Palm Beach, FL – June 20, 2023 – FinancialNewsMedia.com News Commentary – Lithium-ion batteries are currently the dominant technology for energy storage. Industry reports say that, over the next several years, dynamic emission standards and changing government policies with respect to electric vehicles are anticipated to provide a positive outlook to the lithium mining industry. One such report, from Fact.MR projected that: “Lithium Mining Revenues to Attain USD 3.1 Billion by 2031.” It added that over the next ten years, the worldwide lithium mining industry is expected to grow at a 7% by 2031.  The report said: “(Even though) Globally, operations in the lithium mining business have been scaled back during COVID-19… but following this collapse, the market has fully recovered.  There are several drivers for the lithium mining market, including:  The increasing demand for electric vehicles, smartphones, and other electronic devices that use lithium-ion batteries is driving the demand for lithium. Lithium is a key component of these batteries, and as the demand for these products grows, so does the demand for lithium.  Governments across the globe are promoting the use of electric vehicles as a means of reducing carbon emissions and achieving climate change targets. This has led to increased investment in the development of electric vehicle infrastructure and the expansion of lithium-ion battery production capacity.”  Active mining companies in the markets this week include:  Indigo Exploration Inc. (OTCQB: IXIXF) (TSX-V: IXI), Patriot Battery Metals Inc. (OTCQX: PMETF) (TSX-V: PMET), Livent Corporation (NYSE: LTHM), Alpha Lithium Corporation (OTCPK: APHLF) (NEO: ALLI), Lithium Americas Corp. (NYSE: LAC) (TSX: LAC).

Fact.MR continued: “Lithium-ion batteries are increasingly being used for energy storage systems, particularly in renewable energy applications. As the use of renewable energy grows, the demand for lithium is expected to increase as well.  Emerging markets such as China and India are seeing rapid growth in the adoption of electric vehicles and renewable energy, which is driving demand for lithium.  As technology improves, the use of lithium-ion batteries is becoming more efficient, leading to increased demand for high-quality lithium.  Overall, the growing demand for lithium-ion batteries, coupled with government initiatives to promote renewable energy and electric vehicles, is expected to drive the growth of the lithium mining market in the coming years.”

Indigo Exploration Inc. (OTCQB: IXIXF) (TSX-V: IXI) BREAKING NEWS:  Indigo Engages Industry-Leading DLE Provider for Initial Lithium Brine Recovery Tests – Indigo Exploration Inc. (the “Company”) is pleased to announce the selection of Sunresin New Materials (“Sunresin”) to conduct initial Direct Lithium Extraction (“DLE”) testwork for the Company’s petro-lithium brines. Approximately 150 litres of brine will be collected from each project area, namely the Fox Creek East and Fox Creek West (collectively the “Fox Creek Project”), and shipped to Sunresin’s pilot plant located in Xi’an, China, for recovery tests under the supervision of Company representatives. Sunresin offers a proprietary, end-to-end solution for the processing of brine to finished products (lithium carbonate [Li₂CO₃] and lithium hydroxide [LiOH]) with over a decade of experience and successfully executed nine commercial DLE contracts representing over 73,000 tonnes of lithium carbonate equivalent. Due to unforeseen scheduling conflicts with the various contractors, the Fox Creek sampling program is now scheduled to commence June 26.

“With significant investments made into the field of direct lithium extraction combined with the plethora of available off-the-shelf solutions in the marketplace, we are focusing our efforts on exploration and development without the added distraction of trying to reinvent a proprietary DLE solution” commented Paul Cowley, CEO and Director of Indigo Exploration. “Our in-house metallurgical advisory board has identified Sunresin as the preeminent end-to-end EPC (engineering, procurement and construction) provider in the market. In order to deliver the most representative results from their DLE process and expedite the advancement of our project timelines, we will be using a sizable 300 litre sample of brine collected from the Fox Creek Project as opposed to a synthetic sample of a much smaller quantity. Our team believes this will provide us with the best quality, real-world data on the process and recovery characteristics.”  CONTINUED… Read this and more news for Indigo Exploration at:  https://www.indigoexploration.com/news/news-2023

In other market news of interest:

Patriot Battery Metals Inc. (OTCQX: PMETF)  (TSX-V: PMET) recently announced core assays for the next series of drill holes completed as part of the 2023 winter drill program, which recently concluded, at its wholly owned Corvette Property (the “Property”), located in the Eeyou Istchee James Bay region of Quebec. The winter phase of the 2023 drill campaign was focused on the CV5 Pegmatite, located approximately 13.5 km south of the regional and all-weather Trans-Taiga Road and powerline infrastructure.

The 2023 winter drill program recently concluded with a total of 89 drill holes and 32,367 m completed – drill holes CV23-105 through 190. Through the 2023 winter program, the CV5 Pegmatite has now been traced continuously by drilling (at approximately 50 to 150 m spacing) as a principally continuous spodumene-mineralized body over a lateral distance of at least 3.7 km (CV23-184 to CV23-125) and remains open along strike at both ends and to depth along most of its length.

Livent Corporation (NYSE: LTHM) recently reported results for the first quarter of 2023.  First quarter revenue was $253.5 million, up 16% and up 77% from the fourth quarter of 2022 and the prior year’s quarter, respectively.  Reported GAAP net income was $114.8 million, compared to $82.7 million and $53.2 million in the previous quarter and the prior year’s quarter, respectively, or 55 cents per diluted share.  Adjusted EBITDA was $157.4 million, 46% above the previous quarter and roughly three times the prior year’s quarter, and adjusted earnings per diluted share were 60 cents.  Continued strength in customer demand supported higher average realized prices across all products in the first quarter.

“Livent achieved record revenue and profitability in the first quarter driven by higher realized lithium pricing and strong demand from our customers,” said Paul Graves, president and chief executive officer of Livent.  “We continue to expect strong financial performance in 2023 supported by pricing visibility from existing customer contracts.  The Company remains on schedule to deliver its announced capacity expansions, which will result in an incremental 4,000 metric tons of volume available for sale in 2023, and an incremental 10,000 metrics tons available in 2024 year-over-year.  We continue to work closely with our customers who remain focused on securing larger and longer-term volume commitments from us.”

Alpha Lithium Corporation (OTCPK: APHLF) (NEO: ALLI) recently announced that it has received an unsolicited takeover bid from TechEnergy Lithium Canada Inc., a subsidiary formed five days ago by the Spanish firm Tecpetrol Investments S.L. (“Tecpetrol”) (the “Tecpetrol Offer”).

The board of directors of Alpha Lithium (the “Board”) and its special committee of independent directors (the “Special Committee”) will review the Tecpetrol Offer and related takeover bid circular with their financial and legal advisors; after which, the Board will respond in detail and make a recommendation to the Company’s shareholders through a news release and a directors’ circular, in accordance with applicable securities laws, within the next 15 calendar days.

Lithium Americas Corp. (NYSE: LAC) (TSX: LAC) recently reported that the Caucharí-Olaroz project (“Caucharí-Olaroz” or the “Project”) in Jujuy, Argentina has produced its first lower than battery-quality lithium carbonate as part of commissioning. Additional purification processing equipment necessary to achieve battery-quality lithium carbonate is expected to be completed in the second half of 2023, as planned.

“The initial production achieved as part of commissioning is an exciting step as Caucharí-Olaroz continues to advance toward first production of battery-quality lithium carbonate,” said Jonathan Evans, Lithium Americas’ President and CEO. “Our dedicated and skilled teams continue to work diligently to progress this transformative project.”

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