"With Prospect’s ability to nearly double its petalite recovery,...

"With Prospect’s ability to nearly double its petalite recovery, our operating cost per tonne of petalite
and spodumene is expected to drop. Further work is required to quantify this saving. If we apply the
expected tantalum credit and the premium priced petalite credit against the cost of spodumene
production, then we can confidently aim to be the lowest cost spodumene producer in the world.”

“The results from the testwork demonstrate the strength of the Arcadia Lithium Mine in being able to
produce three products:

1. 6% Li2O low iron spodumene;
2. >4.3% Li2O ultra-low iron petalite; and
3. Tantalum concentrate.

We believe that Arcadia is unique in having the only JORC compliant lithium pegmatite in the world
able to produce these three products. The team will now focus on understanding the increase in
economics; subsequent increase in revenue, upgrade to the ore reserve, and a potential increase in our
mine life.”