Dajin Lithium Corp — Interim / Quarterly Report 2021

Jul 30, 2021

This Management's Discussion and Analysis ("MD&A") of Dajin Lithium Corp. (the "Company") is dated July 30, 2021. This MD&A should be read in conjunction with the unaudited condensed interim consolidated financial statements and accompanying notes for the six months ended May 31, 2021 and the Audited Consolidated Financial Statements and accompanying notes for the fiscal year ended November 30, 2020.

CORPORATE OVERVIEW

The Company was incorporated under the British Columbia Company Act on August 5, 1987 and is publicly traded on the TSX Venture Exchange under the symbol TSX-V: DJI, on the OTC Markets in the United States under the symbol OTCQB: DJIFF and in Germany under the symbol C2U1.

Trading in Dajin's securities on the OTCQB market provides more efficient access for U.S. investors, helping Canadian companies build greater shareholder value with a goal of enhancing liquidity and share valuation. In addition, investors will have access to more transparent pricing information through the availability of premium Real-Time Level 2 quotes for the Company on www.otcmarkets.com.

The Company, together with its subsidiaries, is engaged principally in the acquisition and exploration of mineral properties located in the Argentina and the United States. The recovery of the Company's investment in mineral properties is dependent upon the discovery of economically recoverable reserves, the ability of the Company to obtain financing to complete development and the future proceeds from the disposition of those reserves.

In Nevada, exploration work by the Company has shown the Teels Marsh valley to be highly prospective for Lithium brines. The construction of engineered access roads and two large drill pads have been completed at the Teels Marsh valley Lithium brine project. The Company has received from the Bureau of Land Management all necessary permits for drilling at the Teels Marsh and holds 100% of the required water rights awarded by the Office of the State Engineer to move the project forward.

In Argentina, the Company has reported positive results for that exploration work in Salinas Grandes salar, in the Jujuy Province. The Cooperativa San José has received an exploration permit for the exploration of the 4,400 hectares (10,873 acres) San José and Navidad minas. The San José – Navidad minas have not yet been explored for Lithium brine but past exploration by other companies in close proximity to the property included sampling from one-meter-deep pits. Of the seven closest pit samples taken from the property boundary along both the north and west sides up to a distance of 200 meters, assays of Lithium brine concentrations ranged from 279 mg/l to 987 mg/l, averaging 551 mg/l. Lithium brine samples taken within one (1) km of the property boundary are reported to contain up to 1,122 mg/l Lithium. The highest Lithium assay ever reported on the Salinas Grandes salar exceeded 3,000 mg/l.

Argentina – Salinas Grandes and Guayatayoc salar properties

San Jose-Navidad Project

Phase one of a surface exploration program has been completed on the northwest portion of the San Jose-Navidad mina located on the Salinas Grandes salar in the province of Jujuy, Argentina. There were 25 shallow brine samples taken over an area of 550 hectares (5.5 km2 ) in the northwestern corner of the 4,400 hectares (43 km2 ) San Jose-Navidad mina. Lithium concentrations ranged from 281 mg/l to 1,353 mg/l., averaging 591 mg/l.

The 25 sample points were pre-planned on a 500 m east/west and north/south grid, utilizing the Company geographical information system and located in the field with a handheld GPS. At each sample site an auger drill was used to excavate an 8-inch diameter hole to a depth of two (2) m. Thereafter a bailer was used to extract brine 0.5m to 1.0m below the phreatic level after the brine had been given time to settle over a 30 minute period. The bailed brine was then decanted into four sterilized plastic liter size bottles and sealed without any air being trapped in the bottle. There after the samples were delivered to the laboratory for analysis.

San Jose - Navidad Lithium Assay Results – February 2018

The San José – Navidad minas have not been explored previously for Lithium bearing brines but results from earlier exploration programs in adjacent parts of the salar reported Lithium brine sampling from 1-meter-deep pits. The seven closest pit samples, taken between 0 to 200 meters from both the north and west sides of the mina yielded Lithium concentrations that ranged from 279 mg/l to 987 mg/l, averaging 551 mg/l. Pit samples taken within one (1) km of the property boundary assayed up to 1,122 mg/l Lithium. The highest Lithium assay ever reported on the Salinas Grandes salar exceeded 3,000 mg/l .

