Ann: Globally significant MRE of 59MT at Adina Lithium Project, page-271

I managed to read through the crap on here today; Most of it is illogical and factually incorrect.

Some clarity for those interested.

1340m used for MRE

Diagram below identifies the following not included in MRE

Allowing for inferred metrics, the red rectangle is 875m in strike.

FW extension appear in model above, clearly modelling has identified the continuation.

In essence we have 58.5mt from 27,000m of drilling with a defined eastern portion and Footwall portion to be added.

Grade and Mining;

This is an inferred deposit. It will get better. Anyone harping on about 1.12% needs there head read. The closer the holes get, the greater the quality can be inputed into the system. LRS started at 1.2% and have increased to 1.37%

But lets get to the nuts of it.

Mining.

The vertical black lines are AZM claims.

There are nil/zip no issues in mining at 45degrees,

The black rectangles are high grade, above 1.5%, for approximately 30MT

But, you know let the pork chops focus on 1.12% that will clearly get better. This is what I focus on;

30mt @ 1.5% beginning at surface, then some waste, them more high grade. All DMS amenable.

Lets say we start in 2027 with a 1.5mpta plants for 2 years, then 6years at 4mtpa – 30mt @1.5% processed will low opex and capex, by that time Adina is 200mt…But yeah focus on 1.12%, most of which is 300m below ground near the AZM border.

Simplicity to mine.

Find me a mine manager who would prefer Adina over LRS and PMT? Yes this is correct. And no I wont put PMT on it because no one, NOT BLOODY MINE MANAGER EVER will say they would rather deal with water/lake/dam/rivers that an at surface deposit.

Moving forward

Roads. OMG, I think CE mentioned there were 4x grants available for road south of Adina. Already approved, funding just required. Let me pose a question to all of you. PMT and Wr1 will have 300mt by 2026. Do they drive 3000klm around James Bay, or do the two biggest lithium mines in North America have the Canadian Government pay for a solution that suits both.

Tonnage.

Ill provide some states in the next few days,

58.5mt for 27k of drilling – Find me a better initial MRE apart from Patriot.

2.11mt per 1000m of drilling – Find me a better rate of return for a jorc compliant project.