GREENWING RESOURCES LTD — Capital/Financing Update 2023

Aug 15, 2023

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ASX Announcement

DRILLING PROGRESS REPORT SAN JORGE LITHIUM PROJECT, ARGENTINA – BRINE INTERSECTED FROM 30m

16 August 2023

Greenwing Resources Ltd ( Greenwing or the Company ) (ASX:GW1) is pleased to provide the following update on the drilling program currently being conducted at the San Jorge Lithium Project in Argentina.

HIGHLIGHTS

• Drilling of hole SJDD01 is now advancing steadily, having now reached 117 m depth, after some initial delays related to high winds, resultant restricted work hours, new drill site start up and logistics issues.

• Maiden drill hole SJDD01, the first of the initial 3 hole program, is expected to continue directly into a comprehensive resource drilling program of 12-15 holes.

• First batch of brine samples, from the upper 100 m of the hole, have been sent for analysis.

• Post the perforation of a circa 30m upper unit characterised by clays, sand and interspersed basalt SJDD01 has intersected gravel-size volcanic material, interbedded with thin volcanic units to the current hole depth, saturated in brine.

• Greenwing anticipates drilling advancing at 15-20 metres per day, inclusive of brine and porosity sampling, reaching the nominal target depth of 400 m for SJDD01 early next month. Downhole geophysics will be run when the hole is completed.

• Greenwing guides for the declaration of a maiden resource at the San Jorge Project by the end of 2023.

“Post some initial weather and logistical obstacles, we are excited to now be encountering porous units at San Jorge and are now making material progress on SJD001. Encouragingly we have taken and dispatched our first samples from San Jorge and remain on target for an initial resource this calendar year.”

RICK ANTHON – CHAIRMAN

Greenwing Resources Ltd ABN 31 109 933 995 Level 21, 110 Mary Street Brisbane Qld 4000 www.greenwingresources.com

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Figure 1: San Jorge Salar SJDD01 drill platform and drill rig.

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Figure 2 Preparing drilling fluid supply for SJDD01, San Jorge Project

DRILLING PROGRESS TO DATE

The objectives are to confirm the material hosting the brine identified in the extensive TEM geophysical survey, obtain representative brine and porosity samples.

Following commencement of drilling of SDJ001 (at site 4, Figure 4) on 29 June 2023, the Company intersected clay, sand, silt with interspersed basalt in the upper 30 m below surface, with interspersed gravelly clastic units between thin fractured volcanic units below this to the current depth of drilling.

Drilling encountered several delays due to high winds (in excess of 140km/hr) and ensuing logistical problems, including reduced work hours which have subsequently subsided.

Drilling is continuing in hole SDJ001 at circa 15m per day inclusive of downhole brine sampling.

GW1 has taken a batch of brine samples and despatched for assay.

MAIDEN DRILLING PROGRAM

The drilling program was planned around the western and northern margins of the San Jorge salar where a TEM geophysical survey confirmed the presence of brine extending away from the salar edge, westward under volcanic flows.

Three diamond holes to the bedrock depth (estimated to be around 400m) are planned, with the objective of confirming the lithium concentration and porosities and obtaining initial information about different types of host lithologies.

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Camp construction was completed in June, with drilling commencing on 29 June. Post initial establishment, the Company will now be providing drilling updates at regular intervals throughout the intended program.

Positive results from the maiden drill program will justify construction of access roads onto the salar to undertake a focussed resource drilling program on a regular grid. This subsequent evaluation program is already planned as a follow up to these initial evaluation activities.

The total cost of the initial 3-hole program is estimated at US$1.5 million.

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Figure 3: Proposed exploration drill holes within the exploration licenses. Initial program is planned to include three or more of the defined drill sites, commencing with SDJ001at Site 4

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SAN JORGE LITHIUM BRINE PROJECT

Located in Catamarca Province, Argentina, within the Lithium Triangle (Figure 5) the San Jorge Project has a strong surface signature, with multiple brine samples confirming elevated lithium across the salar, with concentrations up to 285 mg/L lithium.

The San Jorge Project is located near major lithium mining and development companies including Zijin Mining, Allkem, Livent, Gangfeng, Rio Tinto, Lake Resources and Galan Lithium.

