Overview

Burro Creek West (“BCW”) is located in central western Arizona, USA, up to 5km West of BCE. The project consists of 65 placer mining claims and 72 lode claims, managed by the Bureau of Land Management (“BLM”), covering a total area of 6.02km2.

Project Highlights

During April 2018, 68 samples were collected from outcrops of clay, altered tuffs and sediments covering a wide area. These samples contained lithium grades ranging between 36-1,310 ppm Li, with average grades of 603 pm Li.

During October and November 2018, an additional 11 samples were collected from the northern and north-western parts of the project area. The samples had average grades of 386 ppm Li, with a high grade of 800 ppm Li.

Average potassium grades noted in the samples collected are 2.4%, which is slightly lower than those identified in the Burro Creek East MRE.

Next Steps

A two-phase approach will be followed:

Phase 1

Permits have been applied for a Plan of Operation with the BLM. Once approved, the Plan will be valid for the life of the project. Phase 1 will consist of drilling 10 diamond-drill holes, to initially test broad areas in which mapping and surface sampling found lithium-bearing clay at surface. Metallurgical testing will be completed on splits of the cores.

Phase 2

Based on the drill results, a metallurgical study will be completed, which will lead to the development of a maiden Inferred Mineral Resource Estimate. Additional drilling and metallurgical studies will be performed to improve the confidence of the inferred MRE.