FCLI Full Circle Lithium Corp

• FCL has successfully completed the modular demonstration plant phase
• It's processing plant, which is driven by proprietary DLE, has successfully recycled lost lithium from its initial client's effluent stream
• FCL's plant has produced lithium product that meets all of the rigorous specifications for purchase by its client, a global specialty chemical company
• The plant is now back at FCL's Georgia headquarters for upgrading into a commercial-scale plant ahead of full commercial redeployment

TORONTO, Jan. 29, 2024 /CNW/ - Full Circle Lithium Corp. ("FCL" or the "Company") (TSXV: FCLI) (OTCQB: FCLIF), a USA-based lithium products manufacturer and recycler with a highly experienced technical team is pleased to provide an update regarding the Company's progress on the operations of its first modular demonstration lithium extraction and processing plant for a global chemical company at one of its specialty chemical plants in the USA.

FCL has successfully completed the demonstration plant phase with its initial client, a global specialty chemical company. Following considerable lab and pilot scale work, FCL had deployed its modular processing plant to the client's chemical facility in order to demonstrate, at scale and in a live setting, that its plant, driven by its proprietary direct lithium extraction technology (DLE), could extract lithium from the client's waste stream and make a high-quality lithium product that met the client's rigorous level of purity. FCL's modular plant and DLE not only extracted over 99% of the previously lost lithium from the client's effluent stream, but also removed all necessary impurities in order to qualify the lithium product for purchase by this client.

"This is a major de-risking milestone for our new company as we have demonstrated that our robust lithium extraction and processing technology works at scale in a real-life deployed setting," said Carlos Vicens, CEO, Director and Founder of FCL. "Making qualified lithium product for our first client gets us closer to near-term deployment of a commercial-scale plant and revenue generation, which we believe will be a first for a north American lithium technology start-up. This achievement also opens the door to a number of other potential clients as they assess our technology and ability to execute at a commercial scale."

The demonstration plant is now back at the FCL plant for refurbishment and expansion for redeployment at the client's site as a commercial-scale plant. Next steps for full commercial production include FCL providing to the client a large sample of qualified lithium product for a run through the client's commercial plant to make its own product, and completion of a definitive agreement, both of which are in progress. Deployment of the commercial plant to the client's facilities and production ramp-up would then follow, which is expected this quarter.

Situated in the epicenter of the largest EV buildout in North America, FCL's fully permitted lithium carbonate processing plant in the state of Georgia, USA combined with a complement of seasoned lithium experts makes FCL a different processor and manufacturer of lithium compounds. FCL is focused on lithium and battery materials reintegration to meet the demand for crucial battery-grade raw materials, utilizing proprietary technology and know-how. In addition to its lithium carbonate plant, FCL is focused on three complementary feedstock processing divisions: battery recycling from off-spec and end-of-life lithium-ion batteries, lithium mid-stream recycling from industrial and chemical feedstock, and lithium refinery from upstream feedstock. Following on the Company's mantra of "the home of lithium science", FCL has now also developed an innovative and patented Fire Suppressant Solution (FSS), to address the increasing number of difficult to extinguish and hazardous lithium based fires. Additional information regarding FCL is available on SEDAR at www.sedar.com under the Company's profile and its website www.fullcirclelithium.com.

Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking statements within the meaning of securities legislation in the Canada and which are based on the expectations, estimates and projections of management of the parties as of the date of this news release unless otherwise stated. Forward-looking statements are generally identifiable by use of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "could", "believe", "plans", "intends" or the negative of these words or other variations on these words or comparable terminology. More particularly, and without limitation, this news release contains forward-looking statements and information concerning expectations on the viability, effectiveness, safety and any potential commercial production and commercialization related to the fire suppressant solution which is at an early stage of testing and development, on receiving patent protection for the fire suppressant solution and related inventions and processes, the ability of FCL, a start-up venture, to continue raising capital, upgrading and refurbishing its plant, and sourcing feedstock for its business. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the uncertainties and risk factors related to the technical elements in a processing and refining business, loss of key technical and other staff, lithium price fluctuations, the fire suppressant solution functioning as expected to meet safety requirements and fire-fighting, related government regulations and potential client product specifications, and applicable environmental requirements and issues – see additional risks described in FCL's public filings. Actual results, developments and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. FCL disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise, unless required by law. Additionally, FCL undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of FCL, its financial or operating results or its securities.

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SOURCE Full Circle Lithium Inc