On May 28, 2026, Australian-listed lithium company Galan Lithium Limited (ASX: GLN) announced that the wet plant commissioning of its wholly-owned Hombre Muerto West (HMW) lithium brine project in Catamarca Province, Argentina, had been successfully completed. The first batch of processed lithium chloride (LiCl) had been fed into the final evaporation ponds, officially entering the production optimization phase, with lithium chloride concentrates production and sales expected in H2 2026. First Batch of Processed Brine Delivered. The Phase 1 construction of the HMW project was completed in March 2026, and after mechanical and electrical commissioning, the project smoothly entered wet plant commissioning. The nanofiltration plant first processed raw brine at low pressure, then processed pre-concentrated brine containing approximately 0.5% lithium at high pressure. Independent laboratory detection confirmed that the impurity separation performance fully met design specifications. The processed lithium chloride has now been fed into evaporation ponds, where approximately 3 months of evaporation and concentration will produce lithium chloride concentrates with 6% lithium content for exports under agreement. Stable mass production has not yet been achieved; upon completion of optimization, the project will steadily reach the Phase 1 designed capacity of 4,000 mt LCE per year. Galan Lithium Limited is a lithium exploration and development enterprise listed on the Australian Securities Exchange. Its core assets are the HMW and Candelas world-class lithium brine projects at the Hombre Muerto salar in Argentina. The company also holds an exploration license for Greenbushes South in Western Australia, adjacent to the tier-one Greenbushes lithium mine.

On May 7, Zhejiang Huayou Cobalt Co., Ltd. issued an announcement stating that it has signed a "Scheme Implementation Deed" and related agreement appendices with Atlantic Lithium Limited, planning to acquire 100% of its equity through a scheme of arrangement. Upon completion of the transaction, Atlantic Lithium will be consolidated into Huayou Cobalt's financial statements, and Huayou Cobalt will obtain 100% of its equity. Atlantic Lithium's main business focuses on lithium exploration and development in the African market, with its core asset being the Ewoyaa Lithium Project in Ghana. Huayou Cobalt stated that this is an important step in deepening its overseas resource layout, which will further enhance its lithium resource self-sufficiency rate and supply chain security resilience.

Jiangsu Lopal Tech Co., Ltd., through its overseas wholly-owned subsidiary Lopal Tech Perth Pty Ltd (hereinafter referred to as "Lopal Perth") and Global Lithium Resources Limited ("GL1") and MB Lithium Pty Ltd ("MB Lithium", together with "GL1", the "Sellers"), signed the "Tenements and Mineral Rights Sale Agreement". The subject matter of this transaction is the sellers' collectively held exploration tenements for five lithium mines in Western Australia, as well as the lithium mineral rights for another 11 mining areas. The transaction involves lithium exploration tenements located in the Pilbara region of Western Australia, approximately 150 km southeast of Port Hedland. Since acquiring the mineral rights in 2019, GL1 has continuously carried out exploration work on one of the core tenements, E45/4309, completing a total of 734 reverse circulation drill holes and 7 diamond drill holes, with drilling footage exceeding 102.5 km. According to the "Marble Bar Lithium Project Mineral Resource Estimate Report" prepared in 2022 in accordance with the JORC Code, the project has an ore resource of 18 million tonnes with an average lithium oxide grade of 1.0%. Based on relevant data, the mining area still has good exploration potential. The Company engaged a professional team from SRK Consulting (Hong Kong) Limited ("SRK") in December 2025 to conduct an on-site field inspection of the mining area and carry out due diligence regarding the geological conditions, resource estimation and exploration prospects. At the same time, the Company also engaged Australian law firm Herbert Smith Freehills Kramer in December 2025 to provide legal services including due diligence for the project. Pursuant to the agreement, Lopal Tech Perth Pty Ltd acquired the lithium exploration tenements and related assets held by Global Lithium Resources Limited and MB Lithium Pty Ltd in Australia for a consideration of AUD 14.85 million. The lithium mining project will subsequently require exploration, mining licence application, beneficiation and mining capacity construction, with an expected investment of over USD 200 million and a construction and production ramp-up period of approximately 2–3 years. Through its overseas wholly-owned subsidiary Lopal Perth, the Company signed the "Tenements and Mineral Rights Sale Agreement" with the counterparties GL1 and MB Lithium, acquiring the lithium exploration tenements and related assets held by them in Australia, with the transaction amount being AUD 14.85 million. 