Advantage Lithium Corp. announce the results of a Pre-Feasibility Study ("PFS") based on production of Battery Grade Lithium Carbonate from a 25 ktpa nameplate capacity stand-alone plant located at its Cauchari JV in the province of Jujuy, Argentina. The PFS was prepared by Worley, Chile S.A. FloSolutions SpA (FloSolutions) prepared the resource and reserve estimates for the PFS as summarised in this announcement. The total Direct Capital cost of the Project for a 25 ktpa nameplate facility of lithium carbonate is estimated at USD 318 million. The total initial capital cost estimate is USD 446 million which includes Direct Costs, Indirect Costs and Contingency costs of USD 74 million estimated at 20% of the total initial capital costs. The Project economic evaluation includes additional capital expenditure totalling USD 157.5 million for expansion of the well field production from the initial NW sector into the SE sector along with increasing the evaporation pond area and additional salt harvesting machinery purchasing, in order to maintain stable lithium production over the life of mine. The deferred capital expenditure is planned for year 5 and year 9. In addition, the Project includes sustaining capital expenditure of USD 2.7 million per year and a peak working capital expenditure of USD 33.5 million. The resource estimation work was followed by the development of a three-dimensional numerical flow and transport model (FEFLOW Code) to evaluate options for wellfield configurations and brine production schedules and to develop a Reserve Estimate. The modeling work was carried out by the DHI Group1 under supervision of FloSolutions. The process is unchanged from the PEA design and scaled up due to the increased production capability resulting from expanded lithium resource. Brine is pumped to the surface and directed to a series of evaporation ponds and since Cauchari brine is a low Mg/Li type of brine, the magnesium is removed with slaked lime as magnesium hydroxide. The brine also contains sufficient sulphate in order to precipitate the calcium as gypsum liberated from the lime. During the evaporation process principally halite salts, glaserite and some sylvite and borate salts are crystalized generating a concentrated lithium solution suitable to precipitate lithium carbonate. The concentrated lithium solution is further polished in order to reduce the calcium, magnesium and other metal levels in order to produce an industrial technical grade, which is then re-crystallized in order to make a very pure battery grade product. Battery grade lithium carbonate product is planned to be transported to Antofagasta, Chile for shipment overseas. Production is modelled to start in 2022 with the plant ramping up over 3 years to a steady state of 25 ktpa lithium carbonate.