Full Circle Lithium secures second client for future production of lithium using its leading lithium extraction and processing technology

Full Circle Lithium Corp., a USA-based lithium products manufacturer and recycler with a highly experienced technical team is pleased to report it has signed a second detailed commercial term sheet, containing 9-month binding exclusivity, with a US based specialty industrial and chemicals company (“IndustrialCo2”) to extract lithium from its lithium-bearing brine and make saleable lithium products therefrom.

Initial lab work performed by FCL demonstrated that its proprietary direct lithium extraction processing technology successfully extracted lithium from IndustrialCo2’s brine. FCL has now commenced technical and economic feasibility test work. Following the successful results of this feasibility work, FCL would build a second commercial-scale plant and deploy it to IndustrialCo2’s facilities, which would extract lithium from IndustrialCo2’s brine and convert it to lithium chloride.

The lithium chloride extracted from IndustrialCo2’s lithium brine would be transported to FCL’s fully permitted and operational lithium carbonate production plant in Nahunta Georgia to make saleable lithium products which FCL would then sell into the market. The Company believes that up to 300 tonnes of lithium carbonate per year can be recovered from IndustrialCo2’s brine. The target timeline for full commercial production at IndustrialCo2 is estimated to be the end of 2024.

Carlos Vicens, Founder and CEO stated: “After our initial success with our first client we are building on our lithium midstream recycling business utilizing our scalable proprietary technology as well as our installed lithium carbonate refinery capacity. This is the backbone of our business and, if all technical and economic work is favourable, will provide significant potential value and necessary feedstock for our plant.”

Initial lab and piloting work is ongoing at the Georgia facility and sampling has been received. The corresponding economic work will be done after technical parameters are established with IndutrialCo2. The Company is also working with several other potential clients and will provide progress updates as soon as they become available.