Bolivia Lithium Brines Update

Bolivian Qualification for 3^rd Phase of the 2024 Convocatoria

Las Vegas, Nevada, May 16, 2024 (GLOBE NEWSWIRE) -- NEXT-ChemX Corporation (OTC: CHMX), (“NEXT-ChemX”) is pleased to announce, the Bolivian State Lithium Company (“YLB”) received technical materials submitted by its strategic partner, Clontarf Energy plc, (“Clontarf”) in relation to Phase 2 of the invitation for proposals (“convocatoria”) for seven priority salares (salt pans) in Southern Bolivia.

YLB confirmed on the 14^th of May, 2024 that the partnership through Clontarf is one of the 21 companies approved to enter Phase 3 of the (5-phase) process. The Phase 2 was centered upon a technical aspects of state-of-the-art Lithium extraction technologies, especially emerging Direct Lithium Extraction technologies.

Phase 3 of the process will include confirmation of the Clontarf/NEXT-ChemX JV partnership's financial capacity as well as demonstration of NEXT-ChemX’s pilot plant that is being built in India. Clontarf and NEXT-ChemX have been working closely together on the Bolivian extraction opportunity since 2022.

Clontarf announced in its Press Release yesterday, that it had broadened its "Team Europe" partnership to include financing and offtake partners representing key OEM manufacturers in the German Mittelstand, which includes high tech, battery-quality lithium off takers. Clontarf further acknowledged the European Commission's leadership and strong support for the European companies involved, including initiating high-level negotiations over infrastructure financing, and issuing a Letter of Comfort for the qualified European companies. More Lithium from more environmentally friendly from brine sources may be classified as a strategic project under the EU's Critical Resource Minerals Act.

CEO of NEXT-ChemX Corporation, Mr. Wilcoxon, states, “Our acceptance into Phase 3 of the 5-phase process is a significant milestone for our iTDE technology. There are still challenges ahead of us and while there can be no assurances we will receive final approvals; we remain confident in our technology and will need to wait until pilot plant testing of the selected brines to determine the cost effectiveness of our environmentally friendly solution.”

About NEXT-ChemX Corporation

NEXT-ChemX Corporation is an innovative technology company preparing to introduce its proprietary, patented novel Membrane-Based Ion Extraction Technology, known as iTDE technology (ion Targeting Direct Extraction) that has been proven to extract very low concentrations of certain ions from liquid solutions, while reducing the harmful impact to the environment using current processes. Our system uses a unique hollow fiber technology to extract lithium directly from brines, leach solutions, or recycled battery solutions. The extraction process is continuous, proven and can be used for a range of metal ions and radioactive ions. In addition, the system performs exceptionally well and more economically when purifying bio-oils and biodiesel. Our unique technology is easily scalable, and we are currently developing a modular extraction pilot plant which would allow for the rapid deployment of an extraction facility and its onsite assembly even in remote and difficult environments.