Toronto, Ontario--(Newsfile Corp. - March 16, 2026) - Avalon Advanced Materials Inc. (TSX: AVL) (OTCQB: AVLNF) ("Avalon" or the "Company") is pleased to announce the appointment of Glen Smith, P.Eng., as Project Director, Refinery Feasibility & Construction, based in Thunder Bay, where he will lead the advancement of the Company's Lake Superior Lithium Inc. ("LSLi") Project.
As project momentum continues and feasibility work advances, Mr. Smith's over 35 years of experience as a professional engineer across the hydrometallurgical, petrochemical, and nuclear industries will be instrumental in progressing the LSLi Project through its next stage of development. He brings extensive expertise in process design, process control, plant operations, and project execution - capabilities directly aligned with the technical requirements of advancing the project toward construction readiness. His experience spans engineering and feasibility studies, brownfield and greenfield project development, operations readiness, plant commissioning, and operational optimization, with project work undertaken across Canada, the United States, South America, Africa, and Asia.
This presents a significant step forward for Avalon's technical team and engineering partners in Thunder Bay as it advances the detailed work required to complete the feasibility study by 2027 and further position the project for development planning.
"As the project advances, it is essential that we have a fully integrated project team based in Thunder Bay. Mr. Smith positions the technical leadership on the ground for close coordination of engineering activities, effective project management, and direct engagement with regional partners and communities. Building this capability locally strengthens our ability to advance the project in a disciplined and responsible manner and we are thrilled to welcome Glen," said Scott Monteith, President and CEO of Avalon Advanced Materials Inc.
LSLi PEA Project Highlights
- After-tax Net Present Value of Cdn $4.1 billion at an 8% discount rate and an after-tax Internal Rate of Return of 48% over a 30-year operating mine life, based on annual production of approximately 30,000 tonnes of battery-grade lithium hydroxide.
- LSLi is positioned to deliver a state-of-the-art lithium hydroxide conversion facility, supplying battery-grade material to the rapidly growing EV and energy-storage sectors.
- Located in Thunder Bay, Ontario, the project benefits from existing road, rail, deep-water port, power, and municipal infrastructure, supporting accelerated development timelines and reduced execution risk.
- The plant will use Metso's advanced, lower-carbon processing technology to produce 30,000 tpa of lithium hydroxide or carbonate. A full Feasibility Study is underway with Nordmin Engineering and Primero North America, selected for their extensive experience with the Metso Process. The Feasibility Study will include trade-off studies with a comprehensive evaluation of whether battery-grade lithium hydroxide and/or lithium carbonate represents the optimal final product for the facility, based on evolving market demand, customer qualification requirements, and downstream engagement.
- The Thunder Bay refinery converts what would normally be waste minerals in lithium processing into analcime, a usable industrial material that has blending applications in the cement industry.
- Completion of a Preliminary Economic Assessment in September 2024 demonstrating strong project economics, supporting advancement into the Feasibility Study phase.
- Advancing with a strong focus on environmental responsibility, social accountability, and sound governance. Sustainability features include on-site renewable energy integration and responsible by-product utilization, supporting Canada's climate objectives and Ontario's clean-growth priorities.
- Engaged SCP Resource Finance as strategic capital advisor to support the development of a long-term capital and partnership strategy in connection with Avalon's lithium and rare earth element projects.
About Avalon Advanced Materials Inc.
Avalon Advanced Materials Inc. is a Canadian critical minerals company advancing the supply of materials essential for Canada's future. The Company is focused on developing strategic assets that support secure, domestic supply chains and long-term economic growth. Avalon is advancing the Nechalacho Rare Earth Elements and Zirconium Project in the Northwest Territories, which contains all light and heavy rare earth elements, as well as yttrium, zirconium, tantalum, and niobium-critical minerals used in advanced technologies across the communications, defense, clean tech, and energy sectors. The Company is also focused on vertically integrating the Ontario lithium supply chain through the development of Lake Superior Lithium Inc., Ontario's first midstream lithium hydroxide processing facility, located in Thunder Bay. This facility will serve as a cornerstone of North America's integrated battery materials supply chain, transforming northern Ontario lithium into essential inputs for transportation, grid storage, and advanced manufacturing. Through its joint venture with SCR Sibelco NV, Avalon holds a minority interest in the Separation Rapids Lithium Mining Project near Kenora, Ontario.
For further information regarding Avalon Advanced Materials Inc., please visit www.avalonadvancedmaterials.com, email ir@avalonam.com, or call 416-364-4938.
Cautionary Statement Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "add" or "additional", "advancing", "anticipates" or "does not anticipate", "appears", "believes", "can be", "conceptual", "confidence", "continue", "convert" or "conversion", "deliver", "demonstrating", "estimates", "encouraging", "expand" or "expanding" or "expansion", "expect" or "expectations", "forecasts", "forward", "goal", "improves", "increase", "intends", "justification", "plans", "potential" or "potentially", "promise", "prospective", "prioritize", "reflects", "robust", "scheduled", "suggesting", "support", "top-tier", "updating", "upside", "will be" or "will consider", "work towards", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved".
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including those risk factors discussed or referred to in the annual information form of the Company dated November 26, 2025 (the "AIF") under the heading "Description of the Business - Risk Factors". Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Although the Company believes that the assumptions and expectations reflected in such forward-looking information are reasonable, undue reliance should not be placed on forward-looking information because the Company can give no assurance that such expectations will prove to be correct. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288613
Source: Avalon Advanced Materials Inc.
