Volt Lithium Corp. announced the achievement of another pivotal milestone on the path to commercializing its proprietary and proven next-generation Direct Lithium Extraction technology for processing oilfield brines. The Company has scaled-up production capacity to 96,000 litres per day (equivalent to 600 barrels per day ("bbls") and ("bbls/d")) representing a 100 times scale-up in its processing capabilities.

Following the strategic investment from its U.S. partner which closed on May 2, 2024, Volt has scaled-up operations at its field simulation centre in Calgary, Alberta (the "Field Simulation Centre") in order to build this first field unit for deployment in Third Quarter 2024. Volt has identified the Permian Basin as a key area to commence Company operations. The Permian Basin produces 19 million barrels of lithium infused oilfield brine each day, making it the single largest producer of oilfield brine in North America.

The Permian also has the necessary infrastructure in place to allow Volt to commence operations without incurring capital costs to: 1) drill wells; 2) build associated infrastructure to manage water production; Further, operating in the Permian will also allow Volt to commence commercial operations much sooner than would otherwise be the case, with substantially lower costs and no exploration risks. With operations set to commence in Third Quarter 2024, the Company has been focused on building its field unit for deployment and ensuring operational success in the field by simulating Permian Basin production conditions at the Field Simulation Centre. Volt's field unit built for deployment in Third Quarter 2024, represents a 1:166 scale to future commercial production.

Volt's field unit is modular based and provides the company with the ability to scale-up to process commercial levels of brine through the following methods: (1) add modules to increase processing capacity; (2) reduced lithium extraction time to increase volumes; and (3) larger extraction modules. The Company's phased scale-up approach, coupled with extensive testing at its Field Simulation Centre and strategic investment partnership, mitigates project execution risk and accelerates timeline to full-scale commercialization.