# EDGAR Filing Document

**Accession Number:** 0001699880
**File Stem:** 0001171843-23-000506
**Filing Date:** 2023-1
**Character Count:** 229489
**Document Hash:** a94c7f0c2b0f27b21166cfb316ca9998
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001171843-23-000506.hdr.sgml**: 20230126

**ACCESSION NUMBER**: 0001171843-23-000506

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 28

**CONFORMED PERIOD OF REPORT**: 20230126

**FILED AS OF DATE**: 20230126

**DATE AS OF CHANGE**: 20230126

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** American Lithium Corp.
- **CENTRAL INDEX KEY:** 0001699880
- **STANDARD INDUSTRIAL CLASSIFICATION:** METAL MINING [1000]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** A1
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41579
- **FILM NUMBER:** 23556919

**BUSINESS ADDRESS:**
- **STREET 1:** 2000-1177 WEST HASTINGS STREET
- **CITY:** VANCOUVER
- **STATE:** A1
- **ZIP:** V6E 2K3
- **BUSINESS PHONE:** 778-379-4555

**MAIL ADDRESS:**
- **STREET 1:** 2000-1177 WEST HASTINGS STREET
- **CITY:** VANCOUVER
- **STATE:** A1
- **ZIP:** V6E 2K3

**UNITED STATES<br> SECURITIES AND EXCHANGE COMMISSION<br> Washington, D.C. 20549<br>FORM 6-K<br>REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934**

**For the month of January 2023**

<br> Commission File Number: **001-41579**

**American Lithium Corp.**<br> (Translation of registrant's name into English)

**1030 West Georgia St., Suite 710<br> Vancouver, BC<br> Canada V6E 2Y3**

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☐ Form 40-F ☒

#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | |
|:---|:---|
| Date: January 26, 2023 | **<u>American Lithium Corp.</u>**<br> (Registrant)<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*<u>/s/ Simon Clarke</u>* <br> Simon Clarke<br> Chief Executive Officer & Director<br>|

---

**<u>Exhibit Index</u>**

---

| | |
|:---|:---|
| **<u>Exhibit Number</u>** | **<u>Description</u>** |
| [99.1](exh_991.htm) | [Technical Report TLC Property, Nye County, Nevada, USA dated January 16, 2023 with an effective date of October 6, 2022](exh_991.htm) |

---

## Exhibit 99.1

**Exhibit 99.1**

---

| | |
|:---|:---|
| ![](stan_logo.jpg) | ![](stan_logo.jpg) |
| <br>**Technical Report**<br> **TLC Property**<br> **Nye County, Nevada, USA** | <br>**Technical Report**<br> **TLC Property**<br> **Nye County, Nevada, USA** |
| Submitted to:<br> [Company] | Submitted to:<br> [Company] |
| Report Date:<br>| Effective Date: |
| January 16, 2023 | October 6, 2022 |
| Stantec Consulting Services Inc.<br> 2890 East Cottonwood Parkway Suite 300,<br> Salt Lake City UT 84121-7283 <br> Tel: (801) 617-3200 | Stantec Consulting Services Inc.<br> 2890 East Cottonwood Parkway Suite 300,<br> Salt Lake City UT 84121-7283 <br> Tel: (801) 617-3200 |
| **Authors:**<br> **Derek Loveday, P. Geo.**<br> **Joan Kester, P. Geo** | **Authors:**<br> **Derek Loveday, P. Geo.**<br> **Joan Kester, P. Geo** |
| <br> Project No. 233001584 | <br> Project No. 233001584 |

---

**TECHNICAL REPORT – TLC Property, Nevada, USA**

**Important Notice**

This notice is an integral component of the Tonopah Lithium Claims Technical Report ("Technical Report" or "Report") and should be read in its entirety and must accompany every copy made of the Technical Report. The Technical Report has been prepared in accordance with the requirements of National Instrument 43-101 Standards of Disclosure for Mineral Projects.

The Technical Report has been prepared for American Lithium Corporation by Stantec Consulting Services Inc. (Stantec). The Technical Report is based on information and data supplied to Stantec by American Lithium Corporation. The quality of information, conclusions, and estimates contained herein are consistent with the level of effort involved in the services of Stantec, based on i) information available at the time of preparation of the Report, and ii) the assumptions, conditions, and qualifications set forth in this Report.

Each portion of the Technical Report is intended for use by American Lithium Corporation subject to the terms and conditions of its contract (November 22, 2021) with Stantec. Except for the purposes legislated under Canadian provincial and territorial securities law, any other uses of the Technical Report, by any third party, is at that party's sole risk.

The Qualified Person has used their experience and industry expertise to produce this Technical Report. Readers are cautioned that the results of the Technical Report include forward-looking information. The factors and assumptions used to develop the forward-looking information, and the risks that could cause the actual results to differ materially, are presented in the body of this Report.

**TECHNICAL REPORT – TLC Property, Nevada, USA**

**CERTIFICATE OF QUALIFICATIONS**

I, Derek J. Loveday, P.Geo., do hereby certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. I am currently employed as a Project Manager by Stantec Services Inc., 2890 East Cottonwood Parkway Suite
300, Salt Lake City UT 84121-7283.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. I graduated with a Bachelor of Science Honors Degree in Geology from Rhodes University, Grahamstown, South
Africa in 1992.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. I am a licensed Professional Geoscientist in the Province of Alberta, Canada, #159394. I am registered
with the South African Council for Natural Scientific Professions (SACNASP) as a Geological Scientist #400022/03.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. I have worked as a geologist for a total of thirty years since my graduation from university, both for mining
and exploration companies and as a consultant specializing in resource evaluation for precious metals and industrial minerals. I have
many years' experience exploring and modelling stratiform sediment-hosted industrial mineral deposits in the western United States
and Australia of naturally low-concentration elements including potassium (potash), uranium and lithium. I have worked on two other lithium
claystone projects in the vicinity of Tonopah, Nevada.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. I have read the definition of "qualified person" set out in National Instrument 43-101 (NI
43-101) and certify that by reason of my education, affiliation with a professional association (as defined in NI 43-101), and past relevant
work experience, I meet the requirements to be a "Qualified Person" for the purposes of NI 43-101.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. I am responsible for preparation of Section 13 and 14 and portions of Sections
1 through 12 and Portions Sections 15 through 27, of this Technical Report titled "Technical
Report TLC Property, Nye County, Nevada, USA" (the "Technical Report") dated January 16, 2023, Effective Date October
6, 2022.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. I have read NI 43-101 and Form 43-101F1, and the Technical Report has been prepared in compliance with
that instrument and form.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. I personally inspected the property on February 3, 2020 and again in December 16<sup>th</sup> and 17<sup>th</sup>,
2021. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. I was the author of the properties previous Technical Report titled "Technical Report TLC Property,
Nye County, Nevada, USA" (the "Technical Report") dated October 21, 2021, Effective Date April 15, 2020.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. At the effective date of the Technical Report, to the best of my knowledge, information, and belief, the
Technical Report contains all scientific and technical information that is required to be disclosed to make the Technical Report not misleading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. I am not aware of any material fact or material change with respect to the subject matter of the Technical
Report that is not reflected in the Report, the omission to disclose which makes the Report misleading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. I am independent of the issuer applying all of the tests in Part 1.5 of NI 43-101CP.

---

| | |
|:---|:---|
|  | **"Original Signed and Sealed By Author"** |
| Dated January 16, 2023 | Derek J. Loveday, P.Geo. |
|  | Project Manager |

---

---

| | |
|:---|:---|
| ![](foot_logo.jpg) | TOC-1 |

---

**TECHNICAL REPORT – TLC Property, Nevada, USA**

**CERTIFICATE OF QUALIFICATIONS**

I, Joan C. Kester, P.Geo., do hereby certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. I am currently employed as a Resource Geologist by Stantec Services Inc., 2890 East Cottonwood Parkway
Suite 300, Salt Lake City UT 84121-7283.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. I graduated with a Master of Science Degree in Geology from the University of Louisiana at Lafayette,
Lafayette, Louisiana in 2004.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. I am a registered Society for Mining, Metallurgy & Exploration (SME) member #04294447 and a licensed
Professional Geologist in the State of Utah #6695640-2250 and Wyoming #PG-4063 USA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. I have worked as a geologist for a total of sixteen years since my graduation from university, both for
geotechnical, environmental, and mining consultant companies specializing in quality control, water resources, and resource evaluation
for industrial minerals. I have years of experience with many types of drilling, well installation, GIS mapping of active and inactive
mining operations and detailed sampling efforts in addition to recent modelling of stratiform sediment-hosted industrial mineral deposits
in the western United States

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. I have read the definition of "qualified person" set out in National Instrument 43-101 (NI
43-101) and certify that by reason of my education, affiliation with a professional association (as defined in NI 43-101), and past relevant
work experience, I meet the requirements to be a "Qualified Person" for the purposes of NI 43-101.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. I am responsible for preparation of portions of Sections 1 to 12 and portions of Sections 14 to 27 of
the Technical Report titled "Technical Report TLC Property, Nye County, Nevada, USA" (the "Technical Report")
dated January 16, 2023, Effective Date October 6, 2022.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. I have read NI 43-101 and Form 43-101F1, and the Technical Report has been prepared in compliance with
that instrument and form.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. I personally inspected the property and sample storage facilities on July 20<sup>th</sup> and 21<sup>st</sup>,
2022. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. I have not had any prior involvement with the property that is the subject of this Technical Report.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. At the effective date of the Technical Report, to the best of my knowledge, information, and belief, the
Technical Report contains all scientific and technical information that is required to be disclosed to make the Technical Report not misleading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. I am not aware of any material fact or material change with respect to the subject matter of the Technical
Report that is not reflected in the Report, the omission to disclose which makes the Report misleading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. I am independent of the issuer applying all of the tests in Part 1.5 of NI 43-101CP.

---

| | |
|:---|:---|
|  | "**Original Signed and Sealed By Author**" |
| Dated January 16, 2023 | Joan C. Kester, P.Geo. |
|  | Resource Geologist |

---

---

| | |
|:---|:---|
| ![](foot_logo.jpg) | TOC-2 |

---

**TECHNICAL REPORT – TLC Property, Nevada, USA**

#### **Table of Contents**

---

| | |
|:---|:---|
| **1 SUMMARY** | **[1-1](#p1-1)** |
| **2 INTRODUCTION** | **[2-1](#p2-1)** |
| **3 RELIANCE ON OTHER EXPERTS** | **[3-1](#p3-1)** |
| **4 PROPERTY DESCRIPTION AND LOCATION** | **[4-1](#p4-1)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 Description and Location | [4-1](#p4-1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 Property Concessions | [4-1](#p4-1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 Option Agreements, Royalties and Encumbrances | [4-5](#p4-5) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4 Permits, Surface Use and Royalties | [4-22](#p4-22) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5 Environmental Liabilities | [4-22](#p4-22) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6 Other Significant Factors and Risks | [4-22](#p4-22) |
| **5 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY** | **[5-1](#p5-1)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 Accessibility | [5-1](#p5-1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 Climate | [5-1](#p5-1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3 Local Resources and infrastructure | [5-1](#p5-1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4 Physiography | [5-2](#p5-2) |
| **6 HISTORY** | **[6-1](#p6-1)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 Exploration | [6-1](#p6-1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2 Historical Estimates | [6-3](#p6-3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3 Metallurgical Testing | [6-4](#p6-4) |
| **7 GEOLOGIC SETTING AND MINERALIZATION** | **[7-1](#p7-1)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1 Regional Geology | [7-1](#p7-1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2 Local Geology | [7-1](#p7-1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3 Mineralization | [7-5](#p7-5) |
| **8 DEPOSIT TYPES** | **[8-1](#p8-1)** |
| **9 EXPLORATION** | **[9-1](#p9-1)** |
| **10 DRILLING** | **[10-1](#p10-1)** |
| **11 SAMPLE PREPARATION, ANALYSES & SECURITY** | **[11-1](#p11-1)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.1 Sampling Method and Approach | [11-1](#p11-1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2 Laboratory Analyses | [11-2](#p11-2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.3 Quality Control | [11-3](#p11-3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.4 Adequacy of Laboratory Procedures and Sample Security | [11-7](#p11-7) |
| **12 DATA VERIFICATION** | **[12-1](#p12-1)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1 Property Inspection 2021 and 2022 | [12-1](#p12-1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.2 Opinion of the Independent Qualified Person | [12-2](#p12-2) |
| **13 MINERAL PROCESSING AND METALLURGICAL TESTING** | **[13-1](#p13-1)** |

---

---

| | |
|:---|:---|
| ![](foot_logo.jpg) | TOC-3 |

---

**TECHNICAL REPORT – TLC Property, Nevada, USA**

---

| | |
|:---|:---|
| **14 MINERAL RESOURCE ESTIMATES** | **[14-1](#p14-1)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.1 Approach | [14-1](#p14-1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.2 Basis for Resource Estimation | [14-1](#p14-2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.3 Data Sources | [14-2](#p14-3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.4 Model | [14-3](#p14-4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.5 Assessment of Reasonable Prospects for Economic Extraction | [14-13](#p14-13) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.6 Lithium Resource Estimates | [14-15](#p14-15) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.7 Potential Risks | [14-20](#p14-20) |
| **15 MINERAL RESERVE ESTIMATES** | **[15-1](#p15-1)** |
| **16 MINING METHODS** | **[16-1](#p16-1)** |
| **17 RECOVERY METHODS** | **[17-1](#p17-1)** |
| **18 PROJECT INFRASTRUCTURE** | **[18-1](#p18-1)** |
| **19 MARKETS AND CONTRACTS** | **[19-1](#p19-1)** |
| **20 ENVIRONMENTAL STUDIES, PERMITTING AND SOCIAL OR COMMUNITY IMPACT** | **[20-1](#p20-1)** |
| **21 CAPITAL AND OPERATING COSTS** | **[21-1](#p21-1)** |
| **22 ECONOMIC ANALYSIS** | **[22-1](#p22-1)** |
| **23 ADJACENT PROPERTIES** | **[23-1](#p23-1)** |
| **24 OTHER RELEVANT DATA AND INFORMATION** | **[24-1](#p24-1)** |
| **25 INTERPRETATION AND CONCLUSIONS** | **[25-1](#p25-1)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**25.1** Potential Risks | **[25-4](#p25-4)** |
| **26 RECOMMENDATIONS** | **[26-1](#p26-1)** |
| **27 REFERENCES** | **[27-1](#p27-1)** |

---

#### List of Tables

---

| | |
|:---|:---|
| Table 1.1 Historic Lithium Estimates – U.S. Customary Units | [1-2](#t1-2) |
| Table 1.2 Lithium Resource Estimates – U.S. Customary Units | [1-4](#t1-4) |
| Table 1.3 Lithium Resource Estimates – Metric Units | [1-5](#t1-5) |
| Table 1.4 Phase 1: Data Gathering Cost Estimate | [1-7](#t1-7) |
| Table 4.1 Summary of Claims on Property | [4-6](#t4-6) |
| Table 6.1 Historic Lithium Estimates – U.S. Customary Units | [6-4](#t6-4) |
| Table 6.2 Agitated Leach Test Results | [6-5](#t6-5) |
| Table 10.1 TLC Property Drilling | [10-2](#t10-1) |
| Table 11.1 Vendor Certified Reference Material Ranges | [11-4](#t11-4) |
| Table 13.2 In Progress Metallurgical Testing | [13-1](#t13-1) |
| Table 14.1 Block Model Parameters | [14-3](#t14-3) |
| Table 14.2 Vertical Zone Thickness from Drill Holes | [14-7](#t14-7) |
| Table 14.3 Composite Lithium Grades from Drill Holes | [14-7](#t14-7a) |
| Table 14.4 Lithium Grade Estimation Parameters | [14-11](#t14-11) |
| Table 14.5 Lithium Resource Estimates – U.S. Customary Units | [14-17](#t14-17) |

---

---

| | |
|:---|:---|
| ![](foot_logo.jpg) | TOC-4 |

---

**TECHNICAL REPORT – TLC Property, Nevada, USA**

---

| | |
|:---|:---|
| Table 14.6 Lithium Resource Estimates – Metric Units | [14-18](#t14-18) |
| Table 25.1 Lithium Resource Estimates – U.S. Customary Units | [25-2](#t25-1) |
| Table 25.2 Lithium Resource Estimates – Metric Units | [25-3](#t25-2) |
| Table 26.1 Phase 1: Data Gathering Cost Estimate | [26-1](#t26-1) |

---

#### List of Figures

---

| | | |
|:---|:---|:---|
| Figure 4-1 | General Location Map | [4-2](#f4-2) |
| Figure 4-2 | Property Location Map | [4-3](#f4-3) |
| Figure 4-3 | Land Tenure Map | [4-4](#f4-4) |
| Figure 5-1 | Infrastructure Map | [5-3](#f5-3) |
| Figure 6-1 | Flow Sheet for Battery Quality Lithium Hydroxide Monohydrate Production | [6-6](#f6-6) |
| Figure 7-1 | Regional Geology Map | [7-2](#f7-2) |
| Figure 7-2 | Local Geology Map | [7-3](#f7-3) |
| Figure 7-3 | Structural Cross Sections | [7-6](#f7-6) |
| Figure 10-1 | Drill Hole Location Map | [10-5](#f10-5) |
| Figure 11-1 | TLC Lithium Blanks Analyses | [11-5](#f11-5) |
| Figure 11-2 | TLC Lithium Duplicate Analyses | [11-6](#f11-6) |
| Figure 11-3 | MEG Lithium Standard MEG-Li.10.11 | [11-8](#f11-8) |
| Figure 11-4 | MEG Lithium Standard MEG-Li.10.15 | [11-9](#f11-9) |
| Figure 12-1 | Site Visit GPS Locations and Photographs | [12-3](#f12-1) |
| Figure 12-2 | Site Visit Photographs | [12-4](#f12-2) |
| Figure 14-1 | Model Topography and Extent | [14-4](#f14-4) |
| Figure 14-2 | Model Zones | [14-6](#f14-6) |
| Figure 14-3 | Mineralized Zone Grade Distribution | [14-9](#f14-9) |
| Figure 14-4 | Mineralized Zone Semi-Variogram | [14-10](#f14-10) |
| Figure 14-5 | Resource Model Cross Sections | [14-12](#f14-12) |
| Figure 14-6 | Economic Pit Shell | [14-14](#f14-14) |
| Figure 14-7 | Resource Classification Map | [14-16](#f14-16) |
| Figure 14-8 | Economic Pit Shell Depth Map | [14-19](#f14-18) |

---

---

| | |
|:---|:---|
| ![](foot_logo.jpg) | TOC-5 |

---

**TECHNICAL REPORT – TLC Property, Nevada, USA**

---

| | |
|:---|:---|
| 1 | SUMMARY |

---

**Introduction**

This Technical Report was prepared by Stantec Consulting Services Inc. (Stantec) for American Lithium Corporation (American Lithium) in accordance with the requirements of National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101). This Technical Report is an update of a prior Technical Report on the TLC (Tonopah Lithium Claims) Property (the Property) completed by Loveday (2021).

**Property Description and Location**

The TLC Property is located approximately 6.2 miles (10 kilometers (km)) northwest of the town of Tonopah, east of Big Smoky Valley and west of the San Antonio Mountain range, Nye County, Nevada. The geographic coordinates of the Property's approximate center are N-38°9'57" and W-117°17'44" (20929115 N, 1459590 E; NAD 83 State Plane Nevada Central Feet).

**Property Concessions**

The Property consists of 614 unpatented lode mining claims that cover approximately 12,511 acres (5,063 hectares). The Property is registered with the Department of the Interior Bureau of Land Management (BLM) and Nye County under the following claimant names: Tonopah Lithium Corp (formerly 1074654 Nevada Ltd), 1301420 Nevada Corporation, Big Smoky Holdings Inc., and Esoteric Consulting Ltd. All claimants are 100% owned subsidiaries by American Lithium Corp. There is a 1% royalty held on the claims formerly held by Nevada Alaska.

**Geological Setting and Mineralization**

Surficial geology within the Property boundary is mapped as a Quaternary-aged flat alluvial outwash plane. The outwash plane is interspersed with shallow washes draining towards the west. The shallow washes partially expose underlying fines-dominant sediments and lithic tuffs of the Tertiary Miocene-age Siebert Formation. Exploration drilling on the Property shows the outwash plane surface alluvium to have an average thickness of 22 feet (ft) (6.7 meters (m)). Bordering the Property are rhyolite intrusions in the east and andesite in the north that are exposed on the high ground.

The dominant lithology below the alluvial cap varies throughout the Property. Below the alluvial cap are finely laminated claystone beds with occasional lenses of sandstone, conglomerate, volcanic tuff and ash layers. Collectively, this mixed unit is called the upper claystone. Immediately below the upper claystone is a basal tuff marker bed, not always present, that comprises lenses of tuffaceous sandstones and conglomerates that transition into another predominantly claystone bed at depth. Sediments below the upper claystone are collectively referred to as the lower claystone beds. Below the lower claystone drilling has intercepted both tuffaceous crystalline basement and limestone. The upper and lower claystone beds have elevated lithium (Li) grades and host the mineral resource on the TLC Property.

---

| | |
|:---|:---|
| ![](foot_logo.jpg) | 1-1 |

---

**TECHNICAL REPORT – TLC Property, Nevada, USA**

The upper and lower lithium mineralized claystone beds are offset by high angle normal faulting on the Property. Geological modeling of the deposit has the TLC Property separated into ten (10) fault blocks, of which nine (9) blocks, contain lithium enriched clays. The overall footprint of mineralized clays, with lithium concentrations greater than 500 parts per million (ppm), is 7,500 acres (3,035 hectares) extending from just below surface weathering to a depth of approximately 1,000 ft (304.8 m) below surface.

**Historical Estimates**

Table 1.1. outlines base case historical estimates prepared by Loveday (2021), effective April 15, 2020.

#### Table 1.1<br> Historic Lithium Estimates – U.S. Customary Units

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Cutoff** <br> **Li (ppm)** | **Volume**<br> **(Myd<sup>3</sup>)** | **Tons**<br> **(Mst)** | **Li**<br> **(ppm)** | **Million short tons (Mst)** | **Million short tons (Mst)** | **Million short tons (Mst)** |
| **Cutoff** <br> **Li (ppm)** | **Volume**<br> **(Myd<sup>3</sup>)** | **Tons**<br> **(Mst)** | **Li**<br> **(ppm)** | **Li** | **Li<sub>2</sub>CO<sub>3</sub>** | **LiOH.H<sub>2</sub>O** |
| **Measured** | **Measured** | **Measured** | **Measured** | **Measured** | **Measured** | **Measured** |
| **400** | **523** | **749** | **932** | **0.70** | **3.72** | 4.24 |
| **Indicated** | **Indicated** | **Indicated** | **Indicated** | **Indicated** | **Indicated** | **Indicated** |
| **400** | **328** | **470** | **898** | **0.42** | **2.23** | 2.54 |
| **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** |
| **400** | **851** | **1219** | **919** | **1.12** | **5.95** | 6.78 |
| **Inferred** | **Inferred** | **Inferred** | **Inferred** | **Inferred** | **Inferred** | **Inferred** |
| **400** | **279** | **400** | **912** | **0.36** | **1.92** | 2.18 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· CIM definitions are followed for classification of Mineral Resource.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Mineral Resource surface pit extent has been estimated using a lithium carbonate
price of US10,000 US$/tonne and mining cost of US$2.00 per tonne, a lithium recovery of 80%, fixed density of 1.70 g/cm<sup>3</sup> (1.43
tons/yd<sup>3</sup>)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Conversions: 1 metric tonne = 1.102 short tons, metric m<sup>3</sup> = 1.308 yd<sup>3</sup>,
Li<sub>2</sub>CO<sub>3</sub>:Li ratio = 5.32, LiOH.H<sub>2</sub>O:Li ratio = 6.05

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Totals may not represent the sum of the parts due to rounding.

