Energy Fuels Achieves Commercial Production of 'On-Spec' Separated Rare Earths at its White Mesa Mill in Utah, While Simultaneously Advancing Uranium Production

Energy Fuels Achieves Commercial Production of 'On-Spec' Separated Rare Earths at its White Mesa Mill in Utah, While Simultaneously Advancing Uranium Production

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) ( "Energy Fuels" or the "Company" ), a leading U.S. producer of uranium, rare earth elements (" REEs "), and vanadium, is pleased to announce that it has achieved commercial production of separated neodymium-praseodymium (" NdPr ") at its White Mesa Mill in Utah (the " Mill "). Critically, the NdPr produced by Energy Fuels' meets the applicable product specifications of REE metal-makers, who specialize in the manufacture of REE-based alloys required for the permanent magnets widely used for electric motors in both battery powered electric vehicles (" EVs ") and dual power hybrids. Further, this 'on-spec' NdPr is now able to be produced by Energy Fuels at the full design capacity of its new Phase 1 REE separation circuit (850 to 1,000 metric tons (" tonnes ") of NdPr per year). The Company expects to have commercial quantities of separated NdPr available for shipment by the end of June 2024 . Energy Fuels believes this is the first time in several decades that a U.S. company has produced on-spec separated REE's from monazite on a commercial scale.

The Company is extracting, refining and separating the NdPr from monazite produced by The Chemours Company (" Chemours ") at its heavy mineral sand (" HMS ") operations in Florida and Georgia . Energy Fuels began piloting REE separations in 2021, and later performed partial REE separations in 2022 and 2023. The Company used this experience, having compiled several years of real-time data, to custom design and construct its new Phase 1 REE separation circuit at the Mill, which is now operating as designed. The Company would also like to highlight both the speed at which the circuit has reached full design capacity, and the fact that it has not experienced complications with start-up, which are so typical with the commissioning of new equipment and processes. Energy Fuels also completed construction of its Phase 1 REE Separation Circuit in Q1-2024 for a total cost of only about $16 million, which was significantly under the original budget of $25 million and a further testament to the capabilities of the Mill and the years of solvent extraction (" SX ") experience and technical expertise of Mill personnel. Also of note, the addition of REE separation processes has not hindered the ability or capacity of the Company to produce uranium at the Mill, and preparations are being made to commence a uranium ore and alternate feed uranium-bearing material processing campaign in Q3-2024.

During Q2-2024, the Company expects to produce about 25 to 35 tonnes of on-spec, separated NdPr from the monazite Energy Fuels has in inventory at this time. From the new circuit, Energy Fuels also expects to produce a samarium-plus (" Sm+ "), "heavy" REE concentrate, while also recovering the contained uranium from the monazite feed stocks. The Company expects to utilize this Sm+ concentrate to continue pilot-scale dysprosium (" Dy ") and terbium (" Tb ") separation and to design SX circuits at the Mill able to produce these "heavy" REE products in separated individual forms at the specifications required for metal and alloy making. Currently, there is no company in the Western Hemisphere capable of commercially producing separated, on-spec Dy, Tb, or other "heavy" REE products. NdPr, Dy, and Tb are known as the "magnet" REE's, as they are key and necessary ingredients in the powerful magnets used in the most efficient EVs, dual power hybrid vehicles, direct-drive wind energy, military and defense technologies, and other clean energy applications.

Following completion of NdPr production at the Mill in Q2-2004, the Company expects to begin processing uranium ore and alternate feed materials from our current stockpiles, resulting in the expected production of 150,000 to 500,000 pounds of U 3 O 8 during 2024, with production ramping up further in 2025. As previously announced, Energy Fuels has also acquired, or is in the process of acquiring, several HMS projects to secure monazite, which we believe will be globally cost-competitive, to supply future REE separation at the Mill. This includes the Bahia Project in Brazil that the Company acquired in February 2023 , the Donald Project joint venture that the Company announced on June 3, 2024 , and the pending acquisition of Base Resources and the Toliara Project in Madagascar , which in aggregate have the potential to make Energy Fuels one of the largest separated REE producers in the world. The Company expects to receive material quantities of monazite from these projects commencing as early as 2026. In the meantime, the Company plans to focus operations on an aggressive campaign of uranium production during the second half of 2024, all of 2025, and thereafter to supply U.S. uranium into the Company's portfolio of uranium contracts with U.S. nuclear utilities, in addition to additional spot and contract sales into uranium market strength.

