and contingencies and will show to be incorrect. Moreover, there are recognized and unknown threat elements which may trigger the Firm’s precise outcomes, efficiency or achievements to be materially totally different from any future outcomes, efficiency or achievements expressed or implied by the forward-looking data contained herein together with these recognized threat elements outlined within the Firm’s annual data kind dated February 29, 2024 and (ultimate) brief kind base shelf prospectus dated July 20, 2023. All forward-looking data herein is certified in its entirety by this cautionary assertion, and the Firm disclaims any obligation to revise or replace any such forward-looking data or to publicly announce the results of any revisions to any of the forward-looking data contained herein to mirror future outcomes, occasions or developments, besides as required by legislation.

Neither the TSX Enterprise Change nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts accountability for the adequacy or accuracy of this press launch.

¹ The figures introduced assume steady manufacturing with no downtime for tools upkeep or failure.

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