IIROC Trading Halt - PLU

Overview

Plateau Energy Metals Inc. (TSXV:PLU,OTCQB:PLUUF) (“Plateau”), a Canadian-Peruvian clean energy metals development and exploration company, is a leader in the new energy paradigm with its Falchani lithium chemical project and its Macusani uranium project. The company, with mineral concessions in southeastern Peru, covering approximately 930 square kilometers, discovered and delineated the world’s sixth-largest hard rock lithium resource, putting Peru on the lithium development world map. The company controls all reported uranium resources published in Peru, all of which are situated near infrastructure. To date, the company has only explored a fraction of its land package.

While Plateau started exploring for uranium in 2006, in November 2017 the company uncovered the Falchani lithium chemical project, which has presented a large volcanic tuff hard rock deposit with high-grade values of lithium. Extensive metallurgical test work completed to-date demonstrates that the lithium-rich volcanic material at Falchani can be processed using conventional processing methods (tank leach) and can produce a low impurity battery quality lithium chemical. On February 4, 2020, the company released its preliminary economic assessment (PEA) led by DRA Global which demonstrates Falchani is capable of growing to become one of the largest single asset lithium chemical projects that exists today, together with a low operating cost, flexible lithium chemical processing route, high economic returns (US$1.55 billion NPV of 8 percent and 19.7 percent IRR after-tax) and potential for future by-products. With the newly uncovered lithium project, Plateau plans to take advantage of a rapidly growing lithium market.