Mineral Resource Table

Aquifer Mineral Resource Category Volume
(106 m3)		 Total
Porosity
(%)		 Brine
Volume
(106 m3)		 Specific
Yield
(%)		 Drainable
Brine
Volume
(106 m3)		 K
Grade
(mg/L)		 K
Mass
(Mt)		 SO4
Grade
(mg/L)		 SO4
Mass
(Mt)		 Equivalent
SOP Grade
(K2 SO4)
(kg/m3)		 Drainable
Brine SOP
Mass
(Mt)		 Total Brine
SOP Mass
(Mt)
LAKE THROSSELL MINERAL RESOURCE
Surficial Indicated 1,008 0.4 403 0.17 170 4,985 0.8 22,125 3.8 11.1 1.9 4.5
Basal Indicated 1,150 0.29 329 0.19 225 4,605 1.0 24,420 5.5 10.3 2.3 3.4
Total Indicated Resource 2,195 732 395 4,770 1.9 23,430 9.3 10.6 4.2 7.9
Surficial Inferred 3,074 0.43 1,313 0.1 310 4,605 1.4 21,910 6.8 10.3 3.2 13.5
Confining Layer Inferred 8,793 0.45 3,957 0.04 350 4,595 1.6 23,140 8.1 10.3 3.6 40.6
Basal Inferred 3,524 0.4 1,394 0.09 330 4,675 1.5 22,920 7.6 10.4 3.4 14.5
Total Inferred Resource 15,391 6,664 990 4,625 4.5 22,680 22.5 10.3 10.2 68.6
Total 17,550 7,396 1,385 4,666 6.4 22,894 31.8 10.4 14.4 76.5
LAKE RASON INFERRED MINERAL RESOURCE
Surficial Inferred 3,060 0.4 1220 0.1 306 2,290 0.70 21,400 6.55 5.1 1.56 6.23
Crete Inferred 5,020 0.38 1910 0.07 351 2,330 0.82 20,900 7.34 5.2 1.83 9.91
Mixed Inferred 230 0.3 70 0.1 23 2,390 0.05 21,900 0.50 5.3 0.12 0.36
Basal Sand Inferred 1,020 0.3 310 0.21 214 2,390 0.51 22,600 4.84 5.3 1.14 1.63
Saprolite Inferred 2,800 0.2 560 0.03 84 2,210 0.19 21,000 1.76 4.9 0.41 2.76
Saprock Inferred 9,310 0.1 930 0.02 186 2,050 0.38 21,000 3.91 4.6 0.85 4.25
Total 21,400 4,990 1,160 2,280 2.65 21,400 24.89 5.1 5.91 25.2
TOTAL MINERAL RESOURCE 38,950 12,386 2,545 3,579 9.1 22,213 56.7 8.0 20.3 101.7
LAKE THROSSELL EXPLORATION TARGET (in addition)
Lower Estimate 5,807 288 4,081 1.2 9.1 2.6
Upper Estimate 10,925 945 4,466 4.2 10 9.4

Note: Errors may be present due to rounding, approximately 1.2Mt of Drainable SOP Mass is present in Exploration License Application E38/3437. Approximately 2.86Mt of the Drainable SOP Mass is present in Exploration License Applications E38/3544, E38/3483, E38/3458, and E38/3537. Total porosity and total brine SOP mass is provided to compare the total SOP tonnes with the drainable Resources. As can be seen, the total brine volume of 102.53Mt is significantly higher than reported drainable brine volume of 20.19Mt. The drainable brine volume represents the amount of SOP that can be abstracted from the deposit under normal pumping conditions. For economic production, the drainable brine volume is the most important volume because only a proportion of the total brine present can be typically abstracted from the deposit. The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration in these areas to estimate a Mineral Resource. It is uncertain if further exploration will result in the estimation of a Mineral Resource.

 

Competent Person Statement

The information in this announcement that relates to the Exploration Results, Mineral Resource estimate and Exploration Target is based upon information compiled by Mr Adam Lloyd, who is employed by Aquifer Resources Pty Ltd, an independent consulting company. Mr Lloyd is a Member of the Australian Institute of Geoscientists and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and the activity to which is being undertaking to qualify as a Competent Person for reporting of Exploration Results, Mineral Resources and Ore Reserves as defined in the 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Lloyd consents to the inclusion in the announcement of the matters based upon the information in the form and context in which it appears.