Lithium Universe Provides Update on Becancour Lithium Refinery Project

Lithium Universe has provided a progress update on its Becancour Lithium Refinery Project. The project is advancing as planned, with key milestones being achieved, including the finalization of the plant layout, issuing technical specifications for capex estimation, and progressing with supplier quotations. Environmental site visits and studies have identified no significant issues, and the transition of Hatch's project management from Brisbane to Montreal is proceeding smoothly. Early contractor engagement and strategic risk management are in place to mitigate potential delays, ensuring the project remains on schedule.

Highlights:

• The project is advancing well and remains on track.
• Engineering milestones include finalizing the plant layout and preparing documentation for equipment packages.
• Procurement priority one packages for quotes are about 60% complete.
• Early contractor engagement and strategic risk assignment are in place.
• Environmental work is progressing with no significant issues identified.
• Strong engagement from Federal, Provincial, and Local Governments.
• The Becancour Lithium Refinery aligns well with Provincial strategy and enjoys mature local government support.

Procurement:
Procurement activities are underway, with technical specifications sent to suppliers for detailed quotations to build the capex estimation. For priority one mechanical equipment, nine packages have been issued, with seven offers received and currently under evaluation. Five priority one electrical equipment supply packages will be issued for inquiry within the next week, aiming to evaluate all priority one packages by the end of September. The tenderer list for electrical transformers will be expanded to reduce lead times.

Engineering:
Major engineering activities include finalizing the plant layout, preparing documentation for equipment packages, and creating the main power distribution single line diagram. Proposals received are being reviewed to ensure compliance with project requirements. Effective handling of process effluent and site runoff is a critical focus area. Development of the package register, material take-offs (MTOs), and comprehensive equipment lists are ongoing.

Plant Layout:
The first release of the plant layout has been published, with several features still under development, including new plant areas such as the boiler plant and process effluent treatment. Structural framing of buildings, HVAC systems, and civil works encompassing drainage, road pavements, vehicle paths, sedimentation ponds, and car parking are in progress. Efforts are being made to enhance spodumene and residue storage, focusing on materials handling and capacity, with the routing of major pipe and cable racks also being planned. The layout is designed with environmental constraints in mind to ensure compliance and sustainability.

Environmental Work:
Field inventories to develop knowledge of the site's biodiversity are actively ongoing, with four field campaigns completed to survey short-eared owls, breeding birds, fish and fish habitat, and wetlands. Preliminary results indicate no species at risk or of concern under the Canadian Species at Risk Act (SARA). The project team is optimizing the site layout to reduce encroachment on wetlands. A Phase I study on previous site uses is progressing, with no potential environmental liability identified so far. The Phase I Study is expected to be completed by the end of July. Preparation of permitting documents will commence in the coming months to ensure compliance with formal approval processes.