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25/05/2023 10:00
• Pilot Project achieved 90% lithium recoveries at concentrations as low as 34 mg/L
• 97% recoveries achieved using 120 mg/L concentrations under simulated operating conditions
• Operating costs under CAD$4,000 per tonne at 120 mg/L expected to drive robust economics
• Novel breakthrough confirms commercial lithium extraction at low concentrations
• Pilot Project results set the stage for preparation of Preliminary Economic Assessment
Calgary, Alberta, Canada, May 24, 2023 – Volt Lithium Corp. (TSX-V: VLT, OTCQB: VLTLF, FSE:
I2D) (“Volt” or the “Company”) is very pleased to announce the results from a successful pilot
project to test its proprietary direct lithium extraction (“DLE”) technology in a simulated commercial
environment (the “Pilot Project”). The Pilot Project proved the Company’s ability to achieve
lithium recoveries of 90% based on concentrations of only 34 mg/L. The Company also simulated
operating conditions at concentrations of 120mg/L and achieved recoveries of up to 97% with
operating costs under CAD$4,000 per tonne, assuming sustained average annual production of
20,000 tonnes (tpa) of lithium hydroxide monohydrate (“LHM”). Further, in an unprecedented
result, the Pilot Project proved Volt’s DLE technology can maintain 90% lithium recoveries in
concentrations as low as 34 mg/L, and still maintain commercial economics, an achievement that
has yet to be reported by other lithium producers.
“Volt has achieved remarkable and ground-breaking results through the Pilot Project, and
achieved an impressive 97% recovery rate with 120 mg/L concentrations under simulated
operating conditions. I want to thank the entire R&D, operational and engineering teams for their
dedication and hard work in successfully executing this first phase,” commented Alex Wylie,
President and CEO of Volt. “These results confirm that Volt's proprietary technology is a true
game-changer. With this accomplishment, we are poised to lead the way in North America as the
first commercial producer of lithium from oilfield brines, which we are targeting for the second half
of next year.”
Volt is pleased to be participating in a webinar hosted by Energy Prospectus Group later this
morning, Wednesday, May 24 at 11AM ET (9AM MT / 8AM PT) to discuss the Company, the
significance of these results and what lies ahead for Volt and its stakeholders. All interested
parties are encouraged to join the live webinar by clicking HERE.
In March of 2023, Volt commenced its Pilot Project which was designed to simulate a commercial operating environment and allow the Company to confirm economic recoveries of lithium at
concentrations of up to 120 mg/L, an equivalent concentration to that found in the Muskeg aquifer at Volt’s Rainbow Lake Property as outlined in the Company’s press release issued May 18, 2023.
The Pilot Project enables Volt to verify the extraction capabilities of its IES-300 technology and to determine operating costs for the DLE process, a key factor in determining viability for commercial applications and ultimate profitability.
The Company consistently achieved extraction recoveries up to 90% using IES-300 at low lithium concentrations of 34 mg/L. Volt simulated pilot conditions using brine concentrated to 120 mg/L and achieved lithium extraction results as high as 97% with realized operating costs of less than
CAD$4,000 per tonne, assuming sustained average production of 20,000 tpa of LHM. The Company intends to process brines with lithium concentrations of 120 mg/L through the Pilot Project in the next week to validate in practice the results Volt realized in its simulated environment.
As outlined in the Company’s technical report, Volt has a total inferred mineral resource of 4.3 million tonnes of lithium carbonate equivalent (“LCE”) (4.9 million tonnes of LHM) at its Rainbow Lake property, more than 215 times its targeted sustained average production of 20,000 tpa, with
lithium concentrations as high as 121 mg/L. This affords Volt ample brine sources at varying lithium concentrations in its current asset base to continue advancing commercial development,
including commencing discussions to secure the required refining infrastructure needed to generate commercial quantities of LHM.
Volt’s R&D and operational team, led by Dr. John McEwen, PhD, Chem, believe the operating conditions have been successfully achieved for lithium extraction culminating in a successful Pilot Project.

Volt’s proprietary DLE technology involves a two -stage process to extract lithium from oilfield brine. In Stage One, the oilfield brine is treated using proven equipment and established processes, and during the Pilot Project, Volt confirmed the ability to effectively remove up to 99%
of contaminants in the preparation of clean brine for the DLE process. This is critical as having
contaminants in the brine causes interference during the DLE process and can lead to uneconomic processes.

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