Ann: Catamarca Mining concessions Granted, page-5

BTW , just in case there is any doubt that this district is full of Lithium and worth the wait despite the patience required , GXY decision on their Catamarca projects speaks volumes.


Chairman of Galaxy, Martin Rowley commented that “this transaction with POSCO provides a substantial cash injection which underpins the development of Galaxy’s Sal de Vida brine project in the Catamarca Province of Argentina. The development of Sal de Vida by Galaxy, as a 40-year mine life project producing the equivalent of 25ktpa of battery grade lithium carbonate, will be based on the 100% retained reserves and will not include any of the estimated resource contained in the tenements being sold to POSCO. This transaction allows Galaxy maximum flexibility with the parallel formal process being conducted with JP Morgan. We look forward to working closely with POSCO on our projects for long term mutual benefit. With the geographical coverage of Galaxy and POSCO’s tenements spanning across both Catamarca and Salta Provinces, this transaction is also strategically significant as it means there will now be two new lithium projects developed concurrently on the Salar del Hombre Muerto, with obvious benefits for all stakeholders in the region”