Ann: Colina Prospect - Positive Metallurgical Test Work Results, page-35

FYI Sigma's Preliminary Economic Assessment report (Technical Report) can be found at the link below (Search for Sigma and then scroll down to the technical report dated August 4 of this year).

https://www.sedar.com/search/search_form_pc_en.htm

We recently announced commencement of work to complete our own PEA for Salinas, with a forecast completion date towards end of Q1 2023 I believe.

In relation to Sigma's metalurgical results (from the PEA), see the excerpt below (which seems to indicate that base on our first round of testing, our potential Li2O concentrate and recoveries are equivalent or slightly better than Sigma's (but keep in mind we have only performed one round of testing, and that can only offer a certain level of confidence and obviously the amount of potential confidence in testing results increases over time as more test work is performed).

"Two sets of HLS tests were undertaken. The first set was conducted using the Composite to test optimal crush size (i.e., top size of 15.9 mm, 12.5 mm, 10.0 mm, and 6.3 mm). HLS tests were then performed on each variability sample at the optimum crush size. The fine fraction (i.e., -0.5 mm) was screened out from each subsample and the oversize fraction was submitted for HLS testing. A crush size of -10 mm was determined to be
optimal and variability HLS testing was undertaken at this crush size. Interpolated stage recoveries (6% Li2O concentrate)for the four variability samples ranged from 56.0% to 77.3%."