Galan Lithium Limited: SUCCESSFUL DUE DILIGENCE COMPLETED - $20M PLACEMENT TO PROCEED

Galan Lithium Limited: SUCCESSFUL DUE DILIGENCE COMPLETED - $20M PLACEMENT TO PROCEED

Highlights:

  • All conditions in relation to the $20 million placement to Clean Elements Fund have been satisfied.
  • Due diligence undertaken by Clean Elements Fund validates the standing of Hombre Muerto West ( HMW ) as a world class lithium project, offering exceptional scale and grade.
  • Galan is now fully funded to complete the construction of Phase 1 at HMW (at 4ktpa LCE) with first production of lithium chloride concentrate planned during H1 2026.

Galan Lithium Limited (ASX: GLN,OTC:GLNLF) ( Galan or the Company ) is pleased to announce that all conditions relating to the $20 million share placement ( Placement ) to the Clean Elements Fund ( Clean Elements ) have now been completed.

The Placement, which was undertaken at a significant premium to the prevailing share price when originally announced, was subject to certain conditions including shareholder approvals (received at a General Meeting held on Friday, 22 August 2025 ) as well as the satisfactory completion by Clean Elements of technical and legal due diligence in respect of the Company and HMW in Argentina.

Clean Elements has advised that all conditions to the Placement have been satisfied. As such, the Placement will now proceed to settlement, providing Galan with the funding required for the finalisation of the HMW Phase 1 construction over the remainder of the 2025 calendar year, with first production of lithium chloride concentrate scheduled for H1 2026.

Settlement will take place in two equal tranches of $10 million .  Tranche 1 settlement will occur within the next 5 business days and Tranche 2 of the Placement will settle no later than 22 November 2025 , in line with the timing set out in the relevant shareholder approval.

Managing Director, Juan Pablo Vargas de la Vega , commented: "With the support of Clean Elements, Galan now has the funding certainty to complete Phase 1 construction at HMW and is firmly on track to deliver first lithium chloride concentrate production in H1 2026.

The due diligence undertaken by Clean Elements Fund has confirmed, what we at Galan already know – HMW is an exceptional lithium project, combining substantial scale and grade with execution capability that places it among the best globally.

The team at Galan remains focussed on advancing project delivery at HMW and we look forward to creating significant long-term value for shareholders as we progress towards production."

Clean Element's Chairman, Ofer Amir , commented: " We are thrilled to confirm a binding and unconditional commitment to complete both tranches of the placement—an outcome that underscores strong confidence in Galan's strategic direction.

Our specialist lithium brine adviser highlighted that HMW is the premier lithium brine resource globally. HMW's brine is the highest grade in Argentina with the lowest impurity profile. It also contains significantly less magnesium and calcium than the levels found in the Salar de Atacama in Chile which, when combined with HMW's high lithium grades, gives rise to the highest lithium recoveries in the lithium brine sector to date.

This exceptional resource quality enables a low-cost, evaporation process—positioning Galan to become a high-margin, globally competitive lithium producer. In our view, Galan will not just be participating in the lithium market; it will be setting a new benchmark."

The Galan Board has authorised this release.

For further information contact:

COMPANY

MEDIA

Juan Pablo ("JP") Vargas de la Vega

Matt Worner

Managing Director

Vector Advisors

jp@galanlithium.com.au

mworner@vectoradvisors.au

+ 61 8 9214 2150

+61 429 522 924

Cision View original content: https://www.prnewswire.com/news-releases/galan-lithium-limited-successful-due-diligence-completed---20m-placement-to-proceed-302537458.html

SOURCE Galan Lithium Limited

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Developing high-grade lithium brine projects in Argentina

Successful Due Diligence Ends - $20M Placement To Proceed

Successful Due Diligence Ends - $20M Placement To Proceed

Galan Lithium (GLN:AU) has announced Successful Due Diligence Ends - $20m Placement To Proceed

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Galan Lithium Limited: Incentive Regime for HMW Project in Argentina

Galan Lithium Limited: Incentive Regime for HMW Project in Argentina

Galan Lithium Limited (ASX: GLN,OTC:GLNLF) (" Galan " or " the Company ") is pleased to advise that the Comite Evaluador de Proyectos RIGI, responsible for awarding the Argentine Government's Régimen de Incentivo para Grandes Inversiones (the incentive regime for large-scale investments referred to as the " RIGI "), has approved the RIGI for Galan's flagship Hombre Muerto West (" HMW" ) Project in Catamarca Province, Argentina . Galan now expects to receive official approvals relating to the RIGI in due course.

The RIGI is a landmark investment framework introduced as part of the Government of Argentina's new economic reform agenda, aimed at encouraging large-scale investment in key sectors, including mining. The RIGI provides long-term certainty on tax and foreign exchange regulations, as well as streamlined permitting, both critical enablers for project financing, efficient construction and operation of the HMW Project over its multi-decade life.

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ALTECH - CERENERGY Battery Prototype Reaches Key Milestones

ALTECH - CERENERGY Battery Prototype Reaches Key Milestones

Altech Batteries (ATC:AU) has announced ALTECH - CERENERGY Battery Prototype Reaches Key Milestones

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Altech Batteries Ltd  CERENERGY Battery Prototype Reaches Key Milestones

Altech Batteries Ltd CERENERGY Battery Prototype Reaches Key Milestones

Perth, Australia (ABN Newswire) - Altech Batteries Limited (ASX:ATC,OTC:ALTHF) (FRA:A3Y) (OTCMKTS:ALTHF) is pleased to announce the latest performance results of the CERENERGY(R) cell and battery pack prototypes. These results confirm the technological maturity and robustness of the CERENERGY(R) technology and mark another decisive step towards industrialisation.

