Avalon Advanced Materials Engages Rachel Bridge as Interim Consultant to Facilitate Lake Superior Lithium Inc. Feasibility Study Engineering

Rhea-AI Summary

Avalon Advanced Materials (OTCQB: AVLNF) engaged Rachel Bridge of Laira Consulting Services as an interim consultant to coordinate the Lake Superior Lithium (LSLi) Feasibility Study with Nordmin Engineering and Metso.

Key points: the project moves from the 2024 PEA into feasibility engineering, targets ~30,000 tpa lithium hydroxide, and the 2024 PEA showed an after-tax NPV of C$4.1 billion (8% discount) and a 48% IRR over a 30-year mine life.

Positive

• 2024 PEA after-tax NPV C$4.1B (8% discount)
• 2024 PEA after-tax IRR 48% over 30 years
• Target 30,000 tpa battery-grade lithium hydroxide production
• Feasibility engineering underway with Nordmin, Primero, and Metso
• Site benefits from road, rail, port, power infrastructure in Thunder Bay

Negative

• None.

Toronto, Ontario--(Newsfile Corp. - February 17, 2026) - Avalon Advanced Materials Inc. (TSX: AVL) ( OTCQB: AVLNF) ("Avalon" or the "Company") is pleased to announce that Rachel Bridge, CEO of Laira Consulting Services, has been engaged to support the advancement of the Company's Lake Superior Lithium ("LSLi") Project on an interim basis until the Company employs a full-time Project Director. Ms. Bridge will be Avalon's representative in coordinating with Nordmin Engineering to advance Avalon's LSLi Feasibility Study that has commenced.

Rachel brings specialized experience driving the execution of technical and industrial projects across the critical minerals and resource development sectors and through Laira Consulting Services, she provides independent consulting support in project execution, coordination, and technical advisory services. This engagement is intended to support the progression of engineering activities at the LSLi Project as it advances from the 2024 Preliminary Economic Assessment into the Feasibility Study phase, with Ms. Bridge working alongside Nordmin and Metso as work gets underway.

Ms. Bridge has worked with organizations across the mining and industrial value chain, contributing to initiatives related to project planning, operational support, and stakeholder coordination. Her experience spans early-stage and advancing projects such as Avalon's where clear communication, technical understanding, and disciplined execution are critical to progress.

"Engaging Ms. Bridge to work with alongside Nordmin Engineering will accelerate development, mitigate risk, and secure project financing," said Avalon President and CEO Scott Monteith.

"The Lake Superior Lithium Project is entering a critical phase as it advances from the 2024 Preliminary Economic Assessment into detailed Feasibility Study engineering. As the project progresses, we are thrilled to come aboard and prioritize cost certainty, constructability, and risk reduction to position LSLi for construction readiness and long-term operational success within North America's lithium supply chain," said Rachel Bridge, CEO of Laira Consulting Services.

LSLi PEA Project Highlights:

• After-tax Net Present Value of Cdn $4.1 billion at an 8% discount rate and an after-tax Internal Rate of Return of 48% over a 30-year operating mine life, based on annual production of approximately 30,000 tonnes of battery-grade lithium hydroxide.

• LSLi is positioned to deliver a state-of-the-art lithium hydroxide conversion facility, supplying battery-grade material to the rapidly growing EV and energy-storage sectors.

• Located in Thunder Bay, Ontario, the project benefits from existing road, rail, deep-water port, power, and municipal infrastructure, supporting accelerated development timelines and reduced execution risk.

• The plant will use Metso's advanced, lower-carbon processing technology to produce 30,000 tpa of lithium hydroxide. A full Feasibility Study is underway with Nordmin Engineering and Primero North America, selected for their extensive experience with the Metso Process.

• Completion of a Preliminary Economic Assessment in September 2024 demonstrating strong project economics, supporting advancement into the Feasibility Study phase.