In March 2019, Pluspetrol Resources Corporation B.V. ("Pluspetrol") acquired 100% of the issued and outstanding common shares of LSC Lithium Corporation ("LSC") for a cash consideration of approximately CDN $111 million. This acquisition included an earn-in agreement with Dajin Resources S.A. This earn-in agreement has been fulfilled whereby Pluspetrol has spent approximately US $500,000 in exploration expenditures and paid the Company US $600,000 to earn a 51% interest in Dajin S.A.

Pluspetrol has created the company Litica Resources S.A. ("Litica") for exploration and development of their concessions in Argentina. Litica's exploration team is currently reviewing the Salinas Grandes exploration and drilling data. This data was acquired with the takeover of LSC. The comprehensive review is in preparation for future exploration programs on the Salinas Grandes salar. . Pluspetrol has created the company Litica Resources S.A. to enter the "battery metals" business.

Due to unforeseen circumstances related to the COVID-19 pandemic it was not possible to carry out the 2020 field work that had been planned. The Company is in discussions with Litica to determine if a field program is feasible during 2021due to the ongoing COVID-19 restrictions.

On February 19, 2020, the Company announced it had formed a Strategic Alliance with Moselle Technologies Inc. ("Moselle") of Dallas, Texas by signing a letter of understanding between the two companies to work together to further pursue the exploration and extraction of Lithium from naturally occurring brines. Moselle has developed a patent pending magnetic separation process for the extraction of Lithium and other elements from naturally occurring Lithium bearing brines. The Moselle technology utilizes a solution containing magnetic nanoparticles that replaces the need for traditional evaporation ponds and reduces both the construction and operating costs of a processing facility. It cuts processing time of brine solution to a matter of minutes, not months or years. Moselle's nanoparticles have approximately one thousand times the specific surface area of traditional polymer beads. This results in very fast direct extraction and a decrease in the size and cost of equipment required for additional processing. (www.moselletechnologies.com)

The underlying technology was developed by Pacific Northwest National Laboratories, one of the large US National Laboratories supported by the United States Department of Energy. Moselle acquired the exclusive rights to the intellectual property and then funded research to develop a nanoparticle specifically for the extraction of Lithium. A pilot plant is currently being designed by Moselle for the testing of their technology on a commercial scale.

"The Company has for some time been monitoring the development and application of new technologies for the processing of Lithium bearing brines. As a result of extensive laboratory testing, the Moselle technology has proven to recover up to 99% of the lithium found in brines tested. Once commercialized, Dajin and Moselle expect this technology to have created one of the world's lowest cost production methods for Lithium extraction." reports Brian Findlay, President of Dajin.

DAJIN LITHIUM CORP. Management's Discussion & Analysis Six Months Ended May 31, 2021

United States – Nevada Properties

Teels Marsh Project

The Company holds a 100% interest in 403 placer mineral claims covering approximately 3,202 hectares (7,914 acres) in the Teels Marsh valley of Mineral County, Nevada.

The Company has been granted an extension of water rights to May 24, 2024 at the Teels Marsh Lithium brine project. The Company believes that the granting to the Company of water rights is an important element of Lithium brine exploration, extraction and processing. Low cost and time proven traditional extraction methods require concentration of brines by evaporation in surface ponds. New technologies are being developed that use less water and can potentially return processed water to the reservoir. However, the Company wishes to maintain maximum flexibility in the adoption of any future process technology for the extraction of Lithium from brine at Teels Marsh, hence the granting to the Company of water rights is an important step forward in the Company's exploration and development plans.

The Company has received a permit (Notice NVN-94695) from the Bureau of Land Management to proceed with drilling and civil works at the Teels Marsh property. During the application process, several ancillary permits were acquired by the Company in order to proceed with its exploration drilling plans. The Company has temporary permits to change the point of diversion for each of the proposed wells under their base Water Right Permit #85204. The Company has also received a Special Use Permit from Mineral County for use of heavy equipment on county roads.

Dajin has completed the construction of all necessary engineered access roads and two large drill pads in preparation for drilling of four production size diameter exploration wells. High near surface Lithium brine assay results have been received of 79 mg/l. Water rights have been granted and all necessary permits for drilling are in place.

Alkali Springs Project

The Company holds a 100% interest in 62 placer mining claims in the Alkali Springs valley of Esmeralda County, Nevada to explore for Lithium brines. The Company has applied to the State of Nevada for 1,000 acre-feet of water rights.

