American Battery Materials Receives Approvals to Reenter Exploration Well in Utah

GREENWICH, CT / ACCESSWIRE / November 22, 2024 / American Battery Materials, Inc. (OTC PINK:BLTH) ("ABM" or the "Company"), a U.S. based renewable energy company focused on the extraction, refinement and distribution of technical minerals in an environmentally responsible manner, announced today that the Company has received necessary agency approvals to reenter the Peterson Fed 88-21P well bore in southeast Utah, pending the required financial guarantee.

David Graber, CEO of American Battery Materials, stated, "We are excited to be resuming exploration activities in Utah, and we believe the project has great potential with the confirmation of deposits in the existing Peterson Fed 88-21P well bore. Lisbon Valley will be our immediate focus moving into 2025."

These approvals come following detailed reviews by the Bureau of Land Management (BLM) and the Utah Department of Natural Resources Division of Oil, Gas, and Mining (DOGM). According to the BLM's decision, the Company's Notice was deemed complete and compliant with regulations, requiring a financial guarantee to ensure proper reclamation. Similarly, DOGM's tentative approval affirmed readiness for the project, contingent on final surety concurrence.

This milestone underscores the Company's commitment to advancing its direct lithium extraction (DLE) capabilities in an environmentally responsible manner, supporting the growing demand for domestic critical minerals.

About American Battery Materials

American Battery Materials, Inc. is a U.S.-based environmentally responsible critical minerals exploration and development company focused on direct lithium extraction (DLE), as well as other minerals for refining, processing and distribution to support the country's urgent critical minerals need to bolster long-term energy transition and the electrification of the U.S. domestic and global economy.

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Forward-Looking Statements

To the extent that statements contained in this press release are not descriptions of historical facts regarding the Company, they are forward-looking statements reflecting the current beliefs and expectations of management. Words such as "believe," "goal," "plan," "feel," "may," "will," "expect," "anticipate," "estimate," "intend," "target" and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause our future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the Company, please see the Company's Annual Report on Form 10-K for the year ended December 31, 2023 and its Quarterly Reports on Form 10-Q, including but not limited to the discussion under "Risk Factors" therein, which the Company has filed with the SEC and may be viewed at http://www.sec.gov.

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Investor Relations Contact

Ira M. Gostin
IR@AmericanBatteryMaterials.com
775-391-0213

SOURCE: American Battery Materials