The Authors has not done sufficient work to classify these historical estimates as current mineral resources and the issuer is not treating the historical estimate as current mineral resources.

**Exploration Sampling and Drilling**

In the fall of 2018, American Lithium completed confirmation surface sampling at the Property on 24 rock samples (outcrop and float). The analytical results from the sampling program ranged from 129.5 to 1,380 ppm Li with an average of 656.5 ppm Li. This initial surface sampling was followed up with a 29-hole reverse circulation (RC) and diamond core exploration drilling program that was documented in the prior Technical Report (Loveday, 2021). For this Technical Report an additional 53 drill holes were completed for a total of 82 drill holes. The additional 53 holes comprise: 8 sonic core holes, 10 diamond core, and 35 RC drill holes.

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|:---|:---|
| ![](foot_logo.jpg) | 1-2 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

**Mineral Processing and Metallurgical Testing**

In 2019 indicative metallurgical tests completed by McClelland Laboratories Inc. (McClelland) in Sparks, Nevada showed that over 90% of the lithium can be extracted in less than 60 minutes using acid leaching only and that no roasting/calcining of the mineralized material is required to efficiently extract the Li and processed as a lithium hydroxide monohydrate (LiOH.H<sub>2</sub>O) or lithium carbonate product (Li<sub>2</sub>CO<sub>3</sub>). Since the prior Technical Report there have been several bulk sampling campaigns using drill hole samples for metallurgical testing. The results and associated interpretation of the metallurgical testing were still in progress as of the effective date of this Technical Report.

**Assessment of Reasonable Prospects for Eventual Economic Extraction**

A base case lithium resource cutoff grade has been determined based on the economics of a medium size (100 Mtpa) run-of-mine (ROM) surface mining operation that does not require blasting. Processing of the mineralized material would be onsite extracting lithium from claystone using an acid digestion method. A base case cutoff grade for Li is estimated to be 500 ppm and an economic pit shell was developed to report surface minable resources.

**Mineral Resource Estimation**

The TLC Property geologic model is a 3D block model using the Nevada State Plane Central Zone NAD83 coordinate system and U.S. customary units. The geologic model was separated into four stratigraphic zones, which from top to bottom included the following units: surface weathering alluvium, upper claystone, lower claystone, and basement.

The lithium mineral resource estimates are presented in Table 1.2 in U.S. customary units and Table 1.3 in metric units. The resource estimates are contained within an economic pit shell at constant 45° pit slope to a maximum vertical depth of 970 ft (296 m) below surface. Lithium resources are presented for a range of cutoff grades to a maximum of 1,200 ppm lithium. All lithium resources on the TLC Property are surface mineable at a stripping ratio of 2.4 waste yd<sup>3</sup>/ton (0.8 m<sup>3</sup>/tonne) at the base case cutoff grade of 500 ppm lithium. The effective date of the lithium resource estimate is October 6, 2022.

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|:---|:---|
| ![](foot_logo.jpg) | 1-3 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

#### Table 1.2<br> Lithium Resource Estimates – U.S. Customary Units

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | | | **Million short tons (Mst)** | **Million short tons (Mst)** | **Million short tons (Mst)** |
| **Cutoff** <br>**Li (ppm)** | **Volume**<br>**(Myd<sup>3</sup>)** | **Tons**<br>**(Mst)** | **Li**<br>**(ppm)** | **Li** | **Li<sub>2</sub>CO<sub>3</sub>** | **LiOH.H<sub>2</sub>O** |
| **Measured** | **Measured** | **Measured** | **Measured** | **Measured** | **Measured** | **Measured** |
| **500** | **662** | **948** | **924** | **0.88** | **4.68** | **5.32** |
| 600 | 545 | 781 | 1006 | 0.79 | 4.2 | 4.78 |
| 800 | 371 | 532 | 1153 | 0.61 | 3.25 | 3.69 |
| 1000 | 265 | 380 | 1255 | 0.48 | 2.55 | 2.9 |
| 1200 | 136 | 195 | 1401 | 0.27 | 1.44 | 1.63 |
| **Indicated** | **Indicated** | **Indicated** | **Indicated** | **Indicated** | **Indicated** | **Indicated** |
| **500** | **917** | **1314** | **727** | **0.96** | **5.11** | **5.81** |
| 600 | 573 | 821 | 835 | 0.69 | 3.67 | 4.17 |
| 800 | 285 | 408 | 987 | 0.4 | 2.13 | 2.42 |
| 1000 | 105 | 150 | 1148 | 0.17 | 0.9 | 1.03 |
| 1200 | 29 | 42 | 1328 | 0.06 | 0.32 | 0.36 |
| **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** |
| **500** | **1579** | **2262** | **813** | **1.84** | **9.79** | **11.13** |
| 600 | 1118 | 1602 | 924 | 1.48 | 7.87 | 8.95 |
| 800 | 656 | 940 | 1074 | 1.01 | 5.38 | 6.11 |
| 1000 | 370 | 530 | 1226 | 0.65 | 3.45 | 3.93 |
| 1200 | 165 | 237 | 1392 | 0.33 | 1.76 | 1.99 |
| **Inferred** | **Inferred** | **Inferred** | **Inferred** | **Inferred** | **Inferred** | **Inferred** |
| **500** | **374** | **536** | **713** | **0.38** | **2.02** | **2.3** |
| 600 | 227 | 325 | 827 | 0.27 | 1.44 | 1.63 |
| 800 | 101 | 145 | 995 | 0.14 | 0.74 | 0.85 |
| 1000 | 40 | 57 | 1151 | 0.07 | 0.37 | 0.42 |
| 1200 | 10 | 14 | 1315 | 0.02 | 0.11 | 0.12 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· CIM definitions are followed for classification of Mineral Resource.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Mineral
Resource surface pit extent has been estimated using a lithium carbonate price of US20,000 US$/tonne and mining cost of US$3.00 per tonne,
a lithium recovery of 90%, fixed density of 1.70 g/cm<sup>3</sup> (1.43 tons/yd<sup>3</sup>)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Conversions: 1 metric tonne = 1.102 short tons, metric m<sup>3</sup> = 1.308 yd<sup>3</sup>, Li<sub>2</sub>CO<sub>3</sub>:Li ratio
= 5.32, LiOH.H<sub>2</sub>O:Li ratio =6.05

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Totals may not represent the sum of the parts due to rounding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The Mineral Resource estimate has been prepared by Joan Kester, PG and Derek Loveday, P. Geo. of Stantec Consulting Services Inc. in
conformity with CIM "Estimation of Mineral Resource and Mineral Reserves Best Practices" guidelines and are reported in accordance
with the Canadian Securities Administrators NI 43-101. Mineral resources are not mineral reserves and do not have demonstrated economic
viability. There is no certainty that any mineral resource will be converted into mineral reserve.

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| ![](foot_logo.jpg) | 1-4 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

#### Table 1.3<br> Lithium Resource Estimates – Metric Units

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | | | **Million Tonnes (Mt)** | **Million Tonnes (Mt)** | **Million Tonnes (Mt)** |
| **Cutoff** <br>**Li (ppm)** | **Volume**<br>**(Mm<sup>3</sup>)** | **Tonnes**<br>**(Mt)** | **Li**<br>**(ppm)** | **Li** | **Li<sub>2</sub>CO<sub>3</sub>** | **LiOH.H<sub>2</sub>O** |
| **Measured** | **Measured** | **Measured** | **Measured** | **Measured** | **Measured** | **Measured** |
| **500** | **506** | **860** | **924** | **0.79** | **4.2** | **4.78** |
| 600 | 416 | 707 | 1006 | 0.71 | 3.78 | 4.3 |
| 800 | 283 | 481 | 1153 | 0.55 | 2.93 | 3.33 |
| 1000 | 203 | 345 | 1255 | 0.43 | 2.29 | 2.6 |
| 1200 | 104 | 177 | 1401 | 0.25 | 1.33 | 1.51 |
| **Indicated** | **Indicated** | **Indicated** | **Indicated** | **Indicated** | **Indicated** | **Indicated** |
| **500** | **701** | **1192** | **727** | **0.87** | **4.63** | **5.26** |
| 600 | 438 | 745 | 835 | 0.62 | 3.3 | 3.75 |
| 800 | 218 | 371 | 987 | 0.37 | 1.97 | 2.24 |
| 1000 | 80 | 136 | 1148 | 0.16 | 0.85 | 0.97 |
| 1200 | 22 | 37 | 1328 | 0.05 | 0.27 | 0.3 |
| **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** |
| **500** | **1207** | **2052** | **809** | **1.66** | **8.83** | **10.04** |
| 600 | 854 | 1452 | 916 | 1.33 | 7.08 | 8.05 |
| 800 | 501 | 852 | 1080 | 0.92 | 4.9 | 5.57 |
| 1000 | 283 | 481 | 1227 | 0.59 | 3.14 | 3.57 |
| 1200 | 126 | 214 | 1402 | 0.3 | 1.6 | 1.81 |
| **Inferred** | **Inferred** | **Inferred** | **Inferred** | **Inferred** | **Inferred** | **Inferred** |
| **500** | **286** | **486** | **713** | **0.35** | **1.86** | **2.12** |
| 600 | 173 | 294 | 827 | 0.24 | 1.28 | 1.45 |
| 800 | 77 | 131 | 995 | 0.13 | 0.69 | 0.79 |
| 1000 | 31 | 53 | 1151 | 0.06 | 0.32 | 0.36 |
| 1200 | 8 | 14 | 1315 | 0.02 | 0.11 | 0.12 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· CIM definitions are followed for classification of Mineral Resource.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Mineral Resource surface pit extent has been estimated using a lithium carbonate
price of US20,000 US$/tonne and mining cost of US$3.00 per tonne, a lithium recovery of 90%, fixed density of 1.70 g/cm<sup>3</sup> (1.43
tons/yd<sup>3</sup>)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Conversions: 1 metric tonne = 1.102 short tons, metric m<sup>3</sup> = 1.308 yd<sup>3</sup>,
Li<sub>2</sub>CO<sub>3</sub>:Li ratio = 5.32, LiOH.H<sub>2</sub>O:Li ratio =6.05

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Totals may not represent the sum of the parts due to rounding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The Mineral Resource estimate has been prepared by Joan Kester, PG and Derek Loveday,
P. Geo. of Stantec Consulting Services Inc. in conformity with CIM "Estimation of Mineral Resource and Mineral Reserves Best Practices"
guidelines and are reported in accordance with the Canadian Securities Administrators NI 43-101. Mineral resources are not mineral reserves
and do not have demonstrated economic viability. There is no certainty that any mineral resource will be converted into mineral reserve.

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| ![](foot_logo.jpg) | 1-5 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

**Interpretations and Conclusions**

The mineral resource estimates presented in Table 25.1 and Table 25.2 represent an increase in both resource confidence and quantity compared to historical estimates (Loveday, 2021). These differences are due to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Increase in concession area of the Property from 4,114 acres (1,665 hectares) to current 12,511 acres
(5,063 hectares);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Increase in exploration drilling from 29 holes to a total of 82 holes; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Increasing depth of drilling since the last technical report has identified an additional lower lithium
clay zone below a basal tuff marker bed previously (Loveday, 2021) used as a resource limiting basement horizon.

Potential risks that may impact accuracy of the mineral resource estimates are:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The resource limited to within nine (9) fault blocks that may shift location given further exploration.
Should new supporting data support a significant shift in the fault locations this may have a material impact on the resource estimates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The intrusions and the other volcanics around the extremities of the Property are only recognized from
surface mapping. Future exploration drilling in these areas of the Property may show these intrusions and other volcanics extending into
the Property below surface. This may have a material impact on the resource estimates in these regions of the deposit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Quality assurance and quality control (QA/QC) records of assay blanks and standards indicate that there
is potential for inconsistencies in the predicted reliability of the lithium assay results received from Paragon laboratories when compared
to assay results received from other laboratories.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Metallurgical testing currently under the control of DRA Global Limited (DRA) may indicate that the input
costs for the practical extraction of lithium to be higher than anticipated. Since processing costs are a significant component of lithium
carbonate (or lithium hydroxide monohydrate) production, the lithium cutoff grade may be higher than the base case cutoff grade of 500
ppm used for the lithium resource estimates.

**Recommendations**

Two phases, listed below, are recommended to advance the TLC Property.

**Phase 1**

Additional studies are recommended to define the locations and throw of the faults on the property, and to assess the accuracy of lithium assay test results received from Paragon laboratories. It is recommended that exploration methods use minimal surface disturbance, rather than immediately advancing to another exploration drilling program. The estimated costs with the Phase 1 program are outlined in Table 1.4.

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| ![](foot_logo.jpg) | 1-6 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

#### Table 1.4<br> Phase 1: Data Gathering Cost Estimate

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| | | | |
|:---|:---|:---|:---|
| **Program** | **Purpose** | **Method** | **Total**<br> **(US$000)** |
| Re-assay of drill samples | Re-assay 20% samples sent to Paragon laboratory | ICP-OES+ICP-MS | 10 |
| LiDAR Survey | Potential identification of subtle changes in subsurface geology | Drone LiDAR Survey | 15 |
| Geophysics | Identification of faults | Active and Passive | 50 |
| Mineral Processing | Further constrain mineral Processing from larger samples | Process Testing | 150 |
| **Estimated Total** | **Estimated Total** | **Estimated Total** | **225** |

---

**Phase 2**

Phase 2 is not contingent on the results of Phase 1. Stantec recommends that, for Phase 2, a Preliminary Economic Assessment (PEA) should be completed on the TLC Property. The PEA involves several major tasks, which are listed below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Identify ground water sources to be utilized in the development of the TLC Property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Mine design and development;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Lithium process facilities including a sulphuric acid plant;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Project infrastructure and required utilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Tailings management plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Regulatory roadmap outlining the regulatory process, timelines and costs; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Capex and Opex estimate and economic analysis.

The cost to complete Phase 2 is estimated at US$500k. Components of the Phase 2 program are currently in progress as of the effective date of this Technical Report.

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| ![](foot_logo.jpg) | 1-7 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

2 INTRODUCTION

This Technical Report was prepared by Stantec Consulting Services Inc. (Stantec) for American Lithium Corporation (American Lithium) in accordance with the requirements of National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101). This Technical Report is an update of a prior Technical Report on the TLC (Tonopah Lithium Claims) Property (the Property) completed by Loveday (2021).

Information used in the compilation of the Technical Report was provided by American Lithium as well as from public domain sources. All source of information in addition to the American Lithium's exploration data are listed in the reference Section 27.

The authors and independent Stantec Qualified Personnel (QP) have inspected the Property on separate occasions in 2021 and 2022. The QP's verified drill hole locations, and reviewed sample handling procedures.

The "Effective Date" means, with reference to a Technical Report, the date of the most recent scientific or technical information included in the Technical Report.

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| ![](foot_logo.jpg) | 2-1 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

3 RELIANCE ON OTHER EXPERTS

The Qualified Person did not rely on a report, opinion or statement of another expert who is not a qualified person, or on information provided by the issuer, concerning legal, political, environmental, or tax matters.

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| ![](foot_logo.jpg) | 3-1 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

4 PROPERTY DESCRIPTION AND LOCATION

4.1 Description and Location

The Property is located approximately 6.2 miles (10 km) northwest of the town of Tonopah, east of the Big Smoky Valley and west of the San Antonio Mountain range, Nye County, Nevada as shown on Figures 4-1 and 4-2. The geographic coordinates of the Property's approximate center are N-38°9'57" and W-117°17'44" (20929115 N, 1459590 E; NAD 83 State Plane Nevada Central Feet). Figure 4-2 shows the location of the Property relative to the town of Tonopah and the Township, Range and Sections.

4.2 Property Concessions

The Property consists of 614 unpatented lode mining claims located in Township and Range T4N, R41E; TN4, R42E; T3N, R41E; and T3N, R42E of the Mount Diablo Meridian (21) and covers an area of 12,511 acres (5,063 hectares). Table 4.1 (TLC Property Lode Claims) lists the claims, associated claimants and status. Figure 4-3 (Land Tenure Map) shows the claim locations.

The Property is registered with the Department of the Interior Bureau of Land Management (BLM) and Nye County under the following claimant names: Tonopah Lithium Corp (formerly 1074654 Nevada (NV) Ltd or Corp), 1301420 Nevada Corporation, Big Smoky Holdings Inc., and Esoteric Consulting Ltd. All claimants are wholly-owned subsidiaries of American Lithium Holdings Corp. which is itself a wholly-owned subsidiary of American Lithium Corp. TLC is in the process of listing all claims under Tonopah Lithium Corp owned by American Lithium Holdings Corp. On August 19, 2021 a British Columbia certificate of amalgamation (BC1320524) was filed beginning the merger process of all claimants under American Lithium Holdings Corp. Nevada Secretary of State Certificate of Amendment filing number #20211716952 (August 30, 2021) and Article of Conversion #20222396457 (June 13, 2022) are respective documents converting 1074654 Nevada Ltd and 1301420 Nevada Corporation into Tonopah Lithium Corp. The Big Smoky Holdings Corp acquisition took place on September 7, 2021.

To maintain the claims in good standing, a payment of US$165/claim to the BLM and US$12/claim to Nye County must be made by September 1 of each year. There is a 1% royalty held on the claims formerly held by Nevada Alaska Mining Company, Inc. which are shown in gray on Figure 4-3. No other royalties are known to exist.

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|:---|:---|
| ![](foot_logo.jpg) | 4-1 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

![](fig4_1.jpg)

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|:---|:---|
| ![](foot_logo.jpg) | 4-2 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

![](fig4_2.jpg)

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|:---|:---|
| ![](foot_logo.jpg) | 4-3 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

![](fig4_3.jpg)

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|:---|:---|
| ![](foot_logo.jpg) | 4-4 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

4.3 Option Agreements, Royalties and Encumbrances

**American Lithium – Nevada Alaska Option and Royalty Agreement**

American Lithium signed an agreement titled "Purchase/Royalty Agreement" with an Effective Date of August 13, 2018, with Nevada Alaska Mining Company, Inc. (Nevada Alaska), whereby American Lithium may earn an undivided 100% interest in the Property, subject to a Royalty. In this agreement "the Company" refers to American Lithium, while the "Royalty Holder" refers to Nevada Alaska. The agreement mandates a one-mile Area of Interest (AOI) around the Nevada Alaska 75 lode mining claims (shown as gray on Figure 4-3), which encompass 1,550 acres (627 hectares). Any claims acquired by either party within the one mile AOI become part of this agreement.

The August 13, 2018, Purchase/Royalty Agreement was revised on the April 23, 2020, in an agreement titled "Amended and Restated Purchase/Royalty Agreement" where a (2.5%) royalty was in place with a 1.5% buyback option that was agreed upon for two payments of US$50,000 and the issuance of 250,000 shares of American Lithium stock to Nevada Alaska, in addition to keeping claims up to date. On July 9, 2020 the buyback option was exercised for the payment of US$150,000 (the "Buyback Payment") and 843,750 common shares of the Purchaser (the "Buyback Shares"), pursuant to the terms of the agreement.

The current terms of the April 23, 2020, Purchase/Royalty/Bonus Agreement are listed below after the Royalty Buyback agreement commenced on July 9, 2020.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· "If the Company commences production of Products that are mined from the Property, the Company grants
and shall pay the Royalty Holder a Royalty equal to one percent (1.0%) of the gross proceeds from sales (the "Gross Proceeds")
of all Products, computed as herein provided and less Allowable Deductions. No Royalty shall be due upon bulk samples extracted by the
Company for metallurgical testing purposes during the Company's exploration or development work on the Property. The Royalty Holder
acknowledges and agrees that any decision to commence, pursue, suspend, or cease mining of the Property is solely a matter for the Company."

