Century Lithium (TSXV:LCE)

Century Lithium Provides Update on Feasibility Study and Sodium Hydroxide as a By-Product

Century Lithium Corp. (TSXV: LCE) (OTCQX: CYDVF) (Frankfurt: C1Z) ("Century Lithium" or "the Company") is pleased to provide an update on its ongoing Feasibility Study for its Clayton Valley Lithium Project ("Project") in Clayton Valley, Nevada, and has commenced a market study on sodium hydroxide as a soluble by-product.

Highlights

  • Feasibility Study continues with work on options for a phased approach to production
  • Market study on sodium hydroxide as salable by-product to be included in the Feasibility Study

Throughout the year, Century Lithium remained focused on the development of its Clayton Valley Lithium Project. The work included ongoing testing of lithium extraction at the Pilot Plant and continuing work on the Feasibility Study for the Project, with reviews of capital and operating cost estimates with consultants Wood PLC, Global Resource Engineers, thyssenkrupp nucera USA, Saltworks Technologies Inc., and WSP USA Environment & Infrastructure Inc. This comprehensive study covers all areas of the lithium extraction process from shallow surface mining of lithium-bearing clay to on-site production of battery-grade lithium carbonate. Target production for the study follows that of the project's earlier Pre-Feasibility Study, which was based on a mill feed of 15,000 tonnes per day and average annual output of 27,000 tonnes per year of lithium carbonate equivalent.

To date, the Company has worked with its Feasibility Study team to revise and update estimates based on optimization. Given volatility in the lithium market, the Company is examining a phased approach to full scale production to provide prospective parties with a lower risk alternative in financing. The Company is working with its consultants to determine viable phases and underlying schedules.

The scope of the Project is multi-faceted in its approach to processing, and includes clay leaching and filtration, ion-exchange based direct lithium extraction ("DLE") from leach solutions, and the production of battery-grade lithium carbonate from the DLE product solutions via concentration, purification, and precipitation. The process is driven by locally sourced sodium chloride brine (salt solution) which is treated by electrolysis in a chlor-alkali plant to produce all the leaching and neutralization reagents required for the process on-site.

In the operation of the chlor-alkali plant, the neutralizing reagent generated is sodium hydroxide, also commonly known as lye, caustic soda, or simply caustic. In the plant, sodium hydroxide is produced as a by-product of the generation of the leaching reagent, hydrochloric acid, in an amount that is slightly greater than the production of hydrochloric acid. The acid and base are both produced in liquid form at Suite 1610 - 777 Dunsmuir Street, Vancouver, BC V7Y 1K4 Canada concentrations in the range of 30-37%, The hydrochloric acid is fully utilized in the leaching process. Sodium hydroxide is used at various points in the operation for neutralization and removal of impurities. Pilot plant testing has shown a significant amount of the sodium hydroxide will be surplus to the production process and therefore available as a by-product for potential sale. The western United States is largely dependent on imports of this essential chemical for water treatment and other industrial uses. A market study, to be incorporated in the Feasibility Study, recognizes the potential for revenue from sodium hydroxide sales, tapping into the need for a domestic supply of sodium hydroxide.

In order to properly evaluate the alternatives and incorporate economic benefits of by-product sales, described above, the Company anticipates completion of the Feasibility Study in Q1 2024.

Qualified Person

Todd Fayram, MMSA-QP and Senior Vice President, Metallurgy of Century Lithium is the qualified person as defined by National Instrument 43-101 and has approved the technical information in this release.

About Century Lithium Corp.

Century Lithium Corp. (formerly Cypress Development Corp.) is an advanced stage lithium company, focused on developing its 100%-owned Clayton Valley Lithium Project in west-central Nevada, USA. Century Lithium is currently in the pilot stage of testing on material from its lithium-bearing claystone deposit at its Lithium Extraction Facility in Amargosa Valley, Nevada and progressing towards completing a Feasibility Study and permitting, with the goal of becoming a domestic producer of lithium for the growing electric vehicle and battery storage market.

ON BEHALF OF CENTURY LITHIUM CORP.

WILLIAM WILLOUGHBY, PhD., PE

President & Chief Executive Officer

For further information, please contact:

Spiros Cacos | Vice President,

Investor Relations Direct: +1 604 764 1851

Toll Free: 1 800 567 8181

scacos@centurylithium.com centurylithium.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE. Suite 1610 - 777 Dunsmuir Street, Vancouver, BC V7Y 1K4 Canada 2

Cautionary Note Regarding Forward-Looking Statements

This release includes certain statements that may be deemed to be "forward-looking statements". Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as "expects," "estimates," "projects," "anticipates," "believes," "could," "scheduled," and other similar words. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration, and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

Source

Click here to connect with Century Lithium Corp. (TSXV: LCE) (OTCQX: CYDVF) (Frankfurt: C1Z) to receive an Investor Presentation

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CENTURY LITHIUM PRODUCES LITHIUM CARBONATE ONSITE AT PILOT PLANT

CENTURY LITHIUM PRODUCES LITHIUM CARBONATE ONSITE AT PILOT PLANT

Century Lithium Corp. (TSXV: LCE) (OTCQX: CYDVF) (Frankfurt: C1Z) (Century Lithium or the Company) is pleased to report the successful addition of a lithium carbonate stage at the Company's Lithium Extraction Facility (Pilot Plant) in Amargosa Valley, Nevada USA, part of the Company's 100%-owned Angel Island Mine (the Project). Prior to this addition, concentrated lithium solutions from the Pilot Plant were treated by Saltworks Inc. at their facility in Richmond B.C. where samples of battery quality lithium carbonate were produced. During the first days of startup of the lithium carbonate stage, Century's team at the Pilot Plant successfully treated 200 liters of concentrated lithium solution and produced 20 kg of high-grade lithium carbonate onsite.

