Armory Mining Provides Update on the Candela II Lithium Brine Project, Incahuasi Salar, Argentina

Core Insights - Armory Mining Corp. is advancing its Candela II lithium brine project in Argentina, focusing on minerals critical to energy, security, and defense sectors [1][6] - The company plans to conduct a scoping study to assess the technical viability and economic potential of the Candela II project, which has an inferred resource of 457,000 tonnes of lithium carbonate in-situ [2][3] Project Development - The scoping study aims to provide preliminary estimates of production potential, resource expansion, capital and operating costs, and will also evaluate environmental impacts and regulatory requirements [3] - The current market price for lithium carbonate is $13,401 per ton for 99.5% battery grade as of November 17, 2025 [2] Location and Competition - The Candela II project is situated in the 'Lithium Triangle' of South America, near major players like Ganfeng Lithium, Rio Tinto, and Power Minerals [4] - Ganfeng Lithium, the largest producer of battery-grade lithium in China, holds an adjacent concession and a production well approximately 9.8 km from Candela II [4]