Announcement • Jan 29
Galan Lithium Limited has filed a Follow-on Equity Offering in the amount of AUD 41 million. Galan Lithium Limited has filed a Follow-on Equity Offering in the amount of AUD 41 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 86,600,000
Price\Range: AUD 0.41
Discount Per Security: AUD 0.0246
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 13,400,000
Price\Range: AUD 0.41
Discount Per Security: AUD 0.0246
Transaction Features: Subsequent Direct Listing Announcement • Jan 23
Galan Lithium Limited Announces Management Changes Galan Lithium Limited confirms the formal appointment of Mr. Ofer Amir, Founder of the Clean Elements Fund, to its Board as a Non-Executive Director as foreshadowed in the ASX announcement dated November 5, 2025. Mr. Amir brings strong European capital markets expertise to Galan. Further, Katherine Garvey has been appointed as Galan’s new Company Secretary, replacing Mr. Mike Robbins who has served the Company through multiple stages of growth and development in his role since 2013. Ms Garvey is a corporate lawyer with significant experience in the resources sector. Katherine advises companies on a variety of corporate and commercial matters including capital raisings, finance, acquisitions and disposals, Corporations Act and ASX Listing Rule compliance, corporate governance and company secretarial issues and has extensive experience drafting and negotiating various corporate and commercial agreements. The effective date of these appointments is January 23, 2026. Board Change • Dec 30
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Non-Executive Director Maria Pohl Ibanez was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Oct 13
Galan Lithium Limited, Annual General Meeting, Nov 17, 2025 Galan Lithium Limited, Annual General Meeting, Nov 17, 2025. Location: at the park business centre, 45 ventnor avenue, wa 6005, west perth Australia Announcement • Jul 29
Galan Lithium Limited Announces Incentive Regime for Hmw Project in Argentina Galan Lithium Limited advised that the Comite Eval Ecuador de Proyectos RIGI, responsible for awarding the Argentine Government's Regimen de Incentivo para Grandes Inversiones (the incentive regime for large-scale investments referred to as the "RIGI"), has approved the RIGI for Galan's Hombre Muerto West ("HMW") Project in Catamarca Province, Argentina. Galan now expects to receive official approvals relating to the RIGI in due course. The RIGI is a landmark investment framework introduced as part of the Government of Argentina's new economic reform agenda, aimed at encouraging large-scale investment in key sectors, including mining. The RIGI provides long-term certainty on tax and foreign exchange regulations, as well as streamlined permitting, both critical enablers for project financing, efficient construction and operation of the HMW Project over its multi-decade life. HMW will be only the sixth project to receive the RIGI approval in Argentina and the second in the mining sector, following the recent award to Rio Tinto's Rincon project. Key Benefits of the RIGI for the HMW project: Reduced Corporate Income Tax: a significant 10% reduction in corporate income tax rate to 25%. Fiscal Stability: Certainty around income tax, royalties, and export duties for 30 years. Foreign Exchange: Preferential access to currency markets for imports and dividend repatriation. Customs & Tariff Exemptions: Reduced barriers for importing critical equipment and materials. Accelerated Depreciation: Improved cash flow through tax-effective project development. HMW is a multi-decade, lithium brine project in Argentina with compelling economics. Phase 1 provides for a 4ktpa LCE operation, producing a 6% LiCl concentrate product over a projected 40-year life (1). Galan expects first Phase 1 production in H1 2026 and has secured an offtake agreement for 45,000 t LCE of production. Beyond Phase 1, the Company will undertake a phased scaling approach, eventually ramping up to 60ktpa at the conclusion of Phase 4. This approach mitigates funding and execution risk and will allow for continuous process improvement. With a world class resource and a cost profile within the first quartile globally, HMW is a clear demonstration of the benefits of a high-quality lithium brine asset. These benefits are allowing Galan to progress through development and into production with a lower capital intensity and lower risk profile when compared to hard rock lithium (spodumene) projects. As importantly, lithium chloride is a key component for lithium iron phosphate (LFP) batteries, which have become the dominant battery product globally. With the ability to be cost effectively converted into a lithium dihydrogen phosphate or lithium carbonate, lithium chloride, as will be produced at HMW, is an ideal source for LFP batteries. The Galan Board has authorised this release. Please refer to the Mineral Resource Statement for Galan's Total Resources of 9.5Mt LCE. Announcement • Jun 21
Galan Lithium Limited has filed a Follow-on Equity Offering in the amount of AUD 10 million. Galan Lithium Limited has filed a Follow-on Equity Offering in the amount of AUD 10 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 90,909,091
Price\Range: AUD 0.11
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Announcement • May 27
