Galan Lithium's Progress Update on HMW Project Construction

Galan Lithium Limited (ASX: $GLN) is making significant progress in the construction activities at its 100% owned Hombre Muerto West (HMW) Phase 1 lithium brine project. The company has commenced filling Pond 2, with the evaporation process underway, and reported positive advancements in earthworks and liner installation for Pond 2 and construction work for Pond 3. The HMW production process is expected to use minimal fresh water and achieve low all-in sustaining costs, positioning Galan to be in the 1st quartile of the lithium industry's cost curve. The company aims to commence lithium chloride production in H1 2025.

Executive Commentary on Galan's Progress and Strategy

We are very proud of the solid progress being made by the HMW Phase 1 construction team and Galan is well on its way towards their long-term production journey for its low-cost, low-risk lithium chloride development strategy. We remain firm in progressing our lithium chloride strategy and are confident that our production approach, including key tenement acquisitions, permitting and offtake arrangements put Galan in a good place to becoming the next lithium producer in Argentina in H1 2025.

Summary of Galan Lithium's Progress and Future Outlook

Galan Lithium Limited (ASX: $GLN) has made significant strides in advancing its HMW Phase 1 lithium brine project, with the commencement of Pond 2 filling and positive developments in earthworks and construction for Ponds 2 and 3. The company's strategic lithium chloride production plan remains on track, with Phase 1 permits granted and Phase 2 development plans unaffected by recent provincial court rulings. Galan's low-cost, high-grade HMW project aims to achieve lithium chloride production in H1 2025, with subsequent phases targeting increased production capacity. The company's confidence in its production strategy, environmental impact considerations, and strong community and government support position it for success in the lithium industry. Galan's ongoing due diligence process with Glencore plc is expected to yield positive outcomes, further enhancing the company's prospects in the market.