Galan Lithium's Resource Increase Announcement

Galan Lithium Limited (ASX: $GLN) has reported an 18% increase in its 100% owned Mineral Resources, reaching 8.6Mt contained lithium carbonate equivalent (LCE) at 859mg/L lithium. This significant upgrade solidifies Galan's fully owned resource base and adds flexibility to its long term production target of up to 60ktpa LCE, including Candelas.

Galan's Managing Director, Juan Pablo (JP) Vargas de la Vega, on Resource Upgrade

This latest significant upgrade in the high grade, low impurity HMW Resource highlights the potential enormity of the brine resource that sits within Galan's 100% owned tenements in Argentina. The initial HMW resource in March 2020 was 1.08Mt LCE @ 946mg/L Li, upgraded in May 2023 to 6.6Mt LCE @ 880mg/L Li. This has now been increased a further ~20% to a tier one size of 8.6Mt LCE at 859mg/L Li, with the inclusion of our Catalina tenements. Coupled with our Candelas resource, Galan has a very solid foundation, and more importantly has delivered a further validation that its Hombre Muerto Salar resources fully support our four-stage lithium production target of up to 60ktpa LCE.

Summary of Galan's Resource Estimate and Outlook

Galan's resource upgrade reflects the company's commitment to achieving its long term production target of up to 60ktpa LCE, including Candelas. The increase in the high grade, low impurity HMW Resource, along with the inclusion of Catalina tenements, demonstrates the potential enormity of the brine resource within Galan's 100% owned tenements in Argentina. The robustness of the HMW Project, underpinned by strong financial metrics, supports the company's objective to achieve necessary production conditions for its four-stage lithium production target. Galan's next steps involve continued exploration activities to consolidate expansion tenements into the potential resource for the 60Ktpa project, including Candelas, and to demonstrate extraction yield and grade on the fractured hydrogeological units.