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Century Lithium Corp. (TSXV: LCE) (OTCQX: CYDVF) (Frankfurt: C1Z) (Century Lithium or the Company) is pleased to announce the filing of the report " NI 43-101 Technical Report on the Feasibility Study of the Clayton Valley Lithium Project, Esmeralda County, Nevada USA", with effective date April 29 2024 (Feasibility Study or Report), to support the disclosure in the Company's news release dated April 29, 2024 (see news release ). The Report was prepared in accordance with National Instrument 43-101 (NI 43-101) by Wood Canada Limited (Wood), Global Resource Engineering, Ltd. (GRE) and WSP USA Environment and Infrastructure, Inc. (WSP). All currency amounts in this news release are presented in US dollars.

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CENTURY LITHIUM ANNOUNCES POSITIVE FEASIBILITY STUDY FOR THE CLAYTON VALLEY LITHIUM PROJECT, NEVADA

FEASIBILITY STUDY HIGHLIGHTS

  • Large-Scale Nevada-based Lithium Project: three-phase production plan will generate a life-of-mine average of 34,000 tonnes per annum (tpa) of battery-quality lithium carbonate (Li 2 CO 3 )

  • Innovative Approach in Processing: patent-pending chloride leaching process combined with Direct Lithium Extraction (DLE), the Feasibility Study is supported by 2+ years of testing at the Company's Pilot Plant

  • Mineral Resource Estimate: Measured and Indicated resources totaling 1,207.33 million tonnes (Mt) at an average grade of 957 parts per million (ppm) lithium (Li) containing 1. 155 Mt of Li or 6. 148 Mt of lithium carbonate equivalent (LCE)

  • Long 40-Year Mine Life : Proven and Probable Mineral Reserve Estimate totaling 287.65 Mt at an average grade of 1,149 ppm Li containing 0. 330 Mt of lithium or 1. 759 Mt of LCE

  • Initial Project: Phase 1 Capital Cost $1.537 billion for production capacity of 13,000 tpa LCE

  • Designed for Expansion: Phase 2 $0.651 billion for 28,000 tpa LCE, and Phase 3 $1.336 billion for 41,000 tpa LCE; Project expansions are capitalized with Project cash flow

  • Low Operating Cost: average operating cost $8,223 /t of Li 2 CO 3 produced, or $2,766 /t after sales of surplus sodium hydroxide (NaOH)

  • After-tax IRR of 17.1% at $24,000 /t Li 2 CO 3 : $3.01 billion after-tax net present value (NPV) at 8% discount rate and a 17.1% after-tax internal rate of return (IRR), using price assumptions of $24,000 /t for Li 2 CO 3 and $600 /dry metric tonne (dmt) for NaOH

Century Lithium Corp. (TSXV : LCE ) (OTCQX: CYDVF ) (Frankfurt: C1Z ) (Century Lithium or the Company) is pleased to announce the results of a National Instrument 43-101 (NI 43-101) feasibility study (Feasibility Study, FS or Study) completed on its 100% owned Clayton Valley Lithium Project (Project) in Nevada, USA . The Feasibility Study was prepared by Wood Group USA Inc. (Wood) and Global Resource Engineering, Ltd. (GRE). All currency amounts in this news release are presented in U.S. dollars.

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CENTURY LITHIUM PROVIDES UPDATE ON THE FEASIBILITY STUDY

CENTURY LITHIUM PROVIDES UPDATE ON THE FEASIBILITY STUDY

Century Lithium Corp. (TSXV: LCE) (OTCQX: CYDVF) (Frankfurt: C1Z) (Century Lithium or Company) reports that the Feasibility Study on the Company's Clayton Valley Lithium Project (Project), in Nevada, USA under the direction of Wood PLC and Global Resource Engineering Ltd., is currently under review by the Qualified Persons, and the Company anticipates its announcement imminently.

To date, the Company's Feasibility Study team has revised and updated estimates for a phased production approach at the Project. These revisions also included assessment and evaluation of the economic benefit of sales of the surplus sodium hydroxide produced by the chlor-alkali plant.

The Company's Lithium Extraction Facility (Pilot Plant) in Amargosa Valley, Nevada is now in its third year of testing the processing of lithium-bearing claystone from the Project. All data collected has been essential to the Feasibility Study. Century Lithium continues to work toward permitting the Project including the collection of baseline data collection for biology, surface and groundwater hydrology, and social impacts. Earlier this year, baseline reports were submitted by the Company's consultants and were accepted by the appropriate government agencies. Multiple reports have been completed which will aide in the preparation of a Plan of Operations to initiate the National Environmental Policy Act (NEPA) process.

About Century Lithium Corp.

Century Lithium Corp. (formerly Cypress Development Corp.) is an advanced stage lithium company, focused on developing its 100%-owned Clayton Valley Lithium Project in west-central Nevada, USA . Century Lithium is currently in the pilot stage of testing on material from its lithium-bearing claystone deposit at its Lithium Extraction Facility in Amargosa Valley, Nevada and progressing towards completing a Feasibility Study and permitting, with the goal of becoming a domestic producer of lithium for the growing electric vehicle and battery storage market.

ON BEHALF OF Century Lithium CORP.
WILLIAM WILLOUGHBY , PhD., PE
President & Chief Executive Officer

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Cautionary Note Regarding Forward-Looking Statements

This release includes certain statements that may be deemed to be "forward-looking statements". Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as " expects," "estimates," "projects," "anticipates," "believes," "could," "scheduled," and other similar words. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration, and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/century-lithium-provides-update-on-the-feasibility-study-302121633.html

SOURCE Century Lithium Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2024/19/c7578.html

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