ROCK TECH LINTHIUM INC - RCKTF STOCK NEWS

Rock Tech Lithium Inc. has commenced construction of its first lithium hydroxide conversion plant in Guben, Germany, marking a significant step in the establishment of a local battery supply chain. The Guben Converter is the first of five planned facilities aimed at addressing the EU's lithium demand, projected to increase significantly by 2030. The plant is set to start commissioning in mid-2025, with production of battery-grade lithium hydroxide expected by early 2026. Strategic partnership with Mercedes-Benz will enhance sustainable battery production in Europe, underscoring Rock Tech’s commitment to eco-friendly operations.

Rock Tech Lithium has successfully obtained the first partial license for its lithium hydroxide conversion plant in Guben, Germany. This milestone, announced on March 8, 2023, allows the company to initiate construction, with groundbreaking scheduled for March 27, 2023. The licensing authority issued this permit following prior permissions in December 2022 and January 2023, enabling construction of non-process buildings and site infrastructure. The Guben project, estimated to cost USD 683 million, aims to meet Europe's rising demand for battery materials, converting spodumene into battery-grade lithium hydroxide. The company plans further submissions for additional permits to progress the project.

Rock Tech Lithium Inc. (TSXV: RCK, OTCQX: RCKTF) has mobilized a diamond drill rig to initiate the first phase of its 2023 exploration drilling campaign at the Georgia Lake lithium project in Ontario. The program aims to expand the existing mineral resources, particularly at the Main Zone North (MZN) and McVittie deposits, with a target of 3,500 meters of drilling. The MZN deposit currently holds the largest resource in the Georgia Lake Pegmatite Field, while the McVittie deposit has an inferred resource of 1Mt at 1.0% Li2O. The company is working towards increasing its total mineral resources in 2023 and 2024, anticipating significant growth.

Rock Tech Lithium Inc. announced positive assay results from its summer 2022 exploration program at the Georgia Lake project in Ontario. The exploration identified three new spodumene-pegmatite prospects: Line 20, Camp 38, and Conway East, with strike-extends ranging from 100 to 500 meters. The project spans 1,042 hectares of mineral leases and 5,686 hectares of claims. Rock Tech plans further trenching in summer 2023 to explore these prospects. General Manager Robert MacDonald expressed optimism about the project's potential, highlighting plans for ongoing exploration and development.

Rock Tech Lithium Inc. (TSXV: RCK, OTCQX: RCKTF) has entered a Memorandum of Understanding with GP Papenburg Entsorgungs Ost GmbH and Schwenk Zement GmbH to enhance the commercial use of by-products from lithium production. The collaboration aims to adopt processes for resource-efficient production and reduce carbon emissions by utilizing alumosilicate from lithium processing in the construction materials sector. The project is supported by the Lithium Institute (ITEL), with expectations of confirming results by the end of 2023. Rock Tech's strategy aligns with its goal of creating a closed-loop lithium production system and reducing waste.

Rock Tech Lithium has received approval for an early start to construction of its lithium converter in Guben, Germany. Commencing initial work in the upcoming weeks, the Guben Converter is expected to produce 24,000 tonnes of battery-grade lithium hydroxide annually starting from 2025. The project, with a projected cost of 650 million euros, has seen over 250,000 working hours and 45 million euros already invested. This converter aims to be the first of its kind in Europe, supporting the growing EV battery supply chain.

Rock Tech Lithium has granted 150,000 stock options to its CFO, Sonja Rossteuscher, effective December 15, 2022. The options have a 6-year term and an exercise price of CAD 2.5 per share. They will vest 25% after one year and the rest monthly over three years. This grant aligns with the company's stock option plan approved in June 2022. Rock Tech aims to produce lithium hydroxide for EV batteries and plans to ensure supply-chain transparency while adhering to strict ESG standards.

Rock Tech Lithium has released a positive Pre-Feasibility Study (PFS) for its Georgia Lake spodumene project in Ontario. The study estimates a pre-tax net present value (NPV) of USD 223 million and an internal rate of return (IRR) of 47.8%. The project includes planned production of 1,000,000 tonnes of spodumene concentrate annually with a lifespan of nine years. Total capital costs are projected at USD 290.7 million, and estimated pre-production costs are USD 192.2 million.

New mineral reserves and resources have also been declared, enhancing the project's economic viability.