MARK S. CHALMERS , PRESIDENT AND CEO OF ENERGY FUELS STATED:

"We have achieved a significant milestone for the Energy Fuels, for Utah , and for the United States : the commercial production of separated rare earths that meet applicable product specifications, while simultaneously ramping up domestic uranium production aggressively. I wish to congratulate the entire team at the White Mesa Mill for bringing commercial rare earth separation capabilities and expertise back to the United States , and for achieving this major accomplishment ahead of schedule and under budget. With this announcement, Energy Fuels can confirm the return of separated rare earth production from monazite back to the United States after a multi-decade absence, in addition to the return of technological know-how and expertise in this extremely important field that is critical to national and economic security.

"Due to the overwhelming success of Energy Fuels' Phase 1 REE separation project, Energy Fuels can now continue to advance its rare earth initiatives with an extremely high degree of confidence. This includes a potential expansion of standalone rare earth separation capabilities at the Mill to 4,000 to 6,000 tonnes of NdPr per year, along with 150 to 225 tonnes of Dy, and 50 to 75 tonnes of Tb, through development of our planned Phase 2 and Phase 3 REE separation circuits. While our recently commissioned Phase 1 Separation circuit is globally significant and would rank the Company as one of the leading producers of separated REEs in the world outside of China , our planned Phase 2 and Phase 3 Separation Circuits would truly be world-class. In addition, we are building a world-class portfolio of heavy mineral sand assets to control our supply of low-cost monazite. We are also ramping-up pilot testing on 'heavy' rare earth separation, with a focus on Dy and Tb. Due to knowledge gained from NdPr, we are confident we will be able to produce on-spec Dy, Tb, and any other separated rare earth products and to design, engineer, permit, construct and commission our Phase 2 and Phase 3 REE separation circuits within budget and time-frame expectations. Our capital investments in the planned Phase 2 and Phase 3 REE separation circuits will be conditional on receipt of suitable customer and/or government backing in the form of supply agreements, offtake agreements and/or financial support. We believe we are in an enviable position to secure this support, based on our proven rare earth processing, refining and separation capabilities and the world-class monazite supply chain we have secured and are securing. I am very pleased that all things are coming together and that we are emerging as a leading U.S. rare earth producer, in addition to advancing our position as a U.S-leading producer of uranium and vanadium.

"Once we conclude this run of separated NdPr, we plan to focus on the processing of our substantial stockpiled uranium ore and alternate feed material inventories at the Mill and the continued ramp-up of our uranium mining, production and sales. At the same time, we plan to design and permit a world-class expansion of REE separation at the Mill -- which is only about four to six times greater than what we have already achieved. Importantly, we will also continue to market our REE products to customers and evaluate government funding collaborations."

ABOUT ENERGY FUELS

Energy Fuels is a leading US-based uranium and critical minerals company. The Company, as a leading producer of uranium in the United States , mines uranium and produces natural uranium concentrates that are sold to major nuclear utilities for the production of carbon-free nuclear energy. Energy Fuels recently began production of advanced REE materials, including mixed REE carbonate in 2021, and commenced production of commercial quantities of separated REEs in 2024. Energy Fuels also produces vanadium from certain of its projects, as market conditions warrant, and is evaluating the recovery of radionuclides needed for emerging cancer treatments. Its corporate offices are in Lakewood, Colorado , near Denver , and substantially all its assets and employees are in the United States . Energy Fuels holds two of America's key uranium production centers: the White Mesa Mill in Utah and the Nichols Ranch in-situ recovery (" ISR ") Project in Wyoming . The White Mesa Mill is the only conventional uranium mill operating in the US today, has a licensed capacity of over 8 million pounds of U 3 O 8 per year, and has the ability to produce vanadium when market conditions warrant, as well as REE products, from various uranium-bearing ores. The Nichols Ranch ISR Project is on standby and has a licensed capacity of 2 million pounds of U 3 O 8 per year. The Company recently acquired the Bahia Project in Brazil and entered into a joint venture agreement to develop the Donald Project in Australia , each of which is believed to have significant quantities of titanium (ilmenite and rutile), zirconium (zircon) and REE (monazite) minerals. In addition to the above production facilities, Energy Fuels also has one of the largest NI 43-101 compliant uranium resource portfolios in the US and several uranium and  uranium/vanadium mining projects in production, on standby and in various stages of permitting and development. The primary trading market for Energy Fuels' common shares is the NYSE American under the trading symbol "UUUU," and the Company's common shares are also listed on the Toronto Stock Exchange under the trading symbol "EFR." Energy Fuels' website is www.energyfuels.com .

