5E Advanced Materials Announces Successful Completion of Step-Rate Testing

The Company has completed the Step-Rate Testing Program across all four production wells and will now seek final approval from the EPA to begin operations

HESPERIA, Calif., Oct. 16, 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 successful completion of Step-Rate Testing (“SRT”), a condition required under its existing Underground Injection Control (UIC) permit following a recent approval from the Environmental Protection Agency (“EPA”).

The scope of work was conducted over the course of seven days, with successful completion of all requisite testing. The Company was able to verify ore body fracture pressures to help set the maximum operating pressures, confirm the overall porosity of the ore body, while gathering meaningful data to assist in wellfield planning and drive anticipated wellfield performance ahead of our extraction operations. The testing followed EPA-approved protocols, and the data output and associated reports will be sent to EPA in the near term for final review and confirmation. The Company expects that upon the completion of the EPA’s review of the Step-Rate Testing data, the Company will be able to secure final authorization to inject acid into the wellfield, commencing mining and plant operations at its 5E Boron Americas site.

“We are extremely happy with the speed and execution of our Step-Rate Testing program, where our testing protocol produced the necessary data needed for EPA review, moving us closer to launching our mining operations,” said Chris Knight, VP of Operations at 5E Advanced Materials. “The data from our hydrogeologists not only confirms our ability to safely and securely run our extraction operations, but also provided meaningful data that will be utilized operationally and in future wellfield optimization work.”

Susan Brennan, Chief Executive Officer of 5E Advanced Materials commented, “We look forward to continued collaboration with the EPA as we turn over our results to the Agency and continue to pursue our strategic, operational, and commercial goals. With successful completion of the EPA-approved testing protocols now complete, we are making significant strides in our project execution. 5E will continue to build on the positive momentum we have generated as we execute our vision to become a leading global producer and supplier of boric acid and lithium.”