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Standard Lithium Reports First Quarter Fiscal Year 2023 Results, Achieves Key Project Milestone Towards Commercialization, The Canadian Business Journal

VANCOUVER, British Columbia, November 10, 2022 (GLOBE NEWSWIRE) — Standard Lithium Co., Ltd. (“standard lithium” or “Company) (TSXV: SLI) (NYSE: SLI) (FRA: S5L) today reported financial and operating results for the first quarter of the fiscal year ended September 30, 2022.

“Q1 was an important quarter for Standard Lithium, moving our development strategy forward in a meaningful way and continuing this momentum this quarter.” Most importantly, we have won the Front End Engineering and Design (FEED) and Definitive Feasibility Study (DFS) of the first commercial lithium plant, the work is progressing well and the trade-off study Completed, Phase 1A FEED and DFS will be delivered on schedule in the first half of 2023 and will be summarized in the NI 43-101 DFS report.”

Mintak continues: In October, we successfully commissioned a chloride-to-hydroxide conversion pilot plant, the first of its kind. In November, we began a significant resource expansion program involving the redrilling of existing production wells deep in the smackover formation on the west side of the Southwest Arkansas project. In addition, he also received notices of allowance for his first two US patent applications for standard lithium. “

“We have engaged in meaningful dialogue and hosted numerous site visits with the Group over the past few months and are evaluating potential strategic partnerships and supply agreements to support the further development of our project.” ” concluded Mintak. “These initiatives, our continued momentum towards key milestones and our strong cash position allow us to confidently advance our commercial development strategy.”

First Quarter of Fiscal Year 2023 Ended September 30, 2022 Highlights

  • Strong balance sheet – As of September 30, 2022, the Company had total cash on hand of $124 million and a working capital surplus of $121 million.
  • FEED and DFS Win – On September 7, 2022, the Company will complete the FEED and DFS competitive selection process for the first commercial lithium project under development at the LANXESS Property Project and will be awarded a contract with OPD LLC, based in a business owned by Koch. announced that he had won in Katy, Texas.

Notable events after the three months ended September 30, 2022

  • Installed the world’s first chloride-to-hydroxide conversion pilot plant – We have successfully commissioned the first chloride to hydroxide conversion pilot plant of its kind. The plant, which will be installed at a LANXESS property project, will receive lithium chloride feedstock produced in an existing direct lithium extraction (DLE) demonstration plant and convert this feedstock directly into a lithium hydroxide solution using new ions. operates as a self-contained unit that exchange procedure. The successful installation and commissioning of this pilot plan demonstrates the company’s ability to build a new generation lithium plant in North America using new technology solutions.
  • Received Notice of Allowance for First Two U.S. Patent Applications – The United States Patent and Trademark Office (“USPTO”) has issued notices of allowance for the first two US patent applications for Standard Lithium. Serial No. 16/410,523 and Serial No. 16/224/463, both titled “Process for Recovery of Lithium from Brine”, are novel and proprietary techniques for continuous DLE from lithium brine. These US patent applications are two of three pending US patent applications directed to elements of Standard Lithium’s innovative DLE process. A notice of allowance is issued by the USPTO after examining a patent application and determining that a patent should be granted from the application. This notice continues to confirm Standard Lithium’s proprietary lithium extraction technology, and we expect formal registration of these patents to be issued in the coming months.
  • Start drilling for resource expansion – Standard Lithium has conducted extensive geological, geochemical and geophysical surveys of a large area of ​​the Smackover Formation with a focus on significantly expanding the company’s resource holdings. The company and its contractors are currently re-drilling existing production deep in his Smackover Formation, located west of the company’s Southwest Arkansas project.

All filings referenced in this release can be found on our website and in the SEDAR profile at www.sedar.com. All amounts are in Canadian dollars unless otherwise stated.

Consolidated financial statements

The Company’s unaudited interim financial statements and management’s discussion and analysis for the three months ended September 30, 2022 are available on the Company’s website at https://www.standardlithium.com/ and SEDAR and EDGAR. available under the company profile of

About Standard Lithium

Standard Lithium is a leading pre-commercial lithium development company with a portfolio of ongoing projects. Our flagship projects, the LANXESS real estate project and the Southwest Arkansas project, are located in southern Arkansas near the Louisiana border. The Company is focused on evaluating and testing commercial lithium extraction and purification from brine sourced from approximately 180,000 acres of unitized leases across these two projects. LANXESS operates the industry’s first industrial-scale Direct Lithium Extraction (DLE) demonstration plant in a LANXESS property project. The scalable and environmentally friendly process eliminates the use of evaporation ponds, reduces processing time from months to hours, and significantly increases the effective recovery of lithium. In September 2022, the Final Feasibility Study (DFS) and Front End Engineering Study (FEED) for Phase 1A of the LANXESS real estate project will start. In May 2022, the Southwest Arkansas Project Preliminary Feasibility Study (PFS) began. We are also developing approximately 45,000 acres of mineral leases in the Mojave Desert in San Bernardino County, California.

Standard Lithium is co-listed on the TSX Venture Exchange and NYSE American under the trading symbol “SLI”. Listed on the Frankfurt Stock Exchange under the symbol “S5L”. Please visit our website. https://www.standardlithium.com.

Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.

This news release may contain certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. As used in this news release, “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “predict”, “may”, Words such as “plan” and other similar words and expressions are forward-looking statements or information. These forward-looking statements or information are FEED and DFS delivery schedules, patent filings, chloride-to-hydroxide conversion pilot plants, future prices of commodities, accuracy of mineral or resource exploration and drilling activities, reserves or resources, regulatory or governmental requirements or approvals, reliability of third-party information, continuity to mineral properties or infrastructure; access, fluctuations in the market for lithium and its derivatives, changes in exploration costs and government regulations in Canada and the United States, and other factors or information; Such statements represent the Company’s current view of future events and, although considered reasonable by the Company, are subject to material business, economic, competitive, political and social risks; Contingencies and Uncertainties. Many known and unknown factors could cause our results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. there is. We do not update these forward-looking statements or information to reflect changes in assumptions, changes in circumstances, or as a result of such statements and information, except as required by applicable laws, rules and regulations. It is not intended nor obliged to reflect any other events that may affect it. Rules.

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Standard Lithium Reports First Quarter Fiscal Year 2023 Results, Achieves Key Project Milestone Towards Commercialization, The Canadian Business Journal

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