NEXT Lithium Partners with Liontown for the Development and 100% Sale of the Centenario Lithium Project

Highlights

• NEXT Lithium partners with a top-tier lithium producer with the experience, technical capability and financial strength required to advance Centenario and realize its full potential.
• US$40 million (C$55 million) in project expenditure over a four-year period.
• US$155 million (C$215 million) in potential milestone payments over a four-year period, payable in cash, Liontown shares or a combination of both at NEXT Lithium's election.
• Initial consideration payable upon the farm-in agreement becoming unconditional comprises US$5 million (C$7 million) in cash and US$10 million (C$14 million) in Liontown shares.
• The Centenario Project is one of the last large-scale, undeveloped lithium brine projects in Argentina.
  
  

VANCOUVER, British Columbia, Sept. 01, 2026 (GLOBE NEWSWIRE) -- NEXT Lithium Corp. (NEXT) has executed a binding farm-in agreement with Liontown Limited (ASX: LTR) under which Liontown can earn up to a 100% interest in the Centenario lithium brine exploration project located in Salta Province, Argentina (the Project).

The 14,577-hectare Centenario Lithium Project is strategically located adjacent to two of Argentina's largest lithium production and development projects:

• To the west, the Pozuelos-Pastos Grandes Project, jointly owned by Lithium Argentina and Ganfeng Lithium, has announced plans targeting production of up to 150,000 tonnes per annum of lithium carbonate; and
• To the south, Eramet's Centenario-Ratones operation, which is currently in production, has announced plans to expand production capacity to up to 150,000 tonnes per annum of lithium carbonate.
  
  

The transaction provides Liontown with a low-cost entry into a strategic lithium brine position in Argentina while providing NEXT Lithium with a clear pathway to advance Centenario with a well-capitalized development partner.

Centenario also complements Liontown's established hard-rock lithium operations at Kathleen Valley in Western Australia, adding exposure to a large-scale lithium brine opportunity in one of the world's most important lithium-producing regions.

NEXT Lithium CEO Kyle Stevenson said:

“The Centenario Project is one of the last large-scale lithium brine exploration projects in Argentina. Partnering with Liontown provides the experience, technical capability and financial strength needed to advance Centenario and realize its full potential.”

“As NEXT becomes a Liontown shareholder, I look forward to seeing the Centenario Project explored and advanced, and to the value it will create for shareholders. I believe the addition of a large-scale lithium brine asset complements Liontown's existing hard-rock operations and adds another dimension to its world-class lithium portfolio.”

Liontown Managing Director and CEO Tony Ottaviano said:

“This transaction gives Liontown a low-cost entry into lithium brine. Brine is one of the two primary sources of the world’s lithium, and this is our first step in building real understanding and capability in it.”

“Structuring the deal as a staged farm-in ties our capital to results, so we invest more only as the project proves itself. Kathleen Valley remains our priority, and we will keep pursuing value-accretive growth where it fits our strategy.”

Full details of the transaction can be found on Liontown’s website: www.liontown.com

About NEXT Lithium Corp.

NEXT Lithium Corp. is a privately held lithium exploration and development company focused on advancing the Centenario Lithium Project in Salta Province, Argentina.

NEXT was founded in 2020 by Kyle Stevenson, who serves as CEO and sole shareholder. Mr. Stevenson has extensive experience in Argentina's lithium brine sector and was previously a founder of two lithium brine development companies that were subsequently acquired:

• Millennial Lithium Corp., acquired by Lithium Americas Corp. in 2022 in a transaction valued at approximately US$400 million; and
• Alpha Lithium Corp., acquired by Tecpetrol in 2023 in a transaction valued at approximately US$225 million.
  
  

Through the Centenario transaction, NEXT will remain involved during the farm-in period, contributing its local knowledge, technical experience and relationships in Argentina as Liontown advances exploration and development of the Project.

Further Information

Kyle Stevenson
CEO/Director
T: 604-788-0537
E: kyle@nextlithium.com

Media Inquiries

Kamran Shaikh
Vice President, PRA Communications
T: 604-681-1407
E: kshaikh@pracommunications.com