Advancing a World Class Lithium Deposit in America

Footnotes

Preliminary Economic Assessment NI 43-101 Technical Report, Bonnie Claire Lithium Project, Nye County, Nevada” (Effective Date: August 20, 2021 Revised and Amended February 25, 2022). The Qualified Person for the mineral resource estimate is Terre Lane of Global Resource Engineering Ltd., of Denver, CO, USA. The estimate is based on an assumed lithium price of 13,400 $/tonne Li₂C0₃, a cut-off grade of 700 ppm Li, and Li₂C0₃ to lithium ratio of 5.323. The borehole constraint assumes a 68%mining recovery and 5%dilution. Numbers have been rounded to reflect the accuracy of the estimate and may not sum due to rounding. Mineral resources are not mineral reserves as they do not have demonstrated economic viability. It is reasonably expected that the majority of the Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration. There is no certainty that all or any part of the Mineral Resources will be converted into Mineral Reserves. The technical report is filed, as required by NI 43-101, on the Company’s SEDAR+ profile at www.sedarplus.ca.

The Preliminary Economic Assessment is preliminary in nature, and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized.