Optimised Root Lithium Project PEA Highlights Robust Economics

Following the release of the December 2023 PEA1 , and in response to lithium market dynamics, the Root Lithium Project has now been optimised within a new PEA which has strengthened the project economics.

Green Technology Metals Limited (ASX: GT1) (GT1 or the Company), a Canadian-focused multi-asset lithium business, is pleased to announce the completion of its optimisedPreliminary Economic Assessment (PEA) for the standalone Root Lithium Project. The updated PEA outlines a robust development pathway for the Root Project, featuring a combination of open pit mine and underground mining methods. The processing flowsheet features a hybrid Dense Media Separation (DMS) and Flotation concentrator designed to produce 5.5% Spodumene Concentrate.

HIGHLIGHTS

• The Root Lithium Project in Ontario, Canada has been evaluated on a standalone basis and considering the recently updated Root Project MRE, revised pit optimisations and mine development options and changed lithium market conditions (previous 2023 PEA results were combined with the Company’s Seymour Lithium Project also in Ontario)
• The study confirms favourable economics across alternative mine development scenarios, including both open pit and underground mining, reinforcing Root as a viable and resilient standalone project
• The selected development option for the Root Lithium Project delivers:
  • An increase in NPV to US$668 million
  • A reduction in pre-production CAPEX, largely due to lower pre-stripping costs
  • Reduction in Total Material Movement (TMM)
  • Lower NPV and longer payback period due to more conservative SC5.5 pricing assumptions in early processing years
  • Significantly improved LOM strip ratio of 8.1:1, driven by underground development—resulting in lower mining costs that help offset reduced revenues

• The Root Lithium Project underpins GT1’s vertically integrated development strategy and is expected to provide long-term feed to the Company’s planned Lithium Conversion facility in Thunder Bay
• The immediate focus for the Root project will be advancing permitting and consultation activities in parallel with the Pre-Feasibility Study (PFS)

"The completion of the optimised PEA marks a major milestone for the Root Lithium Project, confirming it as a technically and economically robust standalone operation. With a longer mine life, reduced upfront capital requirements, and strong economics, Root is well-positioned to support GT1’s broader strategy of establishing a vertically integrated lithium supply chain in Ontario. This study reinforces our confidence in Root as a long-term feed source for the Thunder Bay conversion facility and highlights the project’s strategic importance in the North American battery materials landscape.

The economic advantages of executing a project in Ontario are obvious and compelling, driven by outstanding infrastructure, government incentives and proximity to the North American EV supply chain. We remain committed to advancing our Root Lithium Project to realise our overall strategy in Ontario.”

-GT1 Managing Director, Cameron Henry

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