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| ![](foot_logo.jpg) | 4-5 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

#### Table 4.1<br> Summary of Claims on Property

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Claim Name** | **Serial Number** | **Date of Location** | **Claimant Name<br> (Owner)** | **Expiration Date** | **Status** |
| RJWH 1 | NV105771500 | 5/15/2022 | TONOPAH LITHIUM CORP | 9/1/2023 | FILED |
| RJWH 2 | NV105771501 | 5/15/2022 | TONOPAH LITHIUM CORP | 9/1/2023 | FILED |
| RJWH 3 | NV105771502 | 5/15/2022 | TONOPAH LITHIUM CORP | 9/1/2023 | FILED |
| RJWH 4 | NV105771503 | 5/15/2022 | TONOPAH LITHIUM CORP | 9/1/2023 | FILED |
| RJWH 5 | NV105771504 | 5/15/2022 | TONOPAH LITHIUM CORP | 9/1/2023 | FILED |
| RJWH 6 | NV105771505 | 5/15/2022 | TONOPAH LITHIUM CORP | 9/1/2023 | FILED |
| RJWH 7 | NV105771506 | 5/15/2022 | TONOPAH LITHIUM CORP | 9/1/2023 | FILED |
| RJWH 8 | NV105771507 | 5/15/2022 | TONOPAH LITHIUM CORP | 9/1/2023 | FILED |
| RJWH 9 | NV105771508 | 5/15/2022 | TONOPAH LITHIUM CORP | 9/1/2023 | FILED |
| RJWH 10 | NV105771509 | 5/15/2022 | TONOPAH LITHIUM CORP | 9/1/2023 | FILED |
| RJWH 11 | NV105771510 | 5/15/2022 | TONOPAH LITHIUM CORP | 9/1/2023 | FILED |
| RJWH 12 | NV105771511 | 5/15/2022 | TONOPAH LITHIUM CORP | 9/1/2023 | FILED |
| RJWH 13 | NV105771512 | 5/15/2022 | TONOPAH LITHIUM CORP | 9/1/2023 | FILED |
| RJWH 14 | NV105771513 | 5/15/2022 | TONOPAH LITHIUM CORP | 9/1/2023 | FILED |
| RJWH 15 | NV105771514 | 5/15/2022 | TONOPAH LITHIUM CORP | 9/1/2023 | FILED |
| RJWH 16 | NV105771515 | 5/15/2022 | TONOPAH LITHIUM CORP | 9/1/2023 | FILED |
| RJWH 17 | NV105771516 | 5/15/2022 | TONOPAH LITHIUM CORP | 9/1/2023 | FILED |
| RJWH 18 | NV105771517 | 5/15/2022 | TONOPAH LITHIUM CORP | 9/1/2023 | FILED |
| TLC 10 | NV101818163 | 3/6/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 11 | NV101818164 | 3/6/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 12 | NV101818165 | 3/6/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 13 | NV101818166 | 3/6/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 14 | NV101818167 | 3/6/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 15 | NV101818168 | 3/6/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 16 | NV101818169 | 3/6/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 17 | NV101818170 | 3/6/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 18 | NV101818171 | 3/6/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 19 | NV101704412 | 11/2/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 20 | NV101704413 | 11/2/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 21 | NV101704414 | 11/2/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 22 | NV101704415 | 11/2/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 23 | NV101704416 | 11/2/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 24 | NV101704417 | 11/2/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 25 | NV101704418 | 11/2/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 26 | NV101704419 | 11/2/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 27 | NV101704420 | 11/2/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 28 | NV101704421 | 11/2/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 29 | NV101818172 | 3/6/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |

---

---

| | |
|:---|:---|
| ![](foot_logo.jpg) | 4-6 |

---

**TECHNICAL REPORT – TLC Property, Nevada, USA**

Table 4.1 (Cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Claim Name** | **Serial Number** | **Date of Location** | **Claimant Name<br> (Owner)** | **Expiration Date** | **Status** |
| TLC 30 | NV101818173 | 3/6/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 31 | NV101818174 | 3/6/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 32 | NV101818175 | 3/6/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 33 | NV101819021 | 3/6/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 48 | NV101819022 | 3/8/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 49 | NV101819023 | 3/8/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 50 | NV101819024 | 3/8/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 51 | NV101819025 | 3/8/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 52 | NV101819026 | 3/8/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 53 | NV101819027 | 3/8/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 54 | NV101819028 | 3/8/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 55 | NV101819029 | 3/8/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 56 | NV101819030 | 3/8/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 57 | NV101819031 | 3/8/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 58 | NV101819032 | 3/8/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 59 | NV101819033 | 3/8/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 60 | NV101819034 | 3/8/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 61 | NV101819035 | 3/8/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 62 | NV101819036 | 3/8/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 63 | NV101819037 | 3/8/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 64 | NV101819038 | 3/8/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 65 | NV101819039 | 3/8/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 66 | NV101819040 | 3/8/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 67 | NV101819864 | 3/8/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 68 | NV101819865 | 3/8/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 69 | NV101819866 | 3/8/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 310 | NV101819867 | 3/6/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 311 | NV101819868 | 3/6/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 312 | NV101819869 | 3/6/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 313 | NV101819870 | 3/6/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 314 | NV101819871 | 3/6/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 315 | NV101819872 | 3/6/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 316 | NV101819873 | 3/6/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 317 | NV101819874 | 3/6/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 318 | NV101590664 | 3/6/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 319 | NV101590665 | 3/6/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 320 | NV101590666 | 3/6/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 321 | NV101590667 | 3/6/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 322 | NV101703325 | 11/1/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |

---

---

| | |
|:---|:---|
| ![](foot_logo.jpg) | 4-7 |

---

**TECHNICAL REPORT – TLC Property, Nevada, USA**

Table 4.1 (Cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Claim Name** | **Serial Number** | **Date of Location** | **Claimant Name<br> (Owner)** | **Expiration Date** | **Status** |
| TLC 323 | NV101703326 | 11/1/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 324 | NV101703327 | 11/1/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 325 | NV101703328 | 11/1/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 326 | NV101703329 | 11/1/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 327 | NV101704407 | 11/1/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 328 | NV101704408 | 11/1/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 329 | NV101704409 | 11/1/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 330 | NV101704410 | 11/1/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 331 | NV101704411 | 11/1/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 332 | NV101590672 | 3/9/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 333 | NV101590673 | 3/9/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 334 | NV101591464 | 3/9/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 335 | NV101591465 | 3/9/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 336 | NV101591466 | 3/9/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 367 | NV101590668 | 3/24/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 368 | NV101590670 | 3/24/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 369 | NV101590671 | 3/24/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 370 | NV101704422 | 9/24/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 371 | NV101704423 | 9/24/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 372 | NV101704424 | 9/24/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 373 | NV101560065 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 374 | NV101560066 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 375 | NV101560067 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 376 | NV101560068 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 377 | NV101560069 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 378 | NV101560070 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 379 | NV101560071 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 380 | NV101560072 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 381 | NV101560073 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 382 | NV101560074 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 383 | NV101560075 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 384 | NV101560076 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 385 | NV101560077 | 6/27/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 386 | NV101560078 | 6/27/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 387 | NV101560079 | 6/27/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 388 | NV101560080 | 6/27/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 389 | NV101705476 | 9/25/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 390 | NV101705477 | 9/25/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 391 | NV101705478 | 9/25/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |

---

---

| | |
|:---|:---|
| ![](foot_logo.jpg) | 4-8 |

---

**TECHNICAL REPORT – TLC Property, Nevada, USA**

Table 4.1 (Cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Claim Name** | **Serial Number** | **Date of Location** | **Claimant Name<br> (Owner)** | **Expiration Date** | **Status** |
| TLC 392 | NV101591467 | 3/10/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 393 | NV101591468 | 3/10/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 415 | NV101591469 | 3/24/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 416 | NV101591470 | 3/24/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 417 | NV105263051 | 7/1/2021 | 1074654 NEVADA LTD | 9/1/2023 | ACTIVE |
| TLC 418 | NV101704425 | 9/24/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 419 | NV101704426 | 9/24/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 420 | NV101704427 | 9/24/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 421 | NV101560081 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 422 | NV101560082 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 423 | NV101560083 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 424 | NV101560084 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 425 | NV101711264 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 426 | NV101711265 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 427 | NV101711266 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 428 | NV101711267 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 429 | NV101711268 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 430 | NV101711269 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 431 | NV101711270 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 432 | NV101711271 | 6/27/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 433 | NV101711272 | 6/27/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 434 | NV101711273 | 6/27/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 435 | NV101711274 | 6/27/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 436 | NV101711275 | 6/27/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 437 | NV101705479 | 9/25/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 438 | NV101706493 | 9/25/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 439 | NV101706494 | 9/25/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 440 | NV101591474 | 3/10/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 441 | NV101592264 | 3/10/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 470 | NV101591471 | 3/24/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 471 | NV101591472 | 3/24/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 472 | NV101591473 | 3/24/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 1001 | NV101592405 | 3/23/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 1003 | NV101593238 | 3/23/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 1005 | NV101593239 | 3/23/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 469 | NV101705470 | 9/24/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 470 | NV101705471 | 9/24/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 471 | NV101705472 | 9/24/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 518 | NV101705473 | 9/24/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |

---

---

| | |
|:---|:---|
| ![](foot_logo.jpg) | 4-9 |

---

**TECHNICAL REPORT – TLC Property, Nevada, USA**

Table 4.1 (Cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Claim Name** | **Serial Number** | **Date of Location** | **Claimant Name<br> (Owner)** | **Expiration Date** | **Status** |
| TLC 519 | NV101705474 | 9/24/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 520 | NV101705475 | 9/24/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 472 | NV101711276 | 6/27/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 473 | NV101711277 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 474 | NV101711278 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 475 | NV101711279 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 476 | NV101711280 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 477 | NV101711281 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 478 | NV101711282 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 479 | NV101711283 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 480 | NV101711284 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 481 | NV101712429 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 482 | NV101712430 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 483 | NV101712431 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 484 | NV101712432 | 6/27/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 485 | NV101712433 | 6/27/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 486 | NV101712434 | 6/27/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 487 | NV101712435 | 6/27/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 488 | NV101712436 | 6/27/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 489 | NV101706495 | 9/25/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 490 | NV101706496 | 9/25/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 491 | NV101592265 | 3/11/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 492 | NV101592266 | 3/11/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 526 | NV101712442 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 527 | NV101712443 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 528 | NV101712444 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 529 | NV101712445 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 530 | NV101712446 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 531 | NV101712447 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 532 | NV101712448 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 533 | NV101712449 | 6/27/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 534 | NV101713491 | 6/27/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 535 | NV101713492 | 6/27/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 536 | NV101713493 | 6/27/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 537 | NV101713494 | 6/27/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 538 | NV101706497 | 9/25/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 539 | NV101706498 | 9/25/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 540 | NV101592267 | 3/11/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 541 | NV101592268 | 3/11/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |

---

---

| | |
|:---|:---|
| ![](foot_logo.jpg) | 4-10 |

---

**TECHNICAL REPORT – TLC Property, Nevada, USA**

Table 4.1 (Cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Claim Name** | **Serial Number** | **Date of Location** | **Claimant Name<br> (Owner)** | **Expiration Date** | **Status** |
| TLC 575 | NV101713495 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 576 | NV101713496 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 577 | NV101713497 | 6/27/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 578 | NV101713498 | 6/27/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 579 | NV101713499 | 6/27/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 580 | NV101713500 | 6/27/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 581 | NV101713501 | 6/27/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 582 | NV101713502 | 6/27/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 583 | NV101713503 | 6/27/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 584 | NV101592269 | 3/11/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 585 | NV101592270 | 3/11/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 586 | NV101592271 | 3/11/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 587 | NV101592401 | 3/11/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 588 | NV101592402 | 3/11/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 589 | NV101592403 | 3/11/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 590 | NV101592404 | 3/11/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 521 | NV101712437 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 522 | NV101712438 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 523 | NV101712439 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 524 | NV101712440 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 525 | NV101712441 | 6/26/2018 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 97 | NV101557302 | 7/18/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 92 | NV101557303 | 7/18/2019 | 1074654 NEVADA CORP | 9/1/2023 | ACTIVE |
| TLC 1006 | NV105263053 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 1007 | NV105263054 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 1008 | NV105263055 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 1009 | NV105263056 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 1010 | NV105263057 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 1011 | NV105263058 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 1012 | NV105263059 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 1013 | NV105263060 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 1014 | NV105263061 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 1015 | NV105263062 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 1016 | NV105263063 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 1017 | NV105263064 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 1018 | NV105263065 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 1019 | NV105263066 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 1020 | NV105263067 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 1021 | NV105263068 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |

---

---

| | |
|:---|:---|
| ![](foot_logo.jpg) | 4-11 |

---

**TECHNICAL REPORT – TLC Property, Nevada, USA**

Table 4.1 (Cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Claim Name** | **Serial Number** | **Date of Location** | **Claimant Name<br> (Owner)** | **Expiration Date** | **Status** |
| TLC 1022 | NV105263069 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 1023 | NV105263070 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 1024 | NV105263071 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 1025 | NV105263072 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 1026 | NV105263073 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 1027 | NV105263074 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 1028 | NV105263075 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 1029 | NV105263076 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 1030 | NV105263077 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 1031 | NV105263078 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 1032 | NV105263079 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 1033 | NV105263080 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 1034 | NV105263081 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 1035 | NV105263082 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 1036 | NV105263083 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLC 1037 | NV105263084 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLCN 1 | NV101875412 | 3/13/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 2 | NV101875413 | 3/13/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 3 | NV101875414 | 3/13/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 4 | NV101875415 | 3/13/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 5 | NV101875416 | 3/13/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 6 | NV101875417 | 3/13/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 7 | NV101875418 | 3/13/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 8 | NV101875419 | 3/13/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 9 | NV101875420 | 3/13/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 10 | NV101875421 | 3/13/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 11 | NV101875422 | 3/13/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 12 | NV101875423 | 3/13/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 93 | NV101876255 | 3/14/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 94 | NV101876256 | 3/14/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 95 | NV101876257 | 3/14/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 96 | NV101876258 | 3/14/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 97 | NV101876259 | 3/14/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 98 | NV101876260 | 3/14/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 99 | NV101876261 | 3/14/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 100 | NV101876262 | 3/14/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 13 | NV101875424 | 3/13/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 14 | NV101875425 | 3/13/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 101 | NV101876263 | 3/14/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |

---

---

| | |
|:---|:---|
| ![](foot_logo.jpg) | 4-12 |

---

**TECHNICAL REPORT – TLC Property, Nevada, USA**

Table 4.1 (Cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Claim Name** | **Serial Number** | **Date of Location** | **Claimant Name<br> (Owner)** | **Expiration Date** | **Status** |
| TLCN 102 | NV101876264 | 3/14/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 43 | NV101875426 | 3/15/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 44 | NV101875427 | 3/15/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 45 | NV101875428 | 3/15/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 46 | NV101875429 | 3/15/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 47 | NV101876249 | 3/15/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 48 | NV101876250 | 3/15/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 49 | NV101876251 | 3/15/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 50 | NV101876252 | 3/15/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 51 | NV101876253 | 3/15/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 52 | NV101876254 | 3/15/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 143 | NV101876265 | 3/14/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 144 | NV101876266 | 3/14/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 145 | NV105263052 | 7/1/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| TLCN 146 | NV101876267 | 3/14/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 147 | NV101876268 | 3/14/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 208 | NV101876269 | 3/13/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 1097 | NV101877084 | 3/13/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 1098 | NV101877085 | 3/13/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 1099 | NV101877086 | 3/13/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 1100 | NV101877087 | 3/13/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 1101 | NV101877088 | 3/13/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 1102 | NV101877089 | 3/13/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 1091 | NV101877078 | 3/15/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 1092 | NV101877079 | 3/15/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 1093 | NV101877080 | 3/15/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 1094 | NV101877081 | 3/15/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 1095 | NV101877082 | 3/15/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN 1096 | NV101877083 | 3/15/2020 | ESOTERIC CONSULTING LTD | 9/1/2023 | ACTIVE |
| TLCN-15 | NV105230772 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 16 | NV105230773 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 17 | NV105230774 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 18 | NV105230775 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 19 | NV105230776 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 20 | NV105230777 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 21 | NV105230778 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 22 | NV105230779 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 23 | NV105230780 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 24 | NV105230781 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |

---

---

| | |
|:---|:---|
| ![](foot_logo.jpg) | 4-13 |

---

**TECHNICAL REPORT – TLC Property, Nevada, USA**

Table 4.1 (Cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Claim Name** | **Serial Number** | **Date of Location** | **Claimant Name<br> (Owner)** | **Expiration Date** | **Status** |
| TLCN 25 | NV105230782 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 26 | NV105230783 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 27 | NV105230784 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 28 | NV105230785 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 29 | NV105230786 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 30 | NV105230787 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 31 | NV105230788 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 32 | NV105230789 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 33 | NV105230790 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 34 | NV105230791 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 53 | NV105230800 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 54 | NV105230801 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 55 | NV105230802 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 56 | NV105230803 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 57 | NV105230804 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 58 | NV105230805 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 59 | NV105230806 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLNC 60 | NV105230807 | 3/22/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 61 | NV105230808 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 62 | NV105230809 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 63 | NV105230810 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 64 | NV105230811 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 65 | NV105230812 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 66 | NV105230813 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 67 | NV105230814 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 68 | NV105230815 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 69 | NV105230816 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 70 | NV105230817 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 71 | NV105230818 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 72 | NV105230819 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 103 | NV105230840 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 104 | NV105230841 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 105 | NV105230842 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 106 | NV105230843 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 107 | NV105230844 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 108 | NV105230845 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 109 | NV105230846 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 110 | NV105230847 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 111 | NV105230848 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |

---

---

| | |
|:---|:---|
| ![](foot_logo.jpg) | 4-14 |

---

**TECHNICAL REPORT – TLC Property, Nevada, USA**

Table 4.1 (Cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Claim Name** | **Serial Number** | **Date of Location** | **Claimant Name<br> (Owner)** | **Expiration Date** | **Status** |
| TLCN 112 | NV105230849 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 113 | NV105230850 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 114 | NV105230851 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 115 | NV105230852 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 116 | NV105230853 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 117 | NV105230854 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 118 | NV105230855 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 119 | NV105230856 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 120 | NV105230857 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 121 | NV105230858 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 122 | NV105230859 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 148 | NV105230880 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 149 | NV105230881 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 150 | NV105230882 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 151 | NV105230883 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 152 | NV105230884 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 153 | NV105230885 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 154 | NV105230886 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 155 | NV105230887 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 156 | NV105230888 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 157 | NV105230889 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 158 | NV105230890 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 159 | NV105230891 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 160 | NV105230892 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 161 | NV105230893 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 162 | NV105230894 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 163 | NV105230895 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 164 | NV105230896 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 165 | NV105230897 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 166 | NV105230898 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 187 | NV105230919 | 3/22/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 188 | NV105230920 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 189 | NV105230921 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 190 | NV105230922 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 191 | NV105230923 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 192 | NV105230924 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 193 | NV105230925 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 194 | NV105230926 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 205 | NV105230937 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |

---

---

| | |
|:---|:---|
| ![](foot_logo.jpg) | 4-15 |

---

**TECHNICAL REPORT – TLC Property, Nevada, USA**

Table 4.1 (Cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Claim Name** | **Serial Number** | **Date of Location** | **Claimant Name<br> (Owner)** | **Expiration Date** | **Status** |
| TLCN 210 | NV105230938 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 212 | NV105230939 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 214 | NV105230940 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 216 | NV105230941 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 218 | NV105230942 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 220 | NV105230943 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 222 | NV105230944 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 224 | NV105230945 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 226 | NV105230946 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 228 | NV105230947 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 35 | NV105230792 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 36 | NV105230793 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 37 | NV105230794 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 38 | NV105230795 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 39 | NV105230796 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 40 | NV105230797 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 41 | NV105230798 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 42 | NV105230799 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 73 | NV105230820 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 74 | NV105230821 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 75 | NV105230822 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 76 | NV105230823 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 77 | NV105230824 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 78 | NV105230825 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 79 | NV105230826 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 80 | NV105230827 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 81 | NV105230828 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 82 | NV105230829 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 83 | NV105230830 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 84 | NV105230831 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 85 | NV105230832 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 86 | NV105230833 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 87 | NV105230834 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 88 | NV105230835 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 89 | NV105230836 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 90 | NV105230837 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 91 | NV105230838 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 92 | NV105230839 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 123 | NV105230860 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |

---

---

| | |
|:---|:---|
| ![](foot_logo.jpg) | 4-16 |

---

**TECHNICAL REPORT – TLC Property, Nevada, USA**

Table 4.1 (Cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Claim Name** | **Serial Number** | **Date of Location** | **Claimant Name<br> (Owner)** | **Expiration Date** | **Status** |
| TLCN 124 | NV105230861 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 125 | NV105230862 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 126 | NV105230863 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 127 | NV105230864 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 128 | NV105230865 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 129 | NV105230866 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 130 | NV105230867 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 131 | NV105230868 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 132 | NV105230869 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 133 | NV105230870 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 134 | NV105230871 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 135 | NV105230872 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 136 | NV105230873 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 137 | NV105230874 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 138 | NV105230875 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 139 | NV105230876 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 140 | NV105230877 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 141 | NV105230878 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 142 | NV105230879 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 167 | NV105230899 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 168 | NV105230900 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 169 | NV105230901 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 170 | NV105230902 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 171 | NV105230903 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 172 | NV105230904 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 173 | NV105230905 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 174 | NV105230906 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 175 | NV105230907 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 176 | NV105230908 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 177 | NV105230909 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 178 | NV105230910 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 179 | NV105230911 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 180 | NV105230912 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 181 | NV105230913 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 182 | NV105230914 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 183 | NV105230915 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 184 | NV105230916 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 185 | NV105230917 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 186 | NV105230918 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |

---

---

| | |
|:---|:---|
| ![](foot_logo.jpg) | 4-17 |

---

**TECHNICAL REPORT – TLC Property, Nevada, USA**

Table 4.1 (Cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Claim Name** | **Serial Number** | **Date of Location** | **Claimant Name<br> (Owner)** | **Expiration Date** | **Status** |
| TLCN 195 | NV105230927 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 196 | NV105230928 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 197 | NV105230929 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 198 | NV105230930 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 199 | NV105230931 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 200 | NV105230932 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 201 | NV105230933 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 202 | NV105230934 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 203 | NV105230935 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 204 | NV105230936 | 2/28/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 229 | NV105230948 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 230 | NV105230949 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 231 | NV105230950 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 232 | NV105230951 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 233 | NV105230952 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 234 | NV105230953 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 235 | NV105230954 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 236 | NV105230955 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 237 | NV105230956 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 238 | NV105230957 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 239 | NV105230958 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| TLCN 240 | NV105230959 | 2/27/2021 | BIG SMOKY HOLDINGS INC | 9/1/2023 | ACTIVE |
| JWH-1 | NV105237340 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-2 | NV105237341 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-3 | NV105237342 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-4 | NV105237343 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-5 | NV105237344 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-6 | NV105237345 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-7 | NV105237346 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-8 | NV105237347 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-9 | NV105237348 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-10 | NV105237349 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-11 | NV105237350 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-12 | NV105237351 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-13 | NV105237352 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-14 | NV105237353 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-15 | NV105237354 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-16 | NV105237355 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-17 | NV105237356 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |

---

---

| | |
|:---|:---|
| ![](foot_logo.jpg) | 4-18 |

---

**TECHNICAL REPORT – TLC Property, Nevada, USA**

Table 4.1 (Cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Claim Name** | **Serial Number** | **Date of Location** | **Claimant Name<br> (Owner)** | **Expiration Date** | **Status** |
| JWH-18 | NV105237357 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-19 | NV105237358 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-20 | NV105237359 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-21 | NV105237360 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-22 | NV105237361 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-23 | NV105237362 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-24 | NV105237363 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-25 | NV105237364 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-26 | NV105237365 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-27 | NV105237366 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-28 | NV105237367 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-29 | NV105237368 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-30 | NV105237369 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-31 | NV105237370 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-32 | NV105237371 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-33 | NV105237372 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-34 | NV105237373 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-35 | NV105237374 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-36 | NV105237375 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-59 | NV105237398 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-60 | NV105237399 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-61 | NV105237400 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-62 | NV105237401 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-63 | NV105237402 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-64 | NV105237403 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-65 | NV105237404 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-66 | NV105237405 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-77 | NV105237416 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-78 | NV105237417 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-79 | NV105237418 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-80 | NV105237419 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-81 | NV105237420 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-82 | NV105237421 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-83 | NV105237422 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-84 | NV105237423 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-85 | NV105237424 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-86 | NV105237425 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-87 | NV105237426 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-88 | NV105237427 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |

---

---

| | |
|:---|:---|
| ![](foot_logo.jpg) | 4-19 |

---

**TECHNICAL REPORT – TLC Property, Nevada, USA**

Table 4.1 (Cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Claim Name** | **Serial Number** | **Date of Location** | **Claimant Name<br> (Owner)** | **Expiration Date** | **Status** |
| JWH-89 | NV105237428 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-90 | NV105237429 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-91 | NV105237430 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-92 | NV105237431 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-93 | NV105237432 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-94 | NV105237433 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-95 | NV105237434 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-96 | NV105237435 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-97 | NV105237436 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-98 | NV105237437 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-99 | NV105237438 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-100 | NV105237439 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-101 | NV105237440 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-102 | NV105237441 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-103 | NV105237442 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-104 | NV105237443 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-105 | NV105237444 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-106 | NV105237445 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-107 | NV105237446 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-108 | NV105237447 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-109 | NV105237448 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-110 | NV105237449 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-111 | NV105237450 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-112 | NV105237451 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JWH-113 | NV105237452 | 5/1/2021 | 1301420 NEVADA CORPORATION | 9/1/2023 | ACTIVE |
| JCM 9 | NV105263093 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| JCM 10 | NV105263094 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| JCM 11 | NV105263095 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| JCM 12 | NV105263096 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| JCM 13 | NV105263097 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| JCM 14 | NV105263098 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| JCM 15 | NV105263099 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| JCM 16 | NV105263100 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| JCM 17 | NV105263101 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| JCM 18 | NV105263102 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| JCM 19 | NV105263103 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| JCM 20 | NV105263104 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| JCM 21 | NV105263105 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| JCM 22 | NV105263106 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |

