It is true that Newpeak-Dark Horse has given up lithium in...

It is true that Newpeak-Dark Horse has given up lithium in Argentina.
It appears not to be totally because of different province jurisdictions.

I can't imagine that something like, what is reviewed bellow,
would be acceptable by a Western European or US stock market.

This appears to be because of problems with authorities in Central Argentine Spodumene Lithium Project
first reported 18 October 2019, and project was ended Jan 30th 2020
The government situation in San Luis province has not changed over the past 24 months and theCompany awaits the San Luis Mining Authority to issue permits for drilling. Because of these long delays, the Company has prudently decided to cease spending shareholders’funds on this project at this point. Dark Horse will remain at its current 25% equity in Pampa Litio SA,which holds all interests in the Central Argentina Lithium Projects.

The San Jorge project was said to be ended because of problems in "technical due diligence". These
Dark Horse-New Peak pretended that everything was fine with it just in due diligence until Jan 28th 2020
and waiting for two out of 15 leases and then dumped it Jan 30th 2020:
Was there proper transparency of the problems?
Selling of other jurisdictions started "with opportunities under consideration
in the Americas and Europe, targeting precious and critical metals in high demand,
including Gold, Tungsten and Nickel." Gold and tungsten refers apparently to the Sotkamo deal

Possibly the dumping of lithium should have been anticipated from Annual report 27/09/19
Progress at the Company’s suite of lithium projects has been delayed by issues with governmental permitting (San Luis) and the
vendor’s completion of title transfers (San Jorge). The Board is mindful of the current state of the global lithium market, and will
take a cautious approach to the future deployment of exploration funds in this regard.

Did they know that lithium will be dumped in September 2019 or earlier,
but kept the projects to keep up the appearance large portfolio? Apparently alternatives were looked for well before


There were very "forward looking" positions with gold timetables
or there have been substantial problems with the gold projects

28 January 2020
https://hotcopper.com.au/threads/ann-argentinean-gold-project-update-further-high-grade-results.5191576/
Going Forward
The analytical results from the Cachi and Las Opeñas programs have taken longer than expected to be
received and evaluated, princiapally due to the end of year slowdown in Argentina. Dark Horse is currently
working through a number of potential funding opportunities to allow the drilling to commence at the
Argentina Gold projects and expects to inform the market of these developments shortly.

San Jorge Lithium Brine Project
A group of 15 contiguous Exploration Licences totalling 36,600 hectares over the San Francisco salar and basin in
Catamarca province. The nucleus of the salar is 7,000 hectares in an area with elevated lithium concentrations e.g.
Hombre Muerto, Maricunga. Completion of this project acquisition deal is currently subject to the
finalization of due diligence.

Central Argentina Lithium Spodumene Project (25% interest)
DHR discovered and on 5 March 2018 reported superior assay results of Li2O from individual representative
surface samples up to 2.3% Li2O (commercially significant deposits are above 1%). A potential lithium
spodumene province.
The primary objectives of these projects are to:
 Discover and define several multi‐million ounce gold deposits.
 Define substantial lithium resources, mine spodumene and brine, and produce high grade lithium
products for the domestic and international battery and electronic markets.


Project and Corporate Update
Disposal of Lithium Projects 30 January 2020
https://hotcopper.com.au/threads/ann-corporate-and-project-update.5197075/

As previously announced towards the end of 2019, Dark Horse decided not to increase its
participation in Lithium Spodumene company Pampa Litio SA above 25%, largely because of the
reticence of the provincial government to allow advancement of the Company’s exploration and
development plans.
The technical due diligence of the final leases of the San Jorge Lithium Brine project shows no
certainty of concluding in the short to medium term. The Company has shown patience in this
matter over the past 18 months without suitable reward or success.
After continued stagnation of the Company’s Argentine Lithium assets over the past several years,
without the expected near‐term success, the Board of Dark Horse has decided to dispose of its
Lithium assets and refocus its business principally on precious metals.

Dark Horse intends to utilise its core management strengths to continue to seek out relevant
opportunities for the realisation of shareholder value. In this regard, the Company will seek to
complement its Argentine Gold Projects with opportunities under consideration in the Americas
and Europe, targeting precious and critical metals in high demand, including Gold, Tungsten and
Nickel. Several suites of properties have been identified that have suitable geology to allow the
definition of commercial‐scale resources. These properties are in jurisdictions where a number of
major companies have an aggressive exploration presence.


Earlier releases about lithium and gold
Release 19 February 2019

Objectives and Strategy
The Company continues to explore its current large suite of lithium and gold projects in Argentina and
to review new project opportunities presented to it via various business and industry connections.
Dark Horse’s primary objectives are to:
 define substantial lithium resources, mine spodumene and brine, and produce high grade lithium
products for the domestic and international battery and electronic markets; and
 discover and define several multimillion‐ounce gold deposits.

"The Company is considering a change of name to Andean International Limited to more accurately
reflect its broader Argentinean focus."

Las Opeñas Gold Project
on.
 Negotiations are underway in finalising a drilling contract.
 Initial program consists of 6 inclined reverse circulation drillholes to depths of 50 metres.
 Holes are targeted to intersect high grade gold and silver epithermal veins discovered during
surface mapping and sampling by previous workers Teck and Genesis, who did not drill, but
focussed their work on the adjacent breccia dome target.
 Additional drilling will be carried out depending on the results of these initial holes.
 Drilling is expected to commence in March 2019

Cachi and Rosita Norte Gold Projects
 Drill targets have been identified at Cachi to intersect the high‐grade gold veins at near surface.
The magnetic geophysics results will be combined with previous geophysical data to assist in
planning for deeper drillholes.
 Environmental permitting has commenced for the Cachi drilling program, planned for spring 2019
(September).



