San José Receives Favourable Urban Compatibility Ruling

Infinity Lithium Corporation Limited (‘Infinity’ or ‘the Company’), through wholly owned subsidiary Extremadura New Energies, is pleased to announce the Cáceres Local Government (‘City Hall’) has considered and given a positive final assessment for the urban compatibility of the San José Lithium Project (‘San José’, or ‘the Project’) with respect to local legislative requirements.

HIGHLIGHTS

• Positive urban compatibility report received from Cáceres Local Government.
• Favourable urban compatibility report to be included in final Exploitation Concession submission.
• PREMIA project application to be finalised prior to Exploitation Concession Application submission.
• PREMIA projects will be recognised as regional projects of public interest and are subject to accelerated permitting and administrative assessment.

The Company’s application under the Informe acreditativo de la compatibilidad del Proyecto Minero Valdeflórez (‘Informe de Compatibilidad’, or ‘Urban Compatibility Classification’) was assessed by City Hall where it was determined that the Project is not incompatible with local urban legislative requirements. City Hall’s determination on the Urban Compatibility Classification has formalised the permitting process, with the Urban Compatibility Classification forming a component of the submissions for the PREMIA application and Exploitation Concession Application (‘ECA’). The Project remains eligible for PREMIA project classification as a project of general and regional interest, and therefore qualification for accelerated permitting consideration.

The PREMIA application will be submitted to the Consejería de Economía, Empleo y Transformación Digital of the Regional Government of Extremadura.

Ramon Jiménez, CEO of Extremadura New Energies, noted“the finalisation of the Informe de Compatibilidad is another important step in not only the execution of our permitting strategy, but also to potentially facilitate a fast PREMIA assessment. The recent advancements in permitting and grant funding, through multiple levels of government, provides positive endorsement for both the Project and the rapid advancement of the battery value chain in Spain.”

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