Investee Company Update: CleanTech Lithium

In brief · summary, not quotable

Metals One Plc notes an update from its investee company, CleanTech Lithium, regarding an increased resource estimate for the Laguna Verde project, now standing at 1.9 million tonnes of Lithium Carbonate Equivalent, a 17% rise from the previous 1.63 million tonnes. This enhancement, driven by the acquisition of additional licences, includes 0.84 million tonnes in the Measured and Indicated categories. Metals One holds approximately 10.7% of CleanTech Lithium's issued share capital, and this development is seen as encouraging for the Laguna Verde project's potential as a key supplier to the EV and battery markets.

Full announcement

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Metals One (AIM: MET1), a critical and precious metals exploration and development company, is pleased to note an announcement today by CleanTech Lithium (AIM: CTL, Frankfurt:T2N) of an updated resource estimate for its Laguna Verde project following the recent acquisition of additional licences at the project. Laguna Verde is one of the six salars selected by the Chilean Government to be prioritised for development by private companies.

Metals One owns approximately 10.7% of CleanTech Lithium's issued share capital.

The highlights from CleanTech Lithium's announcement follow below, and its full announcement can be viewed via CleanTech Lithium's website at https://ctlithium.com/investors/rns-news/.

Highlights

The mineral resource estimate is updated from that reported on 20 Jan 2025, based on the recent acquisition of additional licences at the project, as reported to the market on 11 Aug 2025
The updated total resource is 1.9 million tonnes of Lithium Carbonate Equivalent (LCE), at a grade of 174 mg/L lithium, a 17% increase from the previous total resource of 1.63 million tonnes of LCE
0.84 million tonnes of LCE is in the Measured + Indicated category at a grade of 178 mg/L lithium
The additional licences were acquired to meet the Government's licence area requirement for entering the streamlined process for a Special Lithium Operating Contract (CEOL)
The Chilean government is finalising the indigenous community consultations for Laguna Verde and it is expected that the streamlined process will be announced shortly afterwards
The JORC (2012) compliant estimate was calculated by Montgomery & Associates ("Montgomery´" or "M&A"), a leading hydrogeological consultant highly experienced in lithium brine resource estimation
The resource estimate is based on three years of annual exploration programmes completed by CTL from 2022-2024 including drill progammes, pump test programmes and geophysics surveys
Montgomery recommends three additional drillholes in the southwest, north and northeast to potentially increase the resource
The Measured and Indicated resource estimate will be used in the ongoing pre-feasibility study (PFS) which is intended to underpin a maiden reserve estimate for the Laguna Verde project

Daniel Maling, Managing Director of Metals One, commented:

"As an investor in CleanTech Lithium, Metals One is very encouraged by the updated JORC-compliant resource estimate for the Laguna Verde project which underscores the strength and scale of this asset. With the Pre-Feasibility Study advancing, this update reinforces our view that Laguna Verde is emerging as one of Chile's most promising direct lithium extraction (DLE) projects and a potential key supplier to the growing global EV and battery markets."

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