• Strategic pathway set and works progressing for 12,000tpa project development
• Upgraded Total Mineral Resource Estimate of 731,801 tonnes of Li2CO3
• Hydrogeological model indicates lithium brine can be pumped for up to 45 years

Argosy Minerals Ltd continued development works at the Rincon Lithium Project in Argentina, achieving significant milestones during the quarter. The company has defined a scheduled pathway to deliver the 12,000tpa project engineering and feasibility works, engaging international engineering services providers to support the upcoming phases of works towards a final investment decision. An upgraded JORC Code (2012) compliant Total Mineral Resource Estimate was completed, comprising 731,801 tonnes of lithium carbonate with a weighted mean average lithium concentration of 329mg/L. The company also identified an Exploration Target of an estimated 186,000 to 466,000 tonnes of Li2CO3. The updated hydrogeological dynamic model indicates that lithium brine can be pumped for an increased period of up to 45 years to operate at up to 12,000tpa of lithium carbonate, or for up to 23 years to operate at up to 24,000tpa. The company completed a shipment and delivery of a 20 metric tonne battery quality lithium carbonate product under a spot sales contract, achieving a sales price of US$13,400/t. Argosy continues to progress its strategic partner process, assessing and reviewing opportunities for strategic arrangements and funding options.

The company's updated hydrogeological dynamic model indicates that lithium brine can be pumped for an increased period of up to 45 years to operate at up to 12,000tpa of lithium carbonate, or for up to 23 years to operate at up to 24,000tpa.

The long-term growth outlook for the lithium market remains robust, driven by continued growth in electric vehicles, advancements in energy storage systems, and supportive government policies. The company is progressing its strategic partner process and funding options to support the development of the Rincon Lithium Project.