The Alkali Springs valley project is located 12 km northeast of Albemarle's Silver Peak Lithium operation in Clayton Valley, the only producing brine-based Lithium mine in operation in North America. Like Clayton Valley, Alkali Springs valley is a classic, fault bounded closed basin.

The Company, through its subsidiary Dajin Resources (US) Corp. ("Dajin US"), entered into an Earn-In Agreement (the "EIA") with Lone Mountain Resources, LLC ("LMR"), a privately held lithium exploration and development company in the United States. Pursuant to the EIA, Dajin US granted LMC the right to acquire up to an undivided 75% interest in 62 unpatented placer mining claims owned by Dajin US and any properties in the Area of Mutual Interest (as defined) that become subject to the EIA, together with any water rights, water right applications, regulatory permits and land use entitlements initiated during the term of the EIA (collectively, the "Properties"). The grant was made in consideration of a one-time payment from LMR to Dajin US of US$25,000. LMR was also granted the authority and rights required to apply in its name for all permits, licenses, water rights and other approvals deemed necessary or appropriate in connection with the activities contemplated in the EIA.

In order to earn an initial undivided 51% right, title and interest in and to the Properties, LMR must incur a total of US$136,000 in Expenditures (as defined) during the term of the EIA. LMR can terminate the EIA prior to acquiring a 51% interest in the Properties and is not obligated to incur any particular amount of Expenditures. LMR's right to receive a 51% undivided interest vests once it has incurred US$136,000 in Expenditures. If LMR earns a 51% interest, then it has the right but not the obligation to earn up to an additional undivided 24% right, title and interest in and to the Properties (the "Additional Interests") by making additional Expenditures of US$2,667 for each 1% of Additional Interests to be acquired, up to a maximum of US$64,000. When LMR has earned Additional Interests, its rights to these interests will vest in proportion to its ongoing Expenditures. If LMR has earned at least a 51% interest in the Properties by the end of the term, Dajin US and LMR will execute the Mining Venture Agreement (the "MVA") (as specified) which will govern the parties' rights and obligations with respect to the Properties. If LMR has not earned at least a 51% interest in the Properties by the end of the term, the EIA will terminate and it has no further right, title or ownership interest in the Properties.

In lieu of executing the MVA, Dajin US can elect to convert its interest in the Properties into a 3% royalty interest (the "RI") in the Net Mineral Value (as defined) of mineral production from the Properties by giving LMR at least 30-day notice prior to the end of the term. If this election is made, its remaining right, title and interest in the Properties will be conveyed to LMR, subject to the RI. Dajin US's failure to execute the MVA within 30 days after the end of the term, after also failing to elect to convert its interest in the Properties into a RI, will act as an automatic conversion of its interest in the Properties into the RI. Subsequent to conversion, LMR is entitled, but not required, in its sole discretion, at any time, to purchase the RI from Dajin US in exchange for a cash payment of US$1.5 million. LMR may elect, in its discretion, to make one or more fractional purchases of the RI, with the purchase price pro-rated based on the overall purchase price of US$1.5 million.

For as long as the EIA remains in effect, LMR will pay the necessary claim maintenance fees for all unpatented mining claims included in the Properties and make all necessary federal and county filings, with all such payments qualifying as Expenditures.

The term of the EIA ends on the earlier of (i) August 31, 2022 or (ii) LMR notifying Dajin US of the end of the term. LMR can terminate the EIA at any time by giving written notice to Dajin US. LMR can elect to relinquish its interest in any portion of the Properties by giving notice to Dajin US, without terminating the EIA as to the remaining portion of the Properties. If the EIA is terminated prior to the vesting of the 51% interest in LMR, LMR will provide Dajin US with a quitclaim deed to the Properties and an assignment of any permits or water rights associated with the Properties.

The Company's interest in these placer mining claims is held in the Company's wholly-owned US subsidiary, Dajin Resources (US) Corp.

RESULTS OF OPERATIONS

Three months ended May 31, 2021

For the three months ended May 31, 2021, the Company incurred a net loss of $59,230 (May 31, 2020: $48,601 net loss) an increase of $10,629. The change is mainly due to increase of foreign exchange loss, wages and benefits expense and decrease or rent expense.

Total expenses for the three months ended May 31, 2021 were $59,230 as compared to $48,039 for the comparable period an increase of $11,191. The change is mainly due to decrease in rent, and increase of foreign exchange loss, in wages and benefits expense.