Cautionary Note Regarding Forward-Looking Statements: This news release contains certain "Forward Looking Information" and "Forward Looking Statements" within the meaning of applicable United States and Canadian securities legislation, which may include, but are not limited to, statements with respect to: any expectation that the Company will maintain its position as a leading U.S.-based uranium and critical minerals company or as the leading producer of uranium in the U.S.; any expectation as to production levels or timing or duration of production from the Bahia Project, the Donald Project, the Toliara Project or any of the Company's other mines or projects; any expectation as to costs of production at the Bahia Project, the Donald Project, the Toliara Project or any of the Company's other mines or projects, or that the Company will secure monazite at globally competitive costs; any expectation that the Company may be successful in entering the REE metal, alloy, and/or magnet-making space; any expectation that the addition of REE production will not diminish in any way the Company's U.S. leading uranium production capabilities; any expectation that any ore reserves estimated to date will accurately reflect actual reserves or resources; any expectation that the Company will be successful in advancing its REE initiatives or that it will be successful in installing REE production capacity at the Mill and the timing of installation of any such production capacity; any expectation that the Company's REE and other products will and will continue to meet commercial specifications; any expectation as to when the Company will have commercial quantities of separated NdPr available for shipment; any expectation that the Company's planned Phase 2 and Phase 3 separation circuits will be developed and if developed would be world-class; any expectation that the Company's planned Phase 2 and Phase 3 separation circuits if developed, would be developed within budget and time-frame expectations; any expectation as to the success of the Company's permitting programs; any expectation that the Company's proposed acquisition of Base Resources and the Toliara project will be completed or if completed, completed on the terms and time proposed; any expectation that the Company will be able to secure commitments for satisfactory offtake and/or sales agreements for REEs produced from monazite at the Mill; any expectation that Energy Fuels will be successful in obtaining suitable supply agreements, offtake agreements and/or financial support from customers and/or governments, to justify development of the planned Phase 2 and Phase 3 separation circuits, or at all; any expectation that the Company is emerging as a leading U.S. rare earth producer, in addition to advancing its position as a U.S-leading producer of uranium and vanadium; any expectation that the Bahia Project and Donald Project will be developed and proceed to production; and any expectation that the Company will be successful in acquiring Base Resources or that the Toliara Project will be developed and proceed to production. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans," "expects," "does not expect," "is expected," "is likely," "budgets," "scheduled," "estimates," "forecasts," "intends," "anticipates," "does not anticipate," or "believes," or variations of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will be taken," "occur," "be achieved" or "have the potential to." All statements, other than statements of historical fact, herein are considered to be forward-looking statements. 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 be materially different from any future results, performance or achievements express or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements include risks associated with:  commodity prices and price fluctuations; engineering, construction, processing and mining difficulties, upsets and delays; permitting and licensing requirements and delays; changes to regulatory requirements; legal challenges; the availability of feed sources for the Mill; competition from other producers; public opinion; government and political actions; the failure of the Company to provide or obtain the necessary financing required to develop the Bahia Project, the Donald Project, the Toliara project or any of the Company's other projects or initiatives; available supplies of monazite; the ability of the Mill to produce rare earth carbonate, rare earth elements or other rare earth element products to meet commercial specifications on a commercial scale at acceptable costs or at all; market factors, including future demand for uranium, rare earth elements and heavy mineral sands; the ability of the Mill to be able to separate radium or other radioisotopes for cancer treatments at reasonable costs or at all; market prices and demand for medical isotopes; and the other factors described under the caption "Risk Factors" in the Company's most recently filed Annual Report on Form 10-K, which is available for review on EDGAR at www.sec.gov/edgar.shtml , on SEDAR at www.sedar.com , and on the Company's website at www.energyfuels.com . Forward-looking statements contained herein are made as of the date of this news release, and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. The Company assumes no obligation to update the information in this communication, except as otherwise required by law.

