Formentera

• Formentera has 200m deep high porosity zone aquifer (11.74% average specific yield!) with high lithium concentrations (1,122ppm Li 2m below surface. 580ppm Li at 400m well JAM24-01). Lithium concentration increases with depth to 580ppm Li. • MRE encompasses 4 holes of initial drilling program, with JAM 25-05 and JAM 26-06 to be added. • Geophysics –outstanding low resistivity provides bullseye drill targets - Extends to 1,000m+ depth below 3.0 ohm.m

551,400 Tonnes of Lithium Carbonate Equivalent (LCE) in the Indicated and Inferred Resource Categories.