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Figure 4: Location of the project relative to other major lithium projects

The Company has the right to acquire up to 100% of the San Jorge Lithium Project (Figure 5) entirely at its election on satisfaction of investment and expenditure commitments. The Company’s current interest in the project is 25%, which will increase upon conclusion of this program.

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PROJECT LOCATION AND EXPLORATION LICENSES

Catamarca Province is one of three provinces in the north of Argentina that host globally significant resources of lithium, within brine beneath Salars. Extraction of lithium from brine has a lower overall carbon-footprint than from hard rock operations and is a key source of lithium for the electrical revolution, with electrification of transportation and development of large-scale battery storage to accompany renewable energy generation.

The San Jorge salar covers 2,800 hectares and consists of 15 granted exploration licenses. Greenwing is the sole owner of all mining tenure on the salar as well as 36,000 hectares of surrounding ground.

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Figure 5: Map of exploration licenses covering the San Francisco Salar and surrounding basin.

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PREVIOUS TEM GEOPHYSICAL SURVEY

A Transient Electromagnetic ( TEM ) Geophysical survey consisted of 10 lines with 128 TEM stations (Figure 6) was completed in August 2022[1] .

The exploration objective of the TEM survey was to map the extent of the brine body, particularly off the salar, and to provide information on the lithologies associated with aquifers in the salar, as well as to define geological structures.

The survey successfully defined the brine body extending beneath lava flows and gravels west of the salar (Figure 6, Line 6), extending up to 2.4 km west of the salar surface. Over the salar the survey defined the presence of brine to depths of 100 to 150m, the maximum depth penetration of the survey in the highly conductive environment of the salar.

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Figure 6: Location of TEM geophysical lines to evaluate brine distribution.

1 ASX announcement ‘San Jorge Project Update – Geophysics Significantly Expands Brine Body Area’ released on 5 August 2022.

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Off the salar the survey has defined extension of the brine body to depths up to 500 metres. The conductivity responses are 1 ohm m or less, which is considered very positive for discovery of brine with potentially economic characteristics for lithium production. The high conductivity zone is surrounded by an extensive zone of 1 to 2 ohm m response, representing less concentrated brine, or brine in more resistive host material, such as volcanic rocks.

Figure 7 shows the conductive unit (pink to blue) extending under thin lava flows west of the Salar, with some more resistive units that probably represent lava flows (volcanic), also hosting brine. There appear to be more conductive units beneath the resistive (dry) surface lava flow, and these may be volcanic ash, Salar sediments, porous or fractured lava flows. The porous units terminate against the volcano to the south of the Salar, with brine also extending beneath sporadic volcanic units north of the Salar.

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Brine continues under lava flow Western limit of salar
Volcanic?
Salar – high conductivity
Bedrock
Bedrock
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Figure 8: Cross section along TEM line 6, showing the extension of brine (pink to blue zones) beneath lava flows west of the salar

DIRECT LITHIUM EXTRACTION (DLE) ACTIVITIES

Following the completion of the initial 3 hole program the Company will be in the position to take bulk brine samples, which can be shipped to potential Direct Lithium Extraction (DLE) technology providers, to provide more definitive information regarding lithium recoveries and potential operating costs at production scale. This will allow decision making regarding a preferred supplier for the project at the feasibility level stage, provided results are positive.

For further information:

visit www.greenwingresources.com or contact: peter@greenwingresources.com

Peter Wright, Executive Director, Rick Anthon, Chairman (+61 404 945 189)

This announcement has been approved by the Company’s Board of Directors for release.

ABOUT GREENWING RESOURCES

Greenwing Resources Limited ( ASX:GW1 ) is an Australian-based critical minerals exploration and development company committed to sourcing metals and minerals required for a cleaner future. With lithium and graphite projects across Madagascar and Argentina, Greenwing plans to supply electrification markets, while researching and developing advanced materials and products.

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Disclaimer

This document has been prepared by Greenwing Resources Ltd (the “Company”). It should not be considered as an invitation or offer to subscribe for or purchase any securities in the Company or as an inducement to make an invitation or offer with respect to those securities. No agreement to subscribe for securities in the Company will be entered into based on this document.

