ARDIDEN LTD — Capital/Financing Update 2018

Jan 29, 2018

ASX ANNOUNCEMENT

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30 January 2018

THICK HIGH-GRADE LITHIUM INTERCEPTS CONTINUE TO INCREASE POTENTIAL TO EXPAND MAIDEN RESOURCE AT SEYMOUR LAKE

Assays of up to 4.03% Li2O highlight down-plunge extensions to the north and to the east of the North Aubry Lithium Deposit

HIGHLIGHTS:

• Strong assay results received from the last 7 diamond drill holes completed in the 2017 resource expansion drilling program, adding expansion potential to the Phase 1 Mineral Resource Estimate for the North Aubry Lithium Deposit at its 100%-owned Seymour Lake Lithium Project in Ontario, Canada.

• Results have again confirmed consistency and continuity of mineralisation extending to the north and the east of the current Mineral Resource boundary, with significant thick mineralised intercepts including:

• 27.62m at 0.99% Li2O from 135.22m down hole (SL-17-71) including:

  • 10.00m at 1.52% Li2O;

  • 5.00m at 1.72% Li2O; and

  • 2.0m at 2.14% Li2O;

• 21.50m at 1.02% Li2O from 47.80m down-hole (SL-17-77) including:

  • 6.00m at 2.59% Li2O ;

  • 3.00m at 3.52% Li2O ; and

  • 2.94m at 1.31% Li2O

• 16.45 at 0.95% Li2O from 70.30m down-hole (SL-17-75) including :

  • 8.00m at 1.04% Li2O;

  • 3.00m at 1.60% Li2O;

  • 3.00m at 1.47% Li2O; and

  • 1.00m at 2.27% Li2O.

• Drilling results confirm the presence of multiple pegmatite zones extending north-eastwards with downplunge continuity at the North Aubry Lithium Deposit – with the mineralisation remaining open to the north, east, west and down-dip.

• These latest drilling results continue to provide Ardiden with a greater level of confidence in the continuity of the mineralisation, while also steadily increasing the overall scale of the project.

• Latest results support the Company’s objective of exercising the Yantai Term Sheet and progressing its fast-track development strategy at Seymour Lake.

• Full geological and technical review of the latest drilling results is almost complete and planning for the commencement of the 2018 expansion drill program is well underway, with the drill program due to be finalised and commencing shortly.

Ardiden Limited Tel: +61 (0) 8 6555 2950 ASX Code: ADV Fax: +61 (0) 8 9382 1222 Shares on Issue: 1,046.0M www.ardiden.com.au

Suite 6, 295 Rokeby Road Subiaco WA 6008

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Ardiden Limited (ASX: ADV) is pleased to advise that recent diamond drilling has confirmed further high-grade extensions of the spodumene mineralisation down-plunge to the north of the recently announced Phase 1 Mineral Resource at the North Aubry Lithium Deposit, part of its 100%-owned Seymour Lake Lithium Project in Ontario, Canada.

The latest assay results include an impressive high-grade intercept grading 4.03% lithium oxide (Li2O) (SL-17-70), as well as numerous strong assays which continue to support the potential future expansion of the North Aubry Lithium Deposit, confirming the presence of multiple pegmatite zones extending to the north-east and east.

SUMMARY

Ardiden confirms that the last 7 drill holes from the 2017 resource expansion drill program includes the latest assay results from diamond drill holes SL-17-70 – SL-17-72 and SL-17-74 – SL-17-77 (refer Tables 1 and 2). These latest drilling results were not including in the JORC Resource estimate announced on 4 October 2017 and have continued to demonstrate extensions and solid continuity of the thick high-grade lithium mineralisation expanding northeast and east from the North Aubry Lithium deposit.

Ardiden notes mineralisation remains open in all directions from the North Aubry Lithium deposit and further drilling which is due to commence shortly will allow the company to determine the grade and continuity of mineralisation in the identified pegmatite units.

