Typical prairie shrub terrain of Spencer Valley project area

The Company has four Brine Projects

Two traditional brines in Nevada and two oil-brine projects in Texas and Pennsylvania

The Eureka Project is located in Lander County, Nevada and the Wilson Flats Project located in Nye County, Nevada. The Texas oil-(petro) brine project is situated in the eastern part of the state in Cass County, near the Arkansas border and within the Smackover Formation. The Pennsylvania oil brine project is located 55 kilometers north of Pittsburgh in northwestern Pennsylvania, mineral leases spread across two counties.

Traditional lithium brine deposits are accumulations of saline groundwater that are enriched in dissolved lithium. These sources of lithium are considered less expensive than mining from hard rocks or clays.

Brines are typically pumped to the surface to be evaporated in a succession of ponds, each transfer to a new pond achieves a higher purity until further processed in a chemical plant with the final product from these chemical plants being lithium carbonate. The evaporation process can take up to 2 years, even in extremely arid environments like Nevada and Northern Chile. Newer, Direct Lithium Extraction (DLE) technology is in the early stages of research and testing, but will reduce the evaporation time from years to days, also reducing the surface area footprint of evaporation ponds.