Rock Tech Lithium Clarifies Technical Disclosure Relating to the Lopare Lithium Project and Provides Strategic Update on Arcore Transaction
Rock Tech Lithium Clarifies Technical Disclosure Relating to the Lopare
Lithium Project and Provides Strategic Update on Arcore Transaction
TORONTO
,
July 7, 2025
/CNW/ -
Rock Tech Lithium Inc.
(TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V)
(the "Company" or "Rock Tech")
is
issuing this news release based on a review by staff of the Ontario Securities Commission to clarify that the mineral resource estimate disclosed for Arcore AG's
("Arcore") Lopare Lithium Project ("Lopare Lithium Project" or the "Project") in the Company's news release dated
February 20, 2025
is considered by the
Company to be a "historical estimate" within the meaning of Section 2.4 of National Instrument 43-101 -
Standards of Disclosure for Mineral Projects
("NI 43-
101").
The source of the historical estimate for the Project is a report completed for Arcore, which is a private
Switzerland
-based lithium mining company. The report
titled "Lopare-Boron-Lithium-Project" was completed by independent mining consultants CSA Global Pty Ltd. ("CSA Global"), an ERM Group Company, and has
an effective date of
November 30, 2022
. This report was not completed in accordance with NI 43-101 and Form 43-101F1
Technical Report
disclosure standards
and is currently not publicly available or available on SEDAR+. The historical estimate and report were completed and reported in accordance with the 2012
edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the "JORC Code").
The historical estimate is considered relevant and reliable as it demonstrates the Project's significant lithium and boron resource potential and was completed
using current mining industry best practice standards for mineral resource estimation. However, the Company cautions readers that this historical estimate was
not completed using CIM Definition Standards for Mineral Resources and Mineral Reserves (
May 2014
) and CIM Estimation of Mineral Resources and Mineral
Reserves Best Practice Guidelines (
November 2019
) and is not supported by a technical report completed in accordance with NI 43-101. In addition, under the
JORC (2012) Code standards, Measured, Indicated, and Inferred mineral resources can be aggregated, which is not permitted under NI 43-101.
The Lopare Lithium Project historical estimate was completed by CSA Global using a block model method with grade estimation completed using inverse distance
weighting squared (IDW²). The historical estimate was reported within a conceptual open-pit shell and determined using a lithium carbonate price of
US$40,000
/t
and boric oxide price of
US$1,322
(equivalent to a boric acid (H
3
BO
3
) price of
US$750
/t). These conceptual parameters and costs were determined by CSA
Global to support reasonable prospects for eventual economic extraction. The historical estimate was reported above a cut-off grade of 400 ppm Li
2
O and for
material less than 400 ppm Li
2
O, a 4% B
2
O
3
cut-off grade was applied. The historical estimate is based on 14,035 assay sample results from 69 historical drill
holes.
Additional technical work is required prior to upgrading or verifying the historical estimate. Specifically, a field exploration program and diamond drilling program
focused on confirming existing geological and drill hole data, including twinning a selection of specific drill holes, is required in order to verify or upgrade the
historical estimate to a current mineral resource. At this time, Rock Tech does not have direct access to the Lopare Lithium Project site and, as such, has not
been able to conduct independent verification or due diligence on the geological data. There are no other historical estimates for the Lopare Lithium Project.
A Qualified Person has not done sufficient work to classify this historical estimate as current mineral resources and Rock Tech is not treating this
historical estimate as current mineral resources.
Update on the Arcore Transaction
Rock Tech is pleased to provide a strategic update on the transaction (the "Transaction") with Arcore, previously announced on
February 20, 2025
, which aims to
establish a fully integrated European lithium company by combining Rock Tech's Guben Converter in
Germany
with Arcore's Lopare Lithium Project in
Bosnia-
Herzegovina
.
Since signing the business combination agreement, the Company has continued to work on key workstreams and is carefully assessing the opportunity within the
broader context of its project portfolio.
The outstanding closing conditions include:
Technical and Legal Due Diligence
Board and Shareholder Approvals
Regulatory Approvals (including TSX Venture Exchange)
€50 Million Financing Strategy
Definitive Agreements
The completion of the Transaction remains subject to the fulfillment of closing conditions, including but not limited to receipt of all necessary regulatory approvals
and compliance with applicable legal and tax requirements. The Transaction is also contingent upon capital being raised in the amount of at least €50 million, in the
form of equity, equity-linked, or equity-like securities into the new joint venture. Closing is currently targeted for the third quarter of 2025.
QUALIFIED PERSON STATEMENT
The scientific and technical information disclosed in this news release has been prepared and approved by
Cameron Andrews
, P.Eng., General Manager Georgia
Lake Project, and considered a Qualified Person under NI 43-101.
Neither the TSX venture exchange nor its regulation services provider (as that term is defined in policies of the TSX venture exchange) accepts responsibility for
the adequacy or accuracy of this release.
