IXR - Paydirt Interview 12/01, page-2

11 Jan 2021- Paydirt interview

Highlights of vid

·Ionic clays are basically the engine room of the critical RE coming out of China

·They have been depleted through overmining and illegal operations

·New deposits will only become more important and effectively become the new sources going forward

·With IXR’s new exploration licenses there is sufficient scale now for them to consider a much larger scope for the project

·Compared to other deposits ionic absorption clays:

oTypically produce a higher quality product and provide operators with higher margins

oLess complex than RE mineral concentrate

oSee chart for details

·Makuutu will be making a mixed RE carbonate

·Future of company

oJust completed about 4000m of drilling

§Next two to three weeks will have the remaining assays

oAnticipating a material upgrade

oInitial resource that the project has (see chart) was derived from about 900m of drilling

oBringing in another 3700m of drilling, and that gives an idea of the potential scare of the upgrade they are looking at

oThe initial drill program covered an area of around 5km2

oThe drill program they recently completed covered an area of 16km2

oHopefully will have the results in the first quarter of this year

·They are moving pretty quickly due to the “simplicity” of the project

·The local area has enough infrastructure for them to operate

·The company is going from exploration to development