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NI 43-101 Resources

Large Scale, High Grade, Lithium Deposits with Excellent Ongoing Growth Potential in Brazil’s “Lithium Valley”

Total Global Mineral Resources

(Banderia + Outro Lado + Salinas)
Measured & Indicated:
32.51Mt grading 1.31% Li2O (~582kt LCE)
Inferred:
27.57Mt grading 1.24% Li2O (~538kt LCE)

Lithium Ionic began selectively drilling its properties in April 2022, reporting an initial mineral resource estimate (“MRE”) for the Bandeira and Outro Lado deposits in June 2023.

In October 2023, an updated NI 43-101 compliant MRE for Bandeira showcased a near-doubling of the resources, which formed the basis of a Preliminary Economic Assessment that supported a long-life and low-cost spodumene concentrate mining project with a post-tax NPV of US$1.6 billion and an IRR of 121% (see PEA results here).

In April 2024, the Company reported an updated MRE, which considered data from 233 holes (50,760 metres) drilled between April 2022 and March 2024.

Breakdown of Mineral Resources by Deposit

BANDEIRA:

 
Measured & Indicated:
23.68Mt grading 1.34% Li2O (783,000t LCE)
Inferred:
18.25Mt grading 1.37% Li2O (618,400t LCE)
*See details and notes related to this MRE in the press release HERE.

OUTRO LADO:

 
Measured & Indicated:
2.97Mt at 1.46% Li2O (107,599t LCE)
Inferred:
0.42Mt at 1.48% Li2O (15,168t LCE)
*See details and notes related to this MRE in the press release HERE or technical report HERE.

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