Galan Lithium Limited has completed a Follow-on Equity Offering in the amount of AUD 13.361603 million. Galan Lithium Limited has completed a Follow-on Equity Offering in the amount of AUD 13.361603 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 6,545,455
Price\Range: AUD 0.11
Discount Per Security: AUD 0.0066
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 99,832,755
Price\Range: AUD 0.11
Discount Per Security: AUD 0.0066
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 6,000,000
Price\Range: AUD 0.11
Discount Per Security: AUD 0.0066
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 9,090,910
Price\Range: AUD 0.11
Transaction Features: Subsequent Direct Listing Announcement • Jan 30
Galan Lithium Limited has completed a Follow-on Equity Offering in the amount of AUD 11.801001 million. Galan Lithium Limited has completed a Follow-on Equity Offering in the amount of AUD 11.801001 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 69,533,340
Price\Range: AUD 0.105
Discount Per Security: AUD 0.0063
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 42,857,143
Price\Range: AUD 0.105
Discount Per Security: AUD 0.0063
Transaction Features: Subsequent Direct Listing Announcement • Oct 25
Galan Lithium Limited has completed a Follow-on Equity Offering in the amount of AUD 0.620697 million. Galan Lithium Limited has completed a Follow-on Equity Offering in the amount of AUD 0.620697 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 5,911,399
Price\Range: AUD 0.105
Transaction Features: Subsequent Direct Listing New Risk • Oct 15
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: AU$9.5m Forecast net loss in 3 years: AU$32m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (36% average weekly change). Earnings are forecast to decline by an average of 25% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (69% increase in shares outstanding). Revenue is less than US$1m (AU$941 revenue, or US$631). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (AU$32m net loss in 3 years). Market cap is less than US$100m (€45.8m market cap, or US$50.0m). Breakeven Date Change • Oct 14
Forecast to breakeven in 2025 The analyst covering Galan Lithium expects the company to break even for the first time. New forecast suggests the company will make a profit of AU$287.2k in 2025. Announcement • Oct 11
Galan Lithium Limited, Annual General Meeting, Nov 15, 2024 Galan Lithium Limited, Annual General Meeting, Nov 15, 2024. Location: at hall chadwick, 283 rokeby road, subiaco wa 6008, Australia New Risk • Sep 26
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 71% 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 (32% average weekly change). Earnings are forecast to decline by an average of 13% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (71% increase in shares outstanding). Revenue is less than US$1m (AU$3.6k revenue, or US$2.5k). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$11m net loss in 2 years). Market cap is less than US$100m (€40.5m market cap, or US$45.2m). Announcement • Aug 14
Galan Lithium Limited has completed a Follow-on Equity Offering in the amount of AUD 13.91385 million. Galan Lithium Limited has completed a Follow-on Equity Offering in the amount of AUD 13.91385 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 56,521,740
Price\Range: AUD 0.23
Discount Per Security: AUD 0.0138
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 3,973,262
Price\Range: AUD 0.23
Discount Per Security: AUD 0.0138
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Announcement • Aug 08
Energy Exploration Technologies, Inc made a non-binding indicative proposal to acquire Argentinian Lithium Assets from Galan Lithium Limited (ASX:GLN) for $100 million. Energy Exploration Technologies, Inc made a non-binding indicative proposal to acquire Argentinian Lithium Assets from Galan Lithium Limited (ASX:GLN) for $100 million on August 6, 2024. As per the terms, EnergyX will pay $50 million in cash and will issue common shares which values at $50 million. The proposal is subject to due diligence and negotiation and execution of definitive, binding transaction documentation and consideration by Galan’s board. Announcement • Aug 07
Galan Response to AFR Street Talk Article Galan Lithium Limited (ASX:GLN) refers to a recent media report that it has received a takeover bid. Galan advises that it has not received a takeover bid but that it has received an unsolicited, confidential, conditional, non-binding indicative proposal from NXT Energy Solutions Inc. (OTCPK:NSFD.F) (Energy Exploration Technologies Inc.) (EnergyX) in relation to a potential acquisition of Galan's Argentinian lithium assets (Proposal). The Proposal is to acquire assets and real property held by Galan related to its holdings in Salar del Hombre Muerto and Candelas (Project Assets) for USD 50 million in cash, and common shares in EnergyX which EnergyX values at USD 50 million. EnergyX is a corporation incorporated under the laws of Puerto Rico and its securities, including its common shares, are not quoted or traded on any stock exchange. Under the Proposal EnergyX would also provide: USD 50 million, which it is noted would not be payable to Galan but rather to EnergyX's wholly owned subsidiary which would own the Project Assets, with those funds to be committed and wholly dedicated to completing the first