• Lithium carbonate spot sales contract executed for 16.1 metric tonnes
• Rising lithium demand forecasts result in increasing lithium prices
• Significant milestone confirms Argosy's ambitions and near-term growth phase

Argosy Minerals Limited (ASX: AGY) has announced the signing of a Spot Sales Contract with Chengdu Chemphys Chemical Industry Co., Ltd ('Chemphys'), for the sale of 16.1 metric tonnes of lithium carbonate product produced from the Company's Rincon Lithium Project. The Spot Sales Contract price was referenced from SMM lithium carbonate prices, with payment terms being an irrevocable letter of credit at sight (Incoterms) and payment immediately upon receipt of original shipping documents. The Company is now working through product export logistics, with the cargo expected to commence transport upon completion of the freight and export protocols. Argosy Managing Director, Jerko Zuvela, stated that the company is pleased to realise the sale of its lithium carbonate product, with strong interest received following the recent uplift in lithium market sentiment and prices. He further added that Argosy is part of an exclusive group of lithium carbonate product exporters, and this significant milestone further confirms the company's ambitions and near-term growth phase to fully develop its Rincon Lithium Project. With the project's positive fundamentals, Argosy will be strong beneficiaries of the lithium sector recovery, noting the strategic development milestones achieved to date at the Rincon Lithium Project.

The company is focused on building a sustainable lithium production company, highly leveraged to the forecast growth in the lithium-ion battery sector.