---

---

| | |
|:---|:---|
| ![](foot_logo.jpg) | 4-20 |

---

**TECHNICAL REPORT – TLC Property, Nevada, USA**

Table 4.1 (Cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Claim Name** | **Serial Number** | **Date of Location** | **Claimant Name<br> (Owner)** | **Expiration Date** | **Status** |
| JCM 23 | NV105263107 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| JCM 24 | NV105263108 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| JCM 25 | NV105263109 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| JCM 26 | NV105263110 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| JCM 27 | NV105263111 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| JCM 28 | NV105263112 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| JCM 29 | NV105263113 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| JCM 30 | NV105263114 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| JCM 31 | NV105263115 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| JCM 32 | NV105263116 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| JCM 33 | NV105263117 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| JCM 34 | NV105263118 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| JCM 35 | NV105263119 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| JCM 36 | NV105263120 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| JCM 37 | NV105263121 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| JCM 39 | NV105263122 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| JCM 41 | NV105263123 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| JCM 43 | NV105263124 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| JCM 45 | NV105263125 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| JCM 1 | NV105789949 | 8/15/2022 | TONOPAH LITHIUM CORP | 9/1/2023 | FILED |
| JCM 2 | NV105789950 | 8/15/2022 | TONOPAH LITHIUM CORP | 9/1/2023 | FILED |
| JCM 3 | NV105789951 | 8/15/2022 | TONOPAH LITHIUM CORP | 9/1/2023 | FILED |
| JCM 4 | NV105789952 | 8/15/2022 | TONOPAH LITHIUM CORP | 9/1/2023 | FILED |
| JCM 5 | NV105789953 | 8/15/2022 | TONOPAH LITHIUM CORP | 9/1/2023 | FILED |
| JCM 6 | NV105789954 | 8/15/2022 | TONOPAH LITHIUM CORP | 9/1/2023 | FILED |
| JCM 7 | NV105789955 | 8/15/2022 | TONOPAH LITHIUM CORP | 9/1/2023 | FILED |
| JCM 8 | NV105789956 | 8/15/2022 | TONOPAH LITHIUM CORP | 9/1/2023 | FILED |
| JCM 46 | NV105263126 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| JCM 55 | NV105263127 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |
| JCM 56 | NV105263128 | 9/3/2021 | 1074654 NV LTD | 9/1/2023 | ACTIVE |

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| ![](foot_logo.jpg) | 4-21 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

4.4 Permits, Surface Use and Royalties

American Lithium operated under an Exploration Plan of Operations (EPO) drilling permit with the Bureau of Land Management (BLM) to complete the 2022 drilling. The EPO was finalized December 2021 in accordance with BLM Surface Management Regulation 43 Code of Federal Regulations (CFR) 3809, as amended, under BLM case file number NVN-100125. A bond in the amount of $1,458,819 was placed and accepted by the BLM Nevada State Office (NVB002644) on January 11, 2022 for surface reclamation. The EPO permitted 1074654 Nevada Corp (Now Tonapah Lithium Corp) the allowable disturbance of up to 111.4 acres to conduct mineral exploration-related activities within the Project area. The total disturbance included acres associated with previous TLC Notice NVN-097429. The EPO requires annual updates in April and continued exploration is planned.

Should the project proceed to a notice level of operations (production) an updated Plan of Operations with all the construction and mining details will need to be agreed upon with BLM, likely requiring additional environmental studies and conditions. For operations at the production level, the State of Nevada requires royalty obligations based on a sliding-scale tax between 2% and 5% of profits.

4.5 Environmental Liabilities

An EA (#DOI-BLM-NV-BO20-2022-0003-EA) and a Finding of No Significant Impact (FONSI) were considered during the approval of the EPO. The BLM's approval of the EPO is subject to compliance with the operating, reclamation, and monitoring measures identified in the EPO, the performance standards set forth in 43 CFR 3809.420, and the Applicant-Committed Environmental Protection Measures (EPMs) as set forth in the EA and restated in the EPO's Decision under Conditions of Approval.

A report is required annually in April by the BLM on Project activates and plans. All 2022 drill holes were sealed as per regulations prior to the drill rig moving off site and at present approximately 70% of all drill pads and sumps have been back filled and regraded beginning the reclamation process.

4.6 Other Significant Factors and Risks

The Authors is unaware of significant factors or risks that may materially restrict American Lithium from its right and ability to perform work on the Property.

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| ![](foot_logo.jpg) | 4-22 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

5 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY

5.1 Accessibility

The Property is approximately 6.2 miles (10 km) to the northwest of Tonopah, Nevada, and 81 miles (130 km) to the northeast of Bishop, California (Figures 4-1 and 5-1). The Property can be accessed from several different directions, but the most common access is from paved State Highway 89 (also called Gabbs Pole Line Road) via two dirt roads that travel into the project area. These dirt roads are approximately 4.2 miles (7 km) (Radar Road) and 6.4 miles (10.3 km) to the north of junction State Highway 89 and United States Highway US 95 (US 6). This junction occurs 2.5 miles (4 km) west of the town on Tonopah. State Highway 89 continues north toward the Crescent Dunes Picnic Area and Crescent Dunes solar project. There are several dirt roads offering good four-wheel drive and ATV access throughout the Property. A good four-wheel drive is recommended as many of the dirt roads have deep sand sections.

5.2 Climate

The town of Tonopah, Nevada, is located 1,840 m (6,036.7 ft) above mean sea level (amsl) and the project area ranges from 5,180 to 5,880 ft amsl (Climate-Data.org, 2020, para. 1). The Köppen-Geiger Climate Classification system designates this area as BWk: B – arid; W – desert; and k – cold arid, thus making the Tonopah area effectively a cold high desert area (Climate Change & Infectious Diseases, 2019; Weatherbase, 2020, para. 2).

July is the warmest month in the Tonopah region, with an average temperature of 21.6°C, (70.89<sup>o</sup>F) while the coldest month of the year is January, with an average temperature of -1.3°C (29.66<sup>o</sup>F). August has the highest average precipitation, with 18 mm (0.7 inches), and December has the lowest at 7 mm (0.27 inches) (Climate-Data.org, 2020, paras. 3-5). April is the windiest month with average winds as high as 9 miles per hour. (Weatherspark, 1993).

Recent climate data can be collected at the Quima Peak (Western Regional Climate Center [WRCC] 2020) Remote Automatic Weather Station (RAWS) and Desert Research Institute. (BLM, 2021)

5.3 Local Resources and infrastructure

The town of Tonopah is approximately 6.2 miles (10 km) southeast of the Property. A range of services are available, such as: hotel accommodation, schools, restaurants, fuel, tourism, and general shopping. Mount Grant General Hospital, located in Hawthorn, Nevada, is the closest hospital, and is located approximately 105.6 miles (170 km) from Tonopah. There is a history of mining and exploration in the Tonopah area, and as such, skilled labour and equipment is available in the area, as well as throughout Nevada.

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| ![](foot_logo.jpg) | 5-1 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

Tonopah is located on highways US 95 and US 6. US 95 connects Reno, Nevada, from Interstate 80, to Las Vegas, Nevada, on Interstate 15. Highway US 6 runs east/west to the regional airfield which can accommodate east/west air transportation. (Tonopah, Nevada, 2020, para. 3).

Tonopah is equidistant between two international airports: McCarran International Airport, located in Las Vegas, Nevada, and Reno International Airport, located in Reno, Nevada. Both centers have major car and truck rental options available, as well as any necessary amenities.

Infrastructure is available in the general area of the Property. Power is available along the west side of US 95, which runs northwest to southeast, approximately 4.9 miles (8 km) to the southwest of the Property, or from a powerline that runs past the Crescent Dunes solar plant approximately 7.4 miles (12 km) to the northwest of the Property along the Gabbs Pole Line Road. Cell service is available through much of the Project area with most cell providers.

Union Pacific Railroad, which ships commodities such as non-metallic minerals, has two main lines that run through Nevada. One in the northern part of the state, with stops at Reno, Flanigan, Winnemucca, Elko, and Wells, linking central California with Salt Lake City, Utah. The other runs through Las Vegas, in the southern part of the state, and connects Los Angeles/Long Beach, CA with Salt Lake City, Utah, and onwards to the Union Pacific transcontinental line and destinations east (Union Pacific, 2019, paras. 2, 4, and 6).

Local water supply options have not been thoroughly studied. Surface waters in the Project Area are ephemeral where the local topographic relief creates a network of dry creeks and washes. There are no intermittent or perennial streams and surface water is dependent on seasonal precipitation. Eleven springs were identified in the approximate five-mile radius of the Property. Some of the springs have water rights and are used for commercial, stock watering, or other uses. (BLM, 2021)

Groundwater was encountered during the 2022 drilling campaign at approximately 470 feet (Water Monitor well GW6 at Hole TLC-2205C) in the extreme eastern Property and at 580 feet (Hole TLC-2214) in the extreme west the Property.

5.4 Physiography

The Property is within the Basin and Range Region of western North America. The Property is on the flanks of the San Antonio Mountain Range grading into the Big Smoky Valley (a large basinal playa like complex). The claim blocks slopes gently to the west with the upper portion lying at an elevation of approximately 5,905 ft (1,800 m) amsl, and the lower portions in the vicinity of the Gabbs Pole Line Road being approximately 4,839 ft (1,475 m) amsl. The topography can best be characterized as gentle pediment incised by anastomosing drainages. The Property has typical desert vegetation with sagebrush and greasewood with occasional grasses in the spring months of wetter years.

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| ![](foot_logo.jpg) | 5-2 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

![](fig5_1.jpg)

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| ![](foot_logo.jpg) | 5-3 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

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| 6 | HISTORY |

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A summary of historical work completed on the TLC Property has been compiled through discussions with American Lithium, and prior technical reports published by Stantec (Turner, 2021; Loveday, 2021). The following is a list of exploration activity organized in chronological order.

6.1 Exploration

**Prior to 2017**

There is limited information on property activity and ownership prior to 2017. There is some evidence that indicates claims may have been held briefly in the middle area of the property in the 1960s and 1970s, and again in 2006. There are no records of work being completed on the claims during these periods. In the northern area of the Property, records from Nye County Recorder plat maps show that the only previous claims on the Property was a claim block from the early 1980s that was termed the "Ant" claims (Turner, 2021).

**2017 to 2018**

In 2017, Nevada Alaska completed reconnaissance sampling of outcrops from the Property area. All analyses were completed by ALS laboratories (ALS) in Reno, Nevada. To assess the optimal analytical method to use, three duplicate samples were analyzed by two different analytical methods; standard Aqua Regia (ME-ICP41), and 4 acid digestion followed by ICP (ME-ICP61). The results from the two analytical methods were remarkably similar with the results from ME-ICP 41 averaging 1,346 ppm Li, while the results from ME-ICP 61 averaged 1,296 ppm Li. It was determined that there was greater consistency with respect to the results from ME-ICP 41, and therefore this was the method selected for sample testing. Samples were tested in three batches with results shown below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· February 2017: Ten samples were analyzed that ranged in concentrations from 50 to 1,810 ppm Li with an
average of 695 ppm Li;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Early March 2017: Thirty-four samples were analyzed that ranged in concentrations from 220 to 1810 ppm
Li with an average of 840 ppm Li; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Late March 2017: Nine samples were analyzed that ranged in lithium concentrations from 120 to 950 ppm
Li with an average of 501 ppm Li.

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| ![](foot_logo.jpg) | 6-1 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

**2018 to 2019**

American Lithium completed a surface sampling program on the Property in the Fall of 2018 collecting a total of 24 rock samples. Samples were collected from either outcrop or float, labelled accordingly, logged with geological detail, GPS location recorded and lastly, delivered to an ISO 9001 and ISO/IEC 17025 certified commercial laboratory, ALS laboratories in Reno, Nevada for analyses. The analytical results from the sampling program ranged from 129.5 to 1,380 ppm Li, and the average grade of the samples taken was 656.5 ppm Li. The float samples ranged from 129.5 to 1,380 ppm Li, with a mean grade of 608.5 ppm, while the outcrop samples graded from 131 to 1,340 ppm Li, with a mean grade of 704.5 ppm.

In the fall of 2019, Jana Campbell Mineral Exploration completed a semi qualitative assessment in the northern area of the Property with a handheld instrument that implemented Laser Induced Breakdown Spectroscopy (LIBS) to explore for lithium. Following confirmation of lithium in the project area, two trenches were excavated by hand, logged, and sampled in November 2019. A total of 89 samples were collected from the trenches using a gas Hand Auger and each sample weighed approximately 1 to 2 pounds. Samples were analyzed by American Assay Laboratory (AAL) located in Sparks Nevada. Further details on the 2019 trenching program and analyses can be found in the 2021 Technical Report on the Crescent Dunes Lithium Property by Turner (Turner, 2021).

**2019 to 2020**

American Lithium completed a Diamond drill core and Reverse Circulation (RC) drilling campaign from February 2019-2020. The first campaign totaled 23 vertical holes; 18 RC holes and 5 core holes, and the campaign in the winter of 2020 completed an additional 6 vertical RC holes.

All drilling on the Property was completed by Harris Exploration Drilling and Associates (Harris) of San Diego, California. The 2019 drilling was completed using a 5 ½ inch (in) (13.5 cm) hammer bit and the 2020 drilling was completed using standard reverse circulation (RC) method. An American Lithium geologist was on site during the drilling and sampling operations and the water table was not encountered. All drilling completed was documented with location, depth, date, and hole type. The 2019-2020 campaign hole collar locations were recorded using a handheld GPS device and collar elevations were adjusted to closely match the elevations of US Geological survey open-source topography data received as raster digital data (1 arc-second resolution).

RC chip samples were transported daily by American Lithium geologists to the core logging facility in Tonopah, Nevada. At the rig, five-foot (5 ft) (1.52 m) intervals were collected as a single sample, assigned a unique sample number by drill hole and footage. Detail logging and LIBS analyses was completed from select material and chip trays. Once received at the warehouse, sample count and sequence were verified and logged. Core was boxed, labeled, and transported by the drilling crew daily to American Lithium's core logging facility in Tonopah, Nevada. American Lithium personnel inventoried and logged the core at the facility and sample intervals were selected by geologic or alteration breaks, or by 5 ft (1.5 m) breaks. The core was also split whereby one half of the core was sent for analyses and the remaining half retained for archive.

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| ![](foot_logo.jpg) | 6-2 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

American Lithium had a QA/QC program in place for both RC and core samples, and analyses was completed by an ISO 17025-2005 accredited lab, AAL located in Sparks, Nevada. A total insertion rate of QC samples was 12.8% which was divided as follows: 60% CRM; 20% blank; and 20% repeats. Rig duplicates were collected every 50 ft (15 m), nominally 10%, and used for a second laboratory comparison by similar analytical methods. In addition, an assessment of twinned RC holes relative to core holes was completed to compare the lithium concentrations by depth for the two styles of drilling. Further details on the sample handling, QA/QC and laboratory analyses methods can be found in the prior Technical Report (Loveday, 2021).

In 2020, the Stantec completed confirmation sampling on the Property. Samples were approximately 1-3 kg in weight, were sealed in a plastic bag in the field and then transported to Bureau Veritas Mineral Laboratories (Bureau Veritas) in Reno, Nevada. A total of twelve samples were analyzed by 4 acid digestion through ICP-ES/ICP-MS analyses, and two core samples were analyzed for specific gravity. Further details on the QA/QC and laboratory analyses methods can be found in the prior Technical Report (Loveday, 2021).

**2021**

Jana Campbell Mineral Exploration completed a surface mapping program during Summer 2021. The results of the mapping program can be found in the 2021 Technical Report on the Crescent Dunes Lithium Property by Turner (Turner, 2021).

6.2 Historical Estimates

Historic estimates of lithium have been reported from lithium clay deposits within the Property. Loveday (2021) reported the base case estimates shown in Table 6.1., effective April 15, 2020.

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| ![](foot_logo.jpg) | 6-3 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

#### Table 6.1<br> Historic Lithium Estimates – U.S. Customary Units

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|:---|:---|:---|:---|:---|:---|:---|
| **Cutoff** <br> **Li (ppm)** | **Volume**<br> **(Myd<sup>3</sup>)** | **Tons**<br> **(Mst)** | **Li**<br> **(ppm)** | **Million short tons (Mst)** | **Million short tons (Mst)** | **Million short tons (Mst)** |
| **Cutoff** <br> **Li (ppm)** | **Volume**<br> **(Myd<sup>3</sup>)** | **Tons**<br> **(Mst)** | **Li**<br> **(ppm)** | **Li** | **Li<sub>2</sub>CO<sub>3</sub>** | **LiOH.H<sub>2</sub>O** |
| **Measured** | **Measured** | **Measured** | **Measured** | **Measured** | **Measured** | **Measured** |
| **400** | **523** | **749** | **932** | **0.70** | **3.72** | 4.24 |
| **Indicated** | **Indicated** | **Indicated** | **Indicated** | **Indicated** | **Indicated** | **Indicated** |
| **400** | **328** | **470** | **898** | **0.42** | **2.23** | 2.54 |
| **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** |
| **400** | **851** | **1219** | **919** | **1.12** | **5.95** | 6.78 |
| **Inferred** | **Inferred** | **Inferred** | **Inferred** | **Inferred** | **Inferred** | **Inferred** |
| **400** | **279** | **400** | **912** | **0.36** | **1.92** | 2.18 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· CIM definitions are followed for classification of Mineral Resource.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Mineral Resource surface pit extent has been estimated using a lithium carbonate price of US10,000 US$/tonne and mining cost of US$2.00 per tonne, a lithium recovery of 80%, fixed density of 1.70 g/cm<sup>3</sup> (1.43 tons/yd<sup>3</sup>)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Conversions: 1 metric tonne = 1.102 short tons, metric m<sup>3</sup> = 1.308 yd<sup>3</sup>, Li<sub>2</sub>CO<sub>3</sub>:Li ratio = 5.32, LiOH.H<sub>2</sub>O:Li ratio = 6.05

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Totals may not represent the sum of the parts due to rounding.

The estimates presented in Table 6.1 were prepared from a 3D block model of the lithium clay deposit found near surface of the Property. The model was built using available surface mapping and the results from 24 reverse circulation (RC) holes and 5 diamond core holes, totaling 29 drill holes. Estimates were constrained to the southeast of the current footprint of the Property due to ownership being limited to this area at the time. The geologic model was built by separating the model area into five fault blocks and estimating lithium grades across fault boundaries using a grade trend surface and an inverse distance squared algorithm.

The estimates were reported from an economic pit shell using a base case cutoff grade of 400 ppm lithium. The cutoff grade calculation reflected the expected mining and processing costs as well as expected revenue generated from lithium to produce a battery-grade lithium carbonate product at the effective date of April 15, 2020. The author is of the opinion that the estimates were reasonable and reflected the available information and market conditions for lithium at the time.

The Authors has not done sufficient work to classify these historical estimates as current mineral resources and the issuer is not treating the historical estimate as current mineral resources.

6.3 Metallurgical Testing

Metallurgical testing undertaken in the Property and described in the previous technical report (Loveday, 2021) indicated that the lithium mineralized clay is responsive to direct acid leaching with no prior heat treatment.

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| ![](foot_logo.jpg) | 6-4 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

Indicative agitated leach tests, which are a style of direct acid leach, showed that over 90% of the lithium can be extracted in less than 60 minutes using acid leaching only. Table 6.2 shows the results from an agitated leach test with measurements taken at 10, 20, and 30 minutes. All measurements reported lithium extractions of greater than 90%.

#### Table 6.2<br> Agitated Leach Test Results

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| **Leach Time [minutes]** | **Lithium Extraction [%]** |
| **10** | 92 |
| **20** | 92 |
| **30** | 94 |

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The results in Table 6.2 showed that no roasting/calcining of the mineralized material is required to efficiently extract the lithium for the ultimate production of a lithium hydroxide monohydrate or lithium carbonate product.

The test results have led to the development of a proposed processing flow sheet for a battery quality lithium hydroxide monohydrate product, which is simplified into the illustration shown in Figure 6-1.

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| ![](foot_logo.jpg) | 6-5 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

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| ![](foot_logo.jpg) | 6-6 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

7 GEOLOGIC SETTING AND MINERALIZATION

7.1 Regional Geology

The Tonopah mining district lies to the east of a zone of disrupted structure, known as the Walker Lane tectonic belt, which separates the Sierra Nevada batholith from the Basin and Range province in the Great Basin of Nevada (Bonham and Garside, 1979). The Great Basin is a tectonic region west of the Rocky Mountains, that spans from southern Oregon to southern California and Arizona that underwent crustal extension and elevated thermal activity in the mid-Tertiary that developed the basin and range physiography. The ranges were comprised of fault-bounded mountain ranges that were dominantly composed of Proterozoic and Paleozoic sedimentary rocks, while the basins were filled with volcanic deposits and erosional detritus from the ranges.

The TLC Property is in the Tonopah mining district, which is centred around the town of Tonopah in Nye and Esmeralda Counties, Nevada. Within the mining district is the San Antonio Mountain range, a Tertiary aged complex that underwent intermittent volcanism between 35 m.y. and 10 m.y (Bonham and Garside, 1979). The TLC Property is directly to the west of this mountain range and has undergone several episodes of plutonic and volcanic activity. Plutonism in this area date to the Late Cretaceous, with intrusion of the Fraziers Well pluton and associated porphyry dykes (Bonham and Garside, 1979). These intrusions are shown as Kmi on Figure 7-1. Basin and Range faulting in the Tonopah area is estimated to have commenced approximately 16 to 17 m.y. ago, as indicated by the age of basinal deposits of the Siebert Formation, and the extrusion of olivine trachyandesite (Bonham and Garside, 1979). The Siebert Formation is composed of fluvatile and lacustrine epiclastic conglomerates, sandstone, siltstone, and lesser quantities of subaerially and subaqueously deposited tuffs (Bonham and Garside, 1979). Outcrops of the Siebert Formation are shown on Figure 7-1 as Ts3. North-trending faults in the area are estimated to be coeval with Basin and Range faulting (Bonham and Garside, 1979). There is evidence in the general areas of additional plutonism as the Siebert Formation is cut by intermediate (Ta2) to felsic plutons (Tr3) as shown on Figure 7-1.

7.2 Local Geology

The local geology of the Property, as it is currently known, is shown on Figure 7-2. Surface mapping conducted at the southern half of the Property and throughout most of the Property is generally a Quaternary-aged flat alluvial outwash plane. The outwash plane is interspersed with shallow washes draining towards the west. The shallow washes partially expose underlying fines-dominant sediments and lithic tuffs of the Miocene-age Siebert Formation. Exploration drilling on the Property shows the outwash plane surface alluvium to have an average thickness of 22 ft (6.7 m). Alluvium ranges from 3 to 157 ft, with the thicker alluvium in the north regions of the property. Bordering the Property along the east-central edge is a predominant rhyolite intrusion, other volcanics occur at the southeast, northeast, and northwest Property edges.

