Vulcan Energy (Vulcan, ASX: VUL, FSE: VUL, the Company) is pleased to report strong production flow test performance of its LSC-1b sidetrack from the LSC-1 vertical well, in the Phase One Lionheart Project Field Development Plan (FDP) within Germany's Upper Rhine Valley Brine Field (URVBF).
Following Vulcan's previous announcement on 19 November 2025, which reported strong drilling performance and positive geological, thermal and lithium-in-brine results (but noted that production potential could not yet be verified due to a completion-related issue), the Company has now successfully tested the well's production and flow rate performance.
The results confirm and further strengthen expectations of the Lionheart FDP, providing further confidence as Phase One construction and execution continues following the securing of project financing in December 2025. Phase One Lionheart, now fully funded1, involves the construction of an integrated lithium and renewable energy project targeting production capacity of 24,000 tonnes of lithium hydroxide monohydrate (LHM), enough for ca. 500,000 electric vehicle batteries per annum, with a co-product of 275 GWh of renewable power and 560 GWh of heat per annum for local consumers, over an estimated 30-year project life2.
January 27, 2026
