GT1 Secures C$100M Financing Interest, Advances Lithium Projects in Ontario

Strategic Financing Boost for Seymour Project

Green Technology Metals Limited (ASX: GT1) has taken a significant step forward in its ambition to become Ontario's leading vertically integrated lithium producer. The company announced receipt of a Letter of Interest (LOI) from Export Development Canada (EDC), a Crown corporation, indicating potential project financing support of up to C$100 million for its flagship Seymour Lithium Project. This endorsement not only signals government backing for critical minerals supply chains in Canada but also strengthens GT1's diversified financing strategy amid strong interest from global commercial lenders.

Exploration Success at Junior and Root Projects

GT1’s exploration efforts continue to bear fruit, with the maiden drilling campaign at the Junior Lithium Project uncovering multiple stacked pegmatites close to surface. Early assays reveal high-grade lithium mineralisation, with pegmatites averaging between 3.8 to 12.6 meters thick and extending over a 700-meter strike length. This discovery is pivotal for the Eastern Hub development, ensuring a steady feedstock supply for the Seymour concentrator.

Meanwhile, the Root Bay project in the Western Hub has seen completion of a deep diamond drilling program, delivering encouraging results that extend known pegmatite zones to over 1,200 meters downdip. These findings bolster confidence in resource expansion and support ongoing studies to optimise mining methods, including underground extraction potential.

Advancing the Thunder Bay Conversion Facility

In parallel with resource development, GT1 is progressing its downstream ambitions through a joint Pre-Feasibility Study (PFS) with South Korean battery materials leader EcoPro Innovation for a proposed lithium conversion facility in Thunder Bay. The partnership has matured with integrated project teams formed, site selection underway, and pilot plant testing planned at EcoPro’s Pohang facility. This facility aims to add value locally, create jobs, and strengthen Ontario’s battery materials supply chain.

Capital Discipline and Permitting Progress

Reflecting current market conditions, GT1 is implementing a capital conservation plan focused on advancing critical permitting and study milestones while managing expenditure prudently. The company’s cash position stood at A$5.35 million at quarter-end, with ongoing government funding support, including C$5.47 million conditional approval for infrastructure upgrades to improve access to Seymour. Permitting efforts continue with active Indigenous community engagement and environmental assessments progressing smoothly.

Outlook and Market Positioning

GT1’s integrated approach, from exploration through to processing, positions it well within the evolving lithium market, particularly as demand for battery-grade materials intensifies. The combination of government-backed financing interest, promising exploration results, and strategic partnerships underscores the company’s potential to deliver a robust lithium supply chain in Ontario. However, pending assay results and final investment decisions remain key near-term catalysts to watch.