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Reporting assumptions

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Ownership basis

Show the full project inventory before ownership adjustment.

Display scale

Display contained quantities in millions of ounces or tonnes.

Resource treatment

Normalise Resources to exclude Reserves: where a project is flagged inclusive, net Reserves out of Resources so the figure is additional Resources beyond Reserves. Unknown-convention rows are shown as stated.

Resource total

Total Resource includes Inferred (JORC convention). Totals are re-derived from category rows wherever the document discloses them.

Recovery basis

Show the issuer's headline recoverable figure as reported. Lithium-brine reserves already have the brine-processing recovery factor applied; everything else is shown as stated.

Commodity view

Primary view: each commodity in its own contained unit (oz / t).

Tonopah Flats Lithium Project

Nevada, United States · Developing · 100.0% ownedUnverified

Current R&R by category

Whole-project rollup at the latest vintage per category: printed project-level rows are preferred, and mining areas are summed (tonnes-weighted grade) only where the issuer prints no project-level row. Per-area and per-source detail in the Current R&R table below.

Category	Tonnes (Mt)	Grade (ppm Li)	Contained (Mt LCE)	As at
Measured	654.08 Mt	702 ppm Li	2.46 Mt LCE	21 Dec 2023
Indicated	2,212.62 Mt	565 ppm Li	6.66 Mt LCE	21 Dec 2023
Inferred	2,658.96 Mt	550 ppm Li	7.77 Mt LCE	21 Dec 2023
Total Resources	5,525.66 Mt	574 ppm Li	16.90 Mt LCE	21 Dec 2023
Proved	—	—	—	—
Probable	—	—	—	—
Total Reserves	—	—	—	—

Cut-off grade

300 ppm Li

Price assumption

—

JORC code year

—

Peer benchmark — developing Li projects (28 with resources)Resource size P98Resource grade P84View on grade-tonnage chart →

Percentile of this project's current total Resource among covered peers (P100 = largest / highest grade). Basis and Inferred toggles apply.

Data quality

Latest source: 10-K: 10-K · 21 Dec 2023
Reporting code: SK-1300
Convention: unknown
Currency assumption: US$

Current R&R

Resources

Category	Tonnes (Mt)	Li		As at	Source	Provenance
Category	Tonnes (Mt)	Grade (ppm Li)	Contained (Mt LCE)	As at	Source	Provenance
Measured	654.08 Mt	702 ppm Li	2.46 Mt LCE	21 Dec 2023	Tonopah Flats – Summary of Lithium Mineral ResourcesUnverified Evidence record Tonopah Flats Lithium Project Measured · Li · as at 2023-12-21 Reported figure Area Whole project Basis 100% Ore tonnes (t) 654080385.0000 Grade 702.0000 Contained (t LCE) 2462662.8622 Classification Resource Source trail 10-K: 10-K Tonopah Flats – Summary of Lithium Mineral Resources Published 2025-09-18 Verification Approved; not independently verified · Model extracted OPS UNIT-FIX (2026-07-09): the 10-K prints SHORT tons ('Total kTons' / 'LI kTons'); tonnes_t and contained_metal_reported converted x0.907185 to metric, contained_metal recomputed = corrected reported (t Li) x 5.324369 (t LCE). Grade (ppm Li, mass ratio) unchanged. The original extraction's 'conflicts with approved history' block referenced the mis-based pct-Li2O rows rejected in the same op (see their notes); the source column label is the table's generic 'Grades/qualities' header - grade column is 'Average ppm LI', per the audit on claude/ops-abat-audit. \| QA FIX (claude-agent-qa, 2026-07-12): LCE re-derived at the issuer-printed factor 5.322785 (was 5.324369) — see PR #144. Copies a pre-filled issue record so you can send it through your normal channel.

Indicated

2,212.62 Mt

565 ppm Li

6.66 Mt LCE

21 Dec 2023

Tonopah Flats – Summary of Lithium Mineral ResourcesUnverified

notes (4)

Source: 10-K: 10-K · published 18 Sept 2025

Ref: Tonopah Flats – Summary of Lithium Mineral Resources

SK-1300 — Reporting code of record: SK-1300
Cutoff 300 ppm Li — Cut-off grade assumption from the source statement.

QA notes:

OPS UNIT-FIX (2026-07-09): the 10-K prints SHORT tons ('Total kTons' / 'LI kTons'); tonnes_t and contained_metal_reported converted x0.907185 to metric, contained_metal recomputed = corrected reported (t Li) x 5.324369 (t LCE). Grade (ppm Li, mass ratio) unchanged. The original extraction's 'conflicts with approved history' block referenced the mis-based pct-Li2O rows rejected in the same op (see their notes); the source column label is the table's generic 'Grades/qualities' header - grade column is 'Average ppm LI', per the audit on claude/ops-abat-audit.
QA FIX (claude-agent-qa, 2026-07-12): LCE re-derived at the issuer-printed factor 5.322785 (was 5.324369) — see PR #144.

Inferred

2,658.96 Mt

550 ppm Li

7.77 Mt LCE