5E Advanced Materials Commences Commercial Production At 5E Boron Americas Complex

Full plant commissioning and initiation of commercial boric acid production marks the achievement of significant operational and strategic milestone

HESPERIA, Calif., April 02, 2024 (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 Complex, today announced the Company’s operations team has successfully commissioned the facility and has launched full commercial operations. The Company began well-field injection on January 1^st, 2024.

Key Highlights:

• 5E Boron Americas Complex is fully commissioned and has now transitioned to operational status.
• Final electrical work was completed by external engineering contractors as of March 15^th.
• Over 50,000 gallons of PLS has been accumulated since mining commencement.
• Independent 3^rd party analysis conducted inductively couple plasma mass spectrometry analysis (“ICP”) and confirms run-of-mine head grade of 5.5%.

• The small-scale facility will:
  • Initially produce 2,000 short tons of boric acid and targeting initial production of lithium carbonate, with plans to scale up to a run rate of 9,000 short tons and increase lithium production.
  • Is now being run 24/7 as shift operators are trained and staffed.
  • Provide high-quality commercial product for customer qualification to secure offtake contracts and funding for phase one operations.
  • The Company’s Lithium Skid Unit was delivered to site with expectation of integrating into facility in the near-term.

Susan Brennan, Chief Executive Officer at 5E Advanced Materials, stated, “I am proud to announce that 5E has achieved the most significant milestone in our Company’s history, as we have recently commenced commercial production of boric acid at the 5E Boron America’s Complex. This is a significant strategic step forward in the company’s evolution, and the initial results affirm the high-quality boric acid resource and further validate our initial operational assumptions, representing the foundation of our project economics. We expect our operational progress and success to build throughout the year, facilitating discussions with stakeholders around funding options for the Phase 1 commercial facility and executing commercial contracts.”