Prairie Lithium Corp. & LiEP Energy Ltd. enter into a contractual joint venture to produce lithium

Regina, Saskatchewan (June 3, 2020) – Prairie Lithium Corp. (Prairie) and LiEP Energy Ltd. (LiEP) have reached an agreement, the Prairie-LiEP Critical Mineral (PLCM) Joint Venture, to initiate a two- stage pilot project to produce lithium hydroxide from Saskatchewan oilfield brines. Pending regulatory permits, stage one operations are expected to begin in July of 2020 and stage two of the project is planned to begin in the second half of 2021. Both parties are working with the Government of Saskatchewan and will ensure necessary environmental processes are completed through to commercialization.

Collaboration between both companies began in Q4 of 2019 when Prairie and LiEP successfully upgraded raw oil field brine water into lithium hydroxide. The brine water was sourced from an Enhanced Oil Recovery (EOR) waterflood in Saskatchewan. The entire process from raw brine to refined lithium product is anticipated to take under 6 hours, which is a vast improvement of the current industry standard of 18 months. Contingent upon the success of stage one, the second stage of the contractual joint venture will see the construction of one of Canada’s first lithium extraction and refining facilities. The facilities would utilize existing suspended oil & gas assets and provide a transition alternative to ageing oil & gas infrastructure.

“We are incredibly excited to begin exploring the vast, untapped lithium enriched aquifers in Saskatchewan, and usher in a new era of opportunity for the energy sector. Associated with the electrification of vehicles and desire for energy storage, is a tidal wave of demand for lithium. Saskatchewan has a unique opportunity to enter the battery materials supply chain by utilizing skills and infrastructure that are already in place. The oil wells that have powered the automotive industry of the past, can continue to power the automotive industry of the future.” – Zach Maurer, President & CEO at Prairie.

“Our team has done an amazing job at progressing our lithium refining technology. We are excited to showcase the abilities of Canadian technology and to continue to work towards diversifying the Canadian economy. We believe that it’s important to refine chemical elements in Canada and to localize our supply chains. By refining lithium in Saskatchewan, we have the ability to grow exports, expand the natural resource economy, promote the quality of our products and support the transformation of the economy through innovation.” – Haafiz Hasham, President & CEO at LiEP.

© 2020 LiEP Energy Ltd.