Vancouver, BC – TheNewswire - March 13, 2024 - One World Lithium Inc. (OTCQB-OWRDF) (CSE-OWLI) (the “Company” or “OWL”) is pleased to announce  a one year extension to March 1, 2025 of its Non-Exclusive Research and Evaluation License with Option (Patent) (the “License”) with the US Department of Energy’s (“DOE”) National Energy Technology Laboratory (“NETL”) for the DOE’s Patents titled Selective Lithium Recovery as Lithium Carbonate from natural brine. 

Doug Fulcher, President and CEO, commented “We are  pleased to have signed  a one year extension with NETL. The extension will allow OWL and NETL to evaluate commercial  applications  of the DOE’s two  patents for Lithium Carbonate  Extraction.”  

OWL and MatterGreen LLC. (“ MG”) entered into a Definitive Agreement on September 28, 2023 whereby MG will assign two patent applications for Lithium Carbonation, the first patent application is for natural brines and the second is for slurries made from pegmatite, clay, volcanic rock and sediment After the assignment OWL will be the sole and exclusive owner of the patent applications (the "OWL Patent Applications”).

Under the Agreement MG will conduct and manage the development, testing and R&D laboratory work associated with the commercialization of the DOE License  and the OWL Patent Applications.  MG will take two months to assemble its laboratory. The work will be carried out in the Lab facilities  in Albany, Oregon.

In addition, MG states “By consuming carbon dioxide from industrial waste streams and air in carbonation processing, the process can produce carbon-neutral lithium carbonate for battery cathode manufacturing, which would generate a premium on the market price.”

Stock Option Grant

The Company also announces it has granted incentive stock options to an advisor of the Company to purchase up to an aggregate of 1,000,000 common shares of the Company (the “Options”). The Options are exercisable on or before March 13, 2026, at a price of $0.05 per common share, being the minimum allowed closing price of the Company’s common shares on the Canadian Stock Exchange on March 12, 2024. All Options are fully vested and were granted in accordance with the Company’s Stock Option Plan.

About One World Lithium Inc.

One World Lithium Inc. remains focused on properties of merit that may contain lithium in brine. The Company is also focused on commercial application of its Direct Lithium Extraction Technology. OWL intends to license or joint venture its technology to current and future lithium carbonate producers. For more information, visit: https://oneworldlithium.com/.

On behalf of the Board of Directors of One World Lithium Inc.,

“Douglas Fulcher”

President and Chief Executive Officer

For further information please visit www.oneworldlithium.com or email info@oneworldlithium.com        

or call 604-644-4359.

Forward-Looking Information: This press release may include forward looking information within the meaning of Canadian securities legislation. Forward looking information is based on certain key expectations and assumptions made by the management of the OWL, including, but not limited to OWL & MG’s collective abilities to commercialize the DOE Patents and MG’s Patent Applications. Although OWL believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because OWL can give no assurance that they will prove to be correct. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from the those anticipated in such statements, important factors that could cause actual results to differ materially from the company’s expectations include: (I) inability of OWL & MG to commercialize its DLE technology (II) OWL’s inability to execute its business plan and raise any required financing, (III) risks and market fluctuations common to the mining industry and lithium sector in particular, and (IV) advancements in other new DLE technologies. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, some of which are beyond the control of the OWL. The reader is cautioned not to place undue reliance on any forward-looking information contained in this press release.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.