Increased throughput, contracted offtakes, and rising lithium prices enhance multi-commodity growth strategy

LAGOS, NIGERIA / ACCESS Newswire / February 20, 2026 / Continental Lithium Limited ("Continental," or the "Company"), a wholly owned subsidiary of Continental Critical Minerals, Inc., a leading mining and trading company out of Nigeria focused on the exploration, mining, trading, and exporting of solid mineral ores, including lithium, tin, columbite-tantalite, zircon sand (brown), and monazite to the U.S., Europe, and Asia, today announced the initiation of commissioning activities at its expanded alluvial mining operation, significant progress on its strategic lithium joint venture with Chariot Resources Ltd (ASX:CC9), and provided commentary on the recent sharp recovery in global lithium prices.

Expanded Processing Facility Commissioning Underway; Commercial Production Imminent

Continental has completed the installation of new processing equipment and related infrastructure at its alluvial mine site, marking a major operational inflection point for the Company. The upgraded plant is designed to achieve throughput of approximately 100 metric tons per hour, representing a substantial increase over prior processing capacity.

Commissioning is currently underway and is expected to be completed by the end of February 2026. Commercial operations will begin immediately thereafter.

The expanded facility will produce zircon, columbite, tin, and rare earth-bearing concentrates, including monazite. Production from the ramp-up will be delivered to established Chinese customers under extended zircon and columbite contracts, reinforcing the Company's revenue base and export track record.

This expansion builds upon Continental's existing processing platform and its established export infrastructure. Management expects the enhanced throughput to support meaningful revenue acceleration and margin expansion consistent with its previously stated ~45-50% EBITDA margin targets.

"The completion of our plant expansion and the transition into higher-throughput commercial production represents a critical step in scaling Continental into a mid-tier, multi-commodity producer," said Pierce Carson, CEO of Continental Critical Minerals. "With infrastructure in place, contracted offtakes, and improving commodity prices, we are positioned to potentially increase revenue by 50%-100% in 2026 over historical annual revenue of $4-5 million in the last three years."

Progress Continues on Strategic Lithium Joint Venture with Chariot Resources

Continental continues to advance its transformational lithium partnership with Chariot Resources, positioning the Company at the forefront of Nigeria's emerging hard-rock lithium sector. The joint venture encompasses approximately 254 square kilometers of highly prospective lithium terrain in Kwara and Oyo States, where surface sampling has returned grades of up to 6.59% Li₂O.

Pursuant to the Binding Share Sale Agreement dated July 5, 2025, the parties have formed C&C Minerals Ltd, a new Nigerian joint venture vehicle that will hold eight exploration licenses and two small-scale mining licenses, with Chariot owning 66.7% and Continental retaining a 33.3% interest. The transfer of the licenses into C&C Minerals Ltd is progressing and is expected to be completed in March 2026, with settlement scheduled no later than May 5, 2026. At settlement, Chariot is obligated to issue 24 million shares to Continental and pay US$850,000 in cash, providing Continental with substantial equity exposure to Chariot while maintaining direct participation in one of Nigeria's largest consolidated lithium land packages.

Further strengthening the commercial outlook, Chariot has recently announced cooperative agreements with two Chinese companies for the sale of lithium concentrates, establishing potential downstream channels as lithium prices continue to recover and global demand accelerates.

Lithium Market Rebound Strengthens Project Economics

Global lithium markets have entered 2026 with significant upward momentum, reflecting a sharp recovery across the battery metals complex. Lithium carbonate prices have rebounded more than 100% from their 2025 lows, exceeding US$16,000 per metric ton in January 2026. Spodumene concentrate prices have also increased materially, rising from approximately US$800 per metric ton to approximately US$2,000 per metric ton in recent months. The speed and magnitude of this recovery point to tightening supply conditions and renewed strength across downstream battery and electric vehicle markets.

"The recovery in lithium prices underscores the structural supply-demand imbalance that continues to define the battery metals market," said Lanre Afebuameh, President and Vice Chairman of Continental Critical Minerals. "With a free-carried interest in a large-scale lithium portfolio and rising spot prices, Continental has secured leveraged exposure to one of the most strategic commodities in the global energy transition."

Industry forecasts project global lithium consumption growth of 13% to 17% in 2026, driven by accelerating electric vehicle adoption, expansion of heavy electric truck fleets, and continued buildout of grid-scale battery storage systems. As electrification trends advance and governments prioritize supply chain security for critical minerals, lithium demand is expected to remain structurally robust.

This improving price environment, combined with constrained new supply and strengthening end-market demand, materially enhances the long-term economic outlook for the Chariot joint venture portfolio and reinforces Continental's broader lithium growth strategy.

About Continental Critical Minerals

Founded in 2017, Continental commenced small-scale mining in collaboration with artisanal miners in 2018. Over the last six years, the underlying assets acquired by Continental have produced concentrates of lithium (spodumene), columbite, zircon sand, and monazite containing rare earth elements. The Company has plans to develop its lithium and critical mineral assets and substantially increase its production for export to the U.S., Europe, and Asia. Continental controls 34 mineral licenses covering 787 square kilometers (194,570 acres) acquired from the Nigerian Mining Cadastre Office. Learn more at https://continentalcriticalminerals.com/ .

Special Note Regarding Forward-Looking Statements

This press release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that could cause the Company's actual results, performance, or achievements or industry results to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking statements. These statements are subject to risks and uncertainties, many of which are beyond the Company's control. The words "believe", "may", "will", "should", "would", "could", "continue", "seeks", "anticipates", "plans", "expects", "intends", "estimates", or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that the projected results or events will be achieved.

Investor Contact:

RedChip Companies Inc.
Dave Gentry
1-800-RED-CHIP (733-2447)
or 1-407-644-4256
Dave@redchip.com

SOURCE: RedChip Companies, Inc.