NeoMetals EGM presentation8 Jun 2026 22:21
Page 14 onwards
Strategic Rationale and Investment Thesis
• Strategic entry into a known lithium-potassium basin in the USA. Utah is a stable and supportive jurisdiction for mining investment;
• Leverages 23+ existing wells, infrastructure and sub-surface data to accelerate exploration and lower the cost of rapidly advancing technical evaluation;
• Direct lithium extraction (DLE) validated on Paradox brines, enabling processing of lower-grade lithium brines through selective recovery1;
• NMT has deep lithium brine processing expertise developed through its 70% owned, patented ELi Process , having the potential to deliver low costs from purification and electrolysis of lithium chloride recovered from DLE;
• Tenure proximate: 1) to existing HV powerlines with industrial power tariffs of 2.7- 6 US c/kWh (Rocky Mountain Power – Electric Service Schedule No.8 July 2025) and, 2) the
Lisbon Natural Gas Plant majority owned by AHL;
• Aligns with the US critical minerals strategy, with potential eligibility for FAST-41 coordinated federal permitting and access to federal funding programs (DOE Clean Energy Financing Program, DOD Defence Production Act, USDA Fertilizer Production Expansion Program);
• The US presently imports >90% of their domestic potash demand, underscoring the strategic importance of domestic supply and potential for government funding.
Exploration Target (JORC 2012)1
April 2026: The number that sets the scale of this opportunity
Exploration Target for potash and lithium brine across 84,020-acre project locality — the first formal statement of potential dual-mineral project scale.
• Ranges from 94 to 325 Mt of Muriate of Potash (MOP), and
• 1.9 to 6.5 Mt of contained LCE (Lithium Carbonate Equivalent).
CAUTIONARY STATEMENT - EXPLORATION TARGET
The Competent Person cautions that the potential quantity and grade of the Exploration Target are conceptual in nature and insufficiently defined and that lithium exploration has been undertaken to support estimation of a Mineral Resource for the Utah Brine Project and that there is no certainty that future exploration will result in the estimation of a Mineral Resource.
The Competent Person further cautions that exploration data relied on for this Exploration Target is based on activity undertaken by previous historical operations and have not or may not have been previously reported under the JORC Code ⁽ ²⁴ ⁾⁽ ²⁵ ⁾ or any of its amendments and the Competent Person considers that these data are indicative and not definitive.
• Based on historic well data across approx. 84,020 acres in the locality plus subsurface geological model calibrated to adjacent Paradox Basin results;
• Applies to both lithium and potash brine volumes – first dual- commodity Exploration Target on this project locality ;
• Triggers Met Test work (Q3 2026) and Mineral Resource Estimate program (Q4 2026/Q1 2027 to support Scoping Study (Q2 2027);
• Next Step: Bulk brine sampling Q3 2026 from key wells.
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