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Galan Acquires Catalina Tenure in Catamarca and Salta Provinces in Argentina Galan Lithium Limited

Galan Acquires Catalina Tenure in Catamarca and Salta Provinces in Argentina

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Galan Lithium Limited secures complete ownership of highly prospective Catalina tenement

The Board of Galan Lithium Limited is thrilled to announce that the company now possesses 100% full ownership of the Catalina tenement, which spans the Catamarca and Salta Provinces in Argentina. This acquisition is a significant milestone for Galan, resulting in a value accretive transaction that strengthens the company's position in this promising area.

JP Vargas de la Vega, Galan's Managing Director, expressed his excitement over the acquisition, stating, "This is a highly significant development for Galan. With exclusive ownership of the Catalina tenure and no competing interests, our team can now expedite exploration and evaluation activities. Our objective is to delineate a maiden resource, and we are enthusiastic about the progress we will make. "

Galan has successfully executed the necessary agreements to register its full ownership of the Catalina tenure, which has been issued by the Catamarca and Salta authorities. This resolution mirrors the experience of POSCO with their tenure in the Hombre Muerto salt flat.

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However, it's important to note that a long-standing political border dispute between Salta and Catamarca has been ongoing for over 100 years. This dispute includes the northern part of the Salar del Hombre Muerto, causing overlapping mining rights issued by both provincial mining authorities. The ownership of the disputed area, which includes Catalina, Rana de Sal II, Rana de Sal III, Pucara del Salar, and Deceo I, remains uncertain and subject to further deliberation by the Federal Congress.

In light of this complexity, Galan has successfully negotiated an agreement with the Salta private owner, ensuring that the company owns 100% of the Catalina project in both Salta and Catamarca. To solidify this ownership, Galan will issue 9,756,098 fully paid ordinary shares in the capital of the company. This resolution brings clarity to the private ownership and potential mine development of the Catalina tenure.

With this important acquisition, Galan Lithium Limited has resolved the uncertainty surrounding the Catalina tenure and is now poised to move forward with its exploration and development plans. The company remains committed to keeping its shareholders informed of its progress as it works towards unlocking the full potential of the Catalina project.

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