Lithium South Development Corporation provided an update regarding the ongoing development of the HMN Li Project, located on the Hombre Muerto salar, in Salta Province, Argentina. Spanning 3,287 salar located hectares, the HMN Li Project is comprised of five key claim blocks: Alba Sabrina (2089 hectares), Norma Edit (115 hectares), Viamonte/Natalia Maria (595 contiguous hectares), Gaston Enrique (55 hectares), and Tramo (383 hectares). Alba Sabrina Production Well One (ASPW1) has been drilled to 340 meters depth and is nearing the target depth of 400 meters.

The well has encountered sand and sand/broken rock from surface to the current depth. Porosity is anticipated to be good. Upon target depth, the well will then be cased, developed, and a pumping test will be completed.

A technical review is underway to determine the optimal location for further pumping wells on the Alba Sabrina claim block. The Preliminary Economic Assessment (PEA) announced October 18, 2023, is nearing completion. Knight Piesold Consulting and JDS Energy and Mining are now completing the financial model.

Full results are expected shortly. The PEA will have an Initial Design Capacity of 15,000 tonnes per year Lithium Carbonate Equivalent.