Ms. Mary Little reports

SCHLUMBERGER NEW ENERGY AND PANASONIC ENERGY OF NORTH AMERICA ANNOUNCE STRATEGIC COLLABORATION ON NEW BATTERY-GRADE LITHIUM PRODUCTION PROCESS

Pure Energy Minerals Ltd. has provided an important release by Schlumberger Technologies Corp. (SLB), the company's strategic investor at Pure Energy's Clayton valley project in Esmeralda county, Nevada, where Schlumberger's plans are under way to construct a pilot plant for innovative lithium brine extraction. The following news was released by Schlumberger on June 10, 2021.

Schlumberger New Energy and Panasonic Energy of North America, a division of Panasonic Corp. of North America, have entered a collaboration agreement for the validation and optimization of the innovative and sustainable lithium extraction and production process to be used by Schlumberger New Energy at its NeoLith Energy pilot plant in Nevada. This collaboration paves the way for improved lithium production solutions that will help meet the expected surge in demand for lithium as the electric vehicle (EV) market takes off worldwide.

NeoLith Energy's sustainable approach uses a differentiated direct lithium extraction (DLE) process to produce high-purity, battery-grade lithium material while reducing the production time from over a year to weeks. The unique process is in sharp contrast to conventional evaporative methods of extracting lithium, with a significantly reduced groundwater and physical footprint. Panasonic will provide its guidance to validate and optimize the lithium material for battery-grade consumption. Situated in Clayton Valley, Nevada, the pilot plant is just 200 miles from Panasonic's large-scale advanced battery manufacturing operation, Panasonic Energy of North America, in Sparks, Nev.

As a global technology company and leader in lithium-ion batteries, Panasonic has a proven record in innovation and advanced products and solutions that power the automotive industry. Demand for battery-grade lithium is projected to grow exponentially over the next decade. As EVs greatly depend on lithium-ion rechargeable batteries, sustainable and efficient lithium production has become an important topic for regions, industries and technology companies, as well as battery and large automotive manufacturers. While the lithium industry is expected to attract large investments, the time to first lithium production for new development projects and regions will be critical for the industry to meet the surge in demand.

"Panasonic has a long-standing commitment to contributing to society and increasing sustainability in the supply chain as we work to produce the world's safest, highest-quality and most affordable batteries is a critical priority," said Allan Swan, president of Panasonic Energy of North America. "We look forward to working with Schlumberger New Energy to help achieve our vision of advancing the lithium-ion battery space and accelerating to a clean energy society."

"Panasonic is a pioneer in electric vehicle battery technology and we are excited to collaborate with them in developing our differentiated direct lithium extraction and production process," said Ashok Belani, executive vice-president of Schlumberger New Energy. "We are committed to expanding the global supply chain for advanced lithium compounds to support the forecasted surge in demand and enable new opportunities for lithium production globally."

NeoLith Energy's objective will be to pump brine from the subsurface, extract greater than 90 per cent of the dissolved lithium and pump more than 85 per cent of the brine back to the subsurface in an environmentally safe manner. In addition to maximizing the reinjection of the brine, the ultimate goal is to eliminate the need for any freshwater from an external source and reduce the environmental impact.

Together, Panasonic and Schlumberger New Energy aim to accelerate the development and implementation of an innovative lithium production process, with a commitment to economical, environmental and responsible extraction to empower the world's transition to new energy sources.

About Schlumberger New Energy

Schlumberger is the world's leading provider of technology to the global energy industry. Schlumberger New Energy explores new avenues of growth by leveraging Schlumberger's intellectual and business capital in emerging new energy markets, with a focus on low-carbon and carbon-neutral energy technologies. Its activities include ventures in the domains of hydrogen, lithium, carbon capture and sequestration, geothermal power, and geoenergy for heating and cooling buildings.

About Pure Energy Minerals Ltd.

Pure Energy Minerals is a lithium resource developer that is driven to become a low-cost supplier for the growing lithium battery industry. Pure Energy has consolidated a pre-eminent land position at its Clayton Valley project in the Clayton Valley of central Nevada for the exploration and development of lithium resources, comprising 948 claims over 23,360 acres (9,450 hectares), representing the largest mineral landholdings in the valley. Pure Energy's Clayton Valley project adjoins and surrounds on three sides the Silver Peak lithium brine mine operated by Albemarle Corp. The company has completed a preliminary economic assessment (PEA) for the Clayton Valley project (news releases of June 26, 2017, and April 5, 2018).

Pure Energy's strategic partner, Schlumberger Technologies, is the operator of the Clayton Valley project. In May, 2019, Pure Energy and SLB signed an earn-in agreement over the CV project which requires significant investment by SLB at the project, to include the design and construction of a pilot plant capable of processing lithium-bearing brines for high-quality lithium hydroxide monohydrate and/or lithium carbonate products at a specified rate. SLB plans to utilize both in-house and commercially available technology in the design of the CV pilot plant. SLB's costs, technical parameters and ultimate technology are anticipated to differ from the published PEA. For further details regarding SLB's participation, please refer to Pure Energy's annual general and special meeting management information circular dated April 4, 2019, available on SEDAR.

On Jan. 3, 2019, the Nevada Division of Water Resources (NDWR) approved and granted a finite term water right to Pure Energy, through its wholly owned subsidiary, Esmeralda Minerals LLC, for the extraction of up to 50 acre feet of water during a five-year period from the CV properties. This water right is deemed sufficient for brine testing requirements and SLB's future pilot plant facility. In July, 2020, the CV-09 well was completed and results were published by Pure Energy on Oct. 14, 2020.

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