Mr. Carlos Vicens reports

FULL CIRCLE LITHIUM DEVELOPS SPECIALTY LITHIUM BATTERY FIRE SUPPRESSION SOLUTION

Full Circle Lithium Corp. has provided an update on its proprietary fire suppressant solution (FSS) invention, a unique solution for lithium battery fires.

The company's unique and innovative FSS invention is progressing through a number of tests being conducted by a recognized United States-based testing facility to verify Full Circle's internal positive results. The initial test results from this third party lab are exceedingly positive for Full Circle's FSS and have confirmed internal results:

• The first test consisted of igniting a collection of 19 1865 cylindrical lithium-ion batteries and testing the FSS properties on this fire and comparing those results with extinguishment using only water. Using only half of a litre of the FSS, the fire was extinguished in less than five seconds and, importantly, the fire did not reignite. Water only put out the battery fire momentarily, but the batteries reignited after three water applications due to heat generated from the reaction.
• The second test consisted of igniting a larger e-bike lithium battery. Again, using only 0.75 litre of the FSS, the fire was extinguished in less than five seconds, and it did not reignite. Conversely, with considerably more volume of water, the e-bike battery fire did initially go out, but it reignited after three water applications and took one hour to cool to ambient temperature.
• The last test will consist of igniting 50-kilowatt-hour electric vehicle lithium-ion batteries and running the same tests comparing Full Circle's FSS versus water.

"Battery fires are a serious and growing problem for the global EV and lithium battery industry that require a specially developed lithium chemistry-based fire-fighting solution, not currently available in the market. We believe our FSS may well be a cornerstone fire-fighting solution for this problem," commented Carlos Vicens, Full Circle's chief executive officer. "We look forward to completion of third party testing of our specialty solution, and then formulating a commercialization plan for the benefit of the EV and lithium battery industry and our stakeholders."

Lithium battery fires are complex chemical reactions that are difficult to fight with conventional means. In addition, lithium battery fires are highly toxic, including emitting hydrofluoric acid and other gases that can potentially be lethal. Full Circle's FSS neutralizes the battery fire causing reactions so that these toxins do not continue to be created and released into the environment. Full Circle's FSS proprietary active ingredients are safe, significantly reduce water usage and are environmentally friendly.

Initial market assessment analysis of specialty fire suppressants for the lithium battery industry indicated a very significant and growing global problem and business opportunity with currently no known effective fire-fighting solutions available that are rooted in lithium chemistry, environmentally safe and practical to deploy in a broad range of lithium battery fire scenarios. The company believes that its FSS has a first-mover advantage in what it foresees as a very significant global business opportunity.

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 which was 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 buildout in North America, Full Circle'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 a different processor and manufacturer of lithium compounds. Full Circle 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 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.

We seek Safe Harbor.