This document is provided on the basis that neither the Company nor its officers, shareholders, related bodies corporate, partners, affiliates, employees, representatives, and advisers make any representation or warranty (express or implied) as to the accuracy, reliability, relevance, or completeness of the material contained in the document and nothing contained in the document is or may be relied upon as a promise, representation or warranty, whether as to the past or the future. The Company hereby excludes all warranties that can be excluded by law.

Forward-Looking Statements

This announcement contains certain forward-looking statements’ within the meaning of the securities laws of applicable jurisdictions. Forward-looking statements can generally be identified by the use of forward-looking words such as ‘may,’ ‘should,’ ‘expect,’ ‘anticipate,’ ‘estimate,’ ‘scheduled’ or ‘continue’ or the negative version of them or comparable terminology.

Any forecasts or other forward-looking statements contained in this announcement are subject to known and unknown risks and uncertainties and may involve significant elements of subjective judgment and assumptions as to future events which may or may not be correct. There are usually differences between forecast and actual results because events and actual circumstances frequently do not occur as forecast and these differences may be material.

Greenwing Resources does not give any representation, assurance, or guarantee that the occurrence of the events expressed or implied in any forward-looking statements in this announcement will occur and you are cautioned not to place undue reliance on forward-looking statements. The information in this document does not take into account the objectives, financial situation, or particular needs of any person. Nothing contained in this document constitutes investment, legal, tax, or other advice.

Important information

This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal. The securities referred to in this document have not been and will not be registered under the United States Securities Act of 1933 (the ‘US Securities Act’), or under the securities laws of any state or other jurisdiction of the United States and may not be offered or sold, directly or indirectly, within the United States, unless the securities have been registered under the US Securities Act or an exemption from the registration requirements of the US Securities Act is available.

This document may not be distributed or released in the United States.

Competent Person Statement

The information in this report that relates to Exploration Results has been prepared by Mr Murray Brooker. Murray Brooker is a geologist and hydrogeologist and is a Member of the Australian Institute of Geoscientists. Mr Brooker is an employee of Hydrominex Geoscience Pty Ltd and is independent of Greenwing. Mr Brooker has sufficient relevant experience to qualify as a competent person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Brooker consents to the inclusion in this announcement of this information in the form and context in which it appears.

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JORC Table 1

Section 1 - Sampling Techniques and Data related San Jorge

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

Criteria	JORC Code explanation	Commentary
Sampling techniques	• Nature and quality of sampling (eg 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 (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g 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 (eg submarine nodules) may warrant disclosure of detailed information.	• The pre-collars from surface were drilled using the Tricone drilling method, and chips were logged as collected, to 30 m below surface. • The pre-collar was then cemented in and HQ Core drilled. • Core recovery from the HQ was carefully measured by comparing the measured core to the core runs and then a total recovery per section determined. • HQ Drill core sampling was undertaken to obtain representative samples of the stratigraphy and sediments that host brine, for porosity testing and evaluation of specific yield, the brine that could be extracted. • Brine samples are being collected from single and double packer sampling equipment as the hole is deepened. Brine samples are used for lithium analysis, with the lithium dissolved in the brine hosted in pores within core samples. • Porosity samples are collected in Lexan polycarbonate tubes during the drilling, with cores between porosity samples (taken every 12 m) collected in triple tubes and stores in core boxes. • Conductivity and Density measurements are taken with a field portable High Range Hanna multi parameter meter and floating densiometers. • Testing of the chemical composition (including Lithium, Potassium, Magnesium concentrations and those of other ions) of brines are undertaken at a local laboratory in Argentina. • Transient Electromagnetic (TEM) geophysics was previously undertaken on the surface of the salar and surrounding area. The Transient Electromagnetic method (TEM) used a 200 x 200 m loop that is moved between stations located 400 m apart on east west lines. The lines are separated by 1000 m in the north- south direction. • TEM has proven to be a highly applicable technique in and around salars, as the method avoids the surface conductivity issues associated with resistivity methods, such as Vertical Electrical Soundings or resistivity profiling. • The TEM method has a lesser penetration on the salar surface, but sees through resistive surface sediments and volcanics to define the extension of brine beneath these units. • Highly conductive zones of <1 ohm m are located beneath the salar surface, continuing to the west under volcanic flow units, surrounded by a zone of 1-2 ohm m resistivity • Survey lines were oriented perpendicular to the elongationof the salar.

