Partial relinquishment report for EL 29903 for the period 20 February 2014 to 19 February 2018

Abstract

Lake Lewis Project, EL 29903, is situated approximately 200 km west-northwest of Alice Springs on the NAPPERBY 1:250,000 Geological Series Map Sheet, SF 53-9 map sheet. EL 29903 is comprised of 41 blocks and was granted on 2 February 2014 to Piper Preston Pty Ltd (a wholly-owned subsidiary of Salt Lake Potash Limited). This report covers the 20 blocks relinquished in March 2018. The prime commodity sought is Sulphate of Potash (SOP); however, as this mineral does not naturally or directly crystallise from salt lake brines the exploration rationale is based on systematic exploration, evaluation and confirmation of replenishable brine resources contained in the tenement proper, prior to mineral process engineering evaluations and establishment of recoverable SOP from mineral brine resources. As the definition of groundwater recharge capacity of the lake is a prime importance for mineral brine resource evaluations, work carried out by the Company on EL 29903 geophysical review and reinterpretation of all publically available data, water sampling a total of 6 samples taken over the relinquished areas. APPT clearance survey over the tenement.