Allied Copper Corp. (TSX-V: CPR, OTCQB: CPRRF, FSE: S9G) (“Allied”), is pleased to announce that its lithium-focused division, Volt Lithium Corp (“Volt” or the “Company”) has achieved a technical breakthrough with its proprietary, next-generation IES-300 Direct Lithium Extraction (“DLE”) technology, which is expected to support continued step-change improvements in Volt’s process and project economics upon commercialization.

This next-level IES-300 technology builds on the previously announced success of Volt’s original IES-200 DLE process, which achieved 93% lithium recoveries from oilfield brines. With IES-300, the Company has continued to realize up to 93% lithium extraction, while also reducing the amount of re-agent required to treat oilfield brine as it enters the extraction process. The combination of continued high lithium extraction levels, a streamlined process and ongoing efficiency improvements has resulted in lower operating costs for Volt, which is expected to enhance project economics.

“Volt continues to execute our technically-focused strategy targeting profitable commercial production of lithium from oilfield brine, and be positioned as the first company in North America to achieve this milestone,” commented Alex Wylie, President of Allied and founder of Volt. “With results from our current pilot project anticipated by the end of Q2/23, we are excited to confirm that our next generation IES-300 technology can lower operating costs by reducing reagent inputs while maintaining high lithium extraction – all of which are critical to generate the robust economics Volt is targeting.”

Background on Volt’s IES-300 DLE Technology

Volt’s proprietary DLE technology features a two-stage process to extract lithium from oilfield brine. In Stage One, the oilfield brine is treated using proven equipment and established processes, and on a bench-scale basis earlier in 2023, Volt confirmed the ability to effectively remove up to 99% of contaminants in the preparation of clean brine for the DLE process. In Stage Two, Volt uses the Company’s proprietary IES-300 technology to extract the lithium from the brine and concentrate it into a lithium chloride solution that will ultimately be upgraded to lithium hydroxide, an essential raw material required for batteries, and in particular, electric vehicle batteries.

As the Company continues to progress through the pilot project during the second quarter of 2023, ongoing enhancements will be made to Volt’s DLE technology with the goal of further reducing costs and increasing lithium recoveries.