VANCOUVER, BC, May 16, 2024 /PRNewswire/ – LiTHOS Group Ltd. (“LiTHOS” or the “Company”) (CBOE CA: LITS), a leader in sustainable lithium production, is pleased to announce the continued influx of brine samples from new mining companies. This development underscores LiTHOS’s growing reputation and capability in the lithium extraction industry. The tests were conducted at LiTHOS’s state-of-the-art facility in Bessemer, Alabama, highlighting the Company’s commitment to technological innovation and environmental stewardship.
Key Developments:
Increased Brine Reception: LiTHOS has been receiving an increasing number of brine samples from new mining companies. This influx highlights the industry’s trust in LiTHOS’s patent-pending AcQUA™ technology, which aims to improve lithium extraction processes.
Successful Testing and Presentation: LiTHOS has completed comprehensive testing on multiple brine samples from one of its mining customers. The test results have been successfully presented to the client, demonstrating the effectiveness and reliability of LiTHOS’s technology.
New Client Engagements: LiTHOS is currently testing additional brine samples from customers. The Company expects to complete these tests soon and will present the results to potential clients, reinforcing its market presence.
South American Client Engagement: LiTHOS has received brine samples from another mining company in South America, reinforcing its presence in the key lithium-rich region and enhancing its global reach.
About LiTHOS
Lithos Group Ltd. is a mining technology company focused on selective extraction of aqueous minerals. The Company’s AcQUA™ technology allows lithium to be extracted from continental brine reservoirs without the need for additional freshwater or any added chemicals or reagents. Lithium is now among the world’s most in-demand metals as the world “electrifies” to reduce CO2 emissions, led by continuing growth in EV sales and the installation of hundreds of gigawatts of intermittent solar power generation capacity requiring partial battery storage solutions.
The Company’s mission is to produce sustainable lithium without evaporation ponds. AcQUA™ is LiTHOS’s patent-pending technology that spans the complete value chain from the conditioning and pre-treatment of raw brines through the DLE phase into the polishing and purification of battery-grade lithium feedstock. LiTHOS has two processing facilities: a 4,000 sq ft lab in Denver, CO, and a 55,000 sq ft complex in Bessemer, AL.
LiTHOS is working with multiple strategic mineral resource owners, including brines from the largest Salars in Chile and Argentina and the Smackover reservoir in the Southeastern United States. Our wholly-owned subsidiary, Aqueous Resources LLC, is a US Department of Energy grant awardee and a Colorado Advanced Industries grant awardee. For more information, please get in touch with LiTHOS Investor Relations at 1-877-LITHOS1 / 1-877-548-4671 or via email at [email protected].
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ON BEHALF OF THE BOARD
Scott Taylor – CEO
Forward-Looking Statements: This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian legislation. All statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation, the Company’s market position in the industry of sustainable lithium production and increase in the capacity of the Company’s facilities. Although the Company believes that such statements are reasonable and reflect expectations of future developments and other factors which management believes to be reasonable and relevant, the Company can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “may”, “should”, “would”, “will”, “potential”, “scheduled” or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company’s facilities will be able to handle the increased demand. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include but are not limited to, the failure of the Company’s facilities to handle increased demand and the potential that the Company’s market position does not increase as expected. Further, the ongoing labour shortages, inflationary pressures, rising interest rates, the global financial climate and the conflict in Ukraine and surrounding regions are some additional factors that are affecting current economic conditions and increasing economic uncertainty, which may impact the Company’s operating performance, financial position and future prospects. Collectively, the potential impacts of this economic environment pose risks that are currently indescribable and immeasurable. Other factors may also adversely affect the future results or performance of the Company, including those risks and concerns more fully described in the Company’s annual and quarterly management discussion and analysis and in other filings made by the Company with Canadian securities regulatory authorities under the Company’s profile at www.sedarplus.ca. Readers are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly, are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. These forward-looking statements are made as of the date of this news release, and unless required by applicable law, the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in these forward-looking statements.
SOURCE Lithos Group
