Volt Lithium Announces Expanded Capabilities Beyond Rainbow Lake Enabling Oilfield Brine Processing From Across North America

CALGARY, Alberta, Oct. 24, 2023 (GLOBE NEWSWIRE) -- Volt Lithium Corp. (TSXV: VLT) ("Volt" or the "Company") is pleased to provide an operational update that confirms a continued acceleration of the Company’s business strategy centered on achieving commercial extraction of lithium from oilfield brines across North America. Pilot plant operations (the “Pilot”) for Volt’s flagship Rainbow Lake Lithium Project (“Rainbow Lake”) in Northwest Alberta were successfully conducted in the spring of 2023 at our Regina, Saskatchewan facilities. Building on this Pilot, the Company has commissioned our permanent Demonstration Plant which is capable of testing oilfield brines from multiple basins across North America in real-time.

This permanent Demonstration Plant incorporates technology improvements over the proven Pilot plant for the Rainbow Lake brine, thereby opening up a vast market opportunity to process oilfield brines from any basin across North America. This effectively enables Volt to use our proprietary DLE technology to extract lithium regardless of the brine’s original lithium concentrations. Outcomes from the permanent Demonstration Plant are expected to also inform the Company’s preliminary economic assessment (the “PEA”) for Rainbow Lake.

Commissioning of Permanent Demonstration Plant

One of the most important outcomes from the previously announced collaborations that Volt has with the Zeng Lab and the Advanced Water Treatment Lab, both based out of the University of Alberta in Edmonton, Alberta (the “Collaborations”) is Volt’s ability to now extract lithium from oilfield brines produced all across North America, over and above Rainbow Lake. The technological advancements Volt realized from both the Pilot and the Collaborations over the summer of 2023 were incorporated into the design and development of the Company’s permanent Demonstration Plant.

Volt directed a portion of the proceeds generated through a recent financing to the commissioning of equipment required for our permanent Demonstration Plant. The location for the permanent Demonstration Plant in Calgary, Alberta was selected during the third quarter of 2023, and it now serves as our anchor facility for processing brines. The permanent Demonstration Plant simulates field conditions for extracting lithium from oilfield brines and converting into lithium hydroxide and lithium carbonates.