Release Date: 30/04/19 16:35

https://hotcopper.com.au/threads/ann-quarterly-activities-report.4738273/

 Due diligence on the San Jorge Lithium Brine Project has been
extended with vendor agreement to allow the vendor sufficient
time to finalise his administrative matters in Catamarca. Deal
conclusion is expected during the next quarter.
 Payments to the Pampa Litio vendors have been halted whilst the
parties await the San Luis Mining Authority to issue permits for
drilling.

A. Argentinean Gold Projects
Dark Horse has a large portfolio of gold properties in the Santa Cruz, Rio Negro and San Juan provinces
of Argentina (refer Figure 1). Across these properties the Company is continuing surface exploration
and drilling programs. These projects include:
 The Cachi project in Santa Cruz where recent exploration has proved some high potential gold
bearing epithermal vein systems;
 The Las Opeñas Gold Project in the San Juan province where drilling has commenced;
 A large suite of other properties throughout Santa Cruz province, providing high grade gold and
silver values; and


Lithium presentation 22.7.2019
https://hotcopper.com.au/threads/ann-corporate-presentation-argentinean-lithium.4805779/




-Location between Maricunga (Chile), 3Q ,
Anatofalla and Hombre Muerto.
-Catamarca supportive of exploration and
mining ‐ FMC, Galaxy, Posco and Albemarle.


Annual report 27/09/19
https://hotcopper.com.au/threads/ann-annual-report-to-shareholders.4979186/

Progress at the Company’s suite of lithium projects has been delayed by issues with governmental permitting (San Luis) and the
vendor’s completion of title transfers (San Jorge). The Board is mindful of the current state of the global lithium market, and will
take a cautious approach to the future deployment of exploration funds in this regard.

Central Argentina Lithium Spodumene Projects
The government situation in San Luis province has not materially changed since the 2018 Operations Report and the Company
awaits the San Luis Mining Authority to issue permits for drilling. Additionally, we understand the government is considering
establishing an updated mining code as per other Argentine provinces. There were recent provincial government elections for
which the incumbent Governor was re-elected. We are actively seeking information on the status of these matters so that Dark
Horse can recommence its exploration activities.
Initial drill targets have been identified at the San Luis Mine pegmatite sequence within the El Totoral exploration lease, which
shows abundant spodumene throughout.

San Jorge Lithium Brine Project
Dark Horse entered into an exclusivity agreement for the option to acquire up to 100% of the San Jorge Project in Catamarca
province through a series of staged payments and annual exploration commitments. Dark Horse is carrying out the legal due
diligence on the San Jorge Project and is finalising the Definitive Agreement with the vendor. Thirteen (13) exploration licences of
the total 15 have been successfully certified, and the remaining two require some additional time for the vendor to complete
administrative matters. The parties have agreed to an extension to the due diligence period to allow sufficient time for this to
occur.

The San Jorge Project is a group of 15 Exploration Licences in Catamarca province, Argentina covering an area of 36,600 hectares
over the San Francisco salt lake basin (Figure 12). The nucleus of the salar (San Francisco) is approximately 7,000 hectares in area
and the project leases covers all of it except a small section in the north (Photo 1).
The design of the initial exploration program is completed, which will consist of shallow brine fluid sampling to test the near surface
lithium content and geophysics to determine the basin size, depth, structure and potential brine zones.
This work will commence immediately following deal conclusion and will provide data to allow the design of a sub-surface drilling
program to test the lithium grades and hydrology at depth, and subsequently lithium resources. Dark Horse expects to be able to
commence this work during the next quarter.


Corporate and Project Update 18 October 2019

 Preliminary drilling in March‐April 2019 confirmed mineralisation at depth with drillhole LORC‐19‐13
providing 1 metre at 4.8 g/t Gold, 349 g/t Silver from 23m, and LORC‐19‐11 providing 3 meters of 4.75
g/t Gold, 54.9 g/t Silver from 101m (refer ASX release of 27 May 2019).
 The next phase of drilling will commence late 2019 ‐ early 2020 following completion of the current
surface geological exploration, which will move the project towards resource definition.

Cachi Gold Project
Drill targets have been identified at Cachi to intersect the high‐grade gold veins at near surface and the
drilling program is planned to commence in early 2020.

San Jorge Lithium Brine Project
Due diligence on the San Jorge Project is nearing completion with deal conclusion expected late 2019.
Two of fifteen licences remain outstanding for legal clearance.
 Design of the initial exploration program has been finalised, which will consist of shallow brine fluid
sampling to test the near surface lithium content and geophysics to determine the basin size, depth,
structure and potential brine zones.
 This work will commence following deal conclusion, and will provide data to allow the design of a sub‐
surface drilling program to test the lithium grades and hydrology at depth, and subsequently lithium
resources.

Central Argentine Spodumene Lithium Project
The government situation in San Luis province has not changed over the past 24 months and the
Company awaits the San Luis Mining Authority to issue permits for drilling.
 Because of these long delays, the Company has prudently decided to cease spending shareholders’
funds on this project at this point. Dark Horse will remain at its current 25% equity in Pampa Litio SA,
which holds all interests in the Central Argentina Lithium Projects. Under the Exploration Agreement
with Option‐to‐Purchase with the vendors of Pampa Litio SA, the Company will not proceed to acquire
further equity under the terms announced in ASX releases 26 July 2016 and 5 October 2016.

Regards
Nordic