Full Circle Lithium Achieves 99%+ Lithium Recovery At Its First Deployed Demo Plant Representing A Significant Industry Extraction Milestone

• Utilizing its proprietary lithium extraction technology, FCL's large-scale demonstration plant deployed to a client's chemical facilities has recovered over 99% of the lithium from the client's effluent brine solution, over multiple cycles.
• The successful results of FCL's demonstration plant to date mark a major milestone for FCL and the wider lithium extraction and recycling industry.

TORONTO, Oct. 24, 2023 /PRNewswire/ - Full Circle Lithium Corp. ("FCL" or the "Company") (TSXV: FCLI) (OTCQB: FCLIF), a USA-based lithium products manufacturer and recycler with a highly experienced technical team and a fully permitted lithium processing plant in Georgia (the "Georgia Facility"), is pleased to provide an update regarding the Company's progress on the operations of its first modular demonstration lithium extraction and processing plant (the "FCL Demo Plant") for a multinational chemical company ("ChemicalCo1") at one of its specialty chemical plants in the USA.

The FCL Demo Plant utilizing proprietary extraction and processing technology (or "LEP" technology, which is a form of direct lithium extraction or "DLE"), has now been operating for several weeks. The FCL Demo Plant has successfully extracted over 99% of the lithium from ChemicalCo1's lithium effluent in multiple cycles.  FCL is now focused on ramping up the FCL Demo Plant to full and continuous processing capacity over the next several weeks to meet the demonstration parameters set with the client.  This is a significant achievement for the lithium industry, as there are few examples of what FCL has achieved in its first LEP installation.

"We are excited that our Demo Plant using industry-leading lithium extraction technology has been deployed at our client's chemical facility and has proven to be highly effective with over 99% lithium recovery from their brine solution over multiple cycles. We believe that this is a key achievement in the lithium extraction industry," said Carlos Vicens, CEO of FCL.  "Using FCL's industry-leading lithium extraction technology and with a technical team with many years of operating experience and extensive lithium know-how, we are focused on working with clients to make their lithium production projects a technical and economic success."

Upon successful full-scale ramp-up and verification by ChemicalCo1, and subject to a definitive agreement, FCL will expand the FCL Demo Plant to a commercial-scale plant.  In addition, given growing interest, the Company is now preparing its Georgia Facility for additional new midstream lithium extraction potential clients.

Tom Currin, FCL's COO stated that "FCL's large-scale Demo Plant has successfully proven the efficacy of our LEP (or DLE) technology. Through a combination of specialized senior industry knowledge, chemical treatments, filtration, absorption, advanced separation techniques, and fully vertically integrated technology, FCL has achieved an unprecedented lithium recovery rate of over 99%. This remarkable efficiency not only ensures minimal lithium waste but also significantly reduces the environmental impact of lithium production.  The FCL Demo Plant and LEP technology are environmentally focused processes using minimal reagents. FCL is aligned with the sustainability and cost objectives of its customers, communities, and governmental infrastructure initiatives."

Join Carlos Vicens, CEO of Full Circle Lithium for a LIVE virtual event to learn about the vast potential of the company, and what's in store for the coming quarters, and to ask questions during the interactive Q&A.

Date and time: Tuesday, October 31st at 11 am ET / 8 am PT

Click here to register for the event.

The Company also wishes to correct its previous announcement on September 6, 2023, regarding the option grant to TLG Growth Capital ("TLG"). A total of 375,000 options (the "Options") were granted to TLG, rather than 500,000 options that were previously announced. The Options have an exercise price of $0.70 and expire on September 5, 2028.

Situated in the epicenter of the largest EV buildout in North America, FCL's fully permitted lithium carbonate processing plant in the state of Georgia, USA combined with a complement of seasoned lithium experts makes FCL a different processor and manufacturer of lithium compounds. FCL is focused on lithium and battery materials reintegration to meet the demand for crucial battery-grade raw materials, utilizing proprietary technology and know-how. In addition to its lithium carbonate plant, FCL is focused on three complementary feedstock processing divisions: battery recycling from off-spec and end-of-life lithium-ion batteries, lithium mid-stream recycling from industrial and chemical feedstock, and lithium refinery from upstream feedstock. Following on the Company's mantra of "the home of lithium science", FCL has now also developed an innovative and patented Fire Suppressant Solution ("FSS"), to address the increasing number of difficult to extinguish and hazardous lithium based fires. Additional information regarding FCL is available on SEDAR at www.sedar.com under the Company's profile and its website www.fullcirclelithium.com

Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking statements within the meaning of securities legislation in the Canada and which are based on the expectations, estimates and projections of management of the parties as of the date of this news release unless otherwise stated. Forward-looking statements are generally identifiable by use of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "could", "believe", "plans", "intends" or the negative of these words or other variations on these words or comparable terminology. More particularly, and without limitation, this news release contains forward-looking statements and information concerning expectations on the final positive results of the demonstration plant at its client's site (and future clients) and entering into a binding agreement with its client and future clients (if any), viability, effectiveness, safety and any potential commercial production and commercialization related to its technology (including the FSS which is at an early stage of development), on receiving patent protection for its technologies, inventions and processes (including the FSS and related inventions and processes), the ability of FCL, a start-up venture, to continue raising capital, upgrading and refurbishing its plant, deploying its technologies, advancing the testing of the FSS, and sourcing various feedstock for its business. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the uncertainties and risk factors related to the technical and commercial elements in a specialty chemical processing and refining business, loss of key technical and other staff, lithium price and input material prices fluctuations, its technologies functioning as expected to meet: economic parameters, technical, health, safety and environmental standards and requirements and related government regulations, and potential client product specifications – see additional risks described in FCL's public filings. Actual results, developments and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. FCL disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise, unless required by law. Additionally, FCL undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of FCL, its financial or operating results or its securities. The lithium extraction results and any values reported herein are provided by the Company and were not conducted in an ISO Certified Laboratory.

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SOURCE Full Circle Lithium Inc