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Galan Lithium - Positive Results of Pond Design Optimises Capex Profile

• The potential value of Galan’s wholly owned HMW Project continues to increase
• Positive review of preliminary ponds design layout confirms a production rate up to 25k tpa of LCE by optimising the continuous terrain available
• Staged pond design to improve capex profile while lowering initial capex
• New evaporation tests continue to achieve high grade lithium chloride concentrate in excess of 6% of Li and low impurities
• Battery grade test work is well advanced; results slightly delayed by COVID-19
• New Candelas optimised brine modelling is also underway

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