commercial phase of lithium production at Hombre Muerto West and maintaining the Project Assets and a 10% gross revenue royalty to Galan for 10 years starting from commercial production. Galan has been seeking to negotiate a confidentiality agreement with EnergyX in respect of the Proposal. The confidentiality agreement currently sits with EnergyX. The Proposal is conditional on, amongst other things, completion of satisfactory due diligence and negotiation and execution of definitive, binding transaction documentation. The Proposal remains subject to consideration by Galan's board, and given the early stage nature of discussions and its conditionality, there is no certainty a transaction will eventuate. Given the Proposal contemplates the disposition of Galan's main undertaking, Galan shareholder approval would be a necessary condition to completion under a binding agreement, if such an agreement were to eventuate. Galan confirms that it is in compliance with ASX Listing Rules, particularly, Listing Rule 3.1, and will keep shareholders informed in accordance with its continuous disclosure obligations. New Risk • May 26
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 53% 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 (21% average weekly change). Earnings are forecast to decline by an average of 60% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (53% increase in shares outstanding). Revenue is less than US$1m (AU$3.6k revenue, or US$2.4k). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$38m net loss in 2 years). Market cap is less than US$100m (€66.2m market cap, or US$71.8m). Announcement • May 20
Galan Lithium Limited has filed a Follow-on Equity Offering in the amount of AUD 14.000001 million. Galan Lithium Limited has filed a Follow-on Equity Offering in the amount of AUD 14.000001 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 56,521,740
Price\Range: AUD 0.23
Discount Per Security: AUD 0.0138
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 4,347,828
Price\Range: AUD 0.23
Discount Per Security: AUD 0.0138
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Announcement • Mar 21
Galan Lithium Limited, Annual General Meeting, Apr 22, 2024 Galan Lithium Limited, Annual General Meeting, Apr 22, 2024, at 11:30 W. Australia Standard Time. Location: Hall Chadwick, 283 Rokeby Road, 6008 Subiaco Western Australia Australia Agenda: To consider the ratification of the prior issue of 35,261,150 placement shares listing rule 7.1A; to consider the ratification of the prior issue of 608,415 placement shares listing rule 7.1; to consider the ratification of the prior issue of 35,869,565 placement options; to consider the approval of director participation in placement - MR JUAN PABLO VARGAS DE LA VEGA; to consider the approval of director participation in placement - MR RICHARD HOMSANY; and to discuss other matters. New Risk • Feb 01
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €87.4m (US$94.5m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings are forecast to decline by an average of 43% per year for the foreseeable future. Revenue is less than US$1m (AU$3.6k revenue, or US$2.4k). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (AU$45m net loss in 3 years). Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (€87.4m market cap, or US$94.5m). Recent Insider Transactions • Dec 15
MD & Director recently bought €79k worth of stock On the 12th of December, Juan Pablo de la Vega bought around 250k shares on-market at roughly €0.32 per share. This transaction amounted to 1.4% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Juan Pablo has been a buyer over the last 12 months, purchasing a net total of €143k worth in shares. Announcement • Oct 12
Galan Lithium Limited, Annual General Meeting, Nov 16, 2023 Galan Lithium Limited, Annual General Meeting, Nov 16, 2023, at 11:00 W. Australia Standard Time. Location: Hall Chadwick, 283 Rokeby Road Subiaco Western Australia Australia Agenda: To consider and adoption of remuneration report; to consider and approve election of Director; to consider and approve of 10% placement capacity; and to consider any other matter. Breakeven Date Change • Oct 06
No longer forecast to breakeven The 2 analysts covering Galan Lithium no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of AU$55.7m in 2026. New consensus forecast suggests the company will make a loss of AU$49.0m in 2026. Announcement • Oct 05
Galan Lithium Limited (ASX:GLN) and Infinity Stone Ventures Corp. (CNSX:GEMS) entered into a definitive agreement to acquire Taiga, Camaro and Hellcat Lithium Projects in James Bay Lithium Province from Infinity Stone Ventures Corp. (CNSX:GEMS) and others for CAD 0.64 million. Galan Lithium Limited (ASX:GLN) and Infinity Stone Ventures Corp. (CNSX:GEMS) entered into a definitive agreement to acquire Taiga, Camaro and Hellcat Lithium Projects in James Bay Lithium Province from Infinity Stone Ventures Corp. (CNSX:GEMS) and others for CAD 0.64 million on October 3, 2023. Pursuant to the terms of the agreement, in consideration for the Company’s interest in the Property, the Company will receive total cash consideration of CAD 0.5 million and 0.25 million shares in the capital of Galan. Completion of the transaction is subject to the satisfaction or waiver of all conditions set out in the Agreement, customary closing condition, as well as the receipt of all regulatory and stock exchange approvals. Closing of the transaction is anticipated to occur on or about October 5, 2023. New Risk • Oct 05
