International Battery Metals Agreement (IBAT) and US magnesium sign agreement to install first modular direct lithium (DLE) plant

• Modular design provides scalability and smaller footprint
• Effective technology with various brine sources, including brines produced from oil fields as well as underground brines

VANCOUVER, BC AND HUSTON, May 6, 2024 /PRNewswire/ — International Battery Metals Ltd. (CSE: IBAT ), today announced an agreement with US Magnesium LLC (US Mag) to install its first-of-its-kind, patented modular Direct Lithium Extraction (DLE) plant installed in a brine well. The mobile facility is co-located with US Mag's existing overseas operations Salt Lake City, Utah. The IBAT plant will process brine produced from magnesium waste salts containing lithium. The resulting lithium chloride product will provide feedstock for US Mag's production of high-purity lithium carbonate.

Modular design, transportable. In the last month, IBAT has initiated most of the equipment setup, including piping and utility connections and other installation activities of its patented modular extrusion plant at the US Mag site. Initial testing of critical equipment is underway. IBAT anticipates that full commissioning and start-up will be completed within the next three months, with commercial lithium production following shortly thereafter.

“Our commercial operations with US Mag will advance a productive lithium mining operation,” it said Garry Flowers, CEO of IBAT. “Given the current demand for lithium, the supply dependence of Chinaand allowing for challenges, our expected commercial operations are coming at an ideal time to produce lithium at scale in the US.”

IBAT's patented modular plant was fabricated in Lake Charles, La., before being recently shipped to US Mag.

Independently verified. IBAT's technology has been validated by an independent review by SLR International Corporation, a global leader in environmental and engineering services, and Greg Mehs & Associates LLC, an independent testing agency. The technology has proven effective with various brine sources, including brines produced from lithium-bearing oil fields, where it shows great promise, based on a large-volume test with Galvanic Energy in the Smackover Formation in Arkansas. The technology has also proven effective with underground brine resources Alberta, Saskatchewan, Michigan, OHIO, Oklahoma, California, TEXASSalars in Chile AND Argentinaand geothermal brine in Germany.

The commercial operations will serve the growing demand for lithium from vehicle manufacturers for electric vehicle batteries as well as energy storage batteries to support increased electricity demand and balance the grid from increased energy integration of renewable.

Designed for durability. IBAT's first patented, modular, mobile lithium extraction plant has also been independently verified to extract more than 97% of available lithium from brine. Further, laboratory and field tests have shown that the plant's effective selective absorber maximizes lithium uptake and minimizes brine-based impurities. Due to the plant's advanced water recovery rate, IBAT's technology is highly protective of sensitive water resources. IBAT has demonstrated that the technology can extract lithium from underground brine sources and return the lithium-depleted brine to the same underground aquifer in a closed recycling loop. This work has been verified by natural brine in CanadaUnited States, Argentina, Chile, Mexico AND Europe. Other than using acid and base for pH control, IBAT's compact lithium extraction process does not introduce chemicals into the brine. This unique patented technology promises faster delivery of lithium chloride while ensuring minimal environmental impact.

Small footprint, high performance. Another benefit is that the modular, easily transportable technology can operate within a three-hectare site, a significantly smaller footprint than other types of lithium production facilities. The modular and compact design optimizes plant construction and operating costs. Engineering reviews have determined that the design capacity of the IBAT DLE plant is capable of initially producing up to 5,000 metric tons/year, depending on brine resource characteristics such as lithium concentration and brine salt composition. The modular plant can also be expanded to accommodate larger capacity on demand.

Modular DLE operations position IBAT as a key supplier to growing US lithium demand, providing an alternative to China and other global suppliers. This proven technology will produce at commercial scale with a smaller footprint in terms of both facility size and environmental impact.

“International Battery Metals' patented Modular Extraction Technology will be the basis of future lithium extraction from brine sources worldwide. It is the fastest technology to deploy and start commercial operations,” said Dr . John Burba, founder, CTO and director of International Battery Metals. “Furthermore, its inherent efficiency and environmental protection characteristics make IBAT's technology superior to existing DLE operations. We are very excited about the deployment of our first plant at a source and the expected start of commercial operations. “

The agreement provides IBAT with royalties from US Mag based on lithium sales, as well as payments for equipment operations based on lithium prices and performance.

About International Battery Metals Ltd.

IBAT is an advanced technology company focused on developing environmentally responsible methods for extracting lithium compounds from brine. IBAT has developed a patented modular Direct Lithium Extraction (DLE) plant, which allows rapid deployment at a production site of resource holders. IBAT is working with resource holders of oil field brines, brine aquifers and industrial customers with brine byproducts. IBAT believes the modular design of its DLE plant offers significant upfront cost savings to customers, and proprietary DLE technology lowers operating costs by selectively extracting lithium from brine while efficiently removing contaminants.

ON BEHALF OF THE BOARD

Garry FlowersCEO,

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SOURCE International Battery Metals Ltd.