Nevada Lithium signs Bonnie LOI with Hydro Lithium

Executive Summary

• Nevada Lithium Resources Inc. signed a non‑binding Letter of Intent with Hydro Lithium Inc. to evaluate and potentially apply Hydro Lithium’s proprietary extraction technologies at the 100% owned Bonnie Claire lithium‑boron project in Nye County, Nevada.
• The LOI sets a deadline of September 25 2026 for either signing a definitive agreement or termination, and contemplates future collaborations on other North American critical‑minerals assets.
• Both companies highlight the potential to add new revenue streams and enhance the already strong economics of Bonnie Claire’s Preliminary Economic Assessment (PEA) released August 6 2025.

Key Details

• Parties: Nevada Lithium Resources Inc. (100% owner of Bonnie Claire project) and Hydro Lithium Inc., a Korean company producing battery‑grade lithium hydroxide and carbonate (3,600 t/yr capacity).
• Technology: Hydro Lithium will evaluate its CULH (battery‑grade lithium chemical production) and CULX (lithium extraction from natural resources) processes, originally developed by CEO Dr. Uong Chon (formerly of Posco’s PosLX technology).
• Scope of LOI:
• Assess feasibility of applying Hydro Lithium’s extraction methods to recover lithium, boron and other U.S. critical minerals at Bonnie Claire.
• Explore additional collaborative projects on other North American properties owned by Nevada Lithium.
• Term & Conditions: Non‑binding; parties will negotiate a definitive agreement. LOI terminates on the earlier of (i) signing a definitive agreement or (ii) September 25 2026.
• Economic Context: Bonnie Claire’s PEA (Aug 2025) projects >62,300 t/yr lithium carbonate and 129,500 t/yr boric acid over a 61‑year mine life, with an IRR of 32.3%, capital payback of 2.8 years, and operating cost of $6,777/t Li₂CO₃ after by‑product credit.
• Management Comments:
• Stephen Rentschler (CEO, Nevada Lithium): Emphasized Hydro Lithium’s proven extraction expertise (PosLX) and the potential to augment Bonnie Claire’s economics with new revenue streams.
• Dr. Uong Chon (Chairman & CEO, Hydro Lithium): Highlighted CULX technology’s ability to address extraction challenges while minimizing environmental impact, and expressed intent to unlock additional resources across North America.

Notable Quotes

• “We are honoured to be working with Dr. Uong Chon… his technology is the driver behind Posco’s lithium production.” – Stephen Rentschler, CEO, Nevada Lithium
• “Our proprietary technology, CULX, addresses challenges and enables sustainable utilization of under‑utilized natural resources while minimizing environmental impact.” – Dr. Uong Chon, Chairman & CEO, Hydro Lithium