Further, exploration drilling will commence shortly focusing on the North, Central and South Aubry prospects with the aim of drill testing how each of these pegmatite structures relate to each other which will then lead to better understanding of the overall pegmatite swarm at this location and further expansion potential.

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Figure 1. T Topographical image of the showing locations of the North, Central and South Aubry prospects which host the exposed and subsurface pegmatites.

Shown in Figure 1, from a logistical perspective the North, Central and South Aubry prospects are well located on the western crest and side of the hills, providing good access from the nearby Ferland Road and potential access to the local infrastructure network at the Ferland Train Station only a short distance to the south.

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SPODUMENE-BEARING PEGMATITE
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Figure 2. Drill core obtained from drill hole SL-17-75 (from 76.4.8m to 89.0m) showing the intersection of high-quality spodumene-bearing pegmatite (the lighter coloured material in the photo is the Pegmatite, whilst the darker material is Mafic Volcanic) .

The pegmatites at North Aubry host mineralisation which has been identified as having a downhole width in excess of 27m and 21m respectively, in drill holes SL-17-71 and SL-17-77. Both drill holes were drilled at a 60-degree dip, which is an approximate angle to show the normal mineralised unit.

Ardiden considers these latest assay results from diamond drill holes SL-17-70 – SL-17-72 and SL-17-74 – SL-17-77, once again to be very encouraging and another step closer for the potential development of the Seymour Lake Lithium project with strategic partner Yantai Jinyuan Mining Machinery Co.,Ltd.

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OPEN
OPEN
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Figure 3. Plan showing the reported drill hole locations for holes SL-17-70 to SL-17-77 (black) and the historical collars (blue) at the North Aubry prospect

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ASSAY RESULTS

The Company has now received assay results from diamond drill holes SL-17-70 – SL-17-72 and SL-17-74 – SL-17-77 (refer Tables 1 and 2), these drilling results were not included in the Maiden JORC Resource Estimate.

Lithium grades up to 4.03 Li2O (SL-17-70) and 3.83% Li2O (SL-17-77) are reported in the latest batch of assay results, demonstrating a consistency of the high-grade lithium mineralisation at North Aubry.

Assay results for the 7 diamond drill holes are reported in this announcement, including SL-17-70 – SL-17-72 and SL-17-74 – SL-17-77, and any assays below a cut-off grade of 0.5% Li2O and have not been specifically reported in this announcement.

Ardiden notes, 47% of this batch of assays drill holes (58 of the 123 drill core samples) returned results greater than the 0.5% Li2O cut-off with an average grade of 1.59% Li2O , while 32% (39 of 123 drill core samples) returned results greater than 1.0% Li2O with an average grade 1.99% Li2O. 22% (27 of 123 drill core samples) returned results greater than 1.5% Li2O with an average grade of 2.33% Li2O . (refer to Table 1).

Table 1 below presents the significant intersections which contain lithium mineralisation in drill holes SL-17-70 – SL-17-72 and SL-17-74 – SL-17-77, that reported above the cut-off grade of 0.5% Li2O and the weighted average grade for each significant intersection, where the Li20% grades have been calculated using the Li2O assays as a function of the represented sample length (length X grade/length).

A summary of the more significant assays for holes SL-17-70 – SL-17-72 and SL-17-74 – SL-17-77, is provided below (refer to Tables 1 and 2 for a full list):

• 27.62m at 0.99% Li2O from 135.22m down hole (SL-17-71) including: o 10.00m at 1.52% Li2O;

• 5.00m at 1.72% Li2O; and

• 2.0m at 2.14% Li2O;

• 21.50m at 1.02% Li2O from 47.80m down-hole (SL-17-77) including:

• 6.00m at 2.59% Li2O ;

• 3.00m at 3.52% Li2O ; and

• 2.94m at 1.31% Li2O

• 16.45 at 0.95% Li2O from 70.30m down-hole (SL-17-75) including :

• 8.00m at 1.04% Li2O;

• 3.00m at 1.60% Li2O;

• 3.00m at 1.47% Li2O; and

• 1.00m at 2.27% Li2O.

