American Battery Materials Provides Corporate Update

Management Continues Rapid Pace of Operational Execution; Pursuing Uplist to a Senior Exchange in 2024

GREENWICH, Conn., Nov. 22, 2023 (GLOBE NEWSWIRE) -- American Battery Materials, Inc. (OTC Pink: BLTH) (“ABM”, the “Company”), an environmentally responsible minerals exploration and development company focused on direct lithium extraction (DLE) and other critical minerals for the global energy transition, today provided a brief corporate update to shareholders from David Graber, Chairman and Co-Chief Executive Officer, and Sebastian Lux Co-Chief Executive Officer.

Dear Shareholders,

As we continue to drive forward operational momentum at our Lisbon Valley Lithium Project, we wanted to provide shareholders with an update on our operations, recent macro-economic catalysts driving the need for lithium, our decision to terminate the proposed SPAC transaction and our path to listing on a senior U.S. exchange – such as the NASDAQ or New York Stock Exchange.

Lithium is a Generational Opportunity

The transformation to a clean energy economy has driven a generational opportunity in lithium, propelled by government incentives as well as rapid consumer adoption of battery electric vehicles and home energy storage systems. Despite this momentum, the United States is almost entirely dependent on foreign sources for its lithium needs. The post-COVID world has clearly illustrated the dangers of long, obscure supply chains – making the achievement of U.S. lithium independence more important than ever.

Given these catalysts, the demand for lithium is expected to grow exponentially to nearly 4,000 Kilotons of lithium carbonate equivalent annually by 2030, with global demand expected to severely outstrip supply in the coming years. These structural tailwinds can be clearly seen in global lithium pricing, which has soared from less than $10,000/mt to a high of over $80,000/mt in late 2022, settling around $20,000/mt today.

DLE: A Superior Approach to Lithium Extraction

Our approach to lithium extraction is clearly differentiated and represents a clear structural advantage to ABM. Traditional lithium mining requires large pools to extract lithium from the brine, which faces significant hurdles including environmental damage, potential regulatory issues, and often controversial mining practices. We do not believe that the environmental damage aspect will continue to be overlooked, particularly in the United States, and are seeking to deploy Direct Lithium Extraction (“DLE”), which provides an efficient, more sustainable, and faster-to-production method as compared to legacy hard-rock mining strategies.