Six months ended May 31, 2021

For the six months ended May 31, 2021, the Company incurred a net loss of $90,966 (May 31, 2020: $141,822 net loss) a decrease of $50,856. The change is mainly due to decrease in rent, share-based payments and wages and benefits expenses.

Total expenses for the six months ended May 31, 2021 were $101,954 as compared to $154,890 for the comparable period a decrease of $52,936. The change is mainly due to decrease in rent, share-based payments and wages and benefits expenses.

DAJIN LITHIUM CORP. Management's Discussion & Analysis Six Months Ended May 31, 2021

Summary of Quarterly Results

FOR THE THREE MONTHS ENDED

	May 31,2021		February 28,2021		November 30,2020		August 31,2020
Total revenues	$	-	$	-	$	-	$	-
Net income (loss)	$	(59,230)	$	(31,736)	$	(643,387)	$	(141,124)
Basic and diluted loss pershare	$	(0.00)	$	(0.00)	$	(0.00)	$	(0.00)

FOR THE THREE MONTHS ENDED

	May 31,2020		February 29,2020		November 30,2019		August 31,2019
Total revenues	$	-	$	-	$	-	$	-
Net income (loss)	$	(48,601)	$	(93,221)	$	50,261	$	(139,464)
Basic and diluted loss per share	$	(0.00)	$	(0.00)	$	(0.00)	$	(0.00)

There can be material fluctuations in quarterly results. The income/loss for the quarters ended February 28, 2021, November 30, 2020, August 31, 2020, May 31, 2020, February 29, 2020, November 30, 2019 and August 31, 2019, includes a share-based compensation charge of $Nil, $Nil, $103,710, $Nil, $40,960, $29,150, and $Nil, respectively, due to the granting of share purchase options during these quarters

LIQUIDITY AND CAPITAL RESOURCES

As of May 31, 2021, the Company had a working capital deficiency of $149,501 as compared to a working capital deficiency of $234,770 at November 30, 2020.

To date, the Company has been able to fund operations and property exploration and evaluation primarily through equity financings and short-term loans. The continued volatility in the financial equity markets has made it difficult to raise capital. The junior mining industry is considered speculative in nature which could make it even more difficult to fund. While the Company is using its best efforts to achieve its business plans by examining various financing alternatives, there is no assurance that the Company will be successful with its financing ventures.

During the six months ended May 31, 2021, the Company issued 1,430,000 common shares of the Company on January 21, 2021 at a price of $0.05 per share upon exercise of share purchase options for total proceeds of $71,500. On February 16, 2021, the Company issued 720,000 common shares at a price of $0.05 per share upon exercise of share purchase options for total proceeds of $36,000. On March 26, 2021, the Company issued 750,000 common shares at a price of $0.10 per share upon exercise of share purchase options for total proceeds of $75,000.

OFF-BALANCE SHEET ARRANGEMENTS

During the reporting period there were no off-balance sheet arrangements.

RELATED PARTY TRANSACTIONS

The Company incurred the following charges with directors and officers (Brian Findlay, Catherine Hickson, Mark Coolbaugh and Rachelle Findlay) of the Company and private companies controlled by the directors (Brian Findlay and Catherine Hickson):

			For The Three Months Ended		For The Six Months Ended
	Relationship	May 312021	May 312020	May 312021	May 312020
Key management compensation
Consulting fees –operating expenses	A private companycontrolled by adirector (CatherineHickson)	$-	$12,000	$-	$12,000
Geological consulting –resource property costs	A private companycontrolled by adirector (CatherineHickson)	-	6,143	-	6,143
Rentreimbursement	A private companycontrolled by adirector (BrianFindlay)	3,000	14,286	6,000	28,476
Share-based compensation	Directors of theCompany	-3,000	-32,429	-6,000	20,40067,019
Wages and benefits	An officer of theCompany	13,500	2,412	18,000	16,881
Office and administrationexpense	An officer of theCompany	-	-	8,525	-
Share-based compensation	An officer of theCompany	-13,500	-2,412	-26,525	51017,391
		$16,500	$34,841	$32,525	$84,410

These charges were measured by amounts agreed upon by the transacting parties.

Included in May 31, 2021 accounts payable and accrued liabilities is $20,322 (November 30, 2020: $10,241) of reimbursable expenses (November 30, 2020: reimbursable expenses) owing to companies with common officers and directors.