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 9.2% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$36m free cash flow). Share price has been highly volatile over the past 3 months (9.2% average weekly change). Earnings are forecast to decline by an average of 47% per year for the foreseeable future. Revenue is less than US$1m (AU$3.6k revenue, or US$2.3k). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (AU$49m net loss in 3 years). Shareholders have been diluted in the past year (14% increase in shares outstanding). New Risk • Aug 29
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 46% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$23m free cash flow). Earnings are forecast to decline by an average of 46% per year for the foreseeable future. Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (AU$29m net loss in 3 years). Share price has been volatile over the past 3 months (7.9% average weekly change). Shareholders have been diluted in the past year (14% increase in shares outstanding). Breakeven Date Change • Aug 22
Forecast to breakeven in 2026 The 2 analysts covering Galan Lithium expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of AU$55.8m in 2026. Average annual earnings growth of 53% is required to achieve expected profit on schedule. Recent Insider Transactions • Jul 18
MD & Director recently bought €64k worth of stock On the 14th of July, Juan Pablo de la Vega bought around 115k shares on-market at roughly €0.55 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Juan Pablo's only on-market trade for the last 12 months. New Risk • Jul 02
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$23m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$23m free cash flow). Earnings are forecast to decline by an average of 41% per year for the foreseeable future. Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (AU$24m net loss in 3 years). Share price has been volatile over the past 3 months (10.0% average weekly change). Shareholders have been diluted in the past year (11% increase in shares outstanding). New Risk • Jun 30
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 41% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 41% per year for the foreseeable future. Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (AU$24m net loss in 3 years). Share price has been volatile over the past 3 months (9.9% average weekly change). Shareholders have been diluted in the past year (11% increase in shares outstanding). Breakeven Date Change • Mar 23
No longer forecast to breakeven The analyst covering Galan Lithium no longer expects the company to break even during the foreseeable future. The company was expected to make a profit of AU$500.3k in 2025. New forecast suggests the company will make a loss of AU$1.11m in 2025. Breakeven Date Change • Mar 15 The analyst covering Galan Lithium previously expected the company to break even in 2025. New forecast suggests the company will make a profit of AU$480.9k in 2025.
Recent Insider Transactions • Feb 22
Non-Executive Director recently bought €81k worth of stock On the 16th of February, Daniel Schuster bought around 105k shares on-market at roughly €0.77 per share. This transaction amounted to 4.5% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €221k more in shares than they have sold in the last 12 months. Announcement • Feb 08
Galan Lithium Limited Announces Move to 100% Title of Candelas Project in Catamarca, Argentina The Board of Galan Lithium Limited announced that it has moved to 100% full ownership of the Candelas Project in the Catamarca Province, Argentina. The Candelas Project is supported by a full Preliminary Economic Assessment and a JORC 2012 Resource and lies approximately 40 km ESE of the HMW Project. It is hosted within a 15 km by 3-4 km wide structurally controlled basin infilled with sediments that host the Li-bearing brines. The mineral resource estimation was undertaken by SRK Consulting (Australasia) (SRK) and was based upon results from a total of eight (8) holes drilled in the North and Central Zones at Candelas for a total of 3,537 metres. On 30 November 2021, the Company announced the results of a PEA study for its 100% owned Candelas Project in Catamarca Province, Argentina. The study, at a minimum, complies with the Canadian NI 43- 101 regulation known as a PEA and is equivalent to a JORC Scoping Study. For further PEA information, including Cautionary Statement, refer to the Galan ASX Announcement dated 30 November 2021 entitled "Excellent Preliminary Economic Assessment Results for Candelas Project in Catamarca, Argentina". The Study estimated a production profile of 14,000 tonnes per annum of battery grade lithium carbonate product including some technical grade product for the first three (3) years.The preparation of the Project's PEA was managed by Ad Infinitum and Galan's Project Manager for the engineering inputs including the recovery method, project layout and infrastructure, capital cost and operating cost estimates and overall economic evaluation. The other sections of the study were managed by consultants and employees of Galan Lithium Limited. Once the Hombre Muerto West DFS is complete, Galan's geological team will undertake a thorough review of all Candelas data. Reverse osmosis studies have shown that the Candelas project has a reliable water source. The results from these studies indicate there will be minimal to no need to access water from the Los Patos river. Announcement • Jan 17