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| ![](foot_logo.jpg) | 7-1 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

![](fig7_1.jpg)

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| ![](foot_logo.jpg) | 7-2 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

![](fig7_2.jpg)

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| ![](foot_logo.jpg) | 7-3 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

The dominant lithology below the alluvial cap varies throughout the Property. Below the alluvial cap, lithology as observed from drill hole records, are finely laminated claystone beds with lenses of sandstone and conglomerate with occasional volcanic tuff and ash layers. Collectively, this mixed unit of lacustrine sedimentary beds and minor volcanics is referred to as claystone or "upper claystone". Underlying the upper claystone are tuffaceous sandstones and conglomerates collectively referred to as the basal tuff marker beds, which are grouped with additional lower claystone units. The basal tuff marker beds are more pronounced in the east and southeast areas of the Property. New drilling to the west and northwest demonstrated a continuation of the alternating clays and tuffs with additional claystone below the basal tuff marker bed. These claystone's below and including the basal tuff marker beds are collectively referred to as "lower claystone". The lower claystone's suggests a deepening of a paleo basin westward. Below the lower claystone (basal tuff marker bed and deeper claystone) drilling has intercepted both tuffaceous crystalline basement and limestone (referred to as basement).

Ten (10) significant regional fault blocks were interpreted from the exploration data on the Property. Blocks 1 through 5 (southern blocks) are at the south end of the property, 6 and 7 (central blocks) at the center, and 8 through 10 (northern blocks) at the north. Regional blocks are more complex (additional smaller structural faults and/or features exist) and further review and studies are needed to better define the Property. The stratigraphy is additionally complex with Tertiary volcanic intrusions and tuffs occurring simultaneously with clastic paleo basin deposition within a region of ongoing typical Basin and Range faulting.

The northern blocks are divided from the central blocks by a normal fault (F2) with possible east-west strike-slip displacement as shown in Figure 7-2. The northern blocks are further separated by two normal high angle (northeast-southwest trending) faults that envelope a central downthrown block (block 9) that is interpreted as a paleo sub basin with a thickening of clay deposits.

South of the F2 fault, the central and southern regional blocks are separated by sets of both north-south and east-west trending high angle faults. The central and southern blocks are divided east to west by a dominant north-south trending fault (F1) with an average displacement of approximately 500 ft (152.4 m) of displacement in the south. Here the F1 fault separates shallower higher grade (greater than 500 ppm Li) lithium claystone in the east from same high grade lithium claystone in the west.

Eastern blocks (central block 7 and southern block 2) have elevated lithium concentrations occurring in the surficial alluvial, underlying claystone (upper claystone), and the basal tuff conglomerate units (grouped with lower claystone's for modeling purpose). Here lithium grades are highest and most consistent in the upper claystone beds. In the western blocks (central block 6 and south block 1) there are additional elevated lithium concentrations at depth in lower claystone. The southern block 3 is a horst type block of volcanics interpreted as containing no claystone. Southern block 5 contains a shallow basal tuff conglomerate and block 4 appears to be a down dropped graben.

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| ![](foot_logo.jpg) | 7-4 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

The claystone and basal tuff conglomerate units are interpreted to be generally flat lying with a southwest dip. In surficial outcrops dips ranged from 29° southeast, 10° south, and 5° southwest with the variation interpreted as soft sediment deformation and local fault flexure. Figure 7-3 shows two generalized geological cross sections (A-A' and B-B') through the Property. Cross Section A-A' is oriented looking northeast, and Cross Section B-B' is oriented looking towards the north-northwest. The cross sections have a vertical exaggeration of 2:1.

Fault displacement on the property is estimated using bedding trends from available drill holes and displacement can vary up to hundreds of feet on the same fault plane for some. On Figure 7-2 the Property's faults displacements are the estimated averages along the faults' length. The northern interpreted graben (block 9) has an average displacement of approximately 300 ft (91.4 m) on the east and approximately 75 ft (22.9 m) on the west. The F2 fault dividing the north and central blocks has an average displacement of approximately 250 ft (76.2 m) where labelled in Figure 7-2. The F1 fault separating the central and southern block from east to west varies in displacement from only 10 ft (3.0 m) of displacement in the central block to approximately 500 ft (152.4 m) in the south. Other approximate relative displacements from high-angle faults enveloping fault blocks are labelled in Figure 7-2.

7.3 Mineralization

Elevated lithium concentrations occur in eastern regional blocks on the property in the surface alluvial, underlying claystone (upper claystone), and basal tuff unit. Elevated lithium concentrations also occur within deeper clay units (lower claystone) in the western blocks 1 and 6 and northern block 9. The highest and most consistent lithium grades occur in the upper claystone beds that are located east of the F1 fault. Samples taken from the claystone at similar depths located west of the F1 Fault contain significantly less lithium (less than 400 ppm). East of the F1 fault, the lithium concentration is highest in a zone of about 150 ft (45.7 m) above the basal tuff; the lithium concentration tends to decrease higher in the sequence to the base of the alluvium.

The overall footprint of mineralized clays, with lithium concentrations greater than 500 ppm, is 7,500 acres (3,035 hectares) extending from just below surface weathering to a depth of approximately 1,000 ft (304.8 m) below surface.

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| ![](foot_logo.jpg) | 7-5 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

![](fig7_3.jpg)

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| ![](foot_logo.jpg) | 7-6 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

8 DEPOSIT TYPES

Lithium deposits are hosted in pegmatites, continental brines, and clays. Where observed, elevated lithium concentrations in clay deposits occur in hydrologically closed basins that contain silicic volcanic rocks. These deposits are commonly ash-rich, lacustrine rocks that contain swelling clays (Asher-Bolinder, 1991). Common accessory rocks include volcanic flows and detritus, alluvial-fan and -flat and lacustrine rocks (Asher-Bolinder, 1991).

The USGS presented a descriptive model of lithium In smectites of closed basins in the 2011 Open File 11A. This model, identified as Model 25l.3(T) in the publication, proposed three forms of genesis for clay lithium deposits: the alteration of volcanic glass to lithium-rich smectite; precipitation from lacustrine waters; and incorporation of lithium into existing smectites. In each case, the depositional/diagenetic model is characterized by abundant magnesium, silicic volcanics, and an arid environment (Asher-Bolinder, 1991).

Recent publications on the relationship between lacustrine sediments and brines in the Clayton Valley area by Coffey et al (2022) indicate the release of lithium in source rock clays within sedimentary basin fill bulk sediments upon hydration and increasing temperatures at depth. The experimental findings also indicate an increase in lithium concentrations within the bulk sediments with increasing depth. A 3-D schematic of the lithostratigraphic units that generally constitute the closed sedimentary basin of Clayton Valley is shown in Figure 8-1 (Coffey et al., 2022). Lithium enrichment within the subsurface sediments is hypothesized to occur through ionic exchange and ion adsorption under water-rock interactions.

Typical mineralized body dimensions for this deposit type are proposed to be up to several meters in thickness and to extend laterally by a few kilometers. The structural setting, host lithologies, and mineralization observed on the TLC Property is similar to the lithium in smectite clay model proposed by Asher-Bolinder (1991).

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| ![](foot_logo.jpg) | 8-1 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

![](fig8_1.jpg)

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| ![](foot_logo.jpg) | 8-2 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

9 EXPLORATION

The exploration and data that has occurred since the previous Technical Report (Loveday, 2021) is described in this section. Prior exploration is summarized in Section 6.

In 2020 a sonic drilling campaign completed 7 holes between November 1, 2020 and December 18, 2020. Five (5) holes were drilled central to the property and the remaining 2 were twins of older holes. The 2020 sonic holes were drilled by Boart Longyear using a 7" diameter sonic tool. In 2021 a reverse circulation (RC) drilling campaign of 6 holes was undertaken on the north end of the property between October 26, 2021 and December 2, 2021. The 2021 RC holes were drilled by Harris Exploration Drilling and Associates (Harris) of San Diego, California using a T-685 Schramm rig completing 5.5" diameter holes using standard RC methods.

In 2022 there were 29 RC holes, 10 diamond core holes, and 1 sonic core hole completed between January 8, 2022 and June 26, 2022. Additional holes to those listed above were completed in 2022 but not all information was available at the time of the effective date of this Technical Report. The 2022 RC holes were drilled by Harris, diamond core holes by First Drilling LLC of Montrose, Colorado using a LF-100 rig coring at either PQ3 (3.3" (122.6mm)) or HQ (2.5" (63.5 mm) diameter. The sonic core hole was drilled by Q&D Construction of Sparks, Nevada using a 6" diameter tool.

During the drilling campaign an American Lithium geologist oversaw the drilling and sampling operations. In 2022 some drill holes encountered groundwater in the deeper western RC holes and sonic holes where water was assumed to perched. Four (4) piezometers were being installed late in 2022 and the hydrogeologic details are not yet available.

In November 2021 Pioneer Exploration Consultants Ltd. (Pioneer) completed an airborne magnetic survey using an Unmanned Aerial Vehicle (UAV) over the TLC claims at the request of American Lithium. The details of the magnetic survey were recorded in an American Lithium UAV Aeromagnetic Survey Logistics Report (Pioneer, 2021). Three Levelled and Microlevelled Drone Magnetic Survey maps were generated from this report: Total Magnetic Intensity (TMI-RTP) in nT units, First Vertical Derivative (1VD) in nT/m units, and Analytical Signal (AS) in nT/m units. The magnetic survey covered only the southern half of the property and was not utilized for the purpose of resource estimation in this Technical Report.

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| ![](foot_logo.jpg) | 9-1 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

10 DRILLING

A combination of reverse circulation (RC), sonic core, and diamond core holes have been drilled on the TLC Property. Drilling began in 2019 and is planned to continue in the next few years. The previous technical report (Loveday, 2021) drillhole database included holes from the 2019 and 2020 winter drilling campaigns and consisted of 24 RC holes and 5 core holes totaling 29 drill holes. For this Technical Report update, an additional 53 drill holes were completed for a total of 82 drill holes used to define the mineral resource estimate as outlined in Section 14.

The additional 53 drill holes considered for this technical report includes the following: 7 sonic core drill holes during the 2020 summer campaign, 6 RC drill holes during the 2021 drilling campaign, and during the 2022 campaign: 1 sonic core, ten (10) diamond core, and twenty-nine (29) RC drill holes. Table 10.1 shows the list of drill hole locations used within the model with their details on year, depth, and type.

Data for the added 53 drillholes were provided as individual files for both lithology and laboratory assays by American Lithium staff. Lithology was received by either Excel or .dat files exported from Rock Ware Inc. software. The assay data was provided by excel spreadsheets often accompanied by the original laboratory PDF certificates. Information on sample depths and QA/QC samples were acquired from a combination of the files mentioned above and follow up communications with American Lithium staff. Stantec complied the individual data files into a an Excel and MinePlan software (v16.0.4) Torque database for insertion into a MinePlan geologic model.

In Table 10.1 lists the drill hole collar locations in Nevada State Plane Central Zone NAD83 coordinates. Hole locations are shown on Figure 10-1. The initial drill hole collar information was recorded using a handheld GPS device and collar elevations in UTM NAD83 or NAD27 meters. In Table 10.1 the hole original hole locations have been converted to State Plane NAD83 using either ESRI GIS or Expert GPS software. Elevations were adjusted to match the elevations of US Geological survey open-source topography data received as raster digital data (1 arc-second (10 meter) resolution). All holes are vertical.

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| ![](foot_logo.jpg) | 10-1 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

#### Table 10.1<br> TLC Property Drilling

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Hole Name | Year | Report | Easting (X)<br> NAD83 SP Central | Northing (Y)<br> NAD83 SP Central | Elevation (ft) | Total Depth (ft) | Hole Type | Azimuth and Dip |
| \*\* Used in Loveday (2021) Technical Report Model \* Additional drilling | \*\* Used in Loveday (2021) Technical Report Model \* Additional drilling | \*\* Used in Loveday (2021) Technical Report Model \* Additional drilling | \*\* Used in Loveday (2021) Technical Report Model \* Additional drilling | \*\* Used in Loveday (2021) Technical Report Model \* Additional drilling | \*\* Used in Loveday (2021) Technical Report Model \* Additional drilling | \*\* Used in Loveday (2021) Technical Report Model \* Additional drilling | \*\* Used in Loveday (2021) Technical Report Model \* Additional drilling | \*\* Used in Loveday (2021) Technical Report Model \* Additional drilling |
| C1901 | 2019 | \*\* | 1464408.474 | 20924110.99 | 5601.0 | 393 | Core | 0 / -90 |
| C1917 | 2019 | \*\* | 1462501.784 | 20926891.11 | 5540.7 | 408 | Core | 0 / -90 |
| C1919 | 2019 | \*\* | 1461758.623 | 20922837.24 | 5503.5 | 248 | Core | 0 / -90 |
| C1920 | 2019 | \*\* | 1464355.666 | 20926769.58 | 5614.0 | 343 | Core | 0 / -90 |
| C1921 | 2019 | \*\* | 1466849.019 | 20926504.63 | 5699.1 | 208 | Core | 0 / -90 |
| R1901 | 2019 | \*\* | 1464388.744 | 20924101.21 | 5601.0 | 345 | RC | 0 / -90 |
| R1902 | 2019 | \*\* | 1465233.08 | 20923428.65 | 5630.0 | 300 | RC | 0 / -90 |
| R1903 | 2019 | \*\* | 1466160.377 | 20923008.51 | 5669.9 | 340 | RC | 0 / -90 |
| R1904 | 2019 | \*\* | 1465670.961 | 20921983 | 5640.4 | 300 | RC | 0 / -90 |
| R1905 | 2019 | \*\* | 1464492.681 | 20921970.82 | 5589.1 | 300 | RC | 0 / -90 |
| R1906 | 2019 | \*\* | 1466796.23 | 20921857.52 | 5692.0 | 300 | RC | 0 / -90 |
| R1907 | 2019 | \*\* | 1465011.542 | 20921141.9 | 5626.0 | 300 | RC | 0 / -90 |
| R1908 | 2019 | \*\* | 1466545.409 | 20920555.48 | 5680.2 | 300 | RC | 0 / -90 |
| R1909 | 2019 | \*\* | 1465386.69 | 20920507.12 | 5644.3 | 255 | RC | 0 / -90 |
| R1910 | 2019 | \*\* | 1463391.622 | 20922440.83 | 5552.1 | 300 | RC | 0 / -90 |
| R1911 | 2019 | \*\* | 1463399.204 | 20921810.66 | 5544.9 | 300 | RC | 0 / -90 |
| R1912 | 2019 | \*\* | 1463445.319 | 20923684.5 | 5567.8 | 320 | RC | 0 / -90 |
| R1913 | 2019 | \*\* | 1465217.846 | 20924669.3 | 5638.3 | 300 | RC | 0 / -90 |
| R1914 | 2019 | \*\* | 1466069.639 | 20925158.54 | 5681.3 | 300 | RC | 0 / -90 |
| R1915 | 2019 | \*\* | 1466993.524 | 20925617.98 | 5707.8 | 300 | RC | 0 / -90 |
| R1916 | 2019 | \*\* | 1463716.6 | 20925199.81 | 5589.7 | 340 | RC | 0 / -90 |
| R1917 | 2019 | \*\* | 1462511.625 | 20926891.08 | 5541.2 | 440 | RC | 0 / -90 |
| R1918 | 2019 | \*\* | 1462563.926 | 20923175.68 | 5532.6 | 300 | RC | 0 / -90 |
| R2001 | 2020 | \*\* | 1459125.693 | 20921711.13 | 5401.5 | 400 | RC | 0 / -90 |
| R2002 | 2020 | \*\* | 1461429.281 | 20928916.67 | 5493.4 | 400 | RC | 0 / -90 |
| R2003 | 2020 | \*\* | 1463094.029 | 20929133.86 | 5536.6 | 400 | RC | 0 / -90 |
| R2004 | 2020 | \*\* | 1467757.51 | 20924505.91 | 5723.9 | 295 | RC | 0 / -90 |
| R2005 | 2020 | \*\* | 1459827.607 | 20924330.92 | 5448.8 | 455 | RC | 0 / -90 |
| R2006 | 2020 | \*\* | 1461422.781 | 20928936.39 | 5491.7 | 115 | RC | 0 / -90 |
| S20S1 | 2020 | \* | 1456384.801 | 20934379.6 | 5314.9 | 247 | Sonic | 0 / -90 |
| S20S2 | 2020 | \* | 1458022.806 | 20934462.35 | 5343.3 | 307 | Sonic | 0 / -90 |
| S20S3 | 2020 | \* | 1458577.613 | 20933183.95 | 5395.5 | 526 | Sonic | 0 / -90 |
| S20S4 | 2020 | \* | 1459582.087 | 20931249.26 | 5420.5 | 400 | Sonic | 0 / -90 |
| S20S5 | 2020 | \* | 1460806.099 | 20929831.33 | 5482.7 | 267 | Sonic | 0 / -90 |
| S20S6 | 2020 | \* | 1464372.375 | 20924115.06 | 5601.1 | 393 | Sonic | 0 / -90 |
| S20S7 | 2020 | \* | 1462534.605 | 20923165.52 | 5531.0 | 300 | Sonic | 0 / -90 |
| R2101 | 2021 | \* | 1466961.193 | 20947283.92 | 5851.2 | 540 | RC | 0 / -90 |

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| ![](foot_logo.jpg) | 10-2 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

Table 10.1 (Cont'd)

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Hole Name | Year | Easting (X)<br> NAD83 SP Central | Northing (Y)<br> NAD83 SP Central | Elevation (ft) | Total Depth (ft) | Hole Type | Azimuth and Dip |
| R2102 | 2021 \* | 1465262.189 | 20945380.31 | 5752.5 | 700 | RC | 0 / -90 |
| R2103 | 2021 \* | 1465118.535 | 20944029.5 | 5719.9 | 600 | RC | 0 / -90 |
| R2104 | 2021 \* | 1463111.389 | 20942464.9 | 5589.1 | 410 | RC | 0 / -90 |
| R2105 | 2021 \* | 1462576.017 | 20941213.21 | 5617.0 | 800 | RC | 0 / -90 |
| R2106 | 2021 \* | 1460083.344 | 20940998.38 | 5548.8 | 855 | RC | 0 / -90 |
| C2201 | 2022 \* | 1466628.946 | 20924091.52 | 5680.7 | 301 | Core | 0 / -90 |
| C2202 | 2022 \* | 1467577.74 | 20923183.34 | 5727.0 | 260 | Core | 0 / -90 |
| C2203 | 2022 \* | 1468175.648 | 20922080.1 | 5747.4 | 261 | Core | 0 / -90 |
| C2204 | 2022 \* | 1465473.232 | 20926277.81 | 5653.3 | 350 | Core | 0 / -90 |
| C2205 | 2022 \* | 1466840.245 | 20927572.55 | 5690.6 | 342 | Core | 0 / -90 |
| C2206 | 2022 \* | 1465466.746 | 20927567.69 | 5638.9 | 351 | Core | 0 / -90 |
| C2208 | 2022 \* | 1460688.686 | 20922477.26 | 5467.6 | 647 | Core | 0 / -90 |
| C2209 | 2022 \* | 1460698.966 | 20925438.01 | 5484.4 | 300 | Core | 0 / -90 |
| C2210 | 2022 \* | 1461874.52 | 20926052.09 | 5530.0 | 350 | Core | 0 / -90 |
| C2211 | 2022 \* | 1464213.237 | 20928823.42 | 5577.0 | 500 | Core | 0 / -90 |
| R2201 | 2022 \* | 1455845.02 | 20936542.8 | 5293.3 | 700 | RC | 0 / -90 |
| R2202 | 2022 \* | 1456892.321 | 20938910.24 | 5389.9 | 955 | RC | 0 / -90 |
| R2203 | 2022 \* | 1454567.273 | 20936355.77 | 5258.0 | 540 | RC | 0 / -90 |
| R2204 | 2022 \* | 1466546.756 | 20920569.96 | 5681.0 | 540 | RC | 0 / -90 |
| R2205 | 2022 \* | 1470180.18 | 20925929.8 | 5834.7 | 400 | RC | 0 / -90 |
| R2206 | 2022 \* | 1470711.173 | 20924200.33 | 5863.6 | 300 | RC | 0 / -90 |
| R2207 | 2022 \* | 1471284.114 | 20922408.33 | 5895.0 | 300 | RC | 0 / -90 |
| R2208 | 2022 \* | 1471785.936 | 20920772.3 | 5899.4 | 580 | RC | 0 / -90 |
| R2209 | 2022 \* | 1472102.027 | 20919546.39 | 5867.0 | 600 | RC | 0 / -90 |
| R2210 | 2022 \* | 1469693.733 | 20918975.4 | 5771.6 | 540 | RC | 0 / -90 |
| R2211 | 2022 \* | 1467728.145 | 20918920.32 | 5717.1 | 400 | RC | 0 / -90 |
| R2212 | 2022 \* | 1459048.002 | 20931848.29 | 5423.8 | 1000 | RC | 0 / -90 |
| R2213 | 2022 \* | 1460043.384 | 20922011.13 | 5445.4 | 725 | RC | 0 / -90 |
| R2214 | 2022 \* | 1452758.37 | 20923883.27 | 5210.8 | 635 | RC | 0 / -90 |
| R2215 | 2022 \* | 1456726.364 | 20921330.58 | 5338.0 | 980 | RC | 0 / -90 |
| R2216 | 2022 \* | 1465473.034 | 20928789.03 | 5620.5 | 440 | RC | 0 / -90 |
| R2217 | 2022 \* | 1456217.707 | 20918718.35 | 5336.4 | 975 | RC | 0 / -90 |
| R2218 | 2022 \* | 1463885.861 | 20919252.81 | 5586.0 | 500 | RC | 0 / -90 |
| R2219 | 2022 \* | 1452966.403 | 20919031.23 | 5256.7 | 955 | RC | 0 / -90 |
| R2220 | 2022 \* | 1459999.14 | 20919253.68 | 5451.5 | 700 | RC | 0 / -90 |
| R2221 | 2022 \* | 1456796.718 | 20923696.38 | 5330.8 | 645 | RC | 0 / -90 |
| R2222 | 2022 \* | 1457266.01 | 20925411.61 | 5361.9 | 600 | RC | 0 / -90 |
| R2223 | 2022 \* | 1457117.724 | 20926804.44 | 5359.3 | 700 | RC | 0 / -90 |
| R2224 | 2022 \* | 1459622.347 | 20927903.11 | 5441.0 | 780 | RC | 0 / -90 |

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| ![](foot_logo.jpg) | 10-3 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

Table 10.1 (Cont'd)

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Hole Name | Year | Easting (X)<br> NAD83 SP Central | Northing (Y)<br> NAD83 SP Central | Elevation (ft) | Total Depth (ft) | Hole Type | Azimuth and Dip |
| R2225 | 2022 \* | 1460301.014 | 20920514.53 | 5465.8 | 680 | RC | 0 / -90 |
| R2226 | 2022 \* | 1461274.989 | 20919256.37 | 5493.4 | 1000 | RC | 0 / -90 |
| R2227 | 2022 \* | 1462621.165 | 20919282.69 | 5537.5 | 600 | RC | 0 / -90 |
| R2228 | 2022 \* | 1459180.762 | 20919022.16 | 5426.6 | 720 | RC | 0 / -90 |
| R2229 | 2022 \* | 1461302.324 | 20920543.47 | 5500.7 | 940 | RC | 0 / -90 |
| S2201 | 2022 \* | 1461136.643 | 20929521.03 | 5483.8 | 320 | Sonic | 0 / -90 |

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|:---|:---|
| ![](foot_logo.jpg) | 10-4 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

![](fig10_1.jpg)

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|:---|:---|
| ![](foot_logo.jpg) | 10-5 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

Drilling was completed by the operators discussed in Section 9 and TLC geologists completed logging and sampling activities. Field drilling, logging, and sampling actives are described below. Further sampling details are discussed in Section 11.