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SOURCE Energy Fuels Inc.

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Energy Fuels and Astron Corporation Limited Execute Definitive Agreements to Jointly Develop the Donald Rare Earth and Mineral Sands Project in Australia; Uranium Production from the Company's U.S. mines and Alternate Feed Materials Continues to Ramp up as Planned

Energy Fuels and Astron Corporation Limited Execute Definitive Agreements to Jointly Develop the Donald Rare Earth and Mineral Sands Project in Australia; Uranium Production from the Company's U.S. mines and Alternate Feed Materials Continues to Ramp up as Planned

  • The Donald Project is an advanced-stage project with the potential to supply approximately 7,000 – 14,000 tonnes of monazite sand in a rare earth element (" REE ") concentrate (" REEC ") per year to Energy Fuels' White Mesa Mill (the " Mill "), located in Utah, U.S.A. , for processing into separated REE oxides, as early as 2026.
  • Under the joint venture, Energy Fuels has the right to invest AUD$183 million (approximately $122 million ) and issue $17.5 million in Energy Fuels shares to earn up to a 49% interest in the project.
  • Of these amounts, Energy Fuels expects to issue $3.5 million in Energy Fuels shares in 2024 and to invest approximately $10.6 million in 2024 from its existing working capital (approximately $225 million at March 31, 2024 ) , prior to making a final investment decision to proceed with the development of the first phase of the project. A positive final investment decision would require the approval of both Energy Fuels and Astron and would generally require commitments for satisfactory offtake and/or sales agreements for the REE oxides expected to be produced from REEC at the Mill, as well as commitments for non-recourse and/or government-backed debt financing for the project.
  • The REEC production of approximately 7,000 to 8,000 tonnes per year from the first phase of the Donald Project would be processed at the Mill's recently constructed REE oxide separation circuit, which is expected to be fully commissioned by the end of Q2 2024 and has the capacity to process up to 10,000 tonnes of monazite sand per year into up to 1,000 tonnes of NdPr oxide per year, along with a heavy mixed REE carbonate, without the need for any further capital expenditures at the Mill.
  • During 2024 and 2025, the Company also plans to continue to design, permit, and construct an expansion of REE oxide production capacity at the Mill to 40,000 – 60,000 tonnes of monazite per year, which is expected to be completed in 2027, and would have the capacity to process the second phase of monazite production from the Donald Project of 13,000 to 14,000 tonnes of REEC per year, which could be available as early as 2029/2030, as well as planned monazite production from the Company's Bahia Project in Brazil and the Company's planned acquisition of the Toliara Project in Madagascar .
  • The Company's REE production initiatives will not diminish in any way the Company's U.S. leading uranium production capabilities, which are proceeding as planned. The Company expects to produce approximately 150,000 to 500,000 pounds of uranium oxide (" U 3 O 8 " ) in 2024 from its U.S. mines and alternate feed materials ramping up to mining at a run-rate of approximately 1.1 million to 1.4 million pounds of U 3 O 8 per year later this year from three of its existing mines, with plans to increase mining to the rate of approximately 2 million pounds of U 3 O 8 per year by 2025 and up to 5 million pounds per year in coming years if market conditions continue to be positive, as expected.

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) ( "Energy Fuels" or the "Company" ), a leading U.S. producer of uranium, REEs, and vanadium, is pleased to announce that it has executed binding agreements with Astron Corporation Limited (" Astron ") creating a joint venture (the " Venture ") to develop and operate the Donald Rare Earth and Mineral Sands Project, located in the Wimmera Region of the State of Victoria, Australia (the " Donald Project "). All references to dollars or $ in this news release are references to US$ unless otherwise indicated.

The Donald Project is a world-class, world scale, REE and heavy mineral sand (" HMS ") deposit that has the potential to provide Energy Fuels with a near-term, low-cost, and large-scale source of monazite sand in an REE concentrate (" REEC ") that would be transported to the Company's Mill in Utah, USA for processing into REE oxides and other advanced REE materials to fuel the clean energy transition and meet critical U.S. national security needs.

