Vulcan Energy Resources Ltd (VULNF)

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Landau geothermal plant brine offtake agreement
• In addition to the acquisition of Insheim, Vulcan Energy has executed a 20-year brine offtake
agreement with geox GmbH, the operational Landau geothermal renewable energy plant in the
Upper Rhine Valley owned by the IKAV Group, a Luxembourg-based renewable energy fund
manager and operator.
• Under the terms of the agreement, Vulcan has the right to purchase and extract the lithium from
the brine produced from Landau, and return it to the plant for re-injection, with expected brine
volume from the production well of at least 100 l/s, subject to the financing and drilling of a reinjection well which can accommodate the current production well flow, and with an offtake
start date of 30 December 2024.
• The existing production well at Landau has the tested ability to produce at a rate of over 100 l/s,
but an additional re-injection well is planned to help accommodate this flow.
• In addition, subject to obtaining the relevant permissions from the authorities, the Landau plant
will provide access to accommodate Vulcan’s demonstration lithium extraction plant, with a
target start-up date of Q2 2022. Vulcan has been successfully operating its first lithium extraction
pilot plant at Landau since April 2021. Lithium grades in the brine from Landau well GTLA-1 are
approximately 180 mg/l Li (Sanjuan et al, 2016). Vulcan will seek, subject to positive feasibility
studies, to incorporate this offtake agreement into its Phase 1 development plans