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Criteria	JORC Code explanation	Commentary
Drilling techniques	• Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg 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).	• The pre-collars from surface were drilled using the Tricone drilling method; chips were logged as collected, to the pre-collar depth, which was 30 m in this hole. • The pre-collar was then cemented in (isolated) and HQ Core drilled. • Core recovery from the HQ was carefully measured by comparing the measured core to the core runs and then a total recovery per section determined. • HQ Drill core sampling was undertaken to obtain representative samples of the stratigraphy and sedimentsthat hostbrine.
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.	• Core recovery from the HQ was carefully measured by comparing the measured core to the core runs and then a total recovery per section determined. • No relationship exists between core recovery and lithium concentration, as the lithium is present in brine, sampled independently of the core samples. Brine is extracted using packer sampling and the sediment material is not the target for lithium extraction.
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. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. • The total length and percentage of the relevant intersections logged.	• The core is logged by a geologist. The senior geologist supervises the taking of samples for laboratory analysis. • Logging is both qualitative and quantitative in nature. The relative proportions of different lithologies which have a direct bearing on the overall porosity, contained and potentially extractable brine are noted, as are more qualitative characteristics such as the sedimentary facies. Cores are photographed. • Downhole geophysical logging wil be undertaken by Zelandez, a Salta (Argentina) based specialist Borehole Geophysical Logging company, with a number of logging probes, including, Caliper, Conductivity, Resistivity, Borehole Nuclear Magnetic Resonance (NMR or BMR), Spectral Gamma. • The BMR probe in particular provides information of Total Porosity, Specific Retention and Specific Yield. The total porosity of a rock formation represents the total pore space. Although Total Porosity has two principal components, Specific Retention and Specific Yield: (a) Specific Retention (Sr), represents the portion of the Total Porosity that is retained by clay and capillary bound sections of a sediment. (b) Specific Yield (Sy) is the amount of water/brine that is actually available within the sediment for groundwater pumping. • Specific Yield is a key parameter when calculating a Lithium Brine Resource. • Physical samples of the core are also sent to the Geosystems Analysis porosity laboratory in Arizona (USA) for measurements of specific yield andtotalporosity.This samplingis

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Criteria	JORC Code explanation	Commentary
		undertaken as a check on the BMR sampling, with a comparison of variance and averages undertaken.
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.	• Brine samples were collected by using an inflatable packer to purge the hole of all fluid, to minimise the possibility of contamination by drilling fluid. The packer allowed sampling of isolated sections of the hole, allowing the packer interval to re-fill with groundwater following purging. • Samples were then taken from the relevant section, with three well volumes of brine purged where this was possible. • Field duplicate samples are collected in the field. Single packer samples are taken during the progression of drilling. Once the hole is completed, double packer samples will be taken in an upward progression leaving the hole, as a check on the initial single packer samples. • Brine sample (0.5 litre) sizes are considered appropriate to be representative of the formation brine. • Cores are geologically logged and ~20cm intervals from the base of Lexan tubes are collected every ~12 m. These samples are cut from the bottom of the Lexan tubes and sealed with caps to prevent moisture loss, before sending to the Geosystems Analysis laboratory in the USA for testing. • Cores are representative of the interval in which they are taken. Porosity can vary significantly in clastic salt lake sequences and for this reason downhole BMR logging is undertaken.
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 (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.	• Samples are transported to the Geosystems Analysis (GSA) porosity testing laboratory in Arizona, USA. The laboratory has extensive experience testing core samples from salt lakes for porosity. Sub-samples are analysed in a secondary porosity laboratory, as a check on the GSA results. • Brine samples were sent to the Alex Stewart International Laboratory in Jujuy, Argentina, where detailed chemistry was processed. The laboratory is ISO 9001 and ISO 14001 certified and specialises in the chemical analysis of brines and inorganic salts, with considerable experience in this field.
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,	• Field duplicates, standards and blanks are used to monitor potential contamination of samples and the repeatability of analyses. • Duplicate and blank samples were sent to the Alex Stewart Laboratory in Mendoza, Argentina, as blind duplicates and standards,

