Advantage Lithium Corp. announced 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. ("Worley"), a leading integrated independent engineering services firm with extensive experience in the design and construction of lithium brine projects in Argentina and Chile. FloSolutions SpA (FloSolutions) prepared the resource and reserve estimates for the PFS as summarised in this announcement. Based on these encouraging results, intention is to engage quickly with several parties who have expressed an interest in making an investment decision in the Cauchari JV project." 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 totaling 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 Operating Costs estimates are also divided into Direct Costs and Indirect Costs, as shown below in table 3. This table reflects the variations in costs produced by the effect of expanding the well field production from the initial NW sector into the SE sector along with increasing the evaporation pond area. The life of mine (LOM) average Direct Costs associated with the brine extraction and processing operations are estimated at USD 3,493 per tonne of lithium carbonate. Indirect Costs include G&A and some local costs and are estimated at USD 67 per tonne for a Total OPEX average of USD 3,560 per tonne. The operation plan for the PFS is based on the extraction of the lithium-rich brine by a conventional wellfield with pump installations and proven processing techniques. This has been simulated over the life of mine by FloSolutions, resulting in the Reserve Estimate. The Reserve Estimate represents the lithium contained in the brine produced by the wellfields as input to the evaporation ponds. Brine production initiates in Year 1 from wells located in the NW Sector. In year 9, brine production switches across to the SE Sector of the Project until year 31 when currently defined reserves are depleted.