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Clean Energy and Precious Metals Hybrid Virtual Investor Conference: Presentations Now Available for Online Viewing

Clean Energy and Precious Metals Hybrid Virtual Investor Conference: Presentations Now Available for Online Viewing

Virtual Investor Conferences, the leading proprietary investor conference series, today announced the presentations from the Clean Energy and Precious Metals Hybrid Virtual Investor Conference held May 23 rd are now available for online viewing.

REGISTER NOW AT : https://bit.ly/4bNF5Zi

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Energy Fuels Announces 2023 Results: Record Net Income and Earnings per Share, Uranium Production Ramp-Up, and Near-Term Production of Separated Rare Earth Elements

Energy Fuels Announces 2023 Results: Record Net Income and Earnings per Share, Uranium Production Ramp-Up, and Near-Term Production of Separated Rare Earth Elements

Conference Call and Webcast on February 26, 2024

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) ("Energy Fuels" or the "Company") today reported its financial results for the year ended December 31, 2023. The Company's Annual Report on Form 10-K has been filed with the U.S. Securities and Exchange Commission (" SEC ") and may be viewed on the Electronic Document Gathering and Retrieval System (" EDGAR ") at www.sec.govedgar. html on the System for Electronic Document Analysis and Retrieval (" SEDAR ") at www.sedar.com and on the Company's website at www.energyfuels.com . Unless noted otherwise, all dollar amounts are in U.S. dollars.

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Energy Fuels Announces Sale of Secured Convertible Note and Receipt of Payment in Full for Prior Sale of Alta Mesa ISR Project

Energy Fuels Announces Sale of Secured Convertible Note and Receipt of Payment in Full for Prior Sale of Alta Mesa ISR Project

Together with $41.8 million previously paid by enCore, net proceeds from the Note total $64.2 million

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) ( "Energy Fuels" or the "Company" ) is pleased to announce that, on November 9, 2023 it sold to MMCAP International Inc. SPC (" MMCAP ") the remaining unpaid balance of $20 million owed under the Secured Convertible Note (the " Note ") issued to the Company by enCore Energy Corp. (" enCore ") as partial consideration for enCore's purchase of the Alta Mesa In-Situ Recovery Project (the " Alta Mesa Sale "), as previously announced on February 15, 2023 for total consideration of $21 million plus $1.5 million in unpaid accrued interest, less a sales commission of $100,000 paid to a third-party broker. As disclosed in the Company's Form 10-Q for the quarter ended September 30, 2023 enCore previously paid $40 million toward the $60 million principal Note balance and $1.8 million of interest to the Company in partial fulfillment of its obligations under the Note. As a result of enCore's earlier paydown and the $22.4 million received in connection with the Note's sale, the Company has now received payment in full for the Alta Mesa Sale, and no further consideration is owed in connection therewith. All references to dollar amounts in this press release are references to US$.

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Victory is Pleased to Announce the Appointment of Gary Musil to the Company's Board of Directors and a Private Placement

Victory is Pleased to Announce the Appointment of Gary Musil to the Company's Board of Directors and a Private Placement

Victory Battery Metals Corp. (CSE:VR)(OTC PINK:VRCFF)(FWB:VR6) welcomes Gary Musil as a director of the Company, effective July 1, 2024. Gary Musil has more than 35 years of management and financial consulting experience and has served as an officer and director on numerous public companies since 1988. This experience has resulted in his overseeing the financial aspects and expenditures on exploration projects in Peru, Chile, Eastern Europe (Slovak Republic), and British Columbia, Ontario, Quebec, Saskatchewan and New Brunswick (Canada). Prior to his public company work, he was employed for 15 years with Dickenson Mines Ltd. and Kam-Kotia Mines Ltd., as the Controller for their producing silverleadzinc mine in the interior of British Columbia

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Albemarle Announces Quarterly Common Stock Dividend

Albemarle Announces Quarterly Common Stock Dividend

The Board of Directors of Albemarle Corporation (NYSE: ALB) announces that it has declared a quarterly common stock dividend of $0.405 per share. The dividend, which has an annualized rate of $1.62 is payable Oct. 1, 2024 to shareholders of record at the close of business as of Sept. 13, 2024 . For 30 consecutive years, Albemarle has raised its dividend.

