Lifezone Metals Achieves First Nickel, Copper, and Cobalt Production at Kabanga Nickel Project

Lifezone Metals Limited’s (NYSE: LZM) Chief Executive Officer, Chris Showalter, and Chief Technology Officer, Dr. Mike Adams, are delighted to announce that Lifezone has successfully produced nickel, copper, and cobalt cathode samples through semi-continuous pilot-scale refinery testing at the Company’s Simulus Laboratory in Perth, Australia. These metals were extracted from flotation concentrate derived from borehole core samples at the Kabanga Nickel Project in north-west Tanzania.

This milestone represents the first metal production from Kabanga mineralization since the deposit was initially discovered in 1975 by the United Nations Development Program.

Mr. Showalter stated, “The initial production of refined nickel, copper, and cobalt cathode from the Kabanga Nickel Project represents a historic milestone for both the Project and Lifezone.” This achievement, stemming from extensive testing at our in-house laboratory, underscores our dedication to innovation and our mission to bring this world-class resource to market. It lays a strong foundation for the future of Kabanga and the Kahama Refinery, securing high-quality and sustainable metals production in Tanzania.”

Dr. Mike Adams added: “Producing nickel, copper, and cobalt cathode samples from the Kabanga Nickel Project is a groundbreaking achievement by our team at Simulus Laboratory. This achievement highlights the effectiveness of our hydrometallurgical techniques and our dedication to sustainable metal production. The pilot plant has performed exceptionally well, closely matching our process simulation models, and we are optimistic about the positive impact this will have on the Kabanga Nickel Project and future operations at the Kahama Refinery.”

Extensive batch, locked-cycle, and semi-continuous pilot plant test work has been conducted to process Kabanga flotation concentrate into refined nickel, copper, and cobalt metals, confirming the design criteria for the Kahama refinery. The pilot plant has met performance expectations, aligning with both internal and vendor-supplied process simulation models. Leach extractions were high and consistent with previously reported figures. Data analysis, mass balancing, and Quality Assurance/Quality Control activities are ongoing, and full product assays are still pending.

Simulus is a world-leading hydrometallurgical laboratory, specializing in testing and engineering design. By integrating their highly skilled technicians, engineers, and assets into Lifezone in 2023, Lifezone has significantly reduced laboratory testing times, avoided common delays associated with external laboratories, safeguarded IP confidentiality, and better controlled costs.

Lifezone Metals' mission is to deliver cleaner and more responsible metals production and recycling. Utilizing a scalable platform powered by the company's Hydromet Technology, they offer metals production that requires less energy, emits fewer emissions, and incurs lower costs compared to traditional smelting methods.