Galan Lithium Limited Reports Quarterly Activities for the Period Ended 31 March 2021

The Board of Galan Lithium Limited (“Galan” or “the Company”) is pleased to provide this Quarterly Activities Report for the quarter ended 31 March 2021 and thereafter. The main focus for the quarter was the completion of the laboratory test work for its low carbon footprint brine evaporation process at its flagship Hombre Muerto West (“HMW”) project located in the South American Lithium Triangle in Catamarca, Argentina.

HIGHLIGHTS

• HMW’s lithium chloride (LiCl) concentrate increases significantly by 25% to 6% Li (32% LCE*)(from the original study value of 4.8% Li)
• Galan’s high-grade result (6% Li) is directly comparable to SQM’s and Albemarle’s LiCl concentrate produced from the Atacama basin in Chile
• Furthermore, HMW’s LiCL concentrate level (12.9% Li20*) is equivalent to more than double the average concentrate grade of Australian lithium spodumene producers (6% Li20 **)
• Galan may then have the flexibility to place its lithium for downstream products anywhere in the world without the burden of high logistics costs, high CO2 footprint and/or waste management
• Evaluation of the commercial potential in the global market for its high-grade LiCl concentrate as feed for lithium battery products has commenced
• Test results showed very low level of contaminants, especially SO4, Ca and Mg
• Initial HMW brine evaporation pilot works forecast to commence in Q2 2021 (pending COVID-19 situation)
• Data review enhances prospectivity at Greenbushes South Lithium Project
• Cash on hand at end of quarter was $14.9m

The results far exceeded Galan’s expectations, with the lithium chloride concentrate increasing by 25% to 6% Li (vs. 4.8% Li estimation for the Scoping Study/PEA, ASX announcement 21 December 2020). The HMW project’s Li grade, is one of the highest publicly known brine concentration levels in the world, using the evaporation process. Galan’s 6% Li it is directly comparable to SQM’s & Albemarle’s concentrate produced from the Atacama salt-flat in Chile. This result was made possible through the optimisation process developed using the Ad-Infinitum prediction model. These grades provide Galan with exciting commercial opportunities for a lithium chlorine concentrate product.

For the full press release, click here.