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U.S.-based Lithium Producer International Battery Metals (IBAT) Names Iris Jancik as CEO to Lead Global Commercial Expansion

V.IBAT | June 3, 2024

Jancik to build out modular Direct Lithium Extraction (DLE) operations globally
CEO brings proven track record in building large-scale industrial projects
New leadership to leverage commercial momentum for U.S. and global expansion

HOUSTON and VANCOUVER, BC, June 3, 2024 /CNW/ -- International Battery Metals Ltd. (CSE: IBAT), today announced the appointment of Iris Jancik as Chief Executive Officer, effective in mid-August. Jancik will focus on expanding commercial deployment of IBAT's patented modular direct lithium extraction (DLE) plants.

IBAT recently announced installation of its first commercial lithium production plant, co-located at US Magnesium's (US Mag) operations outside Salt Lake City, Utah. IBAT is currently commissioning the DLE plant with an initial design capacity of 5,000 metric tons/year and expects to begin lithium production in June. The plant processes brine produced from lithium-containing waste-magnesium salts, and the lithium chloride product will provide feed for high-purity lithium carbonate production by US Mag.

This is the first commercial DLE plant in North America and the first modular DLE plant in the world.

"IBAT's proprietary commercialized DLE technology is proven, ready to push-start a US lithium industry, and revolutionize global production, making this a prime time to join the organization," Jancik said. "Burgeoning battery demand requires a wholesale change in how lithium is produced, and IBAT delivers the right combination of efficiency, sustainability and scalability to reach new heights."

Prior to joining IBAT, Jancik served as CEO of IDE Americas, a subsidiary of IDE Technologies, a global desalination and water treatment solutions company, where she has been responsible for the development and operations of major infrastructure projects, including San Diego County Water Authority's Carlsbad Desalination Plant in Carlsbad, Calif., as well as other municipal and industrial water treatment plants. An engineer with extensive global contracting and management experience, she holds an M.B.A. in international business from Texas A&M University.

"Iris brings deep expertise in water infrastructure, which is core to our DLE water-recycling process, and the requisite global commercial chops to build on IBAT's momentum," said Dr. John Burba, founder, CTO and director of International Battery Metals. "I expect IBAT to take on new frontiers for growth with Iris at the helm and look forward to collaborating with her."

Jancik succeeds Garry Flowers, who joined IBAT for a two-year period, starting as president in July 2022 and then named CEO in December 2022. Flowers is credited with accelerating IBAT's technology to its first commercial phase.

"We are grateful for Garry's diligence in transforming IBAT from a technology company to a commercial enterprise poised for growth," said William Webster, chairman of the board. "Garry's leadership has helped lay the foundation for IBAT to deploy its first plant, which is a tremendous landmark as the world's first modular DLE plant."

Lithium production is rising to meet demand, reaching approximately 180,000 metric tons in 2023, of which approximately 22,000 metric tons came from an established DLE project in Argentina. By 2030, global lithium demand is expected to surpass 2.4 million metric tons of lithium carbonate equivalent.

Currently, several established lithium companies as well as new entrants, are targeting DLE production in the coming years. Conventional, stick-built DLE plants can take five to six years to deploy, while IBAT, by contrast, can deploy its modular DLE plant infrastructure in 18 months' time.

IBAT's modular lithium extraction plant has been independently verified to extract more than 97% of available lithium from brine. Due to the plant's advanced water recovery rate of up to 98% of water recycled, IBAT's technology is highly protective of sensitive water resources. IBAT has demonstrated that the technology can extract lithium from subterranean brine sources and return the lithium-depleted brine to the same subsurface aquifer in a closed recycling loop.

About International Battery Metals Ltd.

IBAT is an advanced technology company focused on the development of environmentally responsible methods of extracting lithium compounds from brine. IBAT has developed a patented modular direct lithium extraction (DLE) plant which allows for rapid deployment to a resource holders production site. IBAT is working with resource holders of oilfield brines, brine aquifers, and industrial customers with brine by-products. IBAT believes the modular design of its DLE plant provides significant initial costs savings to customers and the proprietary DLE technology lowers operating costs by selectively extracting lithium from the brine while efficiently removing contaminants.

ON BEHALF OF THE BOARD

Garry Flowers, CEO

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company's control that may cause actual results or performance to differ materially from those currently anticipated in such statements.

Forward‐looking and cautionary statements

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This release may contain statements within the meaning of safe harbour provisions as defined under securities laws and regulations.

This release may contain certain forward-looking statements with respect to certain of the plans and objectives of the Company, including statements with respect to the expected timing for commencement of production, and the production capacity of IBAT's initial DLE plant deployment with US Mag, expectations about the future operations of IBAT, and statements relating to anticipated future global lithium demand. The use of any of the words "will", "expected", "view", "believes" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual results and developments may differ materially from those contemplated by forward-looking information as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. Additional information regarding risks and uncertainties of the Company's business are contained in the Company's public filings which are available under the Company's profile on SEDAR+ at www.sedarplus.ca. Readers are cautioned not to place undue reliance on forward-looking information. The statement made in this press release are made as of the date hereof. The Company disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.

Statistics and estimates relating to global lithium demand contained in this news release have been obtained from Statista, and have not been independently verified by IBAT.