1. Counterparties (i) Counterparty 1 Name: Global Lithium Resources Limited Registered Address: Level 1, 16 Ventnor Avenue, West Perth WA 6005 Date of Establishment: May 11, 2018 Major Shareholders: As of April 20, 2026, MINERAL RESOURCES LIMITED holds 9.85%, CANMAX TECHNOLOGIES CO LTD holds 9.45%, SINCERITY DEVELOPMENT PTY LTD holds 7.49%, YONGFANG GUO holds 6.23%, DIANMIN CHEN holds 5.32% Principal Business: GL1 is a lithium resource exploration and development company listed on the Australian Securities Exchange, primarily engaged in the exploration, development and future production of hard-rock lithium resources. (ii) Counterparty 2 Name: MB Lithium Pty Ltd Registered Address: Level 1, 16 Ventnor Avenue, West Perth WA 6005 Date of Establishment: June 10, 2021 Major Shareholders: GL1 holds 100.00%; MB Lithium is a wholly-owned subsidiary of GL1. Principal Business: MB Lithium holds the mineral rights related to the Marble Bar Lithium Project. 2. Agreed Product and Technical Specifications Any spodumene concentrate produced from the Manna Lithium Project with a lithium oxide (Li₂O) content of not less than 5% and meeting the specifications agreed by both parties. The Company has the right to reject products with a lithium oxide content of less than 4.5%. 3. Supply Term The initial term is 10 years from the date of the first supply of the agreed product. Subject to satisfaction of the relevant conditions, the Company has the right to extend the initial term by 4 years by giving notice within one month prior to the expiry of the initial term. 4. Supply Volume GLR shall supply to the Company annually 40% of the actual annual production of spodumene concentrate from the Manna Lithium Project. GLR shall use its best efforts to achieve an annual supply volume of at least 70,000 tonnes of the agreed product. 5. Product Pricing The pricing of the supplied products is based on the average of price indices published by SMM , Fastmarkets, Benchmark Minerals Intelligence, Asian Metal, Platts S&P Global and other agencies, subject to a certain price concession. 6. Supply Shortfall If a supply shortfall occurs during a contract year, GLR shall use reasonable efforts to make up such shortfall within three months after the end of the relevant contract year. If GLR fails to provide the shortfall supply to complete the delivery within such three-month period (the "rectification period"), GLR shall pay in full the price difference to the Company within 30 days after the end of the rectification period. 7. Prepayment Amount Subject to satisfaction of the conditions precedent for the prepayment, the Company shall pay GLR a prepayment of not more than US$75 million (the "Maximum Amount"), which shall be strictly used for the development expenditure of the Manna Lithium Project and the operation of the project after its completion. When the Company accepts the agreed products, such prepayment shall be applied to offset the payable purchase price in batches. Considering the extended period of the prepayment, GLR shall pay the Company a funding fee calculated at a compound annual interest rate of 5%. 8. Overview of the Investment Target GL1 (ABN 58 626 093 150) is an Australian listed company located in Western Australia, primarily engaged in the exploration and development of lithium resources. Its core asset, the Manna Lithium Project, is located 100 km east of Kalgoorlie, Western Australia, and is the third largest lithium resource project in the resource-rich Eastern Goldfields region. The project has a mineral resource of 51.6 million tonnes with an average lithium oxide grade of 1.0%. GL1 holds and operates the Manna Lithium Project through its wholly-owned subsidiary GLR (ACN 653 130 575). GL1 has obtained the mining lease for the lithium project and completed the project feasibility study. GLR expects to make a final investment decision (FID) for the Manna Lithium Project by the end of 2026. Following the FID, GLR will commence project construction, and the lithium project is expected to commence shipments in June 2028. This transaction represents an important measure for the Company to anchor its core business of lithium iron phosphate cathode materials and deepen its upstream resource layout. Currently, the Company's lithium iron phosphate business continues to expand in production and sales volume, its overseas capacity is progressing steadily, and the demand for stable supply and cost control of upstream lithium resources is increasing. Through this transaction, the Company will further enhance its lithium resource security capability, strengthen raw material supply stability and anti-cyclical resilience, improve vertical integration and overall competitiveness, which is in line with the Company's long-term development strategy and the interests of all shareholders. Source: China Securities Journal

Chile’s state-owned development agency Corfo has awarded up to $5.8 million to two research projects focused on direct lithium extraction (DLE) and rare earth recovery to boost mining innovation and create new business lines.

