Clayton Ridge Project

The Project is located in western-central Nevada in Esmerelda County’s Clayton Valley, approximately 30 miles south west of Tonopah, Nevada. The property borders several mining claims owned by Cypress Corporation, Noram Minerals, and Albemarle Corporation. Access to the property is by means of paved roads.

The project has a significant JORC compliant resource of 422,555 metric tons of lithium or 2,248,838 metric tons of lithium carbonate formula (Li2CO3) which will support a projected mine life of 40+yrs. To date, the company has only drilled a small portion of its tenements with the potential to significantly extend the resource.

Positioned in a low-tax, established mining jurisdiction, the project consists of a proposed mining operation, including a mine, processing site and supporting infrastructure.

Authium - Project Map (Small Detailed) 2

Resource Overview

929

Unpatented Mining Claims
Authium’s property consists of over 729 Lithium lode claims. In their entirety, the claims occupy nearly 15,000 acres. The total Measured and Indicated lithium resource above 500 ppm is estimated to be 422,555 metric tons of lithium or 2,248,838 metric tons of lithium carbonate formula (Li2CO3), as shown in Table below.
The deposit is shallow and contiguous in shape resulting in a low strip ratio and mining which can be easily handled by conventional mining equipment.
Considerable work had been conducted to substantiate the commercial viability of the resource. The total thickness of the lithium mineralized claystone averages 330 feet at depth with an average grade delivered to the ROM of 1000+ (ppm).

Resource Estimate

* The Resource Estimations were prepared in accordance with the National Instrument 43-101 for the Standards of Disclosure for Mineral Projects requirements and in accordance with the guidelines of the Australian Joint Ore Reserves Committee (JORC) Code 2012.

Project Highlights

Direct extraction and LCE production on site
Production of 24,000tpa LCE (Hydroxide potential) at site located within major consumption zone. De-risk from converters.
Large potential resource
Over 2mt LCE Resource with potential for increase based on positive geophysics. Small portion of total claims drilled.
Potential to engineer low carbon mine
Engineering design to focus on minimising the carbon footprint of mine and processing plant.
2022/23 Milestones
Post IPO – PFS Completion followed by DFS, Pilot Plant and Permitting

Advantages of Authium’s Clay Deposit/Process

Direct extraction and conversion on site delivers reliable and consistent production
Shallow resource, less environmental impact compared to Hard Rock resources
Not dependent on climate to process
Short processing duration
Downstream operators in close proximity

Focus on Minimising Impact

Authium is focused on minimising its impact on the environment and will strive to produce LCE on a Net Zero basis

Authium is designing its process to be carbon neutral
The mine site will incorporate the use of electric vehicles / mining fleet where possible as well as renewable power and recycling
Authium’s process has significant reagent recycle streams designed into it, which reduces water, acid and power consumption