LiTHOS Selected for Next Phase in ENAMI';s Direct Lithium Extraction Initiative

Rhea-AI Summary

LiTHOS Group has been selected for the next phase of the Chilean National Mining Company (ENAMI)'s direct lithium extraction project, showcasing its AcQUA™ extraction technology. This selection follows a competitive global Request for Information (RFI), emphasizing environmental stewardship and sustainable mining practices.

VANCOUVER, BC, April 25, 2024 /PRNewswire/ - LiTHOS Group Ltd., ("LiTHOS" or the "Company") (CBOE CA: LITS) (OTCQB: LITSF) (FSE: YU8) (WKN: A3ES4Q) a leader in sustainable lithium production technologies, is pleased to announce its selection for the next phase of the Chilean National Mining Company (ENAMI)'s direct lithium extraction project. This selection follows a competitive global Request for Information (RFI) where LiTHOS showcased the application of its innovative AcQUA™ extraction technology for the High Andean Salt Flats project in the Atacama Region.

ENAMI will evaluate results from laboratory tests with brine samples from the project site with a select few vendors who were invited to ENAMI's technology screening process. The lab testing phase is crucial for assessing the feasibility and effectiveness of LiTHOS's AcQUA™ technology in promoting sustainable lithium extraction practices that can operate in harsh field environments.

This advancement in the RFI process highlights ENAMI's and LiTHOS's commitment to environmental stewardship through the application of technological innovation in the mining sector. The company's proprietary technology, which eliminates the need for traditional evaporation ponds, aligns with Chile's efforts to minimize environmental impacts and enhance resource efficiency.

LiTHOS Technology is honored to contribute to this significant project, which aligns with its strategic objectives and the global movement toward sustainable mining practices.

About ENAMI 

The Chilean National Mining Company (ENAMI) is committed to supporting the growth and development of the Chilean mining industry, particularly among small and medium-sized enterprises, while promoting sustainable and responsible mining practices across the industry. https://www.enami.cl/

About LiTHOS

Lithos Group Ltd. is a mining technology company focused on selective extraction of aqueous minerals. The Company's AcQUA™ technology allows lithium to be extracted from continental brine reservoirs without the need for additional freshwater or any added chemicals or reagents. Lithium is now among the world's most in-demand metals as the world "electrifies" to reduce CO₂ emissions, led by continuing growth in EV sales and the installation of hundreds of gigawatts of intermittent solar power generation capacity requiring partial battery storage solutions.

The Company's mission is to produce sustainable lithium without evaporation ponds. AcQUA™ is LiTHOS's 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 processing facilities: a 4,000 sq ft lab in Denver, CO, and a 55,000 sq ft complex in Bessemer, AL. 

LiTHOS is working with multiple strategic mineral resource owners, including 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. For more information, please get in touch with LiTHOS Investor Relations at 1-877-LITHOS1 / 1-877-548-4671 or via email at info@lithostechnology.com.

Stay up-to-date on LiTHOS developments by joining our online communities through LinkedIn and  X

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 project has LiTHOS been selected for the next phase in with ENAMI?

LiTHOS has been selected for the next phase of the direct lithium extraction project with ENAMI in Chile.

What technology did LiTHOS showcase during the competitive RFI?

LiTHOS showcased its innovative AcQUA™ extraction technology during the competitive global Request for Information (RFI).

Why is the lab testing phase important for LiTHOS and ENAMI?

The lab testing phase is important for assessing the feasibility and effectiveness of LiTHOS's AcQUA™ technology in promoting sustainable lithium extraction practices in harsh field environments.

How does LiTHOS' technology contribute to environmental stewardship?

LiTHOS' technology eliminates the need for traditional evaporation ponds, aligning with Chile's efforts to minimize environmental impacts and enhance resource efficiency.

What are LiTHOS' strategic objectives in this project?

LiTHOS aims to contribute to the global movement toward sustainable mining practices through its involvement in the ENAMI project.