• 11.85m at 1.44% Li2O from 55.70m down-hole (SL-17-76) including:

• 10.60m at 1.69% Li2O; and

• 2.30m at 3.24% Li2O.

MULTIPLE THICK ZONES OF HIGH-GRADE LITHIUM MINERALISATION

The continuity of mineralisation at North Aubry is suitably highlighted by drill-hole SL-17-71, which intersected 27.62 continuous metres of spodumene mineralisation from 135m down-hole with an average lithium grade of 0.99% Li2O . Furthermore, drill-hole SL-17-77 intersected 21.50 continuous metres of spodumene mineralisation from 48m down-hole with an average grade of 1.02% Li2O (refer to Table 2 below).

Also of note was drill hole SL-17-75, which intersected 16.45 continuous metres of spodumene mineralisation from 70m down-hole with an average of 0.95% Li2O . Drill hole SL-17-76 intersected 11.85 continuous metres of spodumene mineralisation from 56m down-hole with an average grade of 1.44% Li2O (refer to Table 2 below).

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These latest assay results have again confirmed the presence of multiple thick, sub-parallel mineralised zones extending down-plunge to the north-east and east supporting the potential expansion of the North Aubry Lithium deposit (see Figures 3 and 4).

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Figure 4. Oblique section looking north-east showing the locations of drill holes SL-17-73 to SL-17-77 (White) and interpreted down dip extensions from the North Aubry Lithium deposit.

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Figure 5. Oblique section looking north-east showing the locations of drill holes SL-17-70 to SL-17-77 (White) and interpreted down dip extensions from the North Aubry Lithium deposit.

The assay results continue to validate the geological modelling of multiple stacked and parallel pegmatite sills and the northern extension of the known primary mineralised sills.

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To date, the current drilling program has focused on the North Aubry prospect due to the ease of access and highquality lithium mineralisation at the prospect, and future drilling programs will continue to target the immediate project area to include Central and South Aubry prospects.

Ardiden notes that mineralisation remains open in all directions at North Aubry. Further drilling is required to obtain a better understanding of the size and extent and potential connection of the underlying pegmatite structures.

2018 EXPANSION DRILL PROGRAM

Ardiden confirms that a full geological and technical review of the Seymour Lake Lithium project is almost complete. The review which has incorporated the latest drilling results has provided Ardiden with a greater understanding of the complex pegmatite structures contained within the project and identified a number of new priority drilling targets around the Aubry prospects.

Planning for the 2018 expansion drill program is well underway and Ardiden expects to finalise the drill targets and commence the new drill program due shortly.

EXPLORATION UPSIDE

Only about 5% of the regional 5km strike length of modelled pegmatites have been drill-tested, and the true potential of the project is yet to be fully evaluated. Approximately 40 new pegmatite exposures have been identified, with several of these exposures hosting visible spodumene.

Figure 6 below, demonstrates the significant potential of the Seymour Lake Project with the red crosses on the images identifying numerous pegmatite exposures that have not yet been fully explored or tested. The area highlighted green contains the North Aubry Lithium Deposit and the Central and South Aubry prospects which have a high potential for substantial lithium mineralisation. The remainder of the 5km strike zone highlighted in blue remains open and untested.

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Figure 6. Overview map of the Seymour Lake project claims, identifying the multiple pegmatite exposures along the 5km strike zone.

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Ardiden notes that although the pegmatites at Seymour Lake can be somewhat difficult to model and predict due to the variable fluid pathways during formation, confirmation of the interpreted extensions of the spodumenebearing pegmatites and the verification of multiple pegmatite sills in the latest assay results provides the Company with a greater level of understanding and confidence in the project, while also steadily expanding the overall scale of the project and its future resource expansion potential.

