The Clayton Valley Lithium Brine Project

Cruz’s Clayton Valley Lithium Brine Project is located in Nevada, USA.

• As an early mover in this play, Cruz is one of only four companies (Albemarle, SLB & Sienna Resources) to have access to the deepest parts of the only lithium brine basin in production in North America
• This project directly borders SLB (formerly Schlumberger) (NYSE:SLB) who has recently completed the earn-in requirements to acquire 100% of the CV Project.

The 240-acre ‘Central Clayton Valley Lithium Brine Project’ is located in the heart of Clayton Valley in Esmeralda County, Nevada, USA, completely surrounded by SLB’s (formerly Schlumberger Limited) Clayton Valley lithium brine project. Cruz now has a combined footprint of 820 acres prospective for lithium brine in Clayton Valley, Nevada.

According to a CNBC article dated January 2, 2025, China’s push to develop its own electric cars hit a tipping point in July, with the share of new energy vehicles sold accounted for more than half all passenger cars sold that month, according to the passenger car association. New energy vehicles include battery-only and hybrid-powered cars. The trend persisted through November, which saw a penetration rate of 52.3%, according to association data.

On January 3, 2025, GM announced that for the fourth quarter, sales were up 21% from the year-earlier period. Electric vehicle sales jumped 50% for the quarter and 125% for the year, roughly doubling our market share over the course of the year. GM was the #2 seller of EVs in the U.S. across the second half of 2024.

James Nelson, President of Cruz, commented “Despite the ferociously negative sentiment around lithium and EV’s over the last two years, the recent data clearly shows that EV sales are increasing and the momentum for EV sales globally is in fact strengthening, not weakening. Therefore, we feel domestically sourced lithium projects in 2025 will garner significantly more market interest than the previous two years.”

Announced on September 11, 2024, Pure Energy Minerals Ltd.’s partner, SLB, has now completed a comprehensive technology demonstration and testing program as required to earn-in to the company’s 100-per-cent-owned Clayton Valley lithium brine project (CV project) in Esmeralda County, Nevada.

Pure Energy and SLB formed a partnership in May, 2019, which provides for SLB to design, permit, develop and build a state-of-the-art pilot plant for direct lithium extraction (DLE) of lithium brines from the Clayton Valley property. The sustainable lithium demonstration plant, operated by SLB, currently is producing lithium carbonate (Li2CO3) product, a direct component of lithium batteries in mobile phones, electric vehicles and energy storage.

SLB has demonstrated completion of specific technical milestones to qualify the earn-in to 100-per-cent ownership of the CV project, which include continuous production of lithium carbonate for an extended period and achieving a material quantity of lithium product in excess of a required purity threshold, which was verified by a third party.

Cruz management cautions that past results or discoveries on properties in proximity to Cruz may not necessarily be indicative to the presence of mineralization on the Company’s properties. Mr. Frank Bain, P.Geo., a director of Cruz and a Qualified Person as defined by National Instrument 43-101 has reviewed and approved the scientific and technical disclosure contained within this website.

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