RZOLV Reports Preliminary Bench-Scale Silver Recovery Results on Solar Panel Concentrate, Highlighting Opportunity for High-Value PV Recycling

Vancouver, British Columbia–(Newsfile Corp. – March 18, 2026) – RZOLV Technologies Inc. (TSXV: RZL) (OTCQB: RZOLF) (“RZOLV” or the “Company”) reports preliminary bench-scale hydrometallurgical test results on a fine solar panel-derived concentrate, demonstrating strong silver recovery and rapid dissolution kinetics under mechanically agitated leach conditions at ambient temperature.

Two laboratory leach tests achieved approximately 89.8% final calculated silver recovery on material grading approximately 977 g/t silver. Solid head and residue samples were assayed by ALS Laboratories (including fire assay for silver), and leach solutions were also analyzed by ALS. Reported recoveries are calculated from these analytical results. These results provide a strong technical foundation for advancing to the next stage of structured test work focused on defining operating parameters for downstream recovery and solution recycle.

A key outcome of the testing was the improvement in time-to-recovery under the higher reagent dosage condition. At 15 minutes, 45 minutes, and 1 hour, the higher dosage test achieved approximately 55.5%, 79.4%, and 82.2% silver extraction, respectively, compared with 20.4%, 45.0%, and 55.6% under the standard dosage condition. In practical terms, the higher dosage condition reached in about one hour what the standard dosage condition required roughly four hours to approach. Testing was performed at ambient laboratory temperature (~22°C) under mechanically agitated conditions.

“These early results are encouraging because they show high silver recovery alongside materially improved kinetics under practical agitated conditions,” said Duane Nelson, President & CEO of RZOLV Technologies Inc. “Photovoltaic (PV) recycling economics increasingly depend on recovering the highest-value fractions efficiently. While these are preliminary bench-scale results, the data support proceeding with structured follow-on work to define the operating window, quantify consumption behaviour, and evaluate downstream recovery and solution recycle performance.”

Photovoltaic (PV) Solar Panel Recycling: industry challenge and opportunity

As global photovoltaic (“PV”) solar panel deployment continues to scale, PV recycling is moving from a niche end-of-life service into a strategic materials-recovery market. According to the International Energy Agency Photovoltaic Power Systems Programme (IEA PVPS), global cumulative PV capacity grew to over 2.2 terawatts (TW) at the end of 2024, with over 600 gigawatts (GW) of new PV systems commissioned in 2024 alone. According to the International Renewable Energy Agency (IRENA) and IEA PVPS, cumulative end-of-life PV panel waste could reach approximately 60-78 million tonnes by 2050, and the technical potential value of recovered materials could exceed US$15 billion by 2050 if recovered and reinjected into the economy. IEA PVPS Task 12 notes that PV module recycling today can still face a “high-cost, low-revenue” scenario in many markets due to low volumes, logistics challenges, limited recycling technologies, and underdeveloped markets for recovered materials-reinforcing the opportunity for high-value, low-cost recovery pathways as volumes grow. The U.S. National Renewable Energy Laboratory (NREL) has similarly highlighted that PV module recycling can recover high-value materials including silver and support new market opportunities as circular supply chains develop.

Summary of test results

Testing was conducted on a fine concentrate produced from crushed photovoltaic material under ambient temperature and mechanically agitated leach conditions.

Table 1. Silver extraction versus time

Test Description	15 min	45 min	1 h	4 h	Final Recovery (%)	Final Residue (ppm)
Standard dosage	20.4%	45.0%	55.6%	81.3%	89.8%	111.0
2× dosage	55.5%	79.4%	82.2%	82.8%	89.8%	110.0

 

About RZOLV Technologies Inc.

RZOLV Technologies Inc. is a clean-technology company advancing a new generation of hydrometallurgical chemistry designed to transform how precious and critical metals are recovered from ores, concentrates, and renewables. The Company is developing proprietary, non-cyanide solutions intended to unlock value from complex materials where conventional methods can be limited.

Its flagship technology, RZOLV™, is a proprietary, water-based dissolution system designed to achieve strong recovery performance without the toxicity, permitting burden, and legacy liabilities associated with conventional cyanide-based processes. By operating in a broader and more controllable chemical window, RZOLV™ has the potential to recover precious and critical metals from challenging feedstocks and support a safer, more sustainable path forward for the mining and resource recovery industries.

For more information, please visit www.rzolv.com.

Exchange Disclaimer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking information within the meaning of applicable Canadian securities laws, including statements regarding the potential applicability of the Company’s technology to solar panel recycling concentrates and other recycled feeds; the potential to reduce residence time and processing footprint; and the Company’s plans for further test work, pilot evaluation, scale-up and commercialization. Forward-looking information is based on assumptions and is subject to risks and uncertainties that may cause actual results to differ materially, including that additional testing may not replicate the results disclosed herein, scale-up results may differ from laboratory results, and regulatory, technical, commercial or financing factors may delay or prevent further advancement. Readers are cautioned not to place undue reliance on forward-looking information. Except as required by applicable securities laws, the Company undertakes no obligation to update or revise such information.

Laboratory-Scale Results

The metallurgical and recovery results disclosed in this news release are derived from laboratory-scale testing. Laboratory-scale results may not be indicative of pilot-scale, commercial or economic outcomes.