CONCLUSION AND OUTLOOK

The latest drilling results, which include multiple high-grade intercepts of up to 4% Li2O at various depths, have further increased the Company’s confidence in the scale and continuity of the lithium mineralisation at the North Aubry Lithium Deposit.

The Company believes that the Seymour Lake Project has the potential to host multiple high-quality lithium deposits, with the completion of a Phase 1 JORC 2012 Mineral Resource Estimate at North Aubry establishing a solid foundation from which the Company can aggressively target extensions of the known mineralised zones, the potential to identify further pegmatite structures and with, the assistance of our strategic partners Yantai, advance the project towards development.

Ardiden expects to commence the 2018 expansion drill program shortly and to provide further updates in the near future on current activities, including results from the ongoing metallurgical test work program in China, further drilling updates from North and South Aubry prospects and feasibility work including the Baseline Environmental Study activities being conducted at the Seymour Lake Project.

Table 1. Results for drill holes SL-17-70 – SL-17-72 and SL-17-74 – SL-17-77 at Seymour Lake Lithium Project, using a cut-off grade of 0.5% Li2O.

Hole ID	East	North	End of Hole (m)	Azimuth	Dip	From (m)	To (m)	Interval (m)	Li2O% (0.5% cut off)
SL-17-70	397176	5585294	156	200	-60	141.00	147.00	6.00	1.90
					Including	143.00	145.00	2.00	3.25
					Including	143.00	144.00	1.00	4.03
							TOTAL	6.00
SL-17-71	397142	5585309	165	200	-60	138.00	143.00	5.00	1.72
					Including	142.00	143.00	1.00	2.53
SL-17-71	397142	5585309	165	200	-60	144.00	154.00	10.00	1.52
					Including	151.00	153.00	2.00	2.14
							TOTAL	15.00
SL-17-72	397102	5585109	120	270	-60	68.54	71.00	2.46	1.42
					Including	68.54	70.00	1.46	1.79
SL-17-72	397102	5585109	120	270	-60	72.00	73.00	1.00	0.77
SL-17-72	397102	5585109	120	270	-60	74.00	75.20	1.20	1.04
							TOTAL	4.66

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SL-17-74	397080	5585116	102	270	-60	59.40	61.00	1.60	1.04
SL-17-74	397080	5585116	102	270	-60	63.00	65.00	2.00	1.21
					Including	64.00	65.00	1.00	1.87
							TOTAL	3.60
SL-17-75	397123	5585101	108	270	-60	71.30	74.30	3.00	1.47
					Including	72.30	73.30	1.00	2.27
SL-17-75	397123	5585101	108	270	-60	75.30	83.30	8.00	1.04
					Including	76.30	79.30	3.00	1.60
SL-17-75	397123	5585101	108	270	-60	84.30	85.30	1.00	1.43
							TOTAL	12.00
SL-17-76	397131	5585122	81	270	-60	55.70	66.30	10.60	1.69
					Including	64.00	66.30	2.30	3.24
							TOTAL	10.60
SL-17-77	397088	5585138	75	200	-60	48.80	54.80	6.00	2.59
					Including	50.80	53.80	3.00	3.52
SL-17-77	397088	5585138	75	200	-60	63.46	66.40	2.94	1.31
							TOTAL	8.94

Table 2. Drill collar information and lithium mineralisation zones for drill SL-17-70 – SL-17-72 and SL-17-74 – SL-17-77 at Seymour Lake Lithium Project with no cut-off lithium grade.

