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New High-Grade Lithium Brine Development in South America’S Lithium Triangle

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New High-Grade Lithium Brine Development in South America’S Lithium Triangle NEW HIGH-GRADE LITHIUM BRINE DEVELOPMENT IN SOUTH AMERICA’S LITHIUM TRIANGLE Benchmark World Tour Online June 2020 ASX:GLN DISCLAIMER AND IMPORTANT INFORMATION GALAN LITHIUM LIMITED INVESTMENT FOUNDATIONS. ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ A SIGNIFICANT INVESTMENT OPPORTUNITY – THE RIGHT PLACE GALAN - PLACED AMONG THE BEST PROJECTS IN ARGENTINA High grade/Low impurity brines setting Brine Resources Li (mg/l) vs Mg/Li ratio Mg/Li 12.0 Salar de Rincon - Rincon Lithium Salar de Rincon - Argosy Pastos Grandes - Centaur Res. 10.0 Pastos Grandes-Millenial Hombre Muerto - Galan (Candelas) 8.0 Cauchari - LAC Pozuelos y Pastos Grandes Olaroz 6.0 Kachi Hombre Muerto - Galaxy Hombre Muerto - Livent Diablillos Tres Quebradas 4.0 Cauchari - Advantage Hombre Muerto - Posco Hombre Muerto - Galan Salar de Aparejos Hombre Muerto - Galan (HMW) 2.0 0.0 200 300 400 500 600 700 800 900 1000 1100 Li mg/l Source: iLi Markets Nb: No resources figures publicly available for Livent’s Fenix operation GALAN - PLACED AMONG THE BEST PROJECTS IN ARGENTINA Low impurity brines setting Brine Resources SO4/Li ratio vs Mg/Li ratio Mg/Li 12.0 Pastos Grandes - Centaur Res. Pastos Grandes-Millenial Salar de Rincon - Rincon Lithium 10.0 Pozuelos y Pastos Grandes Salar de Rincon - Argosy 8.0 Hombre Muerto - Galan Hombre Muerto - Posco Hombre Muerto - Livent 6.0 Hombre Muerto - Galan (Candelas) Hombre Muerto - Galaxy Hombre Muerto - Galan (HMW) Tres Quebradas Diablillos Olaroz Cauchari - Advantage 4.0 Cauchari - LAC 2.0 0.0 0.0 10.0 20.0 30.0 40.0 50.0 60.0 70.0 SO4/Li Source: iLi Markets Nb: No resources figures publicly available for Livent’s Fenix operation CORPORATE STRUCTURE Capital Structure Performance Shares GLN Shares Shares 164,817,874 Vendor Class B Shares Upon the commencement of commercial production from a 10,000,000 Unquoted Options 5,350,000 Options exercisable $0.60, 31 Aug. 2020 pilot plant 4,000,000 Options exercisable $0.3438, 11 June 2021 5,555,469 Options exercisable $0.25, 31 Aug 2020 MD Class A and Class B Shares 150,000 Options exercisable $0.20, 31 October 2022 i) Upon JORC Indicated/Measured Resource of 1Mt+ LCE 5,000,000 2,000,000 Options exercisable $0.25, 1 December 2021 ii) Upon financial close for a commercial scale lithium 5,000,000 2,071,429 Options exercisable $0.25, 31 March 2022 production facility Share Price $0.155 Cash end Apr’20 $0.8 million Market Cap ~$26 million Shareholders Directors and 25% Management Top 20 Shareholders 51% HIGHLY EXPERIENCED BOARD A civil industrial An experienced engineer Mr Jimenez corporate lawyer who has worked for world has extensive board leader in the lithium and operational industry Sociedad experience in the Química y Minera de resources and energy Chile (NYSE:SQM, sectors. Richard is Santiago Stock Executive Chairman Exchange: SQM-A, of ASX listed Toro SQM-B) for 28 years Energy Limited based in Santiago, (ASX:TOE), Executive Chile. His last position Vice President, was as Vice President Australia of TSX listed of Sales of Lithium, Meg Uranium Ltd Iodine and Industrial (TSX:MGA) and the Chemicals where he principal of Cardinals formulated the Lawyers and commercial strategy Consultants, a and marketing of boutique corporate SQM’s industrial and energy & products and was resources law firm responsible for over US$900 million worth of estimated sales in 2018. HOMBRE MUERTO: TIER 1 LOCATION WORLDWIDE FOR Li