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Criteria	JORC Code explanation	Commentary
	data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data.	for analysis in this secondary laboratory. • Samples were accompanied by chain of custody documentation. • Assay results were imported directly from laboratory spreadsheet files to the Project database.
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.	• The stations were located with a hand-held GPS. The Project location is in zone 2 of the Argentine Gauss Kruger coordinate system with the Argentine POSGAR 94 datum. • Hand held GPS in this area is typically accurate to within approximately 5 m laterally. • Topographic control is based on information from publicly available SRTM topography, which is considered sufficient for the level of explorationconducted.
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.	• Drill holes will have a spacing of approximately 2 km in this initial program. • Geophysical lines hada 1 km spacing north to south, with stations spaced every 400 m along the east-west lines. • Station spacing is considered sufficient for initial characterisation of the salar.
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.	• The salar deposits that host lithium-bearing brines consist of sub-horizontal beds and lenses of sediments, volcanic ash, and possibly silt, sand and clay, with halite, and gravel, depending on the location within the salar. • Drilling is conducted in vertical holes, perpendicular to the stratigraphy.
Sample security	• The measures taken to ensure sample security.	• Data was recorded and processed by trusted employees and contractors and overseen by management, ensuring the data was not manipulated or altered. • Samples are transported from the drill sites to secure storage at the camp ona daily basis.
Audits or reviews	• The results of any audits or reviews of sampling techniques and data.	• No audits or reviews have been conducted to date.

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,	• The Greenwing properties consist of 15 properties for a total of 38,000 hectares, of which 2,800 are covering the salar area. The properties are located in the province of

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Criteria	JORC Code explanation	Commentary
	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 licence to operate in the area.	Catamarca in northern Argentina at an elevation of approximately 4,000 masl. Greenwing has options to acquire 100% of the properties. • The tenements/properties are believed to be in good standing, with payments made to relevant government departments. The company maintains good relationships with the local government and government agencies and communities as partofoperations.
Exploration done by other parties	• Acknowledgment and appraisal of exploration by other parties.	• The properties were subject to brief and inconclusive brine sampling previously, with only 5 brine samples taken along the eastern edge of the salar by the vendor. The sampling completed in October 2021 confirmed comparable results along the eastern side of the salar, with higher results in the centre of the salar.
Geology	• Deposit type, geological setting and style of mineralisation.	• The project is a salar deposit, located in a closed basin in the Andean Mountain range in Northern Argentina. • The sediments within the salar consist of volcanic ash, silt, and volcanic flows locally, and possibly at deeper levels sand, gravel halite and or clay, which have accumulated in the salar from terrestrial sedimentation from the sides of the basin. Brine hosting dissolved lithium is present in pore spaces. • The sediments are interpreted to be essentially flat lying with unconfined aquifer conditions close to surface and semi-confined to confined conditions at depth • Geology was recorded during previous excavationofshallowpitsforbrine sampling.
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.	• All holes are to be drilled vertically through the unconsolidated clastic sediments and volcanic units. • The coordinates of the drill hole in Zone 2 of the local Argentine Gauss Kruger coordinate system is: Easting 2582597/ Northing 7017995, at an elevation of approximately 4000 m.

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Criteria	JORC Code explanation	Commentary
Data aggregation methods	• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg 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.	• Individual TEM soundings were recorded at each site and later this information was interpolated into sections, based on data from individual stations.
Relationship between mineralisation widths and intercept lengths	• 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 (eg ‘down hole length, true width not known’).	• The sediments hosting brine are interpreted to be essentially flat lying. The entire thickness of sediments has potential to host lithium brine, with the water table within approximately 0.3 metre of surface on the salar.
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.	• A diagram is provided in the text showing the location of the properties, the initial drill hole at Site 4and the geophysics, as well as an example geophysical section.
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.	• Data regarding previous geophysics and the initial drilling in SDJ001 is presented in this release. Further information will be provided as it becomes available.
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.	• The company is conducting diamond drilling to obtain geological information, brine samples, and hydraulic parameters for the potential future installation of production wells. • The TEM electrical geophysical survey and passive seismic survey results for the project were previously disclosed and have been used to guide drilling.

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Criteria	JORC Code explanation	Commentary
Further work	• The nature and scale of planned further work (eg 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.	• The company is undertaking diamond drilling following the two geophysical surveys (previous passive seismic and TEM surveys) havethat were completed and used to provide information on the extent of brine and potential thickness of the brine body.

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