LiTHOS Forecasts Significant Upcoming Milestones

Rhea-AI Summary

LiTHOS Group Ltd. announces successful completion of lithium brine testing using its AcQUA™ process, reducing impurities to non-detect levels. The company has secured contracts with top lithium producers globally and is set to validate pre-treatment and extraction for oil and gas producers in 2024. Additional customers have issued purchase orders for testing, with promising results expected in April. LiTHOS is also pursuing new pilot projects to showcase the capabilities of its technology in optimizing mineral recovery.

DENVER, March 6, 2024 /PRNewswire/ - LiTHOS Group Ltd. ("LiTHOS" or the "Company") (CBOE CA: LITS) (OTCQB: LITSF) (FSE: YU8) (WKN: A3ES4Q) is pleased to provide this update on its upcoming milestones.

LiTHOS is please to announce it has completed testing of several thousand litres of lithium field brine from current contacted lithium producers. Lithos' proprietary, patent-pending AcQUA™ process— which has been used for 7 years to clean oil brines in the USA—can remove impurities in lithium brines to non-detect levels.  The removal of impurities can greatly reduce time, cost, water use and environmental footprint of large lithium evaporation ponds. LiTHOS will finalize and deliver its reports to its clients, providing transparency on the AcQUA™ process to remove these impurities, creating a high-grade lithium brine in a fraction of the time of conventional processing." says Lithos Group CEO Scott Taylor. "We're not just giving the customer a result, as we look at the actual molecular mobility and the perm selectivity of the many molecules (elements) in the brine."

"A major strength of AcQUA™ is how selective it is—we can show how the different elements--the waste elements and the valuable elements—are moving through our system and show the client that progression in actual data in a quantitative manner. We run that test 5 to 10 times at each step to optimize the yield and the overall economics for our customers. We take frequent periodic measurements of the fluid chemistry with our in-house testing equipment set-up to find the best operating conditions unique to each reservoir brine."

Lithos now has testing contracts with four of the top lithium producers in the world, who produce more than 80% of the western world's lithium today. Lithos is also scheduled to validate pre-treatment and lithium extraction for several global oil and gas producers in 2024.

Customer Status 

Two additional customers issued purchase orders for testing and received export approvals and extracted field brines for shipment to our facility in Alabama. Results for these tests are anticipated in April.

We are delivering commercial proposals to no less than six (6) new customers for paid pilot projects. A couple of these new projects will evidence the unique capability of our AcQUA technology to not only optimize the recovery of lithium but also other valuable aqueous minerals such as magnesium and strategic rare earths.

About LiTHOS

Lithium is now among one of the world's most in-demand metals due to aggressive ambitious electrification efforts to limit CO₂ emissions. This global demand is underpinned by the adoption of EV's and the installation of hundreds of gigawatts of intermittent solar power generation capacity requiring partial battery storage solutions.

The Company's mission is to deliver sustainable lithium production without the use of evaporation ponds. AcQUA™ is LiTHOS' patent-pending technology that spans the complete value chain from the conditioning and pre-treatment of raw brines through the DLE phase into the polishing and purification of battery grade lithium feedstock. LiTHOS has two fully operational processing facilities: a 4,000 sq ft lab in Denver, CO and a 55,000 sq ft complex in Bessemer, AL. 

LiTHOS is working under contract with multiple strategic mineral resource owners and processing brines from the largest Salars in Chile and Argentina, and the Smackover reservoir in the Southeastern United States. Our wholly owned subsidiary, Aqueous Resources LLC, is a US Department of Energy grant awardee and a Colorado Advanced Industries grant awardee.

Connect with LiTHOS: Website | Email | LinkedIn

ON BEHALF OF THE BOARD

Scott Taylor - CEO

Forward-Looking Statements: This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian legislation. All statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation, the Company's market position in the industry of sustainable lithium production and increase in the capacity of the Company's facilities. Although the Company believes that such statements are reasonable and reflect expectations of future developments and other factors which management believes to be reasonable and relevant, the Company can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company's facilities will be able to handle the increased demand. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, but are not limited to, the failure of the Company's facilities to handle increased demand and the potential that that Company's market position does not increase as expected. Further, the ongoing labour shortages, inflationary pressures, rising interest rates, the global financial climate and the conflict in Ukraine and surrounding regions are some additional factors that are affecting current economic conditions and increasing economic uncertainty, which may impact the Company's operating performance, financial position and future prospects. Collectively, the potential impacts of this economic environment pose risks that are currently indescribable and immeasurable. Other factors may also adversely affect the future results or performance of the Company, including those risk and concerns more fully described in the Company's annual and quarterly management's discussion and analysis and in other filings made by the Company with Canadian securities regulatory authorities under the Company's profile at www.sedarplus.ca. Readers are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly, are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. These forward-looking statements are made as of the date of this news release and, unless required by applicable law, the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in these forward-looking statements.

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SOURCE Lithos Group

FAQ

What process did LiTHOS use to reduce impurities in lithium brines?

LiTHOS used its proprietary AcQUA™ process to reduce impurities in lithium brines to non-detect levels.

How many top lithium producers has LiTHOS secured testing contracts with?

LiTHOS has secured testing contracts with four of the top lithium producers globally.

What are the upcoming milestones for LiTHOS in 2024?

LiTHOS is set to validate pre-treatment and extraction for oil and gas producers in 2024 and deliver results for testing contracts with additional customers in April.

What other valuable minerals can LiTHOS' AcQUA technology optimize recovery for?

LiTHOS' AcQUA technology can optimize recovery not only for lithium but also for other valuable aqueous minerals such as magnesium and strategic rare earths.

Where is LiTHOS' facility located for testing extracted field brines?

LiTHOS' facility for testing extracted field brines is located in Alabama.