Northern Sal de Vida BRINES Market Cap: ~US$16bn Fenix Operation Market Cap: ~US$1.1bn Sal de Vida Market Cap: ~A$415m Candelas project Market Cap: ~A$24m HOMBRE MUERTO WEST (HMW) RESOURCE UPDATE Topography HMW ZONE Fault Rana de Sal 1.37Mt LCE @ 946 mg/l Li N Pata Pila/Deceo III Halite Basement Sands/silts/clays Gravels 1 km Alluvial Resource Li LCE K K KCI Category (mg/l) (t) (mg/l) (t) (t) HOMBRE MUERTO WEST (HWM) Indicated 946 1,372,466 8,733 2,380,299 4,539,231 nb; Reported at zero cut-off grade HMW RESOURCE UPSIDE HMW PORTOFINO TRANSACTION CANDELAS – STRONG BRINE CONCENTRATION RESULTS Comparative table of new developing lithium brine projects Ponds Area Li Recovery (1) Production Project Ratio (LCE t per Source (Company) (8) (Ponds (LCE t/ ha) per year) System) year to be Candelas (Galan) 70 – 80% (2) 28 – 38 (3) This announcement defined (4) Tres Quebradas (Neolithiu 67% 40 (5) 20,000 PFS, May 8 2019 m) Salar Blanco (Lithium not available 27 20,000 FS, January 17 2019 Power International) Pastos Grandes FS, September 5 77% 16 (9) 21,000 (Millennial Lithium) 2019 Pastos Grandes not available 23 (6) 20,000 PEA, January 2019 (former LSC Lithium) Olaroz-Cauchari Updated FS August ~63% (7) 33 40,000 (LAC) 2019 Presentation May 2 Olaroz Expansion not available 28 25,000 2019 and Ann Report (Orocobre) November 28 2018 Cauchari JV (former PFS Report, October not available 24 25,000 Advantage Lithium) 22 2019 More details included in Galan ASX Announcement 4 May 2020 HMW – INDICATION OF SUFFICIENT SPACE FOR EVAPORATION Source: Intrepid Potash, US ASX COMPANY COMPARISONS LITHIUM BRINES COMPARATIVE TABLE (ASX Co.s) Company Resource Average grade Project Status Preferred LCE (mg/l Li) Processing Route GLN 2.1Mt 837 JORC Indicated resource Under study, PFS estimate completed commenced Dec-19 AGY 245kt 325 PEA completed, targeting Conventional industrial production LKE 4.4Mt 211 PFS completed Ion Exchange ASN 260Kt 98 PEA completed Ion Exchange nb; Information from public company reports ACHIEVEMENTS AND INDICATIVE NEXT STEPS ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ACHIEVEMENTS AND INDICATIVE NEXT STEPS Tasks CY2018 CY 2019 CY 2020 CY 2021 CANDELAS Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Geophysics & mapping Drilling Permits Drilling JORC Resource HMW Drilling Permits Drilling JORC Resource / Update STUDIES Scoping & PFS Pilot Plant Permits Pilot Plant / Feasibility Study (Q2 2022) ARGENTINA –A PRO-MINING & INVESTMENT DESTINATION From left to right and attending the 2019 IMARC conference in Melbourne: Mr. Raul Jalil (newly elected Governor of Catamarca), Ms Lucia Corpacci (current Governor of Catamarca), GLN’s Managing Director Mr. JP Vargas de la Vega and the Mines Minister of Catamarca Mr. Rodolfo Micone GALAN LITHIUM LIMITED INVESTMENT FOUNDATIONS ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ FAST TRACKING TO LITHIUM CARBONATE PRODUCTION IN SOUTH AMERICA’S LITHIUM TRIANGLE Level 3, 30 Richardson Street, West Perth, WA 6005 PO Box 396, West Perth, WA, 6872 Ph. +61 8 9322 6283 Fax. +61 8 9322 6398 www.galanlithium.com.au ASX:GLN Email: [email protected] APENDIX 1 – LITHIUM MARKET COST CURVE – LITHIUM SUPPY FUNDAMENTALS Source: CRU SOUTH AMERICAN BRINES – SIMPLIFIED MODEL Strong Competitive Advantage to Produce Lithium Carbonate at ~USD6/kg LCE (Capex included) SC: Spodumene concentrate LC :lithium carbonate LH: Lithium hydroxide Source: iLi Markets …and, REMAINS COMPETITIVE Even when producing Lithium Hydroxide at ~USD8/kg LCE (Capex included) SC: Spodumene concentrate LC :lithium carbonate LH: Lithium hydroxide Source: iLi Markets.
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