**Reverse Circulation Drilling and Field Sampling**

RC drilling was performed with hammer-bit drilling and dual tube recovery system using injected drill fluids to maintain drill cutting flow to the surface, without contact with drill hole walls. All RC cuttings and fluids were passed through a cyclone equipped with an adjustable rotary splitter. This splitter produced one outlet for the sample with the remaining drill fluids and cuttings discharged to the drill sump. The drillers and/or samplers monitor the standard five-foot (1.5 m) sample run length including cutting surface lag and drill hole volume. Other parameters monitored and logged by the drill sampler include penetration rates, hole conditions, and fluid color. Rig lubricants were specified to exclude Li-bearing material.

Samples are collected in a numbered sturdy cloth bag stabilized in a bucket below the splitter sample outlet and are set and removed by the rig sampler as directed by the geologist and driller. Five-foot (5 ft) (1.52 meter) intervals are collected as a single sample, assigned a number by drill hole and footage, for example "TLC1901-220-225". A 2-3 kg sample volume was maintained. A rig duplicate sample, marked with the suffix "D," is collected every 50 ft. A 2mm wash screen is placed in the splitter discharge and retrieved with each sample. For each hole, chip trays with compartments assigned with consecutive 5-foot intervals are filled with screen washed chips and labeled with footages onsite by the drill sampler or American Lithium geologist.

**Diamond Core Drilling** 

Drill core was boxed at the drill rig and footages labeled by the drillers. Footage blocks are also inserted within boxes between the approximate 5-foot (5 ft) runs for further reference. Am American Lithium geologist monitored field processes early in the drill campaign and when onsite. Boxed core was retrieved and transported from the drill rig by American Lithium personnel and occasionally by the drillers to the TLC storage facility in Tonopah, Nevada for further QC and logging.

**Sonic Drilling** 

Sonic core samples arrive at the surface via plastic sheathing in approximate 3 ft lengths with footage labeled by the driller. The bags are then split length wise and laid down in a row for logging by the American Lithium geologist. After logging the continuous samples were placed in a numbered sturdy cloth bag and later samples are chosen for analysis. Extra samples were either staged onsite or transported to the TLC storage facility.

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| ![](foot_logo.jpg) | 10-6 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

11 SAMPLE PREPARATION, ANALYSES & SECURITY

11.1 Sampling Method and Approach

The drill samples were transported daily by the American Lithium geologist to the TLC storage facility (TLC facility) in Tonopah, Nevada where all final sample preparations were completed. This facility is east of town in a fenced, secured yard with a tall and 800 sq ft warehouse. All samples were either transported by American Lithium personnel to the laboratories in Reno, Nevada or picked up by laboratory personnel. No independent couriers were involved and sample submittal forms were generated with the lab deliveries. Specifics on the separate drill type samples are discussed below. Blank samples and certified reference material (CRM) standards are either stored at the facility or securely off-site. After analysis, extra samples including core, pulps, RC chips, and rejects were returned and archived at the TLC facility or a second secured storage facility in Tonopah.

**Reverse Circulation Samples**

Once onsite bagged samples were sealed, they are committed to analyses, with no splitting, logging, or examination allowed. The daily samples, once at the facility, were verified for sample count and sequence, logged in binders, and reviewed against the drill sampler's paper records. QA/QC samples including CRM standards, blank material, or sample duplicates were inserted about every tenth sample. RC chips are stored at the storage facilities for further detail logging as needed.

**Diamond Drill Core Samples**

Once the labeled drill core boxes arrive at the TLC facility, an American Lithium geologist cross checks and inventories the received boxes and footages. After box numbering is checked, core is first rinsed if needed, photographed, then measured for recovery and footages, and assessed for RQD properties.

Geologic logging is performed by American Lithium geologists in a mix of natural and artificial light. Lithology, color, grain size, hardness, and texture are recorded, and sedimentary structures, bedding details, sorting, and grading are described when present. This data is recorded on paper log forms and later entered into Rockware software by the geologist.

Sample intervals are assigned by the geologist after logging, based on either geologic breaks or approximate 5 ft (1.52m) lengths. Unique drill hole sample numbers are assigned with consecutive numbers. Consecutive numbers allow for the insertion of QA/QC materials throughout the drill hole sample stream, and all sample numbers are recorded. Core is given a brief examination with short wave UV light at this time, and color and intensity of any fluorescence is noted in the log.

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| ![](foot_logo.jpg) | 11-1 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

After core is logged, samples are split on site by sawing longitudinally with a diamond saw utilizing fresh water supply. One half of the core is placed in numbered sturdy cloth bags and the other half retained in the core box and stored for future reference or metallurgical sampling.

Quality assurance (QA) material was inserted approximately every tenth sample for an effective 10% insertion rate. Coarse prep blank material, duplicate samples, and CRM standards are used about equally. Coarse blanks provide a test on both sample preparation and analysis, and are composed of crushed cinder blocks, manufactured in Reno from quarried rhyolite. CRM standards are purchased from Moment Exploration Geochemistry (MEG) of Spring Creek, Nevada. Two CRM standards are used: Li.10.11 and Li.10.15. These are both quantified natural claystone from Clayton Valley, not synthetic material. Duplicate samples are cut as quarter-core from the assigned interval and submitted in the sample stream.

**Sonic Samples**

Sonic samples were collected after sonic core was logged at the drill site. Sample were labeled consecutively with QA/QC inserts located at either 20-foot or 50-foot intervals. Duplicates were not generated for the sonic samples. Both blanks and CRM Standard were inserted at 8% of total samples.

11.2 Laboratory Analyses

Two laboratories were used for the 2020 summer and 2022 drilling campaigns, American Assay Laboratory (AAL) and Paragon Geochemical (Paragon). Both laboratories submitted certified PDFs and electronic data deliverables (edd's) of sample test results to American Lithium after completion.

AAL of 1500 Glendale Ave, Sparks, Nevada, is an ISO 17025 accredited, Nevada Division of Environmental Protection (NDEP) approved lab, and is independent of the issuer. AAL conducts in house quality control with suitable blanks, CRM standards and duplicates. At the laboratory samples were crushed by fine crushing of dried sample to 90% passing 2 mm (0.07 in) (method FC-90), pulverize 1 kg (2.2 pounds) split to 85% passing 75 micron (method PV-1) and a 0.5 g (.017 oz) subsample under goes a 5 acid (HNO<sub>3</sub>, HF, hClO<sub>4</sub>,HCl and H<sub>3</sub>BO<sub>3</sub>) digestion and analyzed for 48 elements by Inductively Coupled Plasma -Optical Emission Spectroscopy and Mass Spectrometry (ICP-OES+ICP-MS; method ICP5AM48).

Paragon laboratory of 1555 Industrial Way Sparks, Nevada is an ISO/IEC17025 certified commercial laboratory with over 50 years of experience analyzing geological material and is independent of the issuer. Paragon conducts in house quality control with suitable blanks, CRM standards and duplicates. The analytical procedure used a 48-element suite; 0.25g Multi-Acid dig/ICP-MS with similar preparations as describe above.

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| ![](foot_logo.jpg) | 11-2 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

Stantec entered the primary analysis test results into a MinePlan software Torque database to be used to build the geologic model and resource estimate described in Section 14. No analyses were performed on five sonic holes (S20S1, S20S2, S20S5, S20S6, S20S7) and RC hole R2006. Analysis for hole R2219 was received after geologic modeling was completed though assay results from this hole were assessed as part of an overall QA/QC check.

11.3 Quality Control

The MinePlan Torque database primary assay for the new drill holes were generated directly from cut and paste insertion of lab edds and then footages appended from drilling records. This database was then given to American Lithium for review and again reviewed by the Qualified person with a 10% audit for lithology entries and a 20% audit for assays. The QA/QC database i.e. blanks, duplicates and CRM's, were similarly developed and reviewed. The QA/QC database consist of 5,560 samples from 53 additional drill holes completed since the prior Technical Report (Loveday, 2021) and 543 associated QA/QC samples.

Sample submittal forms were used as chain of custody (COC) documentation upon lab deliveries at each lab. Additional relevant security included emails that were generated from AAL that provided a more detail list of each sample received once they were confirmed, checked in and logged into their system. For Paragon one COC was available for review which included four drill holes.

The QA/QC database included an insertion rate of 9.8% QA/QC samples divided as follows: 3.5% CRM standards; 3.4% blanks; and 2.9% duplicates. RC rig duplicates were collected every 50 ft (15 m), nominally 10%, with many swapped for a CRM standard or blank. For core samples a QA/QC sample was inserted every 10<sup>th</sup> sample and for sonic samples QA/QC samples were inserted at 8% semi-randomly and did not include duplicates.

CRM standards used for QA/QC were purchased from Minerals Exploration and Environmental Geochemistry, Inc (MEG), of Reno, Nevada. CRM's include standard references for analytical accuracy confirmation and are made up of MEG-Li.10.11 (field label SRM1) and MEG-Li.10.15 (field label SRM2) and MEG-BLANK.14.03. On receipt of standards and blanks they are generally noted for their specified values and confidence range. A statistical 95% confidence range (approximately 2 standard deviations) is used for CRM standards. Lithium concentrations less than 50 ppm is acceptable for blank samples. Repeat samples (duplicates) were considered best within 10% of the original value but acceptable if root mean squared analysis (R2) is above 0.95.

**Blanks and Duplicates**

For the additional 53 drill holes American Lithium assayed 186 blanks and all where below 50 ppm, with one exception at 54.2 ppm and 77% of the blank samples were at or below 15 ppm. The blank lithium assay results are displayed in Figure 11-1 and arranged in order of date. A color strip in Figure 11-1 denotes which laboratory the analysis was conducted. One item of note is samples run between 96-157 as shown in Figure 11-1 (May 12, 2022-August 1, 2022) did not show any detectable lithium which is in contrast with the rest of the sample stream that detected some, though very small quantities of lithium. This same sample range is noted again within the CRM standards results described below.

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|:---|:---|
| ![](foot_logo.jpg) | 11-3 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

Duplicate analysis showed positive repeatability, with a R<sup>2</sup> value of 0.9856 on 161 duplicate pairs as shown in Figure 11-2. Ninety percent (90%) of all duplicates were within 20% of the original assay result, and 71% were within 10% of the original assay result.

**CRM Standards**

Table 11.1 displays the CRM standards used for the sample stream. There are three acceptable target grades published for the two CRM's arranged by date from oldest to most recent at the bottom of Table 11.1. The Qualified Person is of the opinion that the CRM standards ranges used in the prior technical report (Loveday, 2021), dated May 1, 2017 in Table 11.1, are most reasonable given the large differences in ranges between more recently published standards as shown in Table 11.1. All three sets of these ranges are plotted with the CRM standards QA/QC data on Figures 11.3 and 11.4 for reference.

#### Table 11.1<br> Vendor Certified Reference Material Ranges

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| | | | | |
|:---|:---|:---|:---|:---|
| **Standard** | **Lithium Low**<br> **2SD (ppm)** | **Lithium Mean (ppm)** | **Lithium High 2SD (ppm)** | **Reference**<br> **Li/Br CRM**  |
| **SRM1 (MEG10.11)** | 630 | 720 | 810 | MEG May 1, 2017 |
| **SRM2 (MEG10.15)** | 1304 | 1600 | 1870 | MEG May 1, 2017 |
| **SRM1 (MEG10.11)** | 448 | 744 | 1040 | MEG Aug 31, 2022 |
| **SRM2 (MEG10.15)** | 929 | 1579 | 2229 | MEG Aug 31, 2022 |
| **SRM1 (MEG10.11)** | 665.1 | 723.1 | 781.1 | MEG Sept 1, 2022 |
| **SRM2 (MEG10.15)** | 1396.8 | 1606.4 | 1816.0 | MEG Sept 1, 2022 |

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|:---|:---|
| ![](foot_logo.jpg) | 11-4 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

![](fig11_1.jpg)

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|:---|:---|
| ![](foot_logo.jpg) | 11-5 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

![](fig11_2.jpg)

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| | |
|:---|:---|
| ![](foot_logo.jpg) | 11-6 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

The CRMs inserted at the AAL laboratory showed good adherence to CRM Standard ranges of Table 11.1 for both the MEG-Li.10.11 and MEG-Li.10.15 Standards. At AAL Lab, of the 50 samples run for MEG-Li.10.11 all but three were within tolerance and of the 43 samples run for MEG-Li.10.15 all were within tolerance with two on the 95 % confidence limit line. At Paragon labs the CRMs inserted did not show consistent adherence to reference ranges, specifically during the second sample batch. The time frame of sampling for Paragon lab is shown on figures 11.4 and 11.5 and discussed below.

Paragons first batch of sampling was processed from March through April, 2022. The March sample (drill hole S2201) does adhere well to both standards as shown in figure 11.4 and 11.5. Samples in April (which include drill holes R2207 through R2213) show some outliers, but most fall within two standard deviations of the target CRM grade.

The second batch of Paragon labs samples processed from May through August, 2022. Results were reasonable for both standards at the start and end of this period,. However, as shown in figure 11.4 and 11.5, significant outliers can be observed in CRM results between June and early August 2022 (which includes drill holes R2218 through R2224 and C2201 through C2206). CRM from hole C2204 was analyzed toward the end of August also had an outlier spike in the MEG-Li.10.15 standard as shown in Figure 11-4.

Further investigation is required to pinpoint this QA/QC deviation. The drillholes analyzed at Paragon during this timeframe should be flagged and further investigation conducted to validate the results. The blank standard also showed inconsistencies in their results during the same period as discussed above.

11.4 Adequacy of Laboratory Procedures and Sample Security

It is the opinion of the Qualified Person, following an audit of QA/QC assay data, that the exploration data is adequate for the basis for building a geologic model and estimation of lithium resources. However, drill hole samples analyzed at Paragon lab between the dates of June through August 2022 should be retested and or other investigations conducted to verify their results.

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|:---|:---|
| ![](foot_logo.jpg) | 11-7 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

![](fig11_3.jpg)

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|:---|:---|
| ![](foot_logo.jpg) | 11-8 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

![](fig11_4.jpg)

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| | |
|:---|:---|
| ![](foot_logo.jpg) | 11-9 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

12 DATA VERIFICATION

An audit of the 53 additional drill holes since the prior Technical Report (Loveday, 2021) has been completed by the Authors and Qualified Persons. Only lithium analyses were reviewed in detail during the QA/QC.

12.1 Property Inspection 2021 and 2022

The goals of the site investigation were to verify drill hole sample practices, lithologic breaks in core and RC chips samples, and verify drill hole locations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.1.1** **Property Investigation, Sample and Documentation Review** 

While on-site, the Authors conducted general geological inspection of the TLC Property, including a review of the surface formations, downhole lithologies and rock types, historical diggings, and drill collar locations. The Authors reviewed the TLC storage faculties and field data collection procedures on going at the time. At the storage facilities the TLC core boxes and RC chip trays were found to be well labeled and organized by footage. The Authors were accompanied by American Lithium representatives. Figures 12-1 and 12-2 display information and photographs from the two sites visits discussed below.

An initial property investigation was completed by Qualified Person Derek Loveday on December 16<sup>th</sup> and 17<sup>th</sup>, 2021 which included a visit to the sample storage facilities and the verification of a few drill hole locations and assay grades. The Property visit was limited due to poor weather conditions. Mr. Loveday was able to verify select high- and low-grade intervals using American Lithium's portable LIBS tool for drill holes R2104 and R2106.

A second site visit was completed Qualified Person Joan Kester on July 20<sup>th</sup> and 21<sup>st</sup>, 2022. For the second visit the property was easily accessible by 4x4 via both paved and dirt roads. Active drilling was ongoing during the field visit and at the recently completed sites the sumps were being evaporated before backfilling and BLM reclamation efforts. Where outcrops were available surficial structural features were documented. At the warehouse facility active core drilling and logging was ongoing. Several sets of core boxes were awaiting detailed logging and were all well organized and labeled. While at site drill hole C2211 was actively being logged. Field documents for QA/QC insertion was reviewed for C2206, C2209 (samples in process of being split for analysis), and C2211. C2208 samples were being made ready for laboratory delivery.

Ms. Kester was able to photograph and review several available core, RC and sonic chips. Select RC, core and sonic holes (S20S5, R1901, R2105, R2201, R2204, R2211, R2218, C1917, and C2211) were reviewed for accurate lithologic reporting and completeness. Samples were chosen to represent a wide spatial location across the Property. Chip observations against original geologists' descriptions and assay certificates indicated no material discrepancies or concerns.

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|:---|:---|
| ![](foot_logo.jpg) | 12-1 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.1.2** **Drill Hole Location Validation** 

The site inspection confirmed that drill hole collars provided by American Lithium staff were accurate and verified by using both real time ArcGIS Field Maps software, a hand-held Garmin GPSmap 62S GPS and a Trimble GeoXT 6000 series GPS. Recent drill hole locations visited all had visible drill hole marker tags, and at older sites in reclamations there was clear evidence of drilling activity.

During the site investigation of the Property, the Qualified Persons located at least one drill collar from all the new drilling campaigns (Sonic 2020, RC 2021, and 2202 Sonic, Core, and RC). The tracks from the first field visit (blue) and locations from the second field visit (yellow) is shown in Figure 12-1. Some the drill hole pads visited include: S20S5, S2201, R2101, R2102, R2201, R2203, R2207, R2212, R2217, and C2206.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.1.3** **Data Validation Limitations** 

The Qualified Persons did not complete the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Laboratory inspections of AAL and Paragon labs were not completed by the Qualified Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The Qualified Person did not independently witness sample collection and methodology at the drill pads.

12.2 Opinion of the Independent Qualified Person

In the Qualified Person's opinion, that the field procedures, sample preparation and log documentation, security, and analytical methods meet industry standards. The quality of the warehouse organization and in process documentation are adequate. The Qualified Person is confident that the samples and associated laboratory datasets, with the exceptions noted in Section 11, used in this Technical Report are accurate.

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|:---|:---|
| ![](foot_logo.jpg) | 12-2 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

![](fig12_1.jpg)

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|:---|:---|
| ![](foot_logo.jpg) | 12-3 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

![](fig12_2.jpg)

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|:---|:---|
| ![](foot_logo.jpg) | 12-4 |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

13 MINERAL PROCESSING AND METALLURGICAL TESTING

Additional composite bulk samples have been taken from drill cores and RC chip samples since the prior technical report (Loveday, 2021). These are outlined below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· A composite bulk sample from core hole C1917 was sent to McClellan laboratories. Three samples (4462,
4548, 4560) were collected between a depth interval of 155 ft (47.2 m) to 335 ft (102.1 m) and had a combined head grade of 1,330 ppm
Li. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· A single composite RC sample (1020) was collected from select intervals from holes R2002, R2003, R1910,
R1914, R1913, R1902, R1903, R1904, R1908, R1911, R1912, R1915, R1916, and R1917 and sent to Hazen Research Inc. where a head grade of
1,210 ppm Li was measured.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Composite core samples (sample S6) from sonic hole 20S6 were sent to ANSTO laboratories in Australia where
a head grade of 1,172 ppm was measured.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· An entire hole composite sample (sample S7) from hole S20S7, a twin of hole R1918, was sent to McClelland
laboratories where a head grade of 968 ppm Li was measured.

The metallurgical testing program is managed by DRA Global Limited (DRA), an independent engineering company to American Lithium and Stantec. The results and associated interpretation of the metallurgical testing is still in progress and will be released in a Preliminary Economic Assessment (PEA) Report that is to follow this Technical Report. Table 13. 2 is a list of metallurgical tests currently being assessed by DRA.

#### Table 13.2<br> In Progress Metallurgical Testing

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| | |
|:---|:---|
| **Laboratory** | **Tests performed** |
| Caltest Analytical Laboratory | Water analysis |
| Lawrence Berkely National Laboratory | Clay Analysis |
| McClelland Laboratories | Roasting |
| McClelland Laboratories | Comminution |
| McClelland Laboratories | Centrifuge |
| McClelland Laboratories | Flotation |
| SGS | Pre-Concentration Upgrade |
| SGS | - mass balance centrifuge |
| SGS | - mini cyclone |
| SGS | - hydro separation |
| SGS | - magnetic separation |
| Arithmetek Inc. | Leach modeling |

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| | |
|:---|:---|
| ![](foot_logo.jpg) | **13-1** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

14 MINERAL RESOURCE ESTIMATES

14.1 Approach

In accordance with the requirements of NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards, the Qualified Persons employed at Stantec validated the drill hole and sample data set and created a geologic model for the purposes of generating lithium resource estimates from the lithium clay deposit within the TLC Property.

The geologic model described below was used as the basis for estimating mineral resources on the TLC Property.

14.2 Basis for Resource Estimation

NI 43-101 specifies that the definitions of the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Guidelines be used for the identification of resources. The CIM Resource and Reserve Definition Committee have produced the following statements which are restated here in the format originally provided in the CIM Reserve Resource Definition document:

"Mineral Resources are sub-divided, in order of increasing geological confidence, into Inferred, Indicated and Measured categories. An Inferred Mineral Resource has a lower level of confidence than that applied to an Indicated Mineral Resource. An Indicated Mineral Resource has a higher level of confidence than an Inferred Mineral Resource but has a lower level of confidence than a Measured Mineral Resource."

The Definition of Resources is as follows:

"A Mineral Resource is a concentration or occurrence of material of economic interest in or on the Earth's crust in such form, quality and quantity that there are reasonable prospects for eventual economic extraction. The location, quantity, grade, continuity and other geological characteristics of a Mineral Resource are known, estimated or interpreted from specific geological evidence and knowledge, including sampling."

"Material of economic interest refers to diamonds, natural inorganic material, or natural fossilized organic material including base and precious metals, coal, and industrial minerals." Lithium falls under the industrial minerals' category.

