Cruz Battery Metals Announces Maiden Mineral Resource Estimate on its Solar Lithium Project in Big Smokey Valley, Nevada

Executive Summary

• Cruz Battery Metals announced its maiden NI 43‑101 mineral resource estimate for the 100% owned Solar Lithium Clay Deposit in Nevada.
• The estimate totals 50 Mt @ 608 ppm Li for 161,000 indicated tonnes of lithium carbonate equivalent (LCE) and 183 Mt @ 539 ppm Li for 525,000 inferred tonnes LCE using a 300 ppm Li cutoff.
• Stantec’s qualified person Joan Kester prepared the technical report in accordance with CIM best‑practice guidelines and NI 43‑101 standards.

Key Details

• Indicated Resources (300 ppm cut‑off): 50 Mt, 608 ppm Li → 161 kt LCE (30 kt Li₂CO₃, 183 kt LiOH·H₂O).
• Inferred Resources (300 ppm cut‑off): 183 Mt, 539 ppm Li → 525 kt LCE (99 kt Li₂CO₃, 597 kt LiOH·H₂O).
• Resource tables provided for additional cut‑offs (400–800 ppm) showing corresponding volumes, tonnes, and lithium grades.
• Assumptions used in the base case:
• Lithium carbonate price US $21,000/tonne
• Mining waste cost US $3.25/tonne; processing cost US $50.5/tonne
• Lithium recovery 90%
• Fixed density 1.70 g/cm³ (1.43 t/yd³)
• Cut‑off grade 500 ppm Li for the base case scenario.
• Qualified Person: Joan Kester, P.Geo., Stantec Consulting Services Inc., with direct experience on Nevada lithium clay projects; also qualified person for American Lithium Corp.’s TLC Lithium Project.
• The release includes standard NI 43‑101 disclaimer that mineral resources are not reserves and have no demonstrated economic viability.

Notable Quotes

“We appreciate Stantec, a world leader in the industry, preparing our Technical Report and mineral resource estimate for the Solar lithium project in Nevada.” – James Nelson, President & CEO, Cruz Battery Metals Corp.