Hole ID	East	North	End of Hole (m)	Azimuth	Dip	From (m)	To (m)	Interval (m)	Li2O%
SL-17-70	397176	5585294	156	200	-60	137.75	149.55	11.80	1.18
SL-17-71	397142	5585309	165	200	-60	135.22	162.89	27.62	0.99
SL-17-72	397102	5585109	120	270	-60	66.54	77.20	10.66	0.57
SL-17-74	397080	5585116	102	270	-60	58.40	68.30	9.90	0.50
SL-17-75	397123	5585101	108	270	-60	70.30	86.75	16.45	0.95
SL-17-76	397131	5585122	81	270	-60	55.70	67.55	11.85	1.44
SL-17-77	397088	5585138	75	200	-60	47.80	69.30	21.50	1.02

ENDS

For further information:

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Investors : Media : Brad Boyle Citadel-Magnus Ardiden Ltd +61 8 6160 4900 Tel: +61 (0) 8 6555 2950

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About Ardiden Ltd

Ardiden Limited (ASX: ADV) is an emerging international diversified exploration and development company possessing a mature multi-element asset portfolio, with a near term development pipeline, focused quality projects located in the established mining jurisdiction of Ontario, Canada.

The 100%-owned Seymour Lake Lithium Project comprises 7,019 Ha of mining claims and has over 4,000m of historic drilling. Mineralisation is hosted in extensive outcropping spodumene-bearing pegmatite structures with widths up to 26.13m and grades of up to 6.0% Li2O. These high-grade pegmatite structures have been defined over a 5km strike length.

The 100%-owned Wisa Lake Lithium project is located 80km east of Fort Frances, in Ontario, Canada and only 8km north of the Minnesota/US border. The property is connected to Highway 11 (Trans-Canada), which is located 65km north via an all-weather road that crosses the centre of the project. The Wisa Lake Lithium Project consists of five claims (1,200 hectares) and covers the historical drilling location of the North Zone. Ardiden is aiming to commence a limited drill program to drill test and verify the historical lithium results.

The Pickle Lake Gold Properties (under option to acquire 100%) are located within the prolific gold-producing Meen-Dempster Greenstone Belt of the Uchi Geological Sub-province of the Canadian Shield, in close proximity to several of the Company’s existing projects and to the regional mining centre of Thunder Bay. The Properties consists of four separate gold properties offering both advanced development opportunities and early stage exploration. Over 25,000m of historical diamond drilling completed across the Pickle Lake Gold Properties, confirming the potential for multiple extensive gold mineralised zones at both Dorothy-Dobie Lake and Kasagiminnis Lake, with gold mineralisation remaining open along strike and at depth.

The 100%-owned Root Lake Lithium Project is located in Ontario, Canada. The project comprises 1,013 Ha of mining claims and has over 10,000m of historic drilling. Mineralisation is hosted in extensive outcropping spodumene-bearing pegmatite structures with widths up to 19m and grades of up to 5.10% Li2O. In addition, tantalum grades of up to 380 ppm were intersected.

The 100%-owned Root Bay lithium project is strategically located approximately 5km to the east of the recently acquired Root Lake Lithium Project and consists of three claim areas, totalling 720 hectares. The project was staked by Ardiden as part of its regional exploration focus in and around the Root Bay spodumene-bearing pegmatite.

Initial observations of the exposed pegmatite are characterized by coarse white albite, grey quartz and pale grey-green spodumene crystals up to 10cm long.

The 100%-owned Manitouwadge Flake Graphite Project covers an area 5,300 Ha and has a 20km strike length of EM anomalies with graphite prospectivity. Previous preliminary metallurgical test work indicated that up to 80% of the graphite at Manitouwadge is high value jumbo or large flake graphite. Test work also indicated that simple, gravity and flotation beneficiation can produce graphite purity levels of up to 96.8% for jumbo flake and 96.8% for large flake. With the proven

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caustic bake process, ultra-high purity (>99.95%) graphite can be produced. The graphite can also be processed into high value expandable graphite, high quality graphene and graphene oxide.