Highlights

- 650+ cycles with no capacity loss, proving exceptional material stability and long operational lifespan compared to conventional batteries

- Near 100% Coulombic efficiency, confirming minimal side reactions and strong intrinsic safety of sodium nickel chloride chemistry

- High energy efficiency of up to 92%, surpassing typical 70-80% levels of competing battery technologies

- Proven safety under extreme conditions - cells remained stable during overcharge, deep discharge, and thermal cycling up to 300 degC with no gassing, leakage, or rupture

- Robust and reliable chemistry - sodium nickel chloride avoids flammable electrolytes and runaway risks, confirming suitability for safe, large-scale grid and renewable energy storage

- ABS60 prototype validated under real-world conditions -tested across diverse load profiles, high-current pulses up to 50 A, and thermal variations

- Stable, efficient performance - achieved ~88% round-trip efficiency with no observable capacity fade over 110+ cycles

CELL PERFORMANCE

The CERENERGY(R) prototype cells have successfully completed over 650 charge-discharge cycles without any detectable capacity loss. Cycle life is a critical measure of battery durability, as most conventional batteries experience gradual degradation with every cycle. Achieving such performance highlights the outstanding stability of the materials and points to the potential for a long operational lifespan.

For stationary energy storage systems (ESS), this translates into fewer battery replacements, lower lifetime operating costs, and greater reliability for end users.

The cells also delivered nearly 100% Coulombic efficiency alongside an energy efficiency of up to 92% across 650 cycles. Coulombic efficiency reflects the proportion of charge recovered during discharge relative to what was supplied during charging. A value approaching 100% indicates minimal side reactions or parasitic losses, confirming the intrinsic stability and safety of sodium nickel chloride chemistry. This high efficiency demonstrates that the cells are not expending energy on unwanted processes such as electrode degradation. Such performance is vital for scalability, ensuring reliable, longterm operation in commercial energy storage applications.

Energy efficiency represents the proportion of energy delivered relative to the energy supplied. Competing technologies, including conventional high-temperature batteries and many flow batteries, typically achieve only around 70-80%. By reaching 92%, CERENERGY(R) positions itself in a highly competitive class, offering more cost-effective energy storage, stronger economics for grid operators, and seamless compatibility with the requirements of renewable energy integration.

The cells achieved a nominal capacity of 100 Ah and 250 Wh, with reliable performance even at higher discharge rates. A key feature is their ability to support multiple daily charge-discharge cycles within the 20-80% state of charge (SoC) range at 25 A. This capability positions CERENERGY(R) as a highly flexible solution for grid operators and energy storage providers, enabling cost-efficient, long-life performance in applications that demand frequent cycling such as renewable integration, peak shaving, and backup power.

CERENERGY(R) prototype cells underwent rigorous abuse testing, including overcharge to 4 V, deep discharge to 0.2 V, and thermal cycling between room temperature and 300 degC. In all cases, the cells remained stable with no gassing, leakage, or rupture -clear proof of their outstanding safety. These results highlight the intrinsic stability of sodium nickel chloride chemistry, which avoids the flammable electrolytes and runaway risks common in lithium-ion batteries. The ability to withstand extreme electrical and thermal stress demonstrates CERENERGY(R)'s robustness and confirms its suitability for safe, largescale deployment in grid, renewable, and industrial energy storage applications. This was achieved over 3 cycles with 1.8 Full Charge Equivalent (FCE) into 22 hours.

BATTERY PACK ABS60 (60 kWh) PROTOTYPE

The first ABS60 battery pack prototype has been successfully validated under real-world operating conditions, marking a major step forward in product readiness. Testing included diverse load profiles,

continuous discharges at 25 A (equivalent to C-rate of C/4 (discharges in 4 hours), or one-quarter of the pack's rated capacity per hour) at 80% depth of discharge (DoD), short-duration high-current pulses up to 50 A, and carefully controlled thermal variations.

The pack consistently demonstrated stable performance, achieving ~88% round-trip efficiency while maintaining reliable thermal management. Efficiency refers to the proportion of input energy that can be retrieved during operation-a critical measure of economic viability for large-scale storage. Over more than 110 cycles, results showed no observable capacity fading and only a slight increase in internal resistance. Capacity fading refers to the gradual decline in usable energy over repeated cycles, while internal resistance influences power delivery and heat generation.

The absence of meaningful degradation confirms the durability and electrochemical stability of the ABS60 design. These outcomes are highly significant as they demonstrate that the pack can withstand real-world duty cycles while retaining performance and efficiency, translating into longer service life, fewer replacements, and lower total cost of ownership.

For grid operators and renewable integration projects, this combination of robust cycling capability, efficiency, and thermal stability underscores the ABS60's commercial readiness and competitive advantage in the stationary energy storage market.

These results are a strong confirmation of CERENERGY(R)'s technological leadership and a clear signal of the technology's competitiveness and robustness for future applications in energy storage and industrial markets.

Group Managing Director, Iggy Tan said "These results confirm CERENERGY(R)'s robustness and readiness for market adoption. Demonstrating long cycle life, high efficiency, and unmatched safety, we are now strongly positioned to deliver a competitive and sustainable alternative for grid and industrial energy storage."

*To view photographs, tables and figures, please visit:
https://abnnewswire.net/lnk/17QS44T3



About Altech Batteries Ltd:

Altech Batteries Limited (ASX:ATC,OTC:ALTHF) (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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Critical Minerals Market Expected to Reach $586 Billion by 2032 as Demand Grows for Supply of Essential Minerals

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