Cruz hires Stantec for Solar resource estimate

Executive Summary

• Cruz Battery Metals Corp. has engaged Stantec Consulting Ltd. to prepare a maiden resource estimate (MRE) and a National Instrument 43-101 technical report for its 100%-owned Solar lithium project in Clayton Valley, Nevada.
• The engagement follows successful drilling across four phases (Jan 2022–July 2023), where lithium was discovered in all 14 drill holes on the 4,938-acre property, which directly borders American Lithium’s TLC project.
• Management cites a resurgence in lithium prices (up over 100% since June 2025) and renewed investor interest in domestic lithium projects as the rationale for proceeding with the MRE.

Key Details

• Engagement: Stantec Consulting Ltd. appointed to complete the maiden resource estimate and technical report.
• Qualified Person: Derek Loveday, PGeo, who has direct experience in the Tonopah area, including visits to Albemarle’s Silver Peak mine and Ioneer’s Rhyolite Ridge project, and completion of a report for American Lithium’s TLC project.
• Drilling History: Lithium discovered in all 14 drill holes across four phases:
  • Phase 1: Jan 17, 2022
  • Phase 2: May 18, 2022
  • Phase 3: March 31, 2023
  • Phase 4: July 13, 2023
• Project Assets: 100%-owned, 4,938-acre Solar lithium project in Clayton Valley, Nevada.
• Peer Context (American Lithium TLC Project):
  • Located directly bordering Cruz’s Solar project.
  • Updated MRE (Feb 2025) incorporated into a Preliminary Economic Assessment (PEA) released Feb 1, 2023.
  • TLC Resources: 6.17 million tonnes LCE (Measured), 2.39 million tonnes LCE (Indicated), and 1.44 million tonnes LCE (Inferred).
  • Note: Cruz management cannot verify American Lithium’s results beyond public information.
• Market Context:
  • Lithium prices at two-year highs, up >100% since June 2025 (per Trading Economics).
  • Renewed attention on domestic lithium following President Trump’s agreement to take a stake in Lithium Americas’ Thacker Pass mine (announced Oct 1, 2025).

Notable Quotes

• James Nelson, President: "Lithium prices are currently at two-year highs and are now up over 100 per cent since June, 2025... With the recent resurgence of investor attention back into the lithium sector, management feels this is an opportune time to proceed with producing a maiden resource estimate on the Solar lithium project. The company is very optimistic about the growth prospects for the remainder of 2026 and beyond as we become more active than we've been in years."