Included in May 31, 2021 loans payable is $97,897 (November 30, 2020: $126,997) owing to certain officers and directors of the Company.

Amounts due to related parties are non-interest bearing, unsecured and are due on demand.

CRITICAL ACCOUNTING POLICIES AND ESTIMATES

The preparation of financial statements in conformity with IFRS requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.

Information about critical judgments in applying accounting policies that have the most significant effect on the amounts recognized in the condensed interim consolidated financial statements is included in the following notes:

Resource property expenditures

The application of the Company's accounting policy for resource property expenditures requires judgment in determining whether it is likely that future economic benefits will flow to the Company, which may be based on assumptions about future events or circumstances. Estimates and assumptions made may change if new information becomes available. If, after an expenditure is capitalized, information becomes available suggesting that the recovery of the expenditure is unlikely, the amount capitalized is written off in the statement of comprehensive loss in the period the new information becomes available.

Impairment

At each reporting period, assets, specifically resource property costs, are reviewed for impairment whenever events or changes in circumstances indicate that their carrying amounts exceed their recoverable amounts. The assessment of the carrying amount often requires estimates and assumptions such as discount rates, exchange rates, commodity prices, future capital requirements and future operating performance.

Going concern

The Company uses judgment in determining its ability to continue as a going concern in order to discharge its current liabilities via raising additional financing.

Investment in Dajin Resources S.A.

The accounting for investments in other companies can vary depending on the degree of control and influence over those other companies. Management is required to assess at each reporting date the Company's control and influence over these other companies. Management has used its judgment to determine which companies are controlled and require consolidation and those which are significantly

influenced and require equity accounting. The Company has diluted its interest in its previously whollyowned subsidiary Dajin Resources S.A. ("Dajin S.A.") to less than 50% and as a result it does not have the ability to control the key operating activities of the Dajin S.A. The board of directors of Dajin S.A. is comprised of two directors appointed by Lithium S. Holding Corporation and one director appointed by the Company. The operator prepares and submits annual budgets and programs to the board for approval and has sole and exclusive right and authority to manage, direct and supervise all operations for and on behalf of Dajin S.A. Management has determined that the Company does not have significant influence over Dajin S.A. Accordingly, the investment in Dajin S.A. is accounted for at cost and not as an investment in associate.

CHANGES IN ACCOUNTING POLICIES

The following new standards and interpretations are not yet effective and have not been applied in preparing the condensed interim consolidated financial statements. The Company is currently evaluating the potential impact of these new standards; however, the Company does not expect them to have a significant effect on the financial statements.

Business combinations

Narrow-scope amendments to IFRS 3 were issued in October 2018 and apply to annual reporting periods beginning on or after January 1, 2020. The amendments clarify the definition of a business, provide guidance in determining whether an acquisition is a business combination or a combination of a group of assets, emphasize that the output of a business is to provide goods and services to customers and provide a supplementary guidance.

Presentation of financial statements

An amendment to IAS 1 was issued in January 2020 and applies to annual reporting periods beginning on or after January 1, 2023. The amendment clarifies the criterion for classifying a liability as noncurrent relating to the right to defer settlement of a liability for at least 12 months after the reporting period.

FINANCIAL AND OTHER INSTRUMENTS

Financial instruments issued by the Company are treated as equity only to the extent that they do not meet the definition of a financial liability. The Company's common shares are classified as equity instruments.

Subsequent measurement and changes in fair value will depend on their initial classification, as follows: heldfor-trading financial assets are measured at fair value and changes in fair value are recognized in net earnings; available-for-sale financial instruments are measured at fair value with changes in fair value recorded in other comprehensive income until the investment is derecognized or impaired at which time the amounts would be recorded in net earnings.

The Company classifies and measures its financial instruments as follows:

• Cash and cash equivalents and reclamation bonds are classified as subsequently measured at amortized cost.
• Marketable securities are classified as FVTPL.
• Accounts payable and accrued liabilities and loans payable are classified as subsequently measured at amortized cost.

The Company's risk exposures and the impact on the Company's financial instruments are summarized below:

(a) Credit risk

Credit risk is the risk of an unexpected loss if a party to a financial instrument fails to meet its contractual obligations. The Company's credit risk is primarily attributable to cash. The Company has no significant concentration of credit risk arising from operations. The Company reduces its credit risk on cash by placing these instruments with institutions of high credit worthiness. As at May 31, 2021 the Company is not exposed to any significant credit risk.

