Mr. Carlos Vicens reports

FULL CIRCLE LITHIUM ACHIEVES 99%+ LITHIUM RECOVERY AT ITS FIRST DEPLOYED DEMO PLANT REPRESENTING A SIGNIFICANT INDUSTRY EXTRACTION MILESTONE

Full Circle Lithium Corp. has provided an update regarding the company's progress on the operations of its first modular demonstration lithium extraction and processing plant (the FCL demo plant) for a multinational chemical company (ChemicalCo1) at one of its specialty chemical plants in the United States.

The FCL demo plant, utilizing proprietary extraction and processing technology (LEP) (a form of direct lithium extraction (DLE)), has now been operating for several weeks. The FCL demo plant has successfully extracted over 99 per cent of the lithium from ChemicalCo1's lithium effluent in multiple cycles. Full Circle Lithium is now focused on ramping up the FCL Demo Plant to full and continuous processing capacity over the next several weeks to meet the demonstration parameters set with the client. This is a significant achievement for the lithium industry, as there are few examples of what Full Circle Lithium has achieved in its first LEP installation.

"We are excited that our demo plant using industry-leading lithium extraction technology has been deployed at our client's chemical facility and has proven to be highly effective, with over 99 per cent lithium recovery from their brine solution over multiple cycles. We believe that this is a key achievement in the lithium extraction industry," said Carlos Vicens, chief executive officer of Full Circle Lithium. "Using FCL's industry-leading lithium extraction technology, and with a technical team with many years of operating experience and extensive lithium know-how, we are focused on working with clients to make their lithium production projects a technical and economic success."

Upon successful full-scale ramp-up and verification by ChemicalCo1, and subject to a definitive agreement, Full Circle Lithium will expand the FCL demo plant to a commercial-scale plant. In addition, given growing interest, the company is now preparing its Georgia facility for additional new midstream lithium extraction potential clients.

Tom Currin, Full Circle Lithium's chief operating officer, stated that: "FCL's large-scale demo plant has successfully proven the efficacy of our LEP (or DLE) technology. Through a combination of specialized senior industry knowledge, chemical treatments, filtration, absorption, advanced separation techniques and fully vertically integrated technology, FCL has achieved an unprecedented lithium recovery rate of over 99 per cent. This remarkable efficiency not only ensures minimal lithium waste but also significantly reduces the environmental impact of lithium production. The FCL demo plant and LEP technology are environmentally focused processes using minimal reagents. FCL is aligned with the sustainability and cost objectives of its customers, communities and governmental infrastructure initiatives."

Join Mr. Vicens, CEO of Full Circle Lithium, for a live virtual event to learn about the vast potential of the company, what is in store for the coming quarters and to ask questions during the interactive question-and-answer session (Q&A).

Date and time:  Tuesday, Oct. 31, at 11 a.m. ET/8 a.m. PT

Register for the event on-line.

Correction to Sept. 6, press release

The company also wishes to correct its previous announcement on Sept. 6, 2023, regarding the option grant to TLG Growth Capital. A total of 375,000 options were granted to TLG, rather than 500,000 options that were previously announced. The options have an exercise price of 70 cents and expire on Sept. 5, 2028.

About Full Circle Lithium Corp.

Situated in the epicentre of the largest EV (electric vehicle) buildout in North America, Full Circle Lithium's fully permitted lithium carbonate processing plant in the state of Georgia, United States, combined with a complement of seasoned lithium experts, makes Full Circle Lithium a different processor and manufacturer of lithium compounds. Full Circle Lithium 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, Full Circle Lithium 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," Full Circle Lithium 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.

We seek Safe Harbor.