Century Lithium Corp. (LCE) is excited to announce the results of an updated National Instrument 43-101 compliant Feasibility Study for its wholly-owned Angel Island Lithium Project located in Esmeralda County, Nevada, USA.
The 2026 Feasibility Study reflects the results of ongoing metallurgical testing, engineering optimizations, a refined mine plan, and updated capital and operating cost estimates for Angel Island. It demonstrates robust project economics, highlighted by an after-tax net present value (NPV) of $4.01 billion.
There were no significant changes made to the Mineral Resource or Mineral Reserve estimates from the previous NI 43-101 Technical Report dated April 29, 2024, which have been fully utilized in the 2026 Feasibility Study.
All financial figures presented are in U.S. dollars.
The latest study reaffirms the technical and economic feasibility of developing the Angel Island project as a critical domestic source of battery-grade lithium carbonate in the United States. The mining operation is planned as a conventional open-pit method, extracting lithium-bearing claystone mineralization. The mined material will undergo processing on-site using hydrochloric acid leaching, solid-liquid separation, Direct Lithium Extraction (DLE), and lithium carbonate precipitation, culminating in the production of battery-grade lithium carbonate.
The 2026 Feasibility Study introduces a two-phase development plan, beginning with a 7,500 tonnes per day (tpd) operation, expandable to 15,000 tpd. Notably, the previously considered third expansion phase has been removed, allowing for a streamlined project execution and lowered capital requirements.
Bill Willoughby, President and CEO of Century Lithium, stated, "The results of the 2026 Feasibility Study represent a material improvement. Our team has achieved a more efficient development plan for the Project through various optimization steps, as seen in the capital and operating cost estimates. This reflects a more streamlined process in equipment and infrastructure, particularly in electrical demand."
A Class 3 capital cost estimate was developed in accordance with AACE guidelines and the Canadian Institute of Mining Metallurgy and Petroleum (CIM) Best Practices. The updated capital costs, based on second-quarter 2025 data, indicate a reduction relative to the 2024 Study, primarily due to the operational efficiencies of the planned chlor-alkali facility.
The economic analysis indicates that Angel Island remains economically attractive across a range of commodity price and cost assumptions, with lithium prices emerging as the principal driver of the project's value.
With a base-case lithium carbonate price of $24,000/t and an 8% discount rate, Angel Island demonstrates significant potential. Sensitivity analyses confirm that the project's economics are robust across a variety of cost and price scenarios.
Century Lithium is committed to advancing Angel Island through operational planning, permitting, detailed engineering, and stakeholder engagement as the project progresses toward a construction decision. Key steps include submitting the plan of operations and furthering permitting processes.
The Angel Island project is situated approximately 354 km southeast of Reno and encompasses 503 unpatented mining claims covering around 2,286 hectares. It hosts one of the largest known sedimentary lithium deposits in the United States, designed to support the growing electric vehicle and battery storage markets.
For those seeking more information about Century Lithium and its Angel Island project, additional details will be available through their upcoming NI 43-101 Technical Report and on Inside Ticker.