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Additional High-Grade Lithium at Bonnie Claire - 2023 Exploration Update

Stephen Rentschler, CEO will provide a overview of recently released high-grade drill results from initial 2023 diamond drilling at Bonnie Claire. Significant results include 3076 Li ppm over 1100 ft within a broader 2219 Li ppm over 1740 ft. Bonnie Claire has a current National Instrument 43-101 (“NI 43-101”) inferred mineral resource of 3,407 million tonnes (Mt) grading 1,013 ppm Li for 18.372 million tonnes (Mt) of contained lithium carbonate equivalent (LCE), at a cut-off grade of 700 ppm Li. The PEA for Bonnie Claire indicates a Net Present Value (8%) of $1.5 Billion USD (after tax) using $13,400 USD per tonne LCE and after-tax IRR of 23.8%. With an LCE price of $30,000 USD per tonne, the Net Present Value (8%) of the Project is $5.9 Billion USD (after tax) and an IRR of 60.3%.