Estimated Capital Expense of US$12 Million for Proposed 3 Tonne Per Day Lithium-ion Battery Cathode Recycling Plant

RecycLiCo Battery Materials (“AMY” or the “Company”) is pleased to announce that the company’s contractor, Kemetco Research, has developed a conceptual layout for RecycLiCo Battery Materials’s first commercial lithium-ion battery cathode recycling plant with a 3 tonne per day processing capacity. From Kemetco’s analysis and experience with comparative projects, the capital expense is estimated to be US$12 million accounting for the design and construction of specialized equipment. RecycLiCo Battery Materials’s confidence in the operation of the commercial plant is attributed to the scale-up and testing of the pilot plant project, assessing and mitigating risks associated with the transition to a commercial scale operation.

RecycLiCo Battery Materials has expressed interest in commercialization via licensing or joint venture agreements and plans to locate the recycling plant in a strategic location within North America, where it will prepare recycled products suitable for battery manufacturing. During these unprecedented times, the foreign dependency of rare earths and critical metals has turned resource security into national security and the RecycLiCo™ patented battery recycling technology is an opportunity for governments to advance research and assist in commercialization in order to secure a domestic supply of critical metals while promoting an environmentally responsible circular economy in the 21st century’s tech metals race.

“We have always been confident in Kemetco given their experience and recent achievements with ioneer’s lithium-boron project. Our conceptual plant layout brings together the last three and a half years of planning, theory, lab research, pilot plant tests, and optimization,” said Larry Reaugh, President and CEO of RecycLiCo Battery Materials. “Our methodological approach was not an overnight success like some competitors may allude and our first recycling plant will be a demonstration of the RecycLiCo™ Patented Process on a commercial scale as we continue to expand our global reach.”

RecycLiCo Battery Materials looks to upgrade capacity of the pilot plant project and continue testing sample lithium-ion battery material received from battery manufacturers to collaborate with proprietary cathode formulas that could achieve optimal material recovery, such as purity, particle distribution, and particle size, with minimal environmental impact.

About Kemetco Research Inc.
Kemetco Research is a private sector integrated science, technology and innovation company. Their Contract Sciences operation provides laboratory analysis and testing, field work, bench scale studies, pilot plant investigations, consulting services, applied research and development for both industry and government. Their clients range from start-up companies developing new technologies through to large multinational corporations with proven processes.

Kemetco provides scientific expertise in the fields of Specialty Analytical Chemistry, Chemical Process and Extractive Metallurgy. Because Kemetco carries out research in many different fields, it can offer a broader range of backgrounds and expertise than most laboratories.

About RecycLiCo Battery Materials
RecycLiCo Battery Materials is a critical metals company focused on the recycling of lithium-ion batteries with the RecycLiCo™ Patented Process. The process provides high extraction of cathode metals, such as lithium, cobalt, nickel, manganese, and aluminum at high purity, with minimal processing steps. RecycLiCo Battery Materials aims to commercialize its breakthrough RecycLiCo™ Patented Process and become an industry leader in recycling cathode materials from spent lithium-ion batteries.

On behalf of Management

RecycLiCo Battery Materials

Larry W. Reaugh
President and Chief Executive Officer

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The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain certain “Forward-Looking Statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time with the Toronto Stock Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.

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