The 100%-owned Bold Properties project is located approximately 50km north-east of the town of Mine Centre in Ontario, Canada. The property is connected to Highway 11 (Trans-Canada), which is located 25km south via an all-weather road. The Bold Property Project consists of four claims (1,024 hectares) and covers a number of anomalous sulphide zones. In 1992, Hexagon Gold (Ontario) Ltd. completed a total of 17 drill holes in multiple locations on and around the Bold Property Project at various depths of up to 428m down-hole. The nine grab samples that were collected by Hexagon in 1992 returned encouraging cobalt, copper and nickel grades, confirming the significant exploration potential.

All projects located in an established mining province, with good access to infrastructure (road, rail, power, phone and port facilitates) and local contractors and suppliers.

Competent Person’s Statement

The information in this report that relates to exploration results for the Drilling Results and Exploration at the Seymour Lake Lithium project and is based on, and fairly represents, information and supporting geological information and documentation in this report has been reviewed by Mr Robert Chataway who is a member of the Association of Professional Geologists of Ontario. Mr Chataway is not a full-time employee of the Company. Mr Chataway is employed as a Consultant Geologist. Mr Chataway has more than five years relevant exploration experience, and qualifies as a Competent Person as defined in the 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (the JORC Code). Mr Chataway consents to the inclusion of the information in this report in the form and context in which it appears.

Forward Looking Statement

This announcement may contain some references to forecasts, estimates, assumptions and other forward-looking statements. Although the company believes that its expectations, estimates and forecast outcomes are based on reasonable assumptions, it can give no assurance that they will be achieved. They may be affected by a variety of variables and changes in underlying assumptions that are subject to risk factors associated with the nature of the business, which could cause actual results to differ materially from those expressed herein. All references to dollars ($) and cents in this presentation are to Australian currency, unless otherwise stated. Investors should make and rely upon their own enquires and assessments before deciding to acquire or deal in the Company’s securities.

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Table 1: Seymour Lake Lithium Project (Claim Title 1245661)

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code explanation	Commentary
Sampling techniques	• Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. • Aspects of the determination of mineralisation that are Material to the Public Report. • In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.	• Diamond Drill Core was cut in half using a core saw along the core axis. • Bagging of the half core samples was supervised by a geologist to ensure there are no numbering mix-ups. • One tag from a triple tag book was inserted in the core tray in the position of the sample interval. • Standard sample intervals averaged 1 m. • Sampling continued through intervening barren rock (if less than 10m width) where multiple Spodumene Pegmatite zones were intersected • The sample preparation and assaying techniques are industry standard and appropriate for this type of mineralisation.
Drilling techniques	• Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).	• Diamond wireline core drilling. • The drill core size is CHD 76, core diameter is 43.5 millimetres • Drill holes were orientated using the Reflex ACT II RD core orientation tool
Drill sample recovery	• Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	• The sample interval of core was measured and recorded along with a description and incorporated in the completed drill logs. • Core within the mineralised zone tended to be uniform and competent so loss was minimal and samples represent the true nature of the mineralisation • No relationship between sample recovery and grade is evident.
Logging	• Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.	• Samples represent half the core width, and are logged in detail to support appropriate Mineral Resource estimation at a later stage of exploration.

Criteria	JORC Code explanation	Commentary
	• Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. • The total length andpercentage of the relevant intersections logged.
Sub-sampling techniques and sample preparation	• If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. • Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. • Whether sample sizes are appropriate to the grain size of the material being sampled.	• Core is split in half using a core saw with the remaining half retained in the core tray. • Mineralisation is massive and relatively uniform so assay samples closely represent the in-situ material. • Samples were taken on an average of 1 metre intervals and were determined to be appropriate for the mineralised material being sampled
Quality of assay data and laboratory tests	• The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. • For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) andprecision have been established.	• All samples will be analysed by Actlabs in Thunder Bay, Ontario Canada a SCC (Standards Council of Canada) accredited laboratory. • The assay technique will be FUS-Na202 • Quality control procedures included the insertion of certified standards and blanks into the sample stream. • Results of the Heavy Liquid Separation tests are outlined in Table 3.
verification of sampling and assaying	• The verification of significant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data.	• Drill logs and sample information is documented and stored digitally in field laptop units and backed up on the Ardiden server.
Location of data points	• Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used. • Quality and adequacy of topographic control.	• Drill holes were located with handheld WAAS enabled handheld GPS units set for recording UTM NAD83 Zone 16N projection coordinates. • Drill holes were orientated using the Reflex ACT II RD core orientation tool