The committee went on to state that:

"The term Mineral Resource covers mineralization and natural material of intrinsic economic interest which has been identified and estimated through exploration and sampling and within which Mineral Reserves may subsequently be defined by the consideration and application of technical, economic, legal, environmental, socioeconomic and governmental factors. The phrase 'reasonable prospects for eventual economic extraction' implies a judgment by the Qualified Person in respect of the technical and economic factors likely to influence the prospect of economic extraction. Interpretation of the word 'eventual' in this context may vary depending on the commodity or mineral involved. For example, for some coal, iron, potash deposits and other bulk minerals or commodities, it may be reasonable to envisage 'eventual economic extraction' as covering time periods in excess of 50 years. However, for many gold deposits, application of the concept would normally be restricted to perhaps 10 to 15 years, and frequently to much shorter periods of time."

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|:---|:---|
| ![](foot_logo.jpg) | **14-1** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

Extraction of lithium from lithium clay deposits is most similar to bulk mineral commodities such as coal and potash and as such eventual economic extraction can cover time periods in excess of 50 years depending on the size and concentration of lithium in the clay.

14.3 Data Sources

Information used to compile the geologic models used for resource estimation included the following data provided by American Lithium:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· exploration drill hole logs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· drill hole sample data;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· surface geologic maps;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· geologic cross sections;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· 2018 Technical Report (Chapman, 2018);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· 2020 Technical Report (Loveday, 2021); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· 2021 Technical Report (Turner, 2021).

The drill hole sample data included chip and core samples. Details on drilling and sampling methods are detailed in Section 10 and 11 of this report. Although surface grab samples have been taken in the past, as described by (Chapman, 2018), these sample results were not used in this geologic model for resource estimation due to the inconsistencies in lithium concentrations due to surface weathering. The locations of the drill holes used in the geologic model are shown on Figure 14-1.

Surface geologic maps provided by American Lithium included surface mapping undertaken by American Lithium geologists in combination with mapping recorded with the U.S. Geological Survey that is freely available through open sources and mapping described by Turner (2021). Additional information acquired by Stantec and used in the development of this geologic model included surface topography data also available through open sources. The surface topography data was received as raster digital data with 1 arc-second resolution. The data was deemed accurate for the purposes of estimating resources on the Property considering the generally flat topography as can be observed on Figure 14-1.

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|:---|:---|
| ![](foot_logo.jpg) | **14-2** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

14.4 Model

The geologic model used for reporting of lithium resources was developed using Hexagon Mining's geological modelling and mine planning software, MinePlan version 16.0.4. MinePlan is widely used throughout the mining industry for digital resource model development. Hexagon Mining's suite of interpretive and modelling tools is well-suited to meet the resource estimation requirements for the TLC Property.

The geologic model from which lithium resources are reported is a 3D block model. The model limits and block size are outlined in Table 14.1 and the plan view extent of the geologic model is shown on Figure 14-1. The model was developed using the Nevada State Plane Central Zone NAD83 coordinate system and U.S. customary units.

#### Table 14.1<br> Block Model Parameters

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| | | | | |
|:---|:---|:---|:---|:---|
| **Coordinate** | **Minimum** | **Maximum** | **Range (ft)** | **Block (ft)** |
| Easting | 1449600 | 1472300 | **22700** | **50** |
| Northing | 20913800 | 20948300 | **34500** | **50** |
| Elevation | 3750 | 6350 | **2600** | **20** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.4.1 Model Inputs**

Inputs used in the construction of the geologic model and resource estimation include the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Surface topography;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Surface geologic maps and cross sections;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Drill hole locations for 59 RC holes, 15 core holes and 8 sonic holes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Drill hole chip and core log descriptions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· 5,939 chip samples from 57 RC holes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· 1,076 core samples from 15 core holes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· 187 core samples from 3 sonic holes and;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· 27 rock density test results (g/cm<sup>3</sup>).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.4.2 Surface Topography and Weathering**

Public domain surface topography data was used to generate a 2D grid of surface topography using a triangulation algorithm. The 2D grid origin and resolution was the same as that used in the 3D block model as shown in Table 14.1. All model grid files used the same origin and resolution.

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|:---|:---|
| ![](foot_logo.jpg) | **14-3** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

![](fig14_1.jpg)

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|:---|:---|
| ![](foot_logo.jpg) | **14-4** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

Depth of surface weathering was recorded from the log descriptions and estimated into a 2D-grid using an inverse distance square (IDW2) algorithm. A base of surface weathering elevation grid was generated by subtracting depth of the surface weathering estimates from the surface topography elevation. Lithium samples taken within this weathering zone, recorded as alluvium in drill holes, were not considered for resource estimation due to inconsistencies in lithium concentrations due to surface weathering. Surface mapping of outcrop was not used to further constrain the depth of surface weathering as these contacts were determined to be soft boundaries from field observations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.4.3 Structural Features**

The Property is separated into ten (10) fault blocks that are split by north-south trending high-angle normal faults and to a lesser extent west-east trending normal faults that likely have some strike-slip movement. The location of the faults and fault blocks are illustrated in Figure 7-2 and structural cross sections A-A' and B-B' shown in Figure 7-3. Mineralized claystone has been observed within all of the fault blocks with the exception of fault block 3, an uplifted block exposing unmineralized basal crystal tuff near the surface as observed from drill hole R2218. The mineralized claystone continues eastward and is partially cut off by the presence of a rhyolite intrusion that borders the east-central edge of the Property. Various volcanics and breccias border the Property at the southeast and the far northeast and northwest edges. The surface footprint of the rhyolite intrusion is shown on Figure 7-2 and Figure 7-3. Description of the local geology and further discussion on the impacts of the faulting on the lateral extent of the lithium-bearing claystone is detailed in Section 7.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.4.4 Model Zones**

The geologic model is separated into four stratigraphic zones, as indicated below, from top to bottom:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Weathered alluvium;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Upper Li mineralized claystone;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Lower Li mineralized claystone (includes basal tuff marker beds); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Basement (tuffaceous crystalline basement or limestone).

Additional igneous bodies in the north are not observed in drill hole records and their occurrence are based on public domain USGS geologic mapping. Wireframe solids generated from these four zones are presented on Figure 14-2 showing an oblique view of the geologic model looking towards the northwest. Table 14.2 provides composite vertical thickness statistics of the four stratigraphic horizons as penetrated from the drill hole records. Only the upper and lower Li mineralized claystone are considered resource.

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|:---|:---|
| ![](foot_logo.jpg) | **14-5** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

![](fig14_2.jpg)

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|:---|:---|
| ![](foot_logo.jpg) | **14-6** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

#### Table 14.2<br> Vertical Zone Thickness from Drill Holes

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| | | | | |
|:---|:---|:---|:---|:---|
| **Zone** | **Vertical Length (ft)** <sup>2</sup> | **Vertical Length (ft)** <sup>2</sup> | **Vertical Length (ft)** <sup>2</sup> | **Vertical Length (ft)** <sup>2</sup> |
| **Zone** | **Count** | **Minimum** | **Maximum** | **Average** |
| Weathered (Alluvium) | 82 | 3 | 157 | 22 |
| Upper Li Claystone | 81 | 65 | 940 | 359 |
| Lower Li Claystone | 25 | 2 | 525 | 129 |
| Crystalline basement | 1 | 467 | 467 | 467 |

---

The unweathered Li claystone and crystalline basement are offset by normal faults that are shown on Figure 14-2. There is only a single penetration of the crystalline basement with most holes ending in the lower Li claystone zone. The upper and lower lithium claystone zones are separated by a narrow more tuffaceous sedimentary unit (basal tuff marker bed) of lower lithium concentration (< 400 ppm) that is transitory and not easily recognised in all drill holes. As such, this transitory zone was not modelled separately and forms part of the lower lithium claystone.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.4.6 Lithium Mineralization Statistics**

Prior to estimation drillhole samples were composited at regular intervals of 5 ft given that the majority (83%) of the drill hole samples assessed for lithium resource were derived from 5 ft interval RC chip samples. Statistics on the number of 5ft composites, together with lithium concentrations from drill hole records for each mineralized zone, are shown in Table 14.3. A frequency distribution chart (histogram) generated from the regular 5ft composites is shown in Figure 14-3 for both mineralized zones. No outliers in lithium grades were observed to be material and no capping of grades is deemed necessary for grade estimation.

#### Table 14.3<br> Composite Lithium Grades from Drill Holes

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| | | | | |
|:---|:---|:---|:---|:---|
| **Zone** | **Composite Lithium (ppm)** | **Composite Lithium (ppm)** | **Composite Lithium (ppm)** | **Composite Lithium (ppm)** |
| **Zone** | **Count** | **Minimum** | **Maximum** | **Average** |
| Upper Li Claystone | 5311 | 26 | 2950 | 497 |
| Lower Li Claystone | 1580 | 13 | 2048 | 318 |

---

A global semi-variogram was generated from 5 ft (1.5 m) composite samples through the two Li mineralized zones is shown on Figure 14-4. This semi-variogram represents the combined variances from multi-direction semi-variograms at 30-degree directional increments. Maximum global range for the lithium grades is interpreted from the semi-variograms to be 5,000 ft (1,524 m).

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|:---|:---|
| ![](foot_logo.jpg) | **14-7** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

Observation of the lithium grade profiles from samples taken within the mineralized zone show separate concentrations of dissipated lithium ranging from around 500 ppm to more than 1,000 ppm. Correlation of lithium grade intervals to individual beds was not possible within the mineralized zones, as these grade intervals were observed to be more lens-like as opposed to continuous beds. Instead, broad intervals of high and low grade were modelled by limiting the number of composites per block estimate and using the upper-lower Li claystone contact as a relative elevation surface to account for fault offsets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.4.7 Density**

In situ densities do not vary significantly from observations of samples taken from drill cores. The dominant lithology on the Property and within the mineralized zone is claystone. In situ densities for claystone averaged 1.67 g/cm<sup>3</sup>. Lenses of conglomerate and sandstone that occur in the claystone averaged 1.88 g/ cm<sup>3</sup>. A fixed density of 1.7 g/ cm<sup>3</sup> was identified as most representative of the mineralized zone given that the primary lithotype is claystone.

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| | |
|:---|:---|
| ![](foot_logo.jpg) | **14-8** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

![](fig14_3.jpg)

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| | |
|:---|:---|
| ![](foot_logo.jpg) | **14-9** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

![](fig14_4.jpg)

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| | |
|:---|:---|
| ![](foot_logo.jpg) | **14-10** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.4.8 Model Build**

The procedures followed in building the resource model are outlined below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Topography was coded as a block percent using a wireframe generated from open-source
surface topography.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The two mineralized zone solids (upper and lower Li claystone) were coded into
blocks as a percentage item and zone item.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Regular 5 ft (1.5 m) composites from within the mineralized zone were estimated
into mineralized zone blocks using an inverse distance squared (IDW2) algorithm and isotropic search.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The maximum range for lithium grade estimates for resource determination was set
at 5,000 ft (1,524 m) as determined from semi-variogram analyses of the lithium grade data.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The upper-lower Li claystone contact was used as a relative elevation surface to
trend lithium grade estimates across fault offsets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Maximum number of samples for block estimates was set to the nearest nine (9) samples
with a maximum of six (6) samples per hole to simulate the tabular lens-like grade trends as observed from drill hole records.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Mineralized zone blocks within 5,000 ft (1,524 m) of nearest valid samples were
tagged as inferred, 2,500 ft (1,524 m) indicated, and 1,250 ft (1,524 m) measured.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Model grade estimates were validated against input drill hole grades using cross-sections
through the block model.

Model estimation parameters are summarized in Table 14.4.

#### Table 14.4<br> Lithium Grade Estimation Parameters

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Maximum Search** | **Maximum Search** | **No. Composites** | **No. Composites** | **No. Composites** |
| **Direction** | **Range (ft)** <sup>1</sup> | **Minimum** | **Maximum** | **Maximum per hole** |
| East | 5000 | 1 | 9 | 6 |
| North | 5000 | 1 | 9 | 6 |
| Vertical | 2000 | 1 | 9 | 6 |
| <sup>1</sup> – 1 ft = 0.3 m | <sup>1</sup> – 1 ft = 0.3 m | <sup>1</sup> – 1 ft = 0.3 m | <sup>1</sup> – 1 ft = 0.3 m |  |

---

Figure 14-5 illustrates the lithium grade distribution along two cross-section lines (A-A' and B-B') through the mineralized zone in the resource block model.

---

| | |
|:---|:---|
| ![](foot_logo.jpg) | **14-11** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

![](fig14_5.jpg)

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| | |
|:---|:---|
| ![](foot_logo.jpg) | **14-12** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

14.5 Assessment of Reasonable Prospects for Economic Extraction

A base case lithium resource cutoff grade has been determined based on the economics of a medium size (100 Mtpa) run-of-mine (ROM) surface mining operation that does not require blasting. Processing of the mineralized material would be onsite extracting lithium from claystone using an acid digestion method.

The following mining, processing, royalty, and recovery costs, in US$, were used to derive a base case cutoff grade for an eventual lithium carbonate (Li<sub>2</sub>CO<sub>3</sub>) product:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Mining costs US$3/tonne;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Processing costs US$43/tonne;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· General and administration US$1/tonne;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Royalties US$1/tonne; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Processing recovery 90%.

Revenue from a lithium carbonate product is estimated to be US$20,000/tonne for the cutoff grade calculation. Using the above inputs and Li<sub>2</sub>CO<sub>3</sub>:Li ratio of 5.32, a base case cutoff grade for lithium is estimated to be 500 ppm, rounded from 501 ppm.

The most variable costs impacting the cutoff grade is processing costs, which given the available information, is based on published estimates for similar deposit types (Eshani et al., 2018). Higher processing costs may be realized following metallurgical testing of the mineralized claystone that may increase the cutoff grade to as high as 1,000 ppm lithium. Similarly, lower prices for lithium carbonate would also increase the cutoff grade, though this is viewed as lower risk in current market conditions.

An alternative product to lithium carbonate that could be produced from the resource is lithium hydroxide monohydrate (LiOH.H<sub>2</sub>0) that sells at a slightly higher premium than lithium carbonate and has the benefit of a higher LiOH.H<sub>2</sub>O:Li ratio at 6.05 when compared with the Li<sub>2</sub>CO<sub>3</sub>:Li ratio of 5.32. As such, a cutoff grade of 500 ppm is considered reasonable as a base case resource estimate for either a lithium carbonate or lithium hydroxide monohydrate product.

An economic pit shell at a constant 45 degrees slope was developed using 500 ppm lithium as a cutoff grade to separate resource blocks from waste blocks in the model. A US$20,000/tonne revenue for an equivalent lithium carbonate product and a mining cost of US$3/tonne was used in the derivation of the pit shell. Figure 14-6 shows an oblique view of the pit shell looking towards the northwest.

---

| | |
|:---|:---|
| ![](foot_logo.jpg) | **14-13** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

![](fig14_6.jpg)

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| | |
|:---|:---|
| ![](foot_logo.jpg) | **14-14** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

14.6 Lithium Resource Estimates

Lithium resources are contained within the upper and lower claystone beds deposited on top of a crystalline basement. This mineralized zone is further constrained to within nine (9) faults blocks bounded by near vertical normal displacement faults and by intrusions in the northeast and northern extremities of the Property, as shown on Figure 14-7, Resource Classification Map. Mineral resources are classified by distance from nearest valid drill hole sample up to maximum distance of 5,000 ft (1,524 m) for Inferred, 2,500 ft (762 m) for Indicated and 1,250 ft (381 m) for Measured.

The lithium mineral resource estimates are presented in Table 14.5 in U.S. customary units and Table 14.6 in metric units. The resource estimates are contained within an economic pit shell at constant 45° pit slope to a maximum vertical depth of 970 ft (296 m) below surface. The crest of the pit shell is shown on Figure 14-6 and pit shell depth is shown on Figure 14-8. Lithium resources are presented for a range of cutoff grades to a maximum of 1,200 ppm lithium. The base case lithium resource estimates are highlighted in bold type in Table 14.5 and Table 14.6. All lithium resources on the TLC Property are surface mineable at a stripping ratio of 2.4 waste yd<sup>3</sup>/ton (0.8 m<sup>3</sup>/tonne) at the base case cutoff grade of 500 ppm lithium. The effective date of the lithium resource estimate is October 6, 2022.

---

| | |
|:---|:---|
| ![](foot_logo.jpg) | **14-15** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

![](fig14_7.jpg)

---

| | |
|:---|:---|
| ![](foot_logo.jpg) | **14-16** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

#### Table 14.5<br> Lithium Resource Estimates – U.S. Customary Units

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | | | **Million short tons (Mst)** | **Million short tons (Mst)** | **Million short tons (Mst)** |
| **Cutoff** <br>**Li (ppm)** | **Volume**<br>**(Myd<sup>3</sup>)** | **Tons**<br>**(Mst)** | **Li**<br>**(ppm)** | **Li** | **Li<sub>2</sub>CO<sub>3</sub>** | **LiOH.H<sub>2</sub>O** |
| **Measured** | **Measured** | **Measured** | **Measured** | **Measured** | **Measured** | **Measured** |
| **500** | **662** | **948** | **924** | **0.88** | **4.68** | **5.32** |
| 600 | 545 | 781 | 1006 | 0.79 | 4.2 | 4.78 |
| 800 | 371 | 532 | 1153 | 0.61 | 3.25 | 3.69 |
| 1000 | 265 | 380 | 1255 | 0.48 | 2.55 | 2.9 |
| 1200 | 136 | 195 | 1401 | 0.27 | 1.44 | 1.63 |
| **Indicated** | **Indicated** | **Indicated** | **Indicated** | **Indicated** | **Indicated** | **Indicated** |
| **500** | **917** | **1314** | **727** | **0.96** | **5.11** | **5.81** |
| 600 | 573 | 821 | 835 | 0.69 | 3.67 | 4.17 |
| 800 | 285 | 408 | 987 | 0.4 | 2.13 | 2.42 |
| 1000 | 105 | 150 | 1148 | 0.17 | 0.9 | 1.03 |
| 1200 | 29 | 42 | 1328 | 0.06 | 0.32 | 0.36 |
| **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** |
| **500** | **1579** | **2262** | **813** | **1.84** | **9.79** | **11.13** |
| 600 | 1118 | 1602 | 924 | 1.48 | 7.87 | 8.95 |
| 800 | 656 | 940 | 1074 | 1.01 | 5.38 | 6.11 |
| 1000 | 370 | 530 | 1226 | 0.65 | 3.45 | 3.93 |
| 1200 | 165 | 237 | 1392 | 0.33 | 1.76 | 1.99 |
| **Inferred** | **Inferred** | **Inferred** | **Inferred** | **Inferred** | **Inferred** | **Inferred** |
| **500** | **374** | **536** | **713** | **0.38** | **2.02** | **2.3** |
| 600 | 227 | 325 | 827 | 0.27 | 1.44 | 1.63 |
| 800 | 101 | 145 | 995 | 0.14 | 0.74 | 0.85 |
| 1000 | 40 | 57 | 1151 | 0.07 | 0.37 | 0.42 |
| 1200 | 10 | 14 | 1315 | 0.02 | 0.11 | 0.12 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· CIM definitions are followed for classification of Mineral Resource.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Mineral Resource surface pit extent has been estimated using a lithium carbonate
price of US20,000 US$/tonne and mining cost of US$3.00 per tonne, a lithium recovery of 90%, fixed density of 1.70 g/cm<sup>3</sup> (1.43
tons/yd<sup>3</sup>)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Conversions: 1 metric tonne = 1.102 short tons, metric m<sup>3</sup> = 1.308 yd<sup>3</sup>,
Li<sub>2</sub>CO<sub>3</sub>:Li ratio = 5.32, LiOH.H<sub>2</sub>O:Li ratio =6.05

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Totals may not represent the sum of the parts due to rounding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The Mineral Resource estimate has been prepared by Joan Kester, PG and Derek Loveday,
P. Geo. of Stantec Consulting Services Inc. in conformity with CIM "Estimation of Mineral Resource and Mineral Reserves Best Practices"
guidelines and are reported in accordance with the Canadian Securities Administrators NI 43-101. Mineral resources are not mineral reserves
and do not have demonstrated economic viability. There is no certainty that any mineral resource will be converted into mineral reserve.

---

| | |
|:---|:---|
| ![](foot_logo.jpg) | **14-17** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

#### Table 14.6<br> Lithium Resource Estimates – Metric Units

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | | | **Million Tonnes (Mt)** | **Million Tonnes (Mt)** | **Million Tonnes (Mt)** |
| **Cutoff** <br>**Li (ppm)** | **Volume**<br>**(Mm<sup>3</sup>)** | **Tonnes**<br>**(Mt)** | **Li**<br>**(ppm)** | **Li** | **Li<sub>2</sub>CO<sub>3</sub>** | **LiOH.H<sub>2</sub>O** |
| **Measured** | **Measured** | **Measured** | **Measured** | **Measured** | **Measured** | **Measured** |
| **500** | **506** | **860** | **924** | **0.79** | **4.2** | **4.78** |
| 600 | 416 | 707 | 1006 | 0.71 | 3.78 | 4.3 |
| 800 | 283 | 481 | 1153 | 0.55 | 2.93 | 3.33 |
| 1000 | 203 | 345 | 1255 | 0.43 | 2.29 | 2.6 |
| 1200 | 104 | 177 | 1401 | 0.25 | 1.33 | 1.51 |
| **Indicated** | **Indicated** | **Indicated** | **Indicated** | **Indicated** | **Indicated** | **Indicated** |
| **500** | **701** | **1192** | **727** | **0.87** | **4.63** | **5.26** |
| 600 | 438 | 745 | 835 | 0.62 | 3.3 | 3.75 |
| 800 | 218 | 371 | 987 | 0.37 | 1.97 | 2.24 |
| 1000 | 80 | 136 | 1148 | 0.16 | 0.85 | 0.97 |
| 1200 | 22 | 37 | 1328 | 0.05 | 0.27 | 0.3 |
| **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** |
| **500** | **1207** | **2052** | **809** | **1.66** | **8.83** | **10.04** |
| 600 | 854 | 1452 | 916 | 1.33 | 7.08 | 8.05 |
| 800 | 501 | 852 | 1080 | 0.92 | 4.9 | 5.57 |
| 1000 | 283 | 481 | 1227 | 0.59 | 3.14 | 3.57 |
| 1200 | 126 | 214 | 1402 | 0.3 | 1.6 | 1.81 |
| **Inferred** | **Inferred** | **Inferred** | **Inferred** | **Inferred** | **Inferred** | **Inferred** |
| **500** | **286** | **486** | **713** | **0.35** | **1.86** | **2.12** |
| 600 | 173 | 294 | 827 | 0.24 | 1.28 | 1.45 |
| 800 | 77 | 131 | 995 | 0.13 | 0.69 | 0.79 |
| 1000 | 31 | 53 | 1151 | 0.06 | 0.32 | 0.36 |
| 1200 | 8 | 14 | 1315 | 0.02 | 0.11 | 0.12 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· CIM definitions are followed for classification of Mineral Resource.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Mineral Resource surface pit extent has been estimated using a lithium carbonate
price of US20,000 US$/tonne and mining cost of US$3.00 per tonne, a lithium recovery of 90%, fixed density of 1.70 g/cm<sup>3</sup> (1.43
tons/yd<sup>3</sup>)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Conversions: 1 metric tonne = 1.102 short tons, metric m<sup>3</sup> = 1.308 yd<sup>3</sup>,
Li<sub>2</sub>CO<sub>3</sub>:Li ratio = 5.32, LiOH.H<sub>2</sub>O:Li ratio =6.05

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Totals may not represent the sum of the parts due to rounding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The Mineral Resource estimate has been prepared by Joan Kester, PG and Derek Loveday,
P. Geo. of Stantec Consulting Services Inc. in conformity with CIM "Estimation of Mineral Resource and Mineral Reserves Best Practices"
guidelines and are reported in accordance with the Canadian Securities Administrators NI 43-101. Mineral resources are not mineral reserves
and do not have demonstrated economic viability. There is no certainty that any mineral resource will be converted into mineral reserve.

