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Georgia Lake, Canada - Nov 16, 2022

Georgia Lake Project: Pre-Feasibility Study published

An Indicated Mineral Resource of 10.6 million tonnes of lithium oxide and an additional Inferred Mineral Resource of 4.2 million tonnes – that is one fact that the Rock Tech Lithium’s Pre-Feasibility Study outlines for its 100%-ownedGeorgia Lake Project in Ontario, Canada. Together, with a 1,000,000 tonne-per-annum spodumene concentrator, the pre-tax net present value is 223 million US-Dollar and supports the viability of lithium mining activities and the concentration of spodumene.

Rock Tech’s CEO, Dirk Harbecke said, “These results support the integration of Georgia Lake with the downstream conversion industry, where we have been building strong partnerships and extensive know-how. The encouraging results also demonstrate that we are well positioned to explore potential fields of collaboration in the North American and European EV supply chain”.

The Georgia Lake Project plays a key role in Rock Tech’s further development. In addition to the opportunity of selling the average annual production of approximately 100,000 tonnes of spodumene concentrate, Rock Tech intends to deepen and shape a vertically integrated strategy, connecting mining and concentration with its own proposed converter operations in Germany, or a company owned-and-operated converter in North America.

**HIGHLIGHTS **

  • Estimated pre-tax net present value at an 8% discount rate (“NPV”) of USD 223 million at an average life of mine (“LOM”) price of USD 1,500/t, 6% spodumene concentrate (“SC6”).
  • Estimated pre-tax internal rate of return (“IRR”) of 47.8% at an average LOM price of USD 1,500/t, SC6.
  • Update to Mineral Resource Estimate: Total indicated mineral resources of 10.6mt grading 0.88% Li2O and a total inferred mineral resources of 4.2mt grading 1.00% Li2O.
  • Pre-production costs estimated at USD 192.2 million and sustaining capital costs of USD 98.5 million (including closure costs).
  • Average annual spodumene concentrate production of approximately 100,000 t of SC6.

The study, which consists of the construction and operation of a 1,000,000 tonne-per-annum concentrator, a 4-year open pit and subsequent 5-year underground mining operation, and a total Probable Mineral Reserves of 7,3 million tonnes grading 0,82% lithium oxide, has generated a positive economic outcome. As a result, the company intends to advance and optimize the project.

Future efforts to add value are expected to include upgrading the Mineral Resource and Mineral Reserve estimates through exploration drilling, optimizing mining operations with the opportunity to become owner-operated, and enhancing infrastructure detail through support from the Company’s indigenous partners to reduce capital costs and increase operational efficiency.

A comprehensive summary of the Pre-Feasibility Study is available at the press section of the website and at the company’s profile on www.sedar.com

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Rock Tech Lithium Inc. 2400-333 Bay Street Toronto ON M5H 2T6

(778) 358-5200

info@rocktechlithium.com

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ROCK TECH LITHIUM INC.