Aterian PLC - Rio Tinto Joint Venture Update

In exciting news, Aterian PLC has successfully met the necessary conditions to initiate the lithium-focused Earn-In Investment and Joint Venture Agreement with Rio Tinto in Rwanda. With the joint venture now in effect, both companies are gearing up for exploration activities at the HCK Project site.

Rio Tinto will invest up to US$7.5 million in two stages to earn a 75% interest in the HCK License for mineral exploration crucial for renewable energy transition. Additional perks include a capped Net Smelter Return and the potential addition of Aterian's other Rwandan projects.

The HCK Project boasts 19 identified pegmatite zones across its 2,750-hectare license in southern Rwanda. Aterian is excited to kick off exploration efforts and is committed to providing updates on progress to the market.