Upgraded JORC Resource - Francisco Basin Li Project

CleanTech Lithium PLC (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF), an exploration and development company advancing sustainable lithium projects in Chile for the clean energy transition, announces an upgraded JORC resource estimate of 0.92 million tonnes of lithium carbonate equivalent ("LCE") at an average grade of 207mg/L lithium at the Company´s second project - Francisco Basin. The resource estimate now includes 0.44 million tonnes at an average grade of 221mg/L lithium in the Indicated category.

Although not yet categorised as a Reserve, this resource is considered sufficient for a production rate of 20,000 tonnes per annum of battery grade lithium carbonate for up to a possible 20-year operation, which will be used in the Scoping Study which is nearing completion. The Scoping Study is expected to reinforce the project's path to production, capital requirements and will support CleanTech Lithium's engagement with potential strategic partners.

Summary of the resource upgrade:

Table 1: Comparison of Francisco Basin JORC Resource Estimates: October 2022 and August 2023

Highlights:

• Following an exploration drilling programme completed in 1H 2023, the JORC resource estimate at Francisco Basin has been upgraded to 0.92 million tonnes of LCE including an Indicated resource of 0.44 million tonnes LCE
• The drilling programme encountered challenges with a late start due to heavy snow in the 2022 winter, and drill holes in the east of the resource zone encountered a loose sand unit affecting well completion and sampling in this prospective area
• For the upcoming exploration season (commencing late Q4 2023) modifications to the drilling programme are planned to successfully complete these wells and the Board believes there is large upside to the resource size and grade at Francisco Basin
• A pumping test programme completed at the project recorded a high transmissivity that corresponds to a modelled flow rate of approximately 80L/s in an operation stage well design, providing a potentially positive input into the Francisco Basin scoping study which will be completed in the coming weeks and announced prior to the planned listing on the ASX later in Q3 2023.

Commenting, Aldo Boitano, Chief Executive Officer, of CleanTech Lithium PLC, said: "Seeing a 74% increase in the Francisco Basin resource estimate to 0.92 million tonnes of LCE with 0.44 million tonnes now in the Indicated category provides more confidence in the resource potential and further de-risks the project following an extensive work programme this year. We think there remains strong potential for a large increase in the resource with further exploration work planned in 1H 2024.

The resource upgrade provides support for the Scoping Study which is nearly complete with a base case production rate of 20,000 tonnes of lithium carbonate per annum. High flow rates from a pumping test programme completed this season are a major positive. The recorded flow rates exceeded our expectations and this should reduce the number of wells required for production, potentially reducing the associated capex.

We expect the Scoping Study will confirm the economic potential of this project, alongside our other project Laguna Verde. At both sites we intend to advance our Direct Lithium Extraction process, which removes the need for evaporation ponds, and supply 'green' lithium to the EV and battery manufacturing industry."

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