Albemarle Corp. Logo. (PRNewsFoto/Albemarle Corporation)

About Albemarle
Albemarle Corporation (NYSE: ALB) leads the world in transforming essential resources into critical ingredients for mobility, energy, connectivity and health. We partner to pioneer new ways to move, power, connect and protect with people and planet in mind. A reliable and high-quality global supply of lithium and bromine allows us to deliver advanced solutions for our customers. Learn more about how the people of Albemarle are enabling a more resilient world at Albemarle.com , LinkedIn and on X (formerly known as Twitter) @AlbemarleCorp .

Albemarle regularly posts information to www.albemarle.com , including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, U.S. Securities and Exchange Commission filings and other information regarding the company, its businesses and the markets it serves.

Forward-Looking Statements

Some of the information presented in this press release, including, without limitation, information related to future dividends and results, and all other information relating to matters that are not historical facts may constitute forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from the views expressed. Factors that could cause actual results to differ materially from the outlook expressed or implied in any forward-looking statement include, without limitation: changes in economic and business conditions; adverse changes in liquidity or financial or operating performance; changes in the demand for our products or the end-user markets in which our products are sold and the other factors detailed from time to time in the reports we file with the U.S. Securities and Exchange Commission, including those described under "Risk Factors" in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. These forward-looking statements speak only as of the date of this press release. We assume no obligation to provide any revisions to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws.

Investor Relations Contact: Meredith Bandy , +1 (980) 999-5768, meredith.bandy@albemarle.com
Media Contact: Peter Smolowitz
, +1 (980) 308-6310, media@albemarle.com

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SOURCE Albemarle Corporation

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Altech Batteries Ltd  Update on CERENERGY ABS60 Battery-pack Prototypes

Altech Batteries Ltd Update on CERENERGY ABS60 Battery-pack Prototypes

Perth, Australia (ABN Newswire) - Altech Batteries Limited (ASX:ATC) (FRA:A3Y) (OTCMKTS:ALTHF) is pleased to provide an update on the production of its CERENERGY(R) ABS60 BatteryPack prototypes. All 240 cells for the first ABS60 BatteryPack Prototype have now been fabricated, assembled and initialized at Fraunhofer IKTS Hermsdorf's pilot plant.

Highlights

- Prototype production is progressing well

- All CERENERGY(R) cells for the first 60 KWh Prototype completed

- Cell contacting system manufacturing finished and delivered

- Improved cell electrode design showing excellent results

- Cell quality tests by Fraunhofer delivering better than expected capacity

- Welding of cells to cell contacting system underway

- Completed modules will be mounted into ABS60 BatteryPack next week

To validate a homogeneous cathode material distribution, all cells were cycled through several testing stations at Fraunhofer IKTS Hermsdorf and Arnstadt.

IMPROVED CELL ELECTRODE DESIGN

During the fabrication of the two 60kWh CERENERGY(R) ABS60 BatteryPack prototypes, the Altech and Fraunhofer team made several design improvements to the cell's positive probe. These enhancements aimed to boost the cell's energy capacity and reduce the nickel content. The "V2" design of the positive probe allows for slightly faster charging and discharging while lowering the unit costs of the battery. Testing revealed that most cells had higher-than-expected energy capacities, an outstanding result that strongly supports the chosen electrode design. With all cells manufactured according to the series design and optimized processes, the best cells to date have been completed. The table below demonstrates that all the cells are meeting the expected specifications.

CELL CONTACTING SYSTEM COMPLETED

The Cell Contacting System (CCS) has undergone stringent testing and has now been completed and delivered by key supplier Hofer AG. The CCS was delivered to Fraunhofer IKTS in Dresden, where all parts of the modules will be collected to assemble each of the five modules. Each module contains 48 cells, that are currently being welded to the CCS by an external service provider.

After welding is completed, the ABS60 BatteryPack with its 60 kWh capacity can be completely assembled.

MODULE WELDING TRIALS

To guarantee the most time-efficient welding, a unique tool was designed and built at Xenon, which is responsible for welding and quality control across the 120 MWh battery plant. After completing the welding tool, it was shipped to an external laboratory, accompanied by a test module and several trial cells. The aim was to determine the best working parameters and to proof the handling of certain parts of the module.