Brunswick Exploration has announced that it will begin lithium exploration activities in the Kingdom of Saudi Arabia and has secured its first exploration license in the country. The Company highlighted Saudi Arabia’s strong potential for hard-rock lithium and becomes the first lithium explorer to undertake a systematic, country-wide program there. This initiative complements BRW’s ongoing projects in Canada—where an initial resource estimate for the Mirage Project is expected in Q1 2026—and in Greenland, where its first drill program is planned for 2026. BRW noted that exploration work in Saudi Arabia can be conducted during the colder months in Canada and Greenland, enabling year-round field activity. The newly acquired license covers approximately 8,467 hectares in a well-accessible area featuring favorable geology, geochemical indicators, and satellite-interpreted structures. Saudi Arabia is rapidly positioning itself as a future lithium-processing hub to supply regional demand, aligning with its Vision 2030 strategy to diversify beyond oil and gas. The country has an established mining framework, strong governmental support, and hosts numerous major and junior mining companies, creating a highly attractive growth environment for Brunswick Exploration.

[Leo Lithium Rejects Firefinch Demand, Advances Asset Sale] Leo Lithium has formally launched the sale process for its Tailings Product Sales Fee (TPSF) assets and simultaneously rejected demands from major shareholder Firefinch Limited to overhaul the board and accelerate the sale process. The troubled Australian lithium developer said on Friday that the TPSF sale will proceed in an "orderly and timely" manner, with completion expected as early as Q1 2026, and that it will appoint independent advisors to oversee the transaction. The fee right is linked to the future production of the Goulamina lithium mine project in Mali; Leo Lithium previously jointly operated the mine with China's Ganfeng Lithium until its exit last year. Firefinch, which spun off Leo Lithium in 2022, remains its largest shareholder. Firefinch demanded the company complete the sale within three months and replace four directors. The Leo board deemed these demands "unrealistic" and not in the best interests of shareholders, calling Firefinch's proposed board changes "superfluous" and "a waste of shareholder funds," and emphasized that the relevant concerns had already been addressed. Proceeds from the TPSF sale, along with remaining cash, will be used for a third capital return. By the end of this year, Leo Lithium will return $330 million, comprising a $265 million unfranked dividend payable on October 14 and a $65 million capital return subject to shareholder approval. Cumulative Return to Shareholders Totals $537 Million By the end of 2025, Leo will have returned over $537 million in total, equivalent to 95% of the proceeds from its sale of a 40% interest in Goulamina to Ganfeng. The company also revealed that it had explored several strategic options with Firefinch, including an acquisition, re-listing on the ASX, or a sale to another listed entity, but Firefinch rejected all of them. Firefinch subsequently proposed a merger but did not explain how it would benefit shareholders. Leo Lithium was delisted from the ASX on September 22, after its shares had been suspended for nearly two years. Following the completion of this capital return, the company plans to seek shareholder approval to initiate a members' voluntary liquidation process, where a liquidator will be responsible for completing the TPSF sale and making the final cash distribution, after which the company will be deregistered. Leo's gradual wind-down reflects the overall downward trend in lithium prices since 2022, a situation that has put pressure on many small and medium-sized miners, making them more susceptible to industry consolidation. Source: mining.com [Peruvian Minister Promotes Saudi Mining Investment Interest] A senior Peruvian minister said on Tuesday that the country is seeking significant investment from Saudi Arabia and US oil giant Chevron to develop its mining and energy resources, as part of a broad strategy to revitalize the sector. This move comes as Peru, the world's third-largest copper producer, seeks to restart investments. In recent years, investment has slowed down due to political uncertainty and persistent social conflicts. Minister of Energy and Mines Jorge Luis Montero stated that he expects to sign a memorandum of understanding with Saudi Arabia in November to develop lithium and other strategic minerals projects. He described the Middle Eastern kingdom as seeking a "reliable