Volt Lithium Enhances Production with New Field Unit in Permian Basin, Reaching 200,000 Litres Daily

Volt Lithium Corp. announces the successful deployment and installation of its inaugural Field Unit in Texas's Permian Basin, marking the commencement of its lithium production testing. This new Field Unit is set to process over 200,000 litres (1,250 barrels) of oilfield brine per day, doubling Volt's previous processing capacity of 96,000 litres (600 barrels) per day, as reported on July 17, 2024.

Alex Wylie, President & CEO of Volt Lithium, expressed enthusiasm about the successful deployment, installation, and initial function-testing of their Field Unit at a key partner's site in West Texas's Permian Basin. “The launch of this Field Unit represents a major milestone in our strategy to become one of North America's leading commercial producers of lithium from oilfield brine,” Wylie stated. “This achievement marks a crucial turning point for Volt, positioning us to begin Direct Lithium Extraction (DLE) operations in the field by Q3 2024, as previously indicated. We are eager to share further updates as we advance.”

In August 2024, Volt successfully deployed and installed its Field Unit in the Permian Basin, achieving a 1:83 scale relative to future commercial production. After completing the installation, the Company began function-testing the unit, setting Volt on a straightforward path toward full-scale commercialization in the near future.

Building on the success of Volt’s previous scale-up initiatives at its Field Simulation Centre in Calgary, Alberta, the Company has developed a next-generation Field Unit capable of processing over 200,000 liters (1,250 barrels) of oilfield brine per day. This modular Field Unit allows Volt to scale up cost-effectively and efficiently for commercial brine processing by:

a.            Adding modules to boost processing capacity;

b.            Reducing lithium extraction time to handle larger volumes;

c.             Implementing larger extraction modules.

According to the comprehensive historical modeling conducted by the Company’s engineering team, Volt plans to progressively scale up its initial field unit over the next year to reach a commercial production level of 100,000 barrels per day. This strategy will establish the Company as a near-market, low-cost, and fully operational commercial producer.

Volt’s business model and strategic approach offer distinct competitive advantages irrespective of the broader economic climate. The Company’s phased scale-up strategy, rigorous testing at its Field Simulation Centre, and strategic investment partnerships, combined with a low operating cost structure, enable it to manage project execution risks effectively while expediting the path to full-scale commercialization. Furthermore, this strategy reduces the capital at risk and provides an opportunity for further validation of Volt’s proprietary DLE technology before it reaches full-scale production.

Volt has granted a total of 500,000 stock options (the "Options") to new employees, allowing them to purchase 500,000 common shares (the “Shares”) in the Company under Volt’s stock option plan. The Options will vest over a six-month period and can be exercised at a price of $0.44 per Share for up to four years, with an expiration date of August 25, 2028.

These grants serve as both compensation for the individuals and consultants for their services and as an incentive to align their interests with the long-term success of Volt.