The trials were successfully finished.

CELL MANUFACTURING PROGRESSING WELL

All 240 cells for the first ABS60 BatteryPack Prototype have been assembled and initialised at Fraunhofer IKTS, Hermsdorf. To validate a homogeneous cathode material distribution, all cells were cycled through several testing stations at Fraunhofer IKTS Hermsdorf and Arnstadt.

INTERIM CELL TESTING

At Fraunhofer IKTS in Hermsdorf, all cells were scanned using a unique X-ray microtomography device that enables the ability to look inside cells after they are hermetically closed. This is required to ensure the most homogeneous material distribution inside the cells as well as the best possible alignment of cell components e.g. electrode. The results have been excellent to date. Another quality assurance procedure involved cycling cells to ensure the electrical requirements and parameters are operating as designed.

MODULE WELDING AND BATTERYPACK ASSEMBLY

After every cell passed all quality checks, the modules containing the cells were shipped to the laboratory for welding onto the CCS. By using the predetermined parameters for welding, all modules have been successfully welded. After completion, the modules will be shipped to Fraunhofer IKTS, Dresden, where all five modules will then be mounted into the ABS60 BatteryPack and the first Prototype will be completed.

This will enable testing and demonstration to potential customers, to prove individual use cases for each customer.

ABOUT THE ABS60 - BATTERYPACK

The 60kWh Altech Battery Pack consists of five 12kWh modules with 48 cells each, mounted on top of each other and sealed in a thermal isolated stainless steel hood housing. The Battery management system is mounted at the base. To maintain thermal self-sufficiency, an insulation hood was designed, where the required heat of the system can be maintained inside the BatteryPack as long as possible, although the outer surface only has ambient temperature. This was achieved by using vacuum insulation. The base of each module is designed to accommodate folklift transport for easy mounting into the GridPack.

Commenting on the progress, MD and CEO Iggy Tan stated "Altech's team in Germany, together with its joint venture partner Fraunhofer, and with the assistance of key suppliers, have made excellent progress on the fabrication of two 60kWh CERENERGY(R) ABS60 BatteryPack prototypes. All components for the first BatteryPack have now been fabricated. Altech is now completing the welding of the cells to the Cell Contacting System, after which the five completed battery modules will be delivered to Fraunhofer IKTS in Dresden, where all five modules will be mounted into the ABS60 BatteryPack and the first ABS60 Prototype will be completed. The BatteryPack will then be available for testing and demonstration to potential customers, thereby assisting Altech in securing offtake and finance for the 120MWh CERENERGY(R) battery plant to be constructed on Altech's land in Germany".

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/O449B2I4



About Altech Batteries Ltd:

Altech Batteries Limited (ASX:ATC) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

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Nevada Sunrise Initiates Data Review to Develop New Drill Targets at the Coronado Copper Project, Nevada

Nevada Sunrise Initiates Data Review to Develop New Drill Targets at the Coronado Copper Project, Nevada

Nevada Sunrise Metals Corporation (TSXV: NEV) (OTCBB: NVSGF) ("Nevada Sunrise" or the "Company") is pleased to announce that the Company has initiated a geological and geophysical data review on its Coronado Copper Project (" Coronado ", or the " Project ") located in Pershing County, Nevada approximately 48 kilometers (30 miles) southeast of Winnemucca . The purpose of the Coronado data review is to identify new, shallow drill targets in an area of the Project where historical drilling in 1976 identified high-grade copper mineralization.

Highlights of the Coronado Copper Project

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NextSource Materials Appoints Jaco Crouse as Chief Financial Officer

NextSource Materials Appoints Jaco Crouse as Chief Financial Officer

NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("NextSource" or the "Company") announces the appointment of Jaco Crouse as Chief Financial Officer (CFO) of the Company as part of its global growth strategy

Mr. Crouse today replaces Marc Johnson who has served as CFO since October 2015. Mr. Johnson will continue to provide consulting services to the Company to assist with the smooth transition of this role. The Board of Directors of the Company would like to thank Mr. Johnson for his service to the Company over the years and wishes him well in his future endeavours.