strategic partner" in Peru. Montero said he will visit Saudi Arabia next month alongside Peru's Minister of Foreign Affairs to sign broader economic agreements with the Gulf nation. He added that Saudi Arabia's interest extends to "investing in mining and energy activities... and even building desalination plants for the mining industry in the future." Source: mining.com [US Proposes Acquisition of Stake in Australian Critical Minerals Company] Executives who recently returned from Washington said the US government has proposed acquiring equity in an Australian critical minerals company as part of a broader funding package aimed at expanding supply and reducing reliance on China. This move aims to establish alternative mineral supply chains. Previously, China, which dominates the global supply of many critical minerals, restricted exports of rare earths and related permanent magnets in response to US tariffs, impacting automotive manufacturers in Europe and the US. Critical minerals, including lithium, cobalt, and rare earths, are essential for technologies in various sectors such as clean energy, semiconductors, and weapons. Andrew Worland, CEO of International Graphite, which is building a mine and processing plant in Western Australia, stated that US government officials "told enterprises that if they submit proposals, they will be evaluated and efforts will be made to advance them through various existing funding channels and programs." Worland visited Washington and New York last month as part of an Australian critical minerals enterprise delegation comprising 15 companies, which met with senior US government officials. Worland said the officials the delegation met included David Copley, Director of the Office of Supply Chain Resilience at the National Security Council and a former mining executive, and Joshua Crone, Deputy Assistant Secretary for Critical Minerals and Metals at the International Trade Administration. Worland indicated that financing avenues could include traditional debt, hybrid debt-equity models (i.e., debt financing with "equity kickers"), and pre-purchase agreements—where the US might prepay to include supplies in the defense stockpile. He added that the current focus is on getting projects ready by 2027. The White House did not immediately respond to a request for comment regarding discussions with Australian enterprises. The US government already holds equity stakes in US-listed critical mineral enterprises. On Tuesday, the US Department of Energy (DOE) will acquire a 5% stake in Lithium Americas Corp. and an additional 5% stake in the Thacker Pass lithium mine project, a joint venture between the company and General Motors. The US government will acquire the stake in Lithium Americas Corp. through zero-cost warrants, marking the Trump administration's latest private sector investment in industries deemed critical to national security, following recent acquisitions of partial stakes in Intel and MP Materials. Source: mining.com [Saskatchewan Sets Lithium Production Royalty Rate at 3%] EMP Metals Corp. is pleased to announce that amendments to The Underground Mineral Royalty Regulations, 2017 have been approved, effective September 24, 2025, setting the provincial royalty rate for lithium production in Saskatchewan at a fixed rate of 3%. These amendments formally establish the Crown royalty framework applicable to the extraction and sale of lithium from natural brine aquifers, replacing the relevant provisions in any underground mineral lease in Saskatchewan. The new royalty framework is set at 3% of the sales value of the brine minerals and includes a two-year exemption period for new capacity. This rate aligns with the Crown royalty rates set by Saskatchewan for potash, salt, and sodium sulphate, and the overall system is competitive among major global regions developing lithium from deep natural brine aquifers. Karl Kottmeier, CEO of EMP Metals, stated, "This is very exciting news. The Government of Saskatchewan has again demonstrated its strong support for lithium production within the province. This royalty rate is highly competitive internationally, and the two-year exemption for new capacity will immediately have a positive impact on the financial model of our already attractive Aurora lithium production project." About EMP Metals EMP is a Canada-based lithium exploration and development company focused on developing large-scale lithium resources utilizing Direct Lithium Extraction (DLE) technology. The company currently holds over 205,000 net acres (83,000 hectares) of underground mineral rights and strategic drill sites in Southern Saskatchewan. Source: