Minas Gerais Lithium Project

Flagship hard-rock lithium project and the company's most material property, comprising 85 mineral rights totaling approximately 468 km2 in northeastern Minas Gerais, Brazil, along the Eastern Brazilian Pegmatite Province. The focus is the Neves Project, where four confirmed spodumene-bearing pegmatite bodies (Anitta 1-4) and six additional exploration targets have been delineated by geological mapping and soil geochemistry. The company aims to produce lithium (spodumene) concentrate for the battery supply chain via a modular dense media separation (DMS) plant, manufactured in South Africa and designed to produce approximately 150,000 tonnes per annum of lithium concentrate. The Neves Project received its operating license in October 2024, and in August 2025 the Minas Gerais permitting agency issued a technical report recommending approval. No Regulation S-K 1300 mineral resource is reported; work remains at the exploration-target and development stage.