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Nevada Sunrise Signs Indicative Term Sheet to Sell Remaining Interest in the Kinsley Mountain Gold Project, Nevada

Nevada Sunrise Signs Indicative Term Sheet to Sell Remaining Interest in the Kinsley Mountain Gold Project, Nevada

Nevada Sunrise Metals Corp. (TSXV: NEV) (OTCBB: NVSGF) ("Nevada Sunrise" or the "Company") announced today that it has signed a non-binding, indicative term sheet with CopAur Minerals Inc. (" CopAur ") for CopAur to acquire Nevada Sunrise's remaining ownership interest in the Kinsley Mountain Gold Project in Nevada (" Kinsley Mountain "). If the transaction is completed, CopAur will own 100% of Kinsley Mountain .

Nevada Sunrise Metals Corporation Logo (CNW Group/Nevada Sunrise Metals Corporation)

The indicative term sheet outlines a potential transaction whereby CopAur would acquire Nevada Sunrises' 18.74% ownership interest in Kinsley Mountain in consideration of the payment of CDN$475,000 and the issuance of 1,000,000 common shares of CopAur (the "Shares"). The Shares would be deposited in escrow and released in successive releases of 250,000 Shares once every calendar quarter commencing after expiry of the four-month statutory hold period following the closing date. The terms of the transaction are indicative and the final terms are subject to the negotiation and completion of a definitive agreement on terms acceptable to Nevada Sunrise and CopAur. The transaction is subject to a number of conditions including CopAur arranging a financing in the amount of a minimum of CDN$475,000 , completion of satisfactory due diligence, and the fulfilment of various closing conditions, including acceptance by the TSX Venture Exchange.

About Kinsley Mountain

Kinsley Mountain was a historical past producer that yielded 138,000 ounces of near-surface, open-pit oxide gold between 1995 and 1999, and currently hosts a compliant National Instrument 43-101 mineral resource. A technical report on Kinsley Mountain entitled "Technical Report of the Kinsley Project, Elko and White Pine Counties, Nevada, U.S.A. ", dated June 21, 2021 , with an effective date of May 5, 2021 , prepared by Michael M. Gustin and Gary L. Simmons , is available for review under New Placer Dome Gold Corp.'s issuer profile on sedarplus.ca

About Nevada Sunrise

Nevada Sunrise is a junior mineral exploration company with a strong technical team based in Vancouver, BC , Canada , that holds interests in lithium, gold and copper exploration projects located in the State of Nevada, USA .

Nevada Sunrise owns 100% interests in the Gemini, Jackson Wash and Badlands lithium projects, all of which are located in the Lida Valley in Esmeralda County, NV , and in the Pelican lithium project in Saskatchewan, Canada . The Company owns Nevada Water Right Permit 86863, also located in the Lida Valley basin, near Gold Point, NV.

Nevada Sunrise has the right to earn a 100% interest in the Coronado Copper Project , located approximately 48 kilometers (30 miles) southeast of Winnemucca, NV.

The Company owns an 18.74% interest in the Kinsley Mountain Gold Project near Wendover, NV , in a joint venture with CopAur, which is now the subject of a potential transaction between Nevada Sunrise and CopAur.

FORWARD LOOKING STATEMENTS

This release may contain forward–looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur and include disclosure of anticipated exploration activities. Although the Company 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 may differ materially from those in forward looking statements. Forward–looking statements are based on the beliefs, estimates and opinions of the Company's management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward–looking statements whether as a result of new information, future events or otherwise.

Such factors include, among others, risks related to: the completion of the potential transaction with CopAur Minerals Inc. for the purchase of the Company's remaining participating interest in the Kinsley Mountain Gold Project joint venture; reliance on technical information provided by third parties on any of our exploration properties; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labor disputes and other risks of the mining industry; delays due to pandemic; delays in obtaining governmental approvals, financing or in the completion of exploration, as well as those factors discussed in the section entitled "Risk Factors" in the Company's Management Discussion and Analysis for the Six Months Ending March 31 , 2024,  which is available under Company's SEDAR profile at www.sedar.com .

Although Nevada Sunrise has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Nevada Sunrise disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Nevada Sunrise Metals Corporation

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2024/08/c5338.html

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