5E Advanced Materials Commences Step-Rate Testing Following Approval from the Environmental Protection Agency

Step-Rate Testing (SRT) will commence on October 9, 2023, a condition under the Company’s Underground Injection Control (UIC) permit

HESPERIA, Calif., Oct. 08, 2023 (GLOBE NEWSWIRE) -- 5E Advanced Materials, Inc. (Nasdaq: FEAM) (ASX: 5EA) (“5E” or the “Company”), a boron and lithium company with U.S. government Critical Infrastructure designation for its 5E Boron Americas (Fort Cady) Complex, today announced the commencement of Step-Rate Testing (“SRT”) under its existing Underground Injection Control (UIC) permit following recent approval from the Environmental Protection Agency (“EPA”).

This specific testing, which seeks to establish the porosity of the ore body and measure the fracture gradient, will form a base-line parameter for operation of the wellfield. The SRT program will span approximately twelve days, during which a series of water injections will take place in accordance with the EPA-approved testing protocol. Additionally, this testing will also allow the Company to update its groundwater flow model, which will be utilized in future engineering and wellfield design work. Upon completion of Step-Rate Testing, the raw data and reports from the hydrogeologist will be provided to and reviewed by the EPA. Following the EPA’s review, the Company will look to secure authorization to inject acid, and bring the plant operational.

“The commencement of Step-Rate Testing marks a significant milestone in our development sequence and an encouraging step towards operational production and mineral extraction, bringing 5E closer to becoming the first new boric acid producer in decades,” said Susan Brennan, CEO at 5E Advanced Materials. “We would like to acknowledge this culmination of our Company’s persistence and diligence and applaud our team for its significant work to get us here. We look forward to continued collaboration with the EPA as we complete the final steps in our wellfield recovery testing and move forward towards further executing the Company’s vision of becoming a leading global producer and supplier of the critical materials boron and lithium.”

About 5E Advanced Materials, Inc.

5E Advanced Materials, Inc. (Nasdaq: FEAM) (ASX: 5EA) is focused on becoming a vertically integrated global leader and supplier of boron specialty and advanced materials, complemented by lithium co-product production. The Company’s mission is to become a supplier of these critical materials to industries addressing global decarbonization, food and domestic security. Boron and lithium products will target applications in the fields of electric transportation, clean energy infrastructure, such as solar and wind power, fertilizers, and domestic security. The business strategy and objectives are to develop capabilities ranging from upstream extraction and product sales of boric acid, lithium carbonate and potentially other co-products, to downstream boron advanced material processing and development. The business is based on our large domestic boron and lithium resource, which is located in Southern California and designated as Critical Infrastructure by the Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency.