Key Investment Highlights Phoenix has agreed terms on ~3,000 acres situated in East Brawley within the Imperial Valley that contains three deep geothermal exploratory wells which were drilled in 1978. Clean Energy & Direct Lithium Extraction in the single largest lithium brine resource in the United States. Detailed discussions to acquire rights at two other strategic land packages in the Salton Sea area. The California Energy Commission estimates the area could produce 600,000 tons of lithium carbonate annually, worth $7.2 billion. Low geopolitical risk - lithium was identified by the US government as one of the minerals “critical to the US national economy and national security”. The US currently imports 70+% of its needs. ESG - Clean and green operating process - no open pit mining, evaporation ponds and their ensuing environmental issues. East Brawley Lithium Project: Approximately 3,000 acres of surface and mineral rights secured. ~US$50M in pre-existing well field infrastructure saving time and money. Lithium extracted 509 ppm, double the Lithium concentrations across the region.