---

| | |
|:---|:---|
| ![](foot_logo.jpg) | **14-18** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

![](fig14_8.jpg)

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| | |
|:---|:---|
| ![](foot_logo.jpg) | **14-19** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

14.7 Potential Risks

The accuracy of resource estimates is, in part, a function of the quality and quantity of available data and of engineering and geological interpretation and judgment. Given the data available at the time; the estimates presented herein are considered reasonable. However, they should be accepted with the understanding that additional data and analysis available after the date of the estimates may necessitate revision. These revisions may be material.

Mineral resources are not mineral reserves and there is no assurance that any mineral resources will ultimately be reclassified as Proven or Probable reserves. Mineral resources which are not mineral reserves do not have demonstrated economic viability.

Potential risks that may impact accuracy of the mineral resource estimates are:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The resource is limited to within nine (9) fault blocks that may shift location given further exploration.
Should new supporting data support a significant shift in the fault locations this may have a material impact on the resource estimates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The intrusions and the other volcanics around the extremities of the Property are only recognized from
surface mapping. Future exploration drilling in these areas of the Property may show these intrusions and other volcanics extending into
the Property below surface. This may have a material impact on the resource estimates in these regions of the deposit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· QA/QC records of assay blanks and standards indicate that there is potential for inconsistencies in the
predicted reliability of the lithium assay results received from Paragon laboratories when compared to assay results received from other
laboratories as described Section 11 of the Technical Report.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Metallurgical test currently under the control of DRA may indicate that the input costs for the practical
extraction of lithium to be higher than anticipated. Since processing costs are a significant component of lithium carbonate (or lithium
hydroxide monohydrate) production, the lithium cutoff grade may be higher than the base case cutoff grade of 500 ppm used for the lithium
resource estimates.

---

| | |
|:---|:---|
| ![](foot_logo.jpg) | **14-20** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

15 MINERAL RESERVE ESTIMATES

This Technical Report does not include an estimate of reserves.

---

| | |
|:---|:---|
| ![](foot_logo.jpg) | **15-1** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

16 MINING METHODS

There is no information for this section of the Technical Report as the Property is not presently producing and is not yet under development.

---

| | |
|:---|:---|
| ![](foot_logo.jpg) | **16-1** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

17 RECOVERY METHODS

There is no information for this section of the Technical Report as the Property is not presently producing and is not yet under development.

---

| | |
|:---|:---|
| ![](foot_logo.jpg) | **17-1** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

18 PROJECT INFRASTRUCTURE

There is no information for this section of the Technical Report as the Property and is not yet under development.

---

| | |
|:---|:---|
| ![](foot_logo.jpg) | **18-1** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

19 MARKETS AND CONTRACTS

There is no information for this section of the Technical Report as the Property is not presently producing and is not yet under development.

---

| | |
|:---|:---|
| ![](foot_logo.jpg) | **19-1** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

20 ENVIRONMENTAL STUDIES, PERMITTING AND SOCIAL OR COMMUNITY IMPACT

There is no information for this section of the Technical Report as the Property is not presently producing and is not yet under development.

---

| | |
|:---|:---|
| ![](foot_logo.jpg) | **20-1** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

21 CAPITAL AND OPERATING COSTS

There is no information for this section of the Technical Report as the Property is not presently producing and is not yet under development.

---

| | |
|:---|:---|
| ![](foot_logo.jpg) | **21-1** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

22 ECONOMIC ANALYSIS

There is no information for this section of the Technical Report as the Property is not presently producing and is not yet under development.

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| | |
|:---|:---|
| ![](foot_logo.jpg) | **22-1** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

23 ADJACENT PROPERTIES

The Qualified Person has not verified the information associated with the adjacent properties, inclusive of active claims; the information associated with these adjacent properties may not be indicative of the mineralization on the Property.

To the northwest of the TLC Property is the Ray Property owned by Mogul Mountain Holdings Corporation. The Ray Property consists of 186 unpatented mining claims under the name Raye and 65 unpatented mining claims under the name Dustbowl. Within the claim block boundary there are two patented lode claim areas and four unpatented lode claims, all of which are held by third party entities. Exploration efforts on this property indicate evidence to support both an epithermal and Carlin-style Ag-Au deposit (Loveday, 2022).

Directly east of the TLC property are five active unpatented claims held by NV Gold Corporation constituting part of their Frazier Dome Project. This project area is undergoing exploration of a low-sulfidation, volcanic-hosted epithermal gold system with high-grade mineralization (NV Gold Corporation, 2023).

Blackrock Silver Corporation's (Blackrock) Tonopah North Project, whose claims are located 1.9 miles (3 km) southeast of the TLC Property, have reported that a broad lithium zone has been intersected from drilling encompassing an area 5,200 acres (2,100 hectares). They reported that the lithium zone was similar profile to the lithium mineralization encountered at the TLC deposit. (Blackrock, 2022).

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| | |
|:---|:---|
| ![](foot_logo.jpg) | **23-1** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

24 OTHER RELEVANT DATA AND INFORMATION

All relevant information is included in this report.

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| | |
|:---|:---|
| ![](foot_logo.jpg) | **24-1** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

25 INTERPRETATION AND CONCLUSIONS

The TLC Property is located approximately 10 km northwest of the town of Tonopah, east of Big Smoky Valley and west of the San Antonio Mountain range, Nye County, Nevada. There is limited information on property exploration and ownership prior to 2017. In 2017 lithium exploration is known to have begun in and around the Property starting with surface mapping and then drilling using a combination of RC, core and sonic methods. Since the last Technical Report (Loveday, 2021), American Lithium has increased its unpatented lode claims ownership on the TLC Property significantly and this together with additional drilling has contributed to an increase in the estimated lithium resources on the Property.

The Property consists of 614 unpatented lode mining claims located in Township and Range T4N, R41E; TN4, R42E; T3N, R41E; and T3N, R42E of the Mount Diablo Meridian (21) and covers an area of 12,511 acres (5,063 hectares). Elevated lithium concentrations occur in the surface alluvial, and underlying claystone beds. The estimated lithium resources are contained within the claystone the cover an area of approximately 7,500 acres (3,035 hectares) and depth of approximately 1,000 ft (304.8 m) below surface.

The geologic model from which lithium resources are reported is a 3D block model. The resource estimates are contained within an economic pit shell at constant 45° pit slope to a maximum vertical depth of 970 ft (296 m) below surface using a base case cutoff grade 500 ppm lithium to produce an eventual battery grade lithium carbonate product or lithium hydroxide monohydrate product.

The following costs, recoveries and revenue, in metric units and US$, were used to derive a base case cutoff grade for an eventual lithium carbonate (Li<sub>2</sub>CO<sub>3</sub>) product:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Mining costs US$3/tonne;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Processing costs US$43/tonne;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· General and administration US$1/tonne;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Royalties US$1/tonne;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Processing recovery 90%; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· US$20,000/tonne revenue for Li<sub>2</sub>CO<sub>3</sub> product.

The lithium mineral resource estimates are presented in Table 25.1 in U.S. customary units and Table 25.2 in metric units. Lithium resources are presented for a range of cutoff grades to a maximum of 1,200 ppm lithium. The base case lithium resource estimates are highlighted in bold type in Table 25.1 and Table 25.2. All lithium resources on the TLC Property are surface mineable at a stripping ratio of 2.4 waste yd<sup>3</sup>/ton (0.8 m<sup>3</sup>/tonne) at the base case cutoff grade of 500 ppm lithium. The effective date of the lithium resource estimate is October 6, 2022.

---

| | |
|:---|:---|
| ![](foot_logo.jpg) | **25-1** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

#### Table 25.1<br> Lithium Resource Estimates – U.S. Customary Units

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | | | **Million short tons (Mst)** | **Million short tons (Mst)** | **Million short tons (Mst)** |
| **Cutoff** <br>**Li (ppm)** | **Volume**<br>**(Myd<sup>3</sup>)** | **Tons**<br>**(Mst)** | **Li**<br>**(ppm)** | **Li** | **Li<sub>2</sub>CO<sub>3</sub>** | **LiOH.H<sub>2</sub>O** |
| **Measured** | **Measured** | **Measured** | **Measured** | **Measured** | **Measured** | **Measured** |
| **500** | **662** | **948** | **924** | **0.88** | **4.68** | **5.32** |
| 600 | 545 | 781 | 1006 | 0.79 | 4.2 | 4.78 |
| 800 | 371 | 532 | 1153 | 0.61 | 3.25 | 3.69 |
| 1000 | 265 | 380 | 1255 | 0.48 | 2.55 | 2.9 |
| 1200 | 136 | 195 | 1401 | 0.27 | 1.44 | 1.63 |
| **Indicated** | **Indicated** | **Indicated** | **Indicated** | **Indicated** | **Indicated** | **Indicated** |
| **500** | **917** | **1314** | **727** | **0.96** | **5.11** | **5.81** |
| 600 | 573 | 821 | 835 | 0.69 | 3.67 | 4.17 |
| 800 | 285 | 408 | 987 | 0.4 | 2.13 | 2.42 |
| 1000 | 105 | 150 | 1148 | 0.17 | 0.9 | 1.03 |
| 1200 | 29 | 42 | 1328 | 0.06 | 0.32 | 0.36 |
| **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** |
| **500** | **1579** | **2262** | **813** | **1.84** | **9.79** | **11.13** |
| 600 | 1118 | 1602 | 924 | 1.48 | 7.87 | 8.95 |
| 800 | 656 | 940 | 1074 | 1.01 | 5.38 | 6.11 |
| 1000 | 370 | 530 | 1226 | 0.65 | 3.45 | 3.93 |
| 1200 | 165 | 237 | 1392 | 0.33 | 1.76 | 1.99 |
| **Inferred** | **Inferred** | **Inferred** | **Inferred** | **Inferred** | **Inferred** | **Inferred** |
| **500** | **374** | **536** | **713** | **0.38** | **2.02** | **2.3** |
| 600 | 227 | 325 | 827 | 0.27 | 1.44 | 1.63 |
| 800 | 101 | 145 | 995 | 0.14 | 0.74 | 0.85 |
| 1000 | 40 | 57 | 1151 | 0.07 | 0.37 | 0.42 |
| 1200 | 10 | 14 | 1315 | 0.02 | 0.11 | 0.12 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· CIM definitions are followed for classification of Mineral Resource.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Mineral Resource surface pit extent has been estimated using a lithium carbonate
price of US20,000 US$/tonne and mining cost of US$3.00 per tonne, a lithium recovery of 90%, fixed density of 1.70 g/cm<sup>3</sup> (1.43
tons/yd<sup>3</sup>)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Conversions: 1 metric tonne = 1.102 short tons, metric m<sup>3</sup> = 1.308 yd<sup>3</sup>,
Li<sub>2</sub>CO<sub>3</sub>:Li ratio = 5.32, LiOH.H<sub>2</sub>O:Li ratio =6.05

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Totals may not represent the sum of the parts due to rounding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The Mineral Resource estimate has been prepared by Joan Kester, PG and Derek Loveday,
P. Geo. of Stantec Consulting Services Inc. in conformity with CIM "Estimation of Mineral Resource and Mineral Reserves Best Practices"
guidelines and are reported in accordance with the Canadian Securities Administrators NI 43-101. Mineral resources are not mineral reserves
and do not have demonstrated economic viability. There is no certainty that any mineral resource will be converted into mineral reserve.

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| ![](foot_logo.jpg) | **25-2** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

#### Table 25.2<br> Lithium Resource Estimates – Metric Units

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | | | **Million Tonnes (Mt)** | **Million Tonnes (Mt)** | **Million Tonnes (Mt)** |
| **Cutoff** <br>**Li (ppm)** | **Volume**<br>**(Mm<sup>3</sup>)** | **Tonnes**<br>**(Mt)** | **Li**<br>**(ppm)** | **Li** | **Li<sub>2</sub>CO<sub>3</sub>** | **LiOH.H<sub>2</sub>O** |
| **Measured** | **Measured** | **Measured** | **Measured** | **Measured** | **Measured** | **Measured** |
| **500** | **506** | **860** | **924** | **0.79** | **4.2** | **4.78** |
| 600 | 416 | 707 | 1006 | 0.71 | 3.78 | 4.3 |
| 800 | 283 | 481 | 1153 | 0.55 | 2.93 | 3.33 |
| 1000 | 203 | 345 | 1255 | 0.43 | 2.29 | 2.6 |
| 1200 | 104 | 177 | 1401 | 0.25 | 1.33 | 1.51 |
| **Indicated** | **Indicated** | **Indicated** | **Indicated** | **Indicated** | **Indicated** | **Indicated** |
| **500** | **701** | **1192** | **727** | **0.87** | **4.63** | **5.26** |
| 600 | 438 | 745 | 835 | 0.62 | 3.3 | 3.75 |
| 800 | 218 | 371 | 987 | 0.37 | 1.97 | 2.24 |
| 1000 | 80 | 136 | 1148 | 0.16 | 0.85 | 0.97 |
| 1200 | 22 | 37 | 1328 | 0.05 | 0.27 | 0.3 |
| **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** | **Measured plus Indicated** |
| **500** | **1207** | **2052** | **809** | **1.66** | **8.83** | **10.04** |
| 600 | 854 | 1452 | 916 | 1.33 | 7.08 | 8.05 |
| 800 | 501 | 852 | 1080 | 0.92 | 4.9 | 5.57 |
| 1000 | 283 | 481 | 1227 | 0.59 | 3.14 | 3.57 |
| 1200 | 126 | 214 | 1402 | 0.3 | 1.6 | 1.81 |
| **Inferred** | **Inferred** | **Inferred** | **Inferred** | **Inferred** | **Inferred** | **Inferred** |
| **500** | **286** | **486** | **713** | **0.35** | **1.86** | **2.12** |
| 600 | 173 | 294 | 827 | 0.24 | 1.28 | 1.45 |
| 800 | 77 | 131 | 995 | 0.13 | 0.69 | 0.79 |
| 1000 | 31 | 53 | 1151 | 0.06 | 0.32 | 0.36 |
| 1200 | 8 | 14 | 1315 | 0.02 | 0.11 | 0.12 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· CIM definitions are followed for classification of Mineral Resource.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Mineral Resource surface pit extent has been estimated using a lithium carbonate
price of US20,000 US$/tonne and mining cost of US$3.00 per tonne, a lithium recovery of 90%, fixed density of 1.70 g/cm<sup>3</sup> (1.43
tons/yd<sup>3</sup>)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Conversions: 1 metric tonne = 1.102 short tons, metric m<sup>3</sup> = 1.308 yd<sup>3</sup>,
Li<sub>2</sub>CO<sub>3</sub>:Li ratio = 5.32, LiOH.H<sub>2</sub>O:Li ratio =6.05

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Totals may not represent the sum of the parts due to rounding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The Mineral Resource estimate has been prepared by Joan Kester, PG and Derek Loveday,
P. Geo. of Stantec Consulting Services Inc. in conformity with CIM "Estimation of Mineral Resource and Mineral Reserves Best Practices"
guidelines and are reported in accordance with the Canadian Securities Administrators NI 43-101. Mineral resources are not mineral reserves
and do not have demonstrated economic viability. There is no certainty that any mineral resource will be converted into mineral reserve.

The mineral resource estimates presented in Table 25.1 and Table 25.2 represent an increase in both resource confidence and quantity compared to historical estimates (Loveday, 2021). These differences are due to:

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| ![](foot_logo.jpg) | **25-3** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Increase in concession area of the Property from 4,114 acres (1,665 hectares) to the current 12,511 acres
(5,063 hectares);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Increase in exploration drilling from 29 holes to a total of 82 holes; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Increasing depth of drilling since the last technical report has identified an additional lower lithium
clay zone below a basal tuff marker bed horizon previously (Loveday, 2021) used as a basement horizon.

25.1 Potential Risks

The accuracy of resource estimates is, in part, a function of the quality and quantity of available data and of engineering and geological interpretation and judgment. Given the data available at the time; the estimates presented herein are considered reasonable. However, they should be accepted with the understanding that additional data and analysis available after the date of the estimates may necessitate revision. These revisions may be material.

Mineral resources are not mineral reserves and there is no assurance that any mineral resources will ultimately be reclassified as Proven or Probable reserves. Mineral resources which are not mineral reserves do not have demonstrated economic viability.

Potential risks that may impact accuracy of the mineral resource estimates are:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The resource limited to within nine (9) fault blocks that may shift location given further exploration.
Should new supporting data support a significant shift in the fault locations this may have a material impact on the resource estimates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The intrusions and the other volcanics around the extremities of the Property are only recognized from
surface mapping. Future exploration drilling in these areas of the Property may show these intrusions and other volcanics extending into
the Property below surface. This may have a material impact on the resource estimates in these regions of the deposit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· QA/QC records of assay blanks and standards indicate that there is potential for inconsistencies in the
predicted reliability of the lithium assay results received from Paragon laboratories when compared to assay results received from other
laboratories as described Section 11 of the Technical Report.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Metallurgical test currently under the control of DRA may indicate that the input costs for the practical
extraction of lithium to be higher than anticipated. Since processing costs are a significant component of lithium carbonate (or lithium
hydroxide monohydrate) production, the lithium cutoff grade may be higher than the base case cutoff grade of 500 ppm used for the lithium
resource estimates.

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|:---|:---|
| ![](foot_logo.jpg) | **25-4** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

26 Recommendations

Two phases, listed below, are recommended to advance the TLC Property.

**Phase 1**

Additional studies are recommended to define the locations and throw of the faults on the property, and to assess the accuracy of lithium assay test results received from Paragon laboratories. It is recommended that exploration methods use minimal surface disturbance, rather than immediately advancing to another exploration drilling program. The estimated costs with the Phase 1 program are outlined in Table 26.1.

#### Table 26.1<br> Phase 1: Data Gathering Cost Estimate

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| | | | |
|:---|:---|:---|:---|
| **Program** | **Purpose** | **Method** | **Total**<br> **(US$000)** |
| Re-assay of drill samples | Re-assay 20% samples sent to Paragon laboratory | ICP-OES+ICP-MS | 10 |
| LiDAR Survey | Potential identification of subtle changes in subsurface geology | Drone LiDAR Survey | 15 |
| Geophysics | Identification of faults | Active and Passive | 50 |
| Mineral Processing | Further constrain mineral Processing from larger samples | Process Testing | 150 |
| **Estimated Total** | **Estimated Total** | **Estimated Total** | **225** |

---

**Phase 2**

Phase 2 is not contingent on the results of Phase 1. Stantec recommends that, for Phase 2, a Preliminary Economic Assessment (PEA) should be completed on the TLC Property. The PEA involves several major tasks, which are listed below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Identify ground water sources to be utilized in the development of the TLC Property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Mine design and development;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Lithium process facilities including a sulphuric acid plant;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Project infrastructure and required utilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Tailings management plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Regulatory roadmap outlining the regulatory process, timelines and costs; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Capex and Opex estimate and economic analysis.

The cost to complete Phase 2 is estimated at US$500k. Components of the Phase 2 program are currently in progress as of the effective date of this Technical Report.

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|:---|:---|
| ![](foot_logo.jpg) | **26-1** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

27 REFERENCES

Asher-Bolinder, S. (1991). Descriptive Model of Lithium in Smectites of Closed Basins. [ed.] G. J. Orris and J. D. Bliss. Some Industrial Minerals Deposit Models, Descriptive Deposit Models, USGS Open File Report 91-11A. 1991, pp. 11-12.

Blackrock (2022): Blackrock Confirms New lithium Discovery at Tonopah North, News Release, Blackrock Silver Corporation. Blackrocksilver.com.

Bureau of Land Management Tonopah Field Office (2021). 1074654 Nevada Corp. TLC Exploration Project Nye and Esmeralda Counties, Nevada. Environmental Assessment # DOI-BLM-NV-B020-2022-0003-EA

Bonham H.F. and Garside L.J. (1979). Geology of the Tonopah, Lone Mountain, Klondike, and Northern Mud Lake Quadrangles, Nevada. Nevada Bureau of Mines and Geology, Bulletin 92.

Chapman, J. (2018). NI 43-101 Technical Report on the TLC – Lithium Clay Property, Nye County, Nevada, USA.

Climate Change & Infectious Diseases. (2019). *World Map of the Köppen-Geiger Climate Classification.* Retrieved from: http://koeppen-geiger.vu-wien.ac.at/present.htm

Lane, T., Harvey, J.T., Fayram, T., Samari, H. & Brown, J.J. (2018). Preliminary Economic Assessment Technical Report Clayton Valley Lithium Project, Esmeralda County, Nevada. Global Resource Engineering, Ltd.

 

Loveday, D.J., (2022). NI 43-101 Technical Report, Ray Property, Nye County, Nevada, USA. For Mogul Mountain Ventures, Effective August 1, 2022. Stantec Consulting Inc.

Loveday, D., (2021). NI 43-101 Technical Report, TLC Property, Nye County, Nevada, USA. For American Lithium Corp, October 2021. Effective date April 15, 2020. Stantec Consulting Ltd.

NV Gold Corporation. (2020). Frazier Dome Project. Retrieved from: https://www.nvgoldcorp.com/properties/nevada/frazier-dome-project/

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|:---|:---|
| ![](foot_logo.jpg) | **27-1** |

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**TECHNICAL REPORT – TLC Property, Nevada, USA**

Pioneer (2021) American Lithium UAV Aeromagnetic Survey Logistics Report. 21 p. Pioneer Exploration Consultants Ltd.

Turner (2021) Technical Report Crescent Dunes Lithium Property, Nye County, Nevada, USA. For **Jana Campbell Mineral Exploration,** September 2021, Stantec Calgary, Alberta

Tonopah Climate. (2020). Climate-Data.org. Retrieved from: https://en.climate-data.org/north-america/united-states-of-america/nevada/tonopah-124566/

Tonopah, Nevada. (2020). *Tonopah Aeronautics & Technology Park.* Retrieved from: https://www.tonopahnevada.com/airport/

Union Pacific. (2019). *Union Pacific in Nevada.* Retrieved from: https://www.up.com/cs/groups/public/@uprr/@corprel/documents/up_pdf_nativedocs/pdf_nevada_usguide.pdf

Weatherbase. (2020). *Tonopah, Nevada.* Retrieved from: https://www.weatherbase.com/weather/weather-summary.php3?s=724803&cityname=Tonopah,+Nevada,+United+States+of+America

Weatherspark. (1993). Retrieved from:

https://weatherspark.com/y/1993/Average-Weather-in-Tonopah-Nevada-United-States-Year-Round.