Overview

Joint development agreement with Erin Ventures (TSX.V – EV)

The Piskanja Boron Project is located in a historical mining region which has excellent infrastructure including paved roads, rail, electric power, experienced miners, access to seaport and river transportation and is 250km south of the capital city of Belgrade.

Advantages

  • World Class High Grade Boron
  • Mining Friendly Jurisdiction
  • Goal to rapidly advance to production
  • NI 43-101 compliant mineral resource of 7.8 million indicated tonnes ( 31.0% B2O3), in addition to 3.4 million inferred tonnes (28.6% B2O3)

Mineral Resource

Tonnage, Mt

B2O3, Grade, %

Contained B2O3Mt

Indicated

7.8

31.0

2.4

Inferred

3.4

28.6

1.0

  • 12% B2O3 cut-off used. Calculated in accordance with the Canadian Institute of Mining Definition Standards on Mineral Resources and Reserves (“CIM Standards”) as disclosed in Erin Ventures’ report titled “Mineral Resource Estimate Update on the Piskanja Borate Project, Serbia, October 2016 – Amended February 28, 2019” prepared by SRK Consulting (UK) Ltd. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The responsible persons for the Updated Mineral Resource Estimate are Dr. Mike Armitage (C.Eng., C.Geol.) and Dr. Mikhail Tsypukov who are both full time employees of SRK and Qualified Persons in accordance with the CIM Standards, both gentlemen are independent of Erin Ventures.

Overview of Boron

There are three mega trends driving boron consumption:

  1. Urbanization
  2. Agriculture
  3. Energy

Demand for Boron

URBANIZATION

  • By 2025, China will have 221 cities with over 1 million people
  • Boron is heavily used in cities and buildings in applications such as:
    • Glazed ceramics
    • LCD televisions
    • Electronics & Appliances
    • Textile & Fiberglass

AGRICULTURE

  • Boron helps regulate the reproductive cycle of plants
  • It is needed to help maximize food production for a growing population
  • In India, the use of boron and other micronutrients is being supported by government projects and subsidies to ensure that farmers increase productivity

ENERGY

  • Boron is used in energy saving applications such as insulation
  • This will be key as green building practices are encouraged throughout the world
  • Borates are also used to create the high-powered magnets in applications like wind turbines, making them even more important for a green future