Criteria	JORC Code explanation	JORC Code explanation	Commentary
Data spacing and distribution	• Data spacing for reporting of Exploration Results. • Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. • Whether sample compositing has been applied.		• Core samples of the mineralised zone were taken at approximately 1 metre intervals and deemed appropriate to represent the in-situ nature of the mineralization. • Further drilling and sampling will be required to adequately establish the geologic and grade continuity for any Mineral Resource and Ore Reserve estimationprocedure.
Orientation of data in relation to geological structure	• Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.		• Drill hole locations were designed to intercept the mineralised zone as close to true width as possible to avoid sampling bias.
Sample security	• The measures taken to ensure sample security.		• Samples were secured and delivered to the assay lab under chain of custody controls by the Caracle Creek Consulting group
Audits or reviews	• The results of any audits or reviews of sampling techniques and data.		• No audits or reviews of sampling techniques have been conducted
Section 2 Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section.)
Criteria	JORC Code explanation	Commentary
Mineral tenement and land tenure status	• Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. • The security of the tenure held at the time of reporting along with any known impediments to obtaining a license to operate in the area.	• All claims in the Seymour Lake Lithium project are in good standing and these include claims 1245661 1245648 1245662 1245664 1245646, which are 100% owned by Stockport Exploration Inc. Ardiden has exercised option to acquire 100% ownership of the project claims. • Ardiden staked and owns additional claims around the project including claims: 4270593, 4270594, 4270595, 4270596, 4270597, 4270598, 4279875, 4279876, 4279877, 4279878, 4279879, 4279880, 4279881, 4279882, 4279883, 4279884, 4279885, 4279886, 4279887, 4279888, 4279889, 4279890, 4279891, 4279869, 4279870, 4279871, 4279872, 4279873 and 4279874

Criteria	JORC Code explanation	Commentary
Exploration done by other parties	• Acknowledgment and appraisal of exploration by other parties.	• Other parties have not appraised the exploration carried out to date
Geology	• Deposit type, geological setting and style of mineralisation.	• Seymour Lake area pegmatites have been classified as belonging to the Complex-type, Spodumene-subtype. Mineralization is dominated by spodumene (Li), with lesser tantalite(Ta) hosted in a series of variably steeplydipping pegmatite dykes and and sills.
Drill hole Information	• A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o hole length. • If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	• See Tables 1, 2 and Figures 3, 4 and 5 for the location of the drill collars and other dill hole information.
Data aggregation methods	• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated. • Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. • The assumptions used for any reporting of metal equivalent values should be clearly stated.	• With the homogeneity of the mineralised material, sample intervals for the most part were kept at one metre intervals
Relationship between mineralisation widths and	• These relationships are particularly important in the reporting of Exploration Results. • If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. • If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect(e.g. ‘down hole length, true width not	• Mineralised zones were determined to be shallow dipping and drill holes were drilled at -60 degrees so that drilling orientation bias was minimised

Criteria	JORC Code explanation	Commentary
intercept lengths	known’).
diagrams	• Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	• See Tables 1, 2 and Figures 3, 4 and 5 for the location of the drill hole collars
Balanced reporting • Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.		• No comprehensive report has been completed to date to include the latest Ardiden exploration results.
Other substantive exploration data	• Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	• All meaningful and material data is reported
Further work • The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling). • Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.		• Refer to text within the report.