VANCOUVER, BC, Feb. 24,
2025 /CNW/ - Century Lithium Corp. (TSXV: LCE)
(OTCQX: CYDVF) (Frankfurt: C1Z) ("Century Lithium" or "the
Company") is pleased to announce that the Company has completed its
initial internal, non-independent review, optimization work, and
studies ("Optimization Study") related to the estimated capital
("CAPEX") described in the NI 43-101 Technical Report on the
Feasibility Study of the Clayton Valley Lithium Project (now
known as Angel Island), Nevada,
USA, dated April 29, 2024
("Feasibility Study"). The Optimization Study identified potential
cost reductions of up to 25% of CAPEX on its initial Phase 1 CAPEX
of $1.581 billion.
Optimization Study highlights leading to the CAPEX
reductions:
- Reduced capital costs through changes in flow sheet, equipment
selection and updated vendor quotes in the processing areas of
filtration, Direct Lithium Extraction ("DLE") and the chlor-alkali
plant
- Internal evaluation of the estimated engineering and
construction plans to identify areas of overlap and locations
within the plan where modifications of site facilities and
elimination of redundancies and inefficiencies can streamline the
process from mining to the planned on-site production of
battery-grade lithium carbonate
("Li2CO3")
- Reductions in the estimated cost for on-site services resulting
from the changes in processing
- Reduction in estimated indirect costs for contingency and EPCM
calculated in the Feasibility Study as a percentage of direct costs
as a result of the cost reductions set out above
"We are very pleased with the outcome of the Optimization Study.
These results, if confirmed by an updated Feasibility Study, will
have a significant impact on the economics of Angel
Island," said Century Lithium President and CEO, Bill Willoughby. "The Company is also in the
process of outlining new initiatives at Angel Island that will
further unlock value for our shareholders and place Angel Island in
the forefront of lithium resources under development in
North America."
"Lithium remains critical for Western independence in its energy
transformation, underpinning the long-term fundamentals of the
industry despite current depressed prices. We believe that with
these improved economics and its advanced stage of development
Angel Island has now become a key asset in the broader United States' lithium strategy."
Century Lithium will initiate work on an Updated Feasibility
Study for Angel Island to confirm the results of the Optimization
Study to the required level. Century Lithium believes that the
optimizations to Angel Island's mine plan and processing, and the
sale of surplus sodium hydroxide generated in the production
process, will lead to competitive estimated capital and operating
costs.
Qualified Person
Todd Fayram, MMSA-QP and Senior
Vice President, Metallurgy of Century Lithium is the qualified
person as defined by National Instrument 43-101 and has approved
the technical information in this release.
ABOUT CENTURY LITHIUM CORP.
Century Lithium Corp. is an advanced stage lithium company,
focused on developing its wholly owned Angel Island project in
Esmeralda County, Nevada, which
hosts one of the largest sedimentary lithium deposits in
the United States. The Company has
utilized its patent-pending process for chloride leaching combined
with Direct Lithium Extraction to make battery-grade lithium
carbonate product samples from Angel Island's lithium-bearing
claystone on-site at its Demonstration Plant in Amargosa Valley, Nevada.
Angel Island is one of the few advanced lithium projects in
development in the United States
to provide an end-to-end process to produce battery-grade lithium
carbonate for the growing electric vehicle and battery storage
market. Angel Island is currently in the permitting stage for a
three-phase feasibility-level production plan expected to yield an
estimated life-of-mine average of 34,000 tonnes per year of lithium
carbonate over a 40-year mine-life, with one of the lowest
estimated operating costs for lithium projects in North America.
Century Lithium trades on both the TSX Venture Exchange under
the symbol "LCE" and the OTCQX under the symbol "CYDVF"; and on the
Frankfurt Stock Exchange under the symbol "C1Z".
To learn more, please visit centurylithium.com
ON BEHALF OF CENTURY LITHIUM CORP.
WILLIAM WILLOUGHBY, PhD., PE
President & Chief Executive Officer
centurylithium.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE
CONTENT OF THIS NEWS RELEASE.
Cautionary Note Regarding Forward-Looking
Statements
This release contains certain forward-looking statements
within the meaning of applicable Canadian securities legislation.
In certain cases, forward-looking statements can be identified by
the use of words such as "plans", "expects" or "does not
anticipate", or "believes", or variations of such words and phrases
or statements that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be
achieved" and similar expressions suggesting future outcomes or
statements regarding an outlook.
Forward-looking statements relate to any matters that are not
historical facts and statements of our beliefs, intentions and
expectations about developments, results and events which will or
may occur in the future, without limitation, statements with
respect to the potential development and value of the Project and
benefits associated therewith, statements with respect to the
expected project economics for the Project, such as estimates of
life of mine, lithium prices, production and recoveries, capital
and operating costs, IRR, NPV and cash flows, any projections
outlined in the Feasibility Study in respect of the Project, the
permitting status of the Project and the Company's future
development plans.
These and other forward-looking statements and information
are subject to various known and unknown risks and uncertainties,
many of which are beyond the ability of the Company to control or
predict, that may cause their actual results, performance or
achievements to be materially different from those expressed or
implied thereby, and are developed based on assumptions about such
risks, uncertainties and other factors set out
herein. These risks include those described under the
heading "Risk Factors" in the Company's most recent annual
information form and its other public filings, copies of which can
be under the Company's profile at www.sedarplus.com. The
Company expressly disclaims any obligation to
update-forward-looking information except as required by applicable
law. No forward-looking statement can be guaranteed, and actual
future results may vary materially. Accordingly, readers are
advised not to place reliance on forward-looking statements or
information. Furthermore, Mineral Resources that are not Mineral
Reserves do not have demonstrated economic viability.
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SOURCE Century Lithium Corp.
