Announcement • Jun 11
International Battery Metals Ltd. Reports Positive Dle Test Results Across Multiple Smackover Formation Brine Sources International Battery Metals Ltd. reported positive results from its testing program on brine samples sourced from multiple operators and resources across the Smackover Formation in Texas and Arkansas. Performance data confirms commercial viability of International Battery Metals Ltd.'s proprietary technology across a wide range of Smackover brine compositions. Lab testing program demonstrated more than 1,200 extraction cycles on a single column with no degradation. Operators are starting to produce larger quantities of lithium-rich brine water from test wells across the Smackover geological formation, which ranges from southern Arkansas to East Texas. With access to more brine samples, International Battery Metals Ltd. has been testing its technology across a wide variety of compositions and are seeing the continued high lithium recovery rates and media efficiency that was demonstrated in Utah in 2024, where the modular DLE plant cleared over 8,400 cycles, and the output was converted into 25 tonnes of battery-grade lithium carbonate. Over the past several months, International Battery Metals Ltd. lab-tested brine samples from multiple operators and resources across the Smackover formation and saw consistent results across every composition tested, with 98% lithium recovery and better than 99% contaminant rejection. With one brine sample, International Battery Metals Ltd. was able to perform over 1,200 cycles on a single column with zero degradation, confirming the media’s durability. The Smackover Formation has emerged as one of the most strategically important lithium brine resources in North America. Brine deposits in southern Arkansas and East Texas contain lithium concentrations ranging from 200 mg/L to >600 mg/L. The geological formation spans from Texas to Florida and has been producing oil, gas and bromine for over a century, giving it a well-developed regulatory framework, established oil, gas and brine production, including reinjection infrastructure and a deep base of operators with existing subsurface rights. The operators in this geological basin range from major energy companies to smaller independents, all of whom hold brine resources that are potentially monetizable through the right DLE partnership. The level of institutional interest in the formation has accelerated rapidly, with significant commercial production growth anticipated over the next decade. International Battery Metals Ltd.'s business model is straightforward. Resource holders bring what they already have: subsurface rights and existing production infrastructure. International Battery Metals Ltd. brings the extraction technology, process engineering expertise, and a commercial pathway to a battery-grade lithium product. Rather than requiring resource holders to build fixed, site-specific infrastructure, International Battery Metals Ltd.'s deployable plant architecture allows operators of any size to access a proven extraction process without the capital intensity of a greenfield DLE facility. International Battery Metals Ltd. is actively engaged with operators across the formation and expects these test results to accelerate partnership discussions. International Battery Metals Ltd.'s lab-based testing program assessed lithium recovery rates, selectivity against competing ions, and eluate purity across brine samples sourced from multiple operators representing a range of compositions present throughout the Smackover Formation in East Texas and southern Arkansas. The program included a long-cycle endurance/resiliency test as part of the same testing program. The long-cycle test ran a single extraction column for more than 1,200 cycles with no degradation in performance, providing a direct data point on media resiliency under sustained extraction conditions. The table below shows the consistency of key performance metrics from the Smackover lab testing program against International Battery Metals Ltd.'s prior commercial-scale plant deployment in Utah: Utah Deployment Smackover Lab Testing Setting Commercial-scale plant Laboratory Brine type Synthetic (magnesium tailings) Naturally occurring oilfield brine Lithium recovery Up to 98% per cycle ~98% Selectivity ~99% Contaminant Rejection ~99% Contaminant Rejection Extraction kinetics 60 gallons/minute/column (>20% of bed volumes/minute) ~20% of bed volume /minute Cycles completed 8,400+; 1,000+ single column 1,200+ (single column) Media degradation Minimal None These results confirm that International Battery Metals Ltd.'s technology is capable of delivering consistent lithium recovery and high selectivity across chemically diverse brine sources. International Battery Metals Ltd.'s direct lithium extraction technology is based on proprietary lithium extraction media housed in patented extraction columns. The columns are enclosed in modular, transportable skid-mounted platforms that can be transported and commissioned into production within a short time frame. Utilizing the patented technology, International Battery Metals Ltd.'s focus has been on advancing the extraction of lithium chloride from lithium-rich subsurface brine and produced water facilities. International Battery Metals Ltd.'s unique patented technology is focused on efficient delivery of lithium chloride while minimizing environmental impact. Announcement • Jun 09
International Battery Metals Ltd. to Report Q4, 2026 Results on Jun 17, 2026 International Battery Metals Ltd. announced that they will report Q4, 2026 results After-Market on Jun 17, 2026 New Risk • May 11
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 39% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (20% average weekly change). High level of non-cash earnings (73% accrual ratio). Shareholders have been substantially diluted in the past year (39% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$52.8m market cap, or US$38.6m). 