Galan Lithium Limited Announces Successful 2022 Pumping Test Program Galan Lithium Limited announced the successful completion of the 2022 brine pumping test campaign at its flagship Hombre Muerto West Project in Catamarca Province, Argentina. Strong extraction and production well chemistry results from all three long-term brine pumping tests support the Definitive Feasibility Study as it approaches completion. Further exploration drilling and sampling has continued across the HMW Project tenements to complement surface geophysical work. A total of three production pumping wells were completed during the second half of 2022 - two at Pata Pila and one at Rana de Sal. Each production pumping well was constructed at previous exploration platforms and included diamond drill holes to confirm the stratigraphic characteristics of the reservoir, production capacity, and optimum design for production wells. Each test consisted of an initial step test, a 72-hour constant rate and recovery test, and then a long-term pumping and recovery test period. Brine levels were constantly monitored through multiple monitoring wells, each of which was specifically designed to monitor the brine levels response of individual hydrogeological units (shallow and deep). Brine chemistry was also analysed from each pumping well. The results from the three production wells tested at HMW, confirm that the HMW Project is ready to provide the brine flow and quality for the 4Ktpa LCE pilot development, expecting construction in H2 2022. The third and final long-term pumping test at the HMW Project was undertaken on well PPB-02- 22 between 8 November and 8 December 2022 (30 days). The average flow rate over the duration of this test was 21.2 L/s, with a range between 19.0 and 23.2 L/s. A total of 121 samples were recovered during the LTPT test and chemical analysis was undertaken at Alex Stewart NOA laboratory in Jujuy, Argentina. The average extracted lithium grade was 838 mg/L, with a range between 815 and 866 mg/L. During the LTPT, measured drawdown at observation well PP-02-22 reached less than 6 metres, indicating the presence of a highly transmissive zone. Subsequent analysis of the aquifer transmissivity is higher when compared to the previous LTPTs at Pata Pila and Rana de Sal. This was expected due to the coarser sediments recovered during PPB-02-22 drilling and its more proximal location along the alluvial fan. A new surface geophysical survey at the HMW Project was conducted by Quantec Geoscience Argentina during November and December 2022. This new survey used the Transient Electromagnetic Method and consisted of 13 lines which spanned more than 23 km. With this new data, the deposit has been fully constrained within the resource area, providing a better geometric resolution. Additionally, this work provides further confidence in exploration targeting future resource expansion - for example, in the Santa Bárbara tenements where drilling is now in progress at drillhole, SB-01-22. With the aim of expanding the HMW Project resource and reserves, exploration well PS-01-22 has been drilled at Pucara del Salar. This diamond drill hole is 300m deep with recovered core indicating the presence of highly fractured rock, expected to be associated with a high permeability zone. Airlift results from PS-01-22 indicate the presence of high-grade brine, with lithium concentrations reaching up to 988 mg/L and averaging 974 mg/L. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Non-Executive Chairman Richard Homsany was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Non-Executive Chairman Richard Homsany was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Apr 15
Non-Executive Director recently sold €56k worth of stock On the 8th of April, Daniel Schuster sold around 38k shares on-market at roughly €1.49 per share. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought €7.7k more than they sold in the last 12 months. Is New 90 Day High Low • Jan 15
New 90-day high: €0.28 The company is up 229% from its price of €0.085 on 16 October 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 52% over the same period. Recent Insider Transactions • Jan 13
Non-Executive Director recently sold €401k worth of stock On the 11th of January, Christopher Chalwell sold around 2m shares on-market at roughly €0.27 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €393k more than they bought in the last 12 months. Is New 90 Day High Low • Dec 30
New 90-day high: €0.25 The company is up 211% from its price of €0.079 on 01 October 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 45% over the same period. Is New 90 Day High Low • Dec 07
New 90-day high: €0.23 The company is up 191% from its price of €0.081 on 08 September 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 6.0% over the same period. Is New 90 Day High Low • Nov 27
New 90-day high: €0.21 The company is up 141% from its price of €0.087 on 28 August 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 3.0% over the same period.