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C1X - ASX Release - Cosmos Signs Option Agreement with EAU Lithium.pdf

Cosmos invests in EAU Lithium Pty Ltd, allowing it to utilize Vulcan Energy Resources' (ASX:VUL) Direct Lithium Extraction (A-DLE) technology to unlock the vast lithium brine potential of Bolivia

James Durrant, Director of EAU Lithium said:

"This investment from Cosmos comes at an important time for EAU Lithium as we transition into the technology testing stage and begin advancing negotiations for Industrialization Agreements. With their investment and future access to the Australian capital markets, arguably the worlds most evolved mining and lithium focused investment stock exchange, and with Vulcan Energy Resource's A-DLE technology and strategic support, and in partnership with Bolivian state lithium company, YLB, EAU Lithium hopes to become a leading developer of sustainable lithium production in a country with one of the world's highest lithium reserves."

Todd Romaine, President of EAU Lithium said:

"This support from Cosmos is a testament to the long term view in the significance of this project and the development of critical lithium supplies to support global decarbonization efforts. This project help positions Bolivia down the path of an emergent global leader in the energy transition process. With the support of Cosmos and the utilization of Vulcan's A-DLE technology, EAU Lithium has the real opportunity to responsibly advance a globally significant project while simultaneously maximizing positive societal benefits to local stakeholder communities and more broadly across Bolivian society."  

Dr Francis Wedin, Executive Chairman of Vulcan Energy Resources said:

"It's great to see Vulcan's proprietary high performance lithium extraction technology VULSORB® being deployed globally with EAU Lithium and Cosmos. Whilst Vulcan's focus is and will always be building and operating our own integrated lithium and renewable energy production in Europe, our intention is to maintain technological leadership by also growing the technology division of our business, and in doing so helping partner companies and jurisdictions build sustainable low-cost lithium production worldwide."

Cosmos Executive Chairman and RareX Chairman, Jeremy Robinson, said:

“This agreement is an exciting step for Cosmos Exploration as we align ourselves with EAU Lithium and their existing partnerships with YLB in Bolivia and Vulcan Energy Resources. EAU’s recently signed technology agreement gives them the opportunity to test lithium brines from Bolivia’s premier salt lakes using Vulcan Energy’s state-of-the-art VULSORB® technology. While the results of this testing will determine the next steps, the potential for this to progress into an industrialization agreement in a joint venture for the processing of brines is a significant milestone in the sustainable development of Bolivia’s world-leading lithium resources.

“We are excited by the opportunity to partner with one of the world’s leading lithium and renewable energy

developers to unlock one of the world’s greatest and hitherto largely untapped sources of lithium. This is a

major step forward for Cosmos as we advance our critical minerals strategy and seek to deliver value to our

shareholders in the clean energy sector.”