International Battery Metals Ltd (IBATF)

[agblanco]

The Company’s current operations consist of the development of a modular direct lithium extraction plant
(“MDLE Plant”) which can be rapidly deployed and assembled onsite at a customers’ property. The MDLE
Plant is designed to process brine solutions to extract lithium chloride which can be further processed into
lithium carbonate and used for industrial purposes or as a battery component. The Company constructed
the first MDLE Plant in Lake Charles, Louisiana where it performed feasibility testing and was made
available for demonstration to potential customers. Additionally, the Company is developing a second
generation MDLE Plant which will provide customers with the option to greatly increase the scale of the
MDLE Plant’s capacity to process brine solutions and increase lithium chloride production.
In January 2024, the Company entered a term sheet with a customer (the “Customer”) to operate the first
MDLE Plant at the Customer’s location in the Western United States. The Company is currently mobilizing
the MDLE Plant to the Customer’s locations and anticipates that the MDLE Plant will be integrated into
the Customer’s facilities in March 2024 to commence phase one testing and acceptance. The Company is
targeting an initial production capacity of sufficient lithium chloride to produce 4,000 metric tons of lithium
carbonate per annum. The Customer has onsite facilities to convert the lithium chloride to lithium
carbonate. (Source: Canadian regulatory filing.)