EV RESOURCES LTD — Capital/Financing Update 2018

Feb 18, 2018

ASX ANNOUNCEMENT

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19 February 2018

Commencement of 2018 Work Program

Jadar Lithium Limited (ASX: JDR ) (“ Jadar ” or “the Company ”) is pleased to provide an update on its exploration licenses in Serbia.

Overview

• Planning for a maiden exploration program has been completed and the Company’s Serbian exploration team is prepared to commence with the planned field activities.

• Initial field activities will focus on the Cer and Bukulja projects which are prospective for pegmatite hosted lithium and associated mineralisation deposits.

• Initial exploration program will include sampling and assaying of historically defined pegmatite outcrops to determine the nature and extent of mineralisation and to define the extent of the pegmatite bodies.

• In parallel the exploration team will collect stream sediment and heavy mineral concentrates to define further possible anomalies throughout the entire permit.

• Historical work conducted by the Serbian state agencies has already defined numerous pegmatite outcrops on the Cer and Bukulja projects. Historically exploration efforts did not focus on lithium potential.

Planning for and commencement of the maiden exploration program 2018

The Company has compiled a number of historical reports detailing the work conducted on the properties by the Serbian state geological entities. Further review and analysis of historical data is ongoing.

The forthcoming work program is aimed at delineating drill targets as quickly as possible, across the Company’s five exploration projects. The Company plans to focus its initial activities on the Cer and Bukulja projects which are considered highly prospective for pegmatite related lithium deposits, as well as, associated rare elements. Both the Cer and Bukulja projects host numerous pegmatitic bodies which have been mapped and sampled by the Serbian Geological Survey. These historical programs were focused on and established the presence of tantalum, tin and beryl mineralisation, while generally no extensive work was conducted to evaluate the potential of lithium mineralisation.

Jadar's proposed Phase 1 program will;

• a) focus on mapping and sampling of known pegmatite outcrops. The objective of the exercise will be to determine the extent and volume of the known pegmatite bodies and define the presence, nature and extent of lithium and associated mineralisation;

• b) complete a permit wide stream sediment and heavy mineral sampling program, the objective of which will be to identify additional lithium bearing pegmatites.

On commencement of Phase 1 of the proposed program, the Company will aim to conclude by Q2.

Jadar Lithium Limited ABN 66 009 144 503

311-313 Hay Street Subiaco, Western Australia 6008 T:+61 (0) 8 6489 0600 F: +61 (0) 8 9388 3701 www.jadarlithium.com.au

While the Phase 1 field work is executed, the Company will continue with review and data acquisition for the Rekovac, Krajkovac and Vranje South permits and conduct reconnaissance mapping and sampling to these sites to confirm the geological setting and prospectivity of these permits. This is necessary to determine the best follow up field programs.

Phase 2 of the program is scheduled to commence in Q2 of 2018 and will involve infill geochemical sampling; detailed outcrop sampling and trenching, to define the extent of mineralised units and targets for potential drilling.

ENDS

Further enquiries:

Luke Martino Non-Executive Chairman Tel: +61 8 6489 0600 E: luke@indianoceangroup.com.au

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