Comment on Chilean Government's Announcement

Comment on Chilean Government's Announcement

CleanTech Lithium PLC (AIM:CTL, Frankfurt: T2N, OTCQX: CTLHF), an exploration and development company advancing lithium projects in Chile, today commented on the announcement by the Government of Chile regarding the designation of strategic salars and the creation of a Protected Salars Network under the current administration's National Lithium Strategy.


Yesterday afternoon, in Chile, within the session held by the Committee of Ministers for Sustainability, led by the Minister of Environment, the creation of a Protected Salt Flats Network was unanimously approved. To achieve the aims of the National Lithium Strategy, it was agreed that private companies can take leadership roles on salars that are outside of the protected network and are not defined as strategic. CTL's non-strategic projects, remain outside areas declared as protected or that need further studies for such protection declaration, and therefore are still eligble for exploration and exploitation.

The Government set a clear path ahead, calling upon private companies from early April 2024 to express interest in the additional salars for lithium projects. It is expected that around July 2024, the Minister of Mining will list the salt flats where there is private sector interest in leading exploitation and exploration projects and those that require local indigenous consultations. After July, will see the allocation of the Special Lithium Operation Contracts (CEOLs), which are the special contracts the State awards regulating the terms and conditions for the exploitation, and benefit of the lithium reserves and permitting a salt flat to become a commercial project.

CleanTech Lithium has already expressed interest by submitting the CEOLs in September 2023, for Laguna Verde and Francisco Basin, with support from the local communities in the region.

Highlights:

  • The Chilean Government, led by the Minister of Environment, has agreed on a network of protected salars that will require further environmental assessment.
  • CTL's non-strategic projects; Laguna Verde and Francisco Basin remain outside areas declared as protected or that need further studies for such protection declaration.
  • From April 2024, private companies can express their interest to develop salars outside of the protected network.
  • It is expected that by July 2024, the Minister of Mining will list the salt flats where there is private sector interest in leading exploitation and exploration projects and those that require local indigenous consultations and those that do not.
  • Approval of CEOLs will then be awarded by the State for these salars
  • Private companies are able to take leadership in developing these new lithium projects, potentially in participation with State entities or on their own.

Following the announcement, the Finance Minister Mario Marcel commented that Chile's current production could increase up to 70% by the end of decade and double in ten years.

Aldo Boitano, Chief Executive Officer of CleanTech Lithium, said:

"The announcement made by the Chilean Government moves the National Lithium Strategy forward in a very positive way. The news brings certainity to those salt flats that will be subject to a more detailed environmental assessment and those that are for potential exploration and eventually exploitation. At CleanTech Lithium, we continue to progress our direct lithium extraction (DLE) projects, highlighting our commitment to mining that minimises its environmental footprint, and listens to the local communities in the Atacama Region, both of which are key conditions of the Chile's lithium strategic framework.

"The anticipated approval of our CEOLs, submitted in September 2023 by the Company, is the next step forward for our projects, while deepening our local community engagement with our existing alliance and deployment of DLE technology".

Notes:

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon publication of this announcement, this inside information is now considered to be in the public domain. The person who arranged for the release of this announcement on behalf of the Company was Gordon Stein, Director and CFO.

For further information contact:

CleanTech Lithium PLC

Aldo Boitano/Gordon Stein

Jersey office: +44 (0) 1534 668 321

Chile office: +562-32239222

Or via Celicourt

Celicourt Communications

+44 (0) 20 7770 6424

Felicity Winkles/Philip Dennis/Ali AlQahtani

cleantech@celicourt.uk

Harbor Access - North America

Jonathan Paterson/Lisa Micali

+1 475 477 9401

Porter Novelli - Chile

Ernesto Escobar

+569 95348744

Ernesto@publicoporternovelli.cl

Beaumont Cornish Limited

(Nominated Adviser)

Roland Cornish/Asia Szusciak

+44 (0) 207 628 3396

Canaccord Genuity (Joint Broker)

James Asensio

+44 (0) 207 523 4680


Fox-Davies Capital Limited (Joint Broker)

+44 20 3884 8450

Daniel Fox-Davies

daniel@fox-davies.com

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.

About CleanTech Lithium

CleanTech Lithium (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF) is an exploration and development company advancing sustainable lithium projects in Chile for the clean energy transition. Committed to net-zero, CleanTech Lithium's mission is to produce material quantities of sustainable battery grade lithium products using Direct Lithium Extraction technology powered by renewable energy. The Company plans to be a leading supplier of 'green' lithium to the EV and battery manufacturing market.

CleanTech Lithium has two key lithium projects, Laguna Verde and Francisco Basin, and hold licences in Llamara and Salar de Atacama, located in the lithium triangle, a leading centre for battery grade lithium production. The two major projects: Laguna Verde and Francisco Basin are situated within basins controlled by the Company, which affords significant potential development and operational advantages. All four projects have direct access to existing infrastructure and renewable power.

CleanTech Lithium is committed to using renewable power for processing and reducing the environmental impact of its lithium production by utilising Direct Lithium Extraction with reinjection of spent brine. Direct Lithium Extraction is a transformative technology which removes lithium from brine, with higher recoveries than conventional processes. The method offers short development lead times with no extensive site construction or evaporation pond development so there is minimal water depletion from the aquifer. www.ctlithium.com


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