On behalf of the Company,
Mirco Wojnarowicz
CEO
ABOUT ROCK TECH
Rock Tech's vision is to supply the electric vehicle and battery industry with sustainable, locally produced lithium, targeting a 100% recycling rate. To ensure
resilient supply chains, the company plans to build lithium converters at the doorstep of its customers, beginning with the Company's proposed Lithium Hydroxide
Converter in Guben, Brandenburg,
Germany
. The second Converter is planned to be built in,
Ontario, Canada
. Rock Tech Lithium plans to source raw material
from its own
Georgia Lake
spodumene project in the Thunder Bay Mining District of
Ontario, Canada
, and procure from other ESG-compliant mines. Ultimately,
Rock Tech's goal is to create a closed-loop lithium production system. Rock Tech has gathered one of the strongest teams in the industry to close the most
pressing gap in the clean mobility story. The Company has adopted strict environmental, social and governance standards and is developing a proprietary refining
process to increase efficiency and sustainability further.
Rock Tech Lithium Inc, 2700-40 Temperance Street, Toronto ON M5H 0B4 CAN.
CAUTIONARY NOTE CONCERNING FORWARD-LOOKING INFORMATION
Certain statements contained in this news release constitute "forward-looking information" under applicable securities laws and are referred to herein as "forward-
looking statements". All statements, other than statements of historical fact, which address events, results, outcomes or developments that the Company expects
to occur are forward-looking statements. When used in this news release, words such as "expects", "anticipates", "plans", "predicts", "believes", "estimates",
"intends", "targets", "projects", "forecasts", "may", "will", "should", "would", "could" or negative versions thereof and other similar expressions are intended to
identify forward-looking statements. In particular, this press release contains forward-looking information pertaining to expectations or predictions concerning the
establishment of the joint venture company, the Transaction and certain terms and conditions thereof, the regulatory approvals, fulfilment of closing conditions,
and/or about the mineral resource or reserve or outcome of the Lopare Lithium Project, the Company's and/or Arcore's intentions with respect to the development
and timing thereof and statements regarding further exploration activities future plans, activities and schedules relating to such projects and related development
including the Guben Converter and/or the Lopare Lithium Project; the commissioning of an updated NI 43-101 compliant technical report with respect to the
Lopare Lithium Project; statements regarding the Company's future plans, estimates, and schedules relating to the joint venture company, the Guben Converter
and/or the Lopare Lithium Project, including the anticipated timing of future activities taken in support of the development thereof; Rock Tech's potential financing
arrangements; the anticipated timing and outcomes of a final investment decision and regulatory approvals, construction activities and commissioning of the Guben
Converter; statements regarding the Company's sustainability and ESG related goals and strategy, including the benefits and achievement thereof and future
actions taken by the Company in relation thereto; Rock Tech's opinions, beliefs and expectations regarding the Company's business strategy, development and
exploration opportunities and projects; and plans and objectives of management for the Company's operations and properties. The forward-looking information in
this news release is based on several key assumptions and material factors, including but not limited to, the successful completion of technical and legal due
diligence, obtaining necessary board, shareholder, and regulatory approvals, securing the required €50 million financing, and the timely execution of definitive
agreements, the alignment of the Transaction with Rock Tech's growth strategy and capital allocation priorities. The forward-looking information also assumes
favorable market conditions for lithium, the accuracy of historical estimates provided by CSA Global, and the successful verification and upgrading of these
estimates through planned exploration and drilling programs. Forward-looking statements by their nature are based on assumptions and involve known and
unknown risks, uncertainties and other factors which may cause the actual results to differ materially from the forward-looking statements, including general
business, economic, competitive, political and social uncertainties; delay or failure to receive regulatory approvals; inability to complete the financing in connection
with the Transaction; delay or failure to close the Transaction; and uncertainties and other factors discussed in the Company's most recent management's
discussion and analysis and annual information form filed with the applicable securities regulators. No assurances can be given that any of the events anticipated
by the forward-looking statements will transpire or occur, and the Company cautions the reader not to place undue reliance upon any such forward-looking
statements. The Company does not intend, nor does it assume any obligation to update or revise any of the forward-looking statements, whether as a result of
new information, changes in assumptions, future events or otherwise, except to the extent required by applicable law.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in
the
United States
in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United
States Securities Act of 1933, as amended, and may not be offered or sold in
the United States
absent registration or an applicable exemption from registration
requirements.
View original content:
https://www.prnewswire.com/news-releases/rock-tech-lithium-clarifies-technical-disclosure-relating-to-the-lopare-lithium-project-and-provides-strategic-update-on-arcore-transaction-302499286.html
SOURCE
Rock Tech Lithium Inc.
View original content:
http://www.newswire.ca/en/releases/archive/July2025/07/c3202.html
%SEDAR: 00005870E
For further information:
For further information: Kerstin Wedemann, Chief Legal & Corporate Officer - [email protected]; +49 2102 894 1122
CO: Rock Tech Lithium Inc.
CNW 17:00e 07-JUL-25