(b) Liquidity risk

Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they fall due. At May 31, 2021, the Company had cash of $10,707 (November 30, 2020 - $645) and current liabilities of $189,372 (November 30, 2020 - $241,006) of which $97,897 (November 30, 2020 - $126,997) is related party loans to the Company. All of the Company's financial liabilities have contractual maturities of less than 30 days and are subject to normal trade terms.

(c) Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company is exposed to short term interest rates through the interest earned on cash balances. The Company has significant cash balances and no interest-bearing debt. The Company's current policy is to invest excess cash in short-term deposits with its banking institutions. The Company monitors the investments it makes and is satisfied with the credit ratings of the banks with which they are held.

(d) Price risk

The ability of the Company to finance the exploration and development of its properties and the future profitability of the Company is directly related to the commodity prices of industrial minerals (Lithium, Boron and Potassium), and precious and base metals. Commodity price risk is defined as the potential adverse impact on earnings and economic value due to commodity price movements and volatilities. Sensitivity to price risk relative to earnings is remote since the Company has not established any reserves or production. The Company is also exposed to the risk of equity prices. Equity price risk is defined as the potential adverse impact on the Company's earnings due to movements in individual equity prices or general movements in the level of the stock market. The Company monitors commodity prices of industrial minerals, precious and base metals, individual equity movements, and the stock market in general to determine the appropriate course of action to be taken.

(e) Sensitivity Analysis

The Company has designated its cash and cash equivalents and reclamation bonds as loans and receivables and measures them at their amortized costs. Bank indebtedness, accounts payable and accrued liabilities and loans payable are classified as other financial liabilities, which are measured at their amortized costs.

Based on management's knowledge and experience of the financial markets, the Company believes the following is "reasonably possible" during the upcoming financial year:

Commodity price risk could adversely affect the Company. In particular, the Company's future profitability and viability of development depends upon the world market price of precious metals. Precious metal prices have fluctuated significantly in recent years. There is no assurance that, even as commercial quantities of precious metals may be produced in the future, a profitable market will exist for them. As of November 30, 2020, the Company was not a precious metal producer. As a result, commodity price risk largely affects the completion of future equity transactions such as equity offerings and the exercise of stock options and warrants. This may also affect the Company's liquidity and its ability to meet its ongoing obligations.

(f) Foreign Currency Risk

Foreign currency exchange rate risk is the risk that the fair value or future cash flows will fluctuate as a result of changes in foreign exchange rates. The Company's operations are carried out in the Canada, United States and Argentina. As at May 31, 2021, the Company had accounts payable of $16,645 (November 30, 2020: $15,218) denominated in US dollars. These factors expose the Company to foreign currency exchange rate risk, which could have an adverse effect on the profitability of the Company. The Company currently does not plan to enter into foreign currency future contracts to mitigate this risk.

RISKS AND UNCERTAINTIES

The more significant risks and uncertainties not discussed elsewhere in this MD&A include:

Financing Risk

The Company will need to continue raising funds to finance its operations and exploration activities. There is no certainty that the Company will be able to raise money on acceptable terms or at all.

Exploration Risk

Exploration for mineral resources involves a high degree of risk. The cost of conducting exploration programs may be substantial and the likelihood of success is difficult to assess. Few explored properties are ultimately developed into producing mines. The Company attempts to mitigate its exploration risk by maintaining a diversified portfolio that includes several different exploration prospects in a number of favorable geologic environments.

Environmental Risk

The Company seeks to operate within environmental protection standards that meet or exceed existing requirements in the countries in which the Company operates. Present or future laws and regulations, however, may affect the Company's operations. Future environmental costs may increase due to changing requirements or costs associated with exploration and the developing, operating and closing of mines. Programs may also be delayed or prohibited in some areas. Although minimal at this time, site restoration costs are a component of exploration expenditures.

OUTSTANDING SHARE DATA

As at July 30, 2021
Common Sharesissued	164,275,508
Incentive stockoptions	8,870,000
Share purchase warrants	-

OTHER

Additional information and other publicly filed documents relating to the Company, including its press releases and quarterly and annual reports, are available on SEDAR and can be accessed at www.sedar.com.