Argosy Successfully Obtains EIA Approval for Rincon Lithium Project Expansion

Argosy Minerals Limited (ASX: AGY) ("Argosy" or the "Company") is delighted to announce that it has received official approval, signed by the Government of Salta Province and the Secretary of Mining and Energy, to proceed with the development of the 10,000tpa lithium carbonate expansion operation at our Rincon Lithium Project. This approval aligns with the operational conditions outlined in the formally executed notice, based on the Environmental Impact Assessment submission by the Company.

This official endorsement confirms that the Company has obtained all the requisite approvals necessary for the development of the 10,000tpa expansion operation at the Rincon project site.

Jerko Zuvela, Managing Director of Argosy, expressed gratitude towards the regulatory authorities of Salta Province, particularly the Secretary of Mining and Energy and her team. He emphasized the Company's extensive efforts in the Environmental Impact Assessment (EIA) process to demonstrate the long-term sustainability of the project. Zuvela highlighted this achievement as a significant milestone and extended appreciation to the team, while also expressing anticipation for the completion of upcoming milestones.

With the EIA approval in hand, the Company can confidently proceed with its strategic partner process, significantly reducing risks for potential strategic partners interested in participating in the development of the next 10,000tpa stage of our Rincon Project. 

This notable achievement reaffirms Argosy's aspirations and imminent growth phase aimed at the complete development of the Rincon Lithium Project.

The Company has received approval to develop and manufacture lithium carbonate products at a capacity of up to 12,000tpa at our Rincon Project. Additionally, the Company will intensify its efforts to advance pre-development engineering works for the 10,000tpa operational expansion, gearing up for the Financial Investment Decision (FID).

The Company will accelerate the strategic partner process to secure funding through prepayment (or similar) investments tied to long-term off-take agreements from a top-tier counterparty in the electric vehicle (EV) supply chain.

Argosy Minerals Limited (ASX: AGY) is an Australian company holding a current 77.5% interest (with a potential 90% ultimate interest) in the Rincon Lithium Project situated in Salta Province, Argentina, and holds a 100% interest in the Tonopah Lithium Project located in Nevada, USA. The Company prioritizes its flagship Rincon Lithium Project, strategically positioned within the globally renowned "Lithium Triangle," home to the world's largest lithium reserves, and pursues a rapid development strategy towards lithium carbonate equivalent (LCE) production. Argosy is dedicated to establishing a sustainable lithium production enterprise, strongly positioned to capitalize on the projected growth in the lithium-ion battery sector.