Eureka Resources (Eureka), a leader in mineral recovery from unconventional sources, announced today that they have successfully extracted 97% pure lithium carbonate from oil and natural gas brine from production activities with up to a 90% recovery rate.
This achievement, accomplished in partnership with SEP Salt & Evaporation Plants Ltd. (SEP), marks a significant milestone in the company's mission to develop a sustainable lithium supply chain in North America. Eureka's patented water treatment process also recycles and converts over 80% of the wastewater by volume to freshwater, which is available for beneficial use.
This breakthrough is significant because it unlocks a domestic source of lithium for the U.S. market, reducing reliance on foreign sources of lithium from China and South America while simultaneously addressing critical environmental challenges. Eureka's patented, closed loop process involves a combination of physical and chemical treatment, concentration, and crystallization using existing industrial equipment. This process has been in operation for over ten years extracting commercial-grade sodium chloride and calcium chloride as well as clean water. The expansion of these facilities to include extraction of lithium as lithium carbonate as a fourth output will be operational within two years, making it the fastest to market for a new lithium source in the U.S., setting it apart from all other domestic extraction methods, including Direct Lithium Extraction (DLE).
The recent passage of the Inflation Reduction Act (IRA) incentivizes electric-vehicle manufacturers to use domestic sources of lithium in their vehicles, creating significant demand for Eureka's domestic lithium supply. This helps the United States achieve its decarbonization goals without relying on foreign sources of lithium, which are in short supply and create their own supply chain complexities.
'We are thrilled to announce this advancement in our mineral extraction capabilities,' said Eureka Resources CEO Dan Ertel. 'Our patented process for extracting lithium from brine wastes and other industrial wastewaters is not only environmentally friendly, but also provides a reliable domestic source of lithium for the U.S. market. This is a major step forward in our mission to create sustainable, domestic solutions for critical mineral recovery.'
'Sending the first lithium carbonate crystals produced from Eureka's concentrated brine filled us with great satisfaction. It is a validation of SEP's vast experience in the salt and lithium crystallization area and of its laboratory testing capabilities assisting development of novel recovery processes for unconventional brine sources,' said Jens-Holger Schmidt, CEO of SEP.
This announcement is a testament to Eureka's and SEP's joint commitment to sustainability, innovation, and responsible resource development of resources in support of clean energy initiatives. With a bright future ahead, Eureka is well-positioned to become a domestic leader in the production of sustainable lithium and is poised to make a major impact in the battery industry and beyond.
About Eureka Resources
Headquartered in Williamsport, Pennsylvania, Eureka Resources has three facilities serving companies working in the Marcellus Shale. Two wastewater treatment facilities - one in Williamsport, PA and the other near Towanda, PA - have the capacity to treat 10,000 barrels of wastewater per day. A third facility, also in Williamsport, serves as a secure storage site for offloading of produced water as well as storage and distribution of coproducts. All three facilities are geographically positioned for easy access by Marcellus Shale oil and gas producers and their transportation partners. The Company is committed to providing sophisticated technology solutions that provide for the environmentally responsible treatment of wastewater and co-product generation including critical mineral recovery. Convenient locations also help reduce transportation costs and provide alternatives to disposal through deep well injection.
About SEP
SEP is an evaporation and crystallization technology firm, headquartered in Switzerland, specializing in developing, designing and supplying sustainable, efficient and high-quality recovery and production processes and plants.
About Haddington Ventures
Eureka Resources is a portfolio company of Haddington Ventures, LLC. Founded in 1998, Haddington Ventures oversees a growing portfolio of renewable energy businesses that are bringing innovative new infrastructure to the U.S. energy sector. Haddington's unique combination of industry knowledge, investment experience and operational expertise provides an important advantage in identifying and creating value in its investment opportunities. Generally, Haddington invests in companies whose businesses support the vast operating and infrastructure requirements driven by the growing demand for energy.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, the predictability of commodities markets and raw material markets. Such statements are based upon the current beliefs and expectations of Eureka's management and are subject to certain risks and uncertainties, including, but not limited to, competitive market pressures, changes in foreign currency and exchange rates, international trade risks, changes in policy by foreign governments, and changes in environmental and other governmental regulation. Actual results may differ from those set forth in the forward-looking statements.
Contact:
Ashley Dunchick
Tel: 570-651-9972
KORE MINING LTD. 
