EV Metals Group plc (“EVM” or “the Company”), a global battery chemicals and technology company, is pleased to provide an update on ongoing exploration activities at its Balthaga Exploration Project (“Balthaga” or “the Project”) in the Kingdom of Saudi Arabia, through its special purpose subsidiary, Riwaq Al-Mawarid for Mining (“RIWAQ”).
RIWAQ’s earn-in joint venture partner, Power Metal Resources plc, has successfully completed its first earn-in stage and now holds a 20% interest in the Project. This milestone follows 2 field mapping and sampling programs and extensive work to acquire and analyse new geological, geochemical, and geophysical data from the Saudi Geological Survey, including historical reports, airborne magnetic surveys, and multielement stream sediment results. These datasets, combined with previously collected soil samples, have been processed and validated as part of a comprehensive prospectivity reassessment.
The review has significantly improved understanding of the technical aspects of the property. Located midway between Riyadh and Jeddah, the Balthaga Project comprises 13 contiguous exploration licences covering approximately 1,290 km² in the highly prospective Arabian Shield. The property includes two documented primary lithium occurrences – the only such occurrences identified in Saudi Arabia to date – and hosts specialised granite intrusions enriched in critical minerals such as lithium, beryllium, niobium, tantalum, tin, tungsten, and rare earth elements. These features, together with observed alteration and elevated geochemical responses, confirm potential for granite-related rare metal mineralisation hosted in fractionated zones, greisens, veins, and pegmatite intrusions.
As a result of this work, 12 refined target areas have been delineated for further investigation. The next phase of exploration will involve systematic ground verification, rock sampling, soil sampling, trenching, and targeted drilling across these priority zones. A detailed technical report summarising these findings has been independently reviewed by SRK Consulting (UK), providing positive commentary on the property’s prospectivity.
Luke Fitzgerald, CEO of EV Metals Group plc, commented: “The outcomes of the comprehensive technical assessment of all available desktop data and field program results at the Balthaga Project represent a constructive step for RIWAQ and for EVM’s exploration activities in Saudi Arabia. The identification of several additional rare metal targets, together with confirmation of favourable geological indicators, supports the ongoing evaluation of the Project. This work contributes to building the foundation of EVM’s broader mine-to-refine strategy and is aligned with the Kingdom’s objective of advancing its critical minerals sector under Vision 2030.”
This update follows RIWAQ’s successful qualification for the Saudi Arabian Exploration Enablement Program previously announced by the Company, further underscoring the Kingdom’s commitment to fostering mineral resource development and industrial diversification.
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EV Metals Group plc
Luke Fitzgerald,
Chief Executive Officer
luke.fitzgerald@evmetalsgroup.com
Mohammed Bajba,
Managing Director, EV Metals Arabia
mohammed.bajba@evmetalsgroup.com
Garreth Young,
Marketing Manager
marcomms@evmetalsgroup.com
Figure 1: Typical terrain at Balthaga Project, Saudi Arabia
About EV Metals Group plc
EV Metals Group plc (EVM) is a global battery chemicals and technology business committed to a clean energy future.
EVM is focused on the production of high purity chemicals required in rechargeable batteries for electric vehicles and renewable energy storage. Our business model is based on the integration of upstream (mining) and midstream (chemical refining) supply chains for critical minerals from geopolitically aligned sources to produce high purity battery chemicals vital to the global energy transition.
Through our mine to refine value proposition, we will offer transparent and stable supplies of high purity battery chemicals to growth markets including the Middle East, Europe and North America. This will involve upstream mining and production of intermediate products via participation and ownership of mining mineral resources, facilitated by joint ventures and long-term offtake agreements for midstream processing at our planned chemical refining plant in the Kingdom of Saudi Arabia (KSA).
Our flagship Lithium Chemicals Plant (LCP) in Yanbu Industrial City, KSA, is being developed as a midstream hub for diversification and geopolitical alignment of supply chains for electric vehicle and battery cell manufacturers. During its first stage, the LCP will produce 25,000 tonnes per annum (TPA) of battery grade Lithium Hydroxide Monohydrate, followed by an additional 22,000 TPA of high purity Lithium Carbonate (Stage 1B). The LCP will contribute towards addressing expected global supply deficits while supporting Saudi Arabia’s Vision 2030 industrialisation goals.
Incorporated in 2014, EVM is a private company with operations in Western Australia and the Kingdom of Saudi Arabia.
For further information on EVM please visit www.evmetalsgroup.com.
About Riwaq Al Mawarid for Mining
Riwaq Al Mawarid for Mining (RIWAQ) is a special purpose subsidiary of EV Metals Group plc (EVM) focused on developing the Saudi supply chain through the production of critical raw materials from exploration, mining, and processing of minerals and metals in the Kingdom of Saudi Arabia.
RIWAQ is actively engaged in exploring for lithium, nickel sulphides, and other battery metals in the Arabian Shield, with a focus on the Balthaga Exploration Project located in an area prospective for lithium pegmatites. With a well-developed strategy and in conjunction with its joint venture partners, RIWAQ is seeking to execute field programs for the rapid development of critical upstream raw materials.
RIWAQ’s exploration activities complement EVM’s midstream strategy to develop its flagship Lithium Chemicals Plant in Yanbu Industrial City, which will produce high-purity lithium chemicals from spodumene concentrate. These specialty chemicals are essential for manufacturing rechargeable batteries used in electric vehicles (EVs) and renewable energy storage systems, and play a vital role in supporting the global energy transition.