Outstanding Pumping Test Results and Successful Catalina First Drilling

Galan Lithium Limited (ASX:GLN) (Galan or the Company) is pleased to provide a project and exploration activities update for its the flagship Hombre Muerto West (HMW) lithium brine project in Catamarca Province, Argentina. The Galan team has been focused on multiple workstreams with encouraging project construction, Phase 2 DFS and exploration results.

• HMW Phase 1:
  • Fourth long term pumping test (PBRS-03-23) results record an outstanding lithium mean grade of 981 mg/L; the highest reported grade from a production well in the Hombre Muerto Salar
  • Test pit confirms sound ground for ponds construction for HMW Phase 1
  • Existing pilot plant continues to deliver lithium chloride samples (6% Li) in support of off-take negotiations
  • All six initial Phase 1 brine production wells successfully constructed
• Exploration Drilling - Newly Consolidated Catalina Area:
  • First drilling confirms the continuity of the highly fractured domain at 300 metres deep, remaining open at depth.
  • 72-hour airlift test running at 6 L/s, confirming huge permeability potential; previous tests recorded averages of only 1-3 L/s
• Other:
  • Third party off-take and other strategic discussions ongoing
  • Completion of Phase 2 DFS still on track for September 2023

Galan’s Managing Director, Juan Pablo (JP) Vargas de la Vega, commented: “On the HMW Phase 1 construction front everything is moving along nicely with the main earthmoving contractor mobilising to site a week or so ago. Sound and solid test pit ground material results have given us great confidence in the ponds construction.

We are also delighted to report that all wells required to support the HMW Phase 1 production have now been constructed and with 4 long-term pumping tests now complete, we have confirmed the impressive HMW grades and flow rates that are consistently being achieved.

HMW’s newly consolidated Catalina area has provided very encouraging exploration results as we look forward to drilling more holes, along with geophysics, to be included in a future resource update. HMW keeps on growing and giving great results.

Congratulations to the Galan site team for this significant milestone which further de-risks the project. Our path to production is now tangible and real. We remain motivated become a new lithium miner and to start cashflow in H1 2025.”

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