Key Facts:
South Korean binding offtake deal for Prairie Lithium (ASX: PL9) with Hydro Lithium.
AU$10M strategic equipment commitment from Hydro Lithium.
Government-backed milestone signed in Seoul in the presence of Canadian and South Korean dignitaries.
First production on track for Q4 2026 with construction at Prairie's Phase 1 facility in Saskatchewan is well advanced.
Prairie Lithium (ASX: PL9) signs binding definitive agreement with South Korea's Hydro Lithium, covering 100% of Phase 1 output with AU$10M proprietary refining equipment commitment.
WEST PERTH, AUSTRALIA / REGINA, SASKATCHEWAN — 2 April 2026 — Prairie Lithium Limited (ASX: PL9, OTC: PLIXF) ('Prairie Lithium' or 'the Company') today announced it has executed a Binding Definitive Agreement with South Korea-based Hydro Lithium for the purchase of 100% of Phase 1 production from its Prairie Lithium Project in Saskatchewan, Canada.
The agreement covers 150 Tonnes Per Annum (TPA) of Lithium Carbonate Equivalent (LCE), Prairie's initial commercial-scale proof-of-concept output — and represents one of the most significant commercial milestones in the Company's history. (1)
In addition to purchasing the full Phase 1 output, Hydro Lithium will provide and operate approximately AU$10 million of its proprietary lithium refining equipment at the Saskatchewan project site, materially reducing Prairie's capital requirements for Phase 1 processing.
Construction at the Phase 1 facility in Saskatchewan is well advanced.
Production and disposal wells have been drilled, power infrastructure has been installed, and the building to house the direct lithium extraction (DLE) equipment is nearing completion. First production is targeted for Q4 2026.
Prairie Lithium Managing Director, Paul Lloyd, says,
"This is a monumental agreement for Prairie Lithium, as we now capture the entire value chain from resource to battery grade production. Hydro Lithium is an incredible project partner for us, with existing operations and battery grade lithium production.
This provides us a very clear path in which we will establish and grow revenues, and be one of the first lithium brine producers in North America bringing new lithium to market. Beyond the commercial benefits, we are incredibly excited by the level of support and enthusiasm shown by both the Canadian and South Korean governments for this collaboration.
This partnership represents a significant bridge between our two nations in the global critical minerals supply chain. By combining Saskatchewan's world-class resources with South Korea's leading processing technology, we are delivering exactly the kind of international cooperation required to power the energy transition."
Dr. Uong Chon, Chief Executive Officer, Hydro Lithium, says,
"Prairie Lithium is one of the most advanced lithium brine projects in North America and is the leading Canadian lithium brine project. Saskatchewan has very high-quality lithium brine resources, and we look forward to sourcing our lithium from Saskatchewan.
Our strategic collaboration will represent a significant investment of approximately $10M in the form of advanced lithium refining CULX equipment and expertise."
A Landmark Commercial Milestone