• Advancing with a strong focus on environmental responsibility, social accountability, and sound governance. Sustainability features include on-site renewable energy integration and responsible by-product utilization, supporting Canada's climate objectives and Ontario's clean-growth priorities.

About Laira Consulting Services

Laira Consulting Services provides Process Support and Study Management for the mining industry, with extensive experience in lithium and REE projects. The firm assists clients with testwork planning, technical support, and study execution, helping projects progress with clear, practical, and defensible technical foundations.

About Avalon Advanced Materials Inc.

Avalon Advanced Materials Inc. is a Canadian critical minerals company advancing the supply of materials essential for Canada's future. The Company is focused on developing strategic assets that support secure, domestic supply chains and long-term economic growth. Avalon is advancing the Nechalacho Rare Earth Elements and Zirconium Project in the Northwest Territories, which contains all light and heavy rare earth elements, as well as yttrium, zirconium, tantalum, and niobium-critical minerals used in advanced technologies across the communications, defense, clean tech, and energy sectors. The Company is also focused on vertically integrating the Ontario lithium supply chain through the development of Lake Superior Lithium Inc., Ontario's first midstream lithium hydroxide processing facility, located in Thunder Bay. This facility will serve as a vital link between northern Ontario's lithium resources and the growing EV battery manufacturing base in southern Ontario and North America. Through a joint venture with SCR Sibelco NV, Avalon is advancing the Separation Rapids Lithium Project near Kenora, Ontario, as well as continuing exploration at its Snowbank lithium and Lilypad lithium-cesium deposits.

For further information regarding Avalon Advanced Materials Inc., please visit www.avalonadvancedmaterials.com, email ir@avalonam.com, or call 416-364-4938.

Cautionary Statement Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "add" or "additional", "advancing", "anticipates" or "does not anticipate", "appears", "believes", "can be", "conceptual", "confidence", "continue", "convert" or "conversion", "deliver", "demonstrating", "estimates", "encouraging", "expand" or "expanding" or "expansion", "expect" or "expectations", "forecasts", "forward", "goal", "improves", "increase", "intends", "justification", "plans", "potential" or "potentially", "promise", "prospective", "prioritize", "reflects", "robust", "scheduled", "suggesting", "support", "top-tier", "updating", "upside", "will be" or "will consider", "work towards", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved".

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including those risk factors discussed or referred to in the annual information form of the Company dated November 28, 2024 (the "AIF") under the heading "Description of the Business - Risk Factors". Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Although the Company believes that the assumptions and expectations reflected in such forward-looking information are reasonable, undue reliance should not be placed on forward-looking information because the Company can give no assurance that such expectations will prove to be correct. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/283999

FAQ

What role will Rachel Bridge play for Avalon (OTCQB: AVLNF) on the Lake Superior Lithium Feasibility Study?

She will serve as Avalon's interim consultant coordinating engineering and project execution. According to the company, she will work with Nordmin and Metso to progress the feasibility engineering and support project delivery until a full-time Project Director is hired.

What production capacity does Avalon (AVLNF) target for the Lake Superior Lithium project?

The project targets approximately 30,000 tonnes per annum of lithium hydroxide. According to the company, Metso's processing technology is planned to produce that battery-grade output for EV and energy-storage markets.

What were the 2024 PEA economics for Avalon (AVLNF) Lake Superior Lithium project?

The 2024 PEA reported an after-tax NPV of C$4.1 billion at an 8% discount and a 48% IRR. According to the company, these metrics assume a 30-year mine life and the stated annual production profile.

Who is executing the Lake Superior Lithium Feasibility Study for Avalon (AVLNF)?

Nordmin Engineering and Primero North America are leading feasibility engineering with Metso supplying process technology. According to the company, these firms were selected for experience with the Metso process and feasibility work.

How does the Lake Superior Lithium location benefit Avalon (AVLNF)'s project timeline?

The Thunder Bay site benefits from existing road, rail, deep-water port, power, and municipal infrastructure. According to the company, these assets support accelerated development timelines and reduced execution risk.