Warmbad Lithium Project

The Warmbad Lithium Project covers 605 km² is located in southern Namibia near the South African border in an area of historic small-scale pegmatite mining known as the Tantalite Valley. The Tantalite Valley pegmatites have been mined since about 1946 for beryl, columbite-tantalite, lithium and bismuth minerals. Mining has been re-activated by Kennedy Ventures Plc (now Kazera Global plc) who control African Tantatite (Pty) Ltd. and are producing concentrates of >40% Ta2O5 being sold into global markets. Initial production of 20 metric tonnes concentrate per annum is ramping up to 120 metric tonnes concentrate per annum. A potential lithium resource is being assessed following the sampling of lepidolite bearing pegmatites grading >1.6% Li2O. The mineralization hosted on the Kazera Global property is not necessarily indicative of the mineralization hosted on the Warmbad Lithium Project.

The Warmbad EPL hosts three pegmatite occurrences of undetermined extent from government maps. There are no records of any systematic exploration over the EPL. The area has recently been mapped by the Geological Survey of Namibia and the Council of Geosciences (South Africa) which has provided updated geological information. A key result of the mapping campaign is the delineation of previously unknown extensive pegmatite swarms of up to 13 km strike length. None of these pegmatites has ever been sampled and assayed. This new data will be utilized to undertake systematic sampling of the pegmatites.