NEO Lithium Corp Preliminary Economic Assessment (PEA) 3Q Project NI 43-101 Technical Report Catamarca, Argentina Randy Pitts, B.Sc., Mining Eng

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NEO Lithium Corp Preliminary Economic Assessment (PEA) 3Q Project NI 43-101 Technical Report Catamarca, Argentina Randy Pitts, B.Sc., Mining Eng NEO Lithium Corp Preliminary Economic Assessment (PEA) 3Q Project NI 43-101 Technical Report Catamarca, Argentina Randy Pitts, B.Sc., Mining Eng. Rev. 0 December 2017 Table of Contents List of Abbreviations ...................................................................................................................................... 1 Summary ....................................................................................................................................................... 3 S.1 Terms of Reference .................................................................................................................. 3 S.2 Property Location, Description and Ownership ........................................................................ 3 S.3 Geology and Mineralization ...................................................................................................... 5 S.4 Exploration ................................................................................................................................ 6 S.5 Mineral Resource Estimates ..................................................................................................... 6 S.6 Lithium Recovery Process for 3Q Project ................................................................................. 7 S.7 Capital and Operating Cost Estimate ....................................................................................... 8 S.8 Economic Analysis .................................................................................................................. 10 S.9 Conclusions and Recommendations ...................................................................................... 13 1. Introduction and Terms of Reference ............................................................................................... 15 1.1 Introduction ............................................................................................................................. 15 1.2 Project Team and Responsibilities ......................................................................................... 15 1.3 Sources of Information ............................................................................................................ 17 1.4 Units and Currency ................................................................................................................. 17 1.5 Use of Report .......................................................................................................................... 17 2. Reliance on Other Experts ................................................................................................................ 18 3. Property Description and Location .................................................................................................... 19 3.1 Location .................................................................................................................................. 19 3.2 Description .............................................................................................................................. 19 3.3 Type of Mineral Tenure ........................................................................................................... 23 3.4 Royalties ................................................................................................................................. 26 3.5 Environmental Liabilities ......................................................................................................... 27 3.6 Permits .................................................................................................................................... 27 3.7 Aboriginal Communities .......................................................................................................... 27 3.8 Site Access Risk Factors ........................................................................................................ 28 4. Accessibility, Climate, Local Resources, Infrastructure and Physiography ...................................... 29 4.1 Accessibility ............................................................................................................................ 29 4.2 Climate .................................................................................................................................... 29 4.3 Local Resources ..................................................................................................................... 34 4.4 Infrastructure ........................................................................................................................... 34 4.5 Physiography .......................................................................................................................... 35 5. History ............................................................................................................................................... 37 GHD | NEO Lithium Corp - Preliminary Economic Assessment (PEA) 3Q Project, 85/11831 | i 6. Geological and Hydrological Setting ................................................................................................. 38 6.1 Regional Geology ................................................................................................................... 38 6.2 Property Geology .................................................................................................................... 38 6.3 Surface Water ......................................................................................................................... 45 6.4 Groundwater ........................................................................................................................... 52 6.5 Water Balance ........................................................................................................................ 52 7. Deposit Types ................................................................................................................................... 53 8. Mineralization .................................................................................................................................... 55 9. Exploration ........................................................................................................................................ 59 9.1 Overview ................................................................................................................................. 59 9.2 Vertical Electrical Sounding (VES) Survey ............................................................................. 59 9.3 Surface Brine Sampling Program ........................................................................................... 63 9.4 Pumping Test Program ........................................................................................................... 70 9.5 Data Processing ...................................................................................................................... 71 10. Drilling ............................................................................................................................................... 72 10.1 Overview ................................................................................................................................. 72 10.2 Diamond Drilling ...................................................................................................................... 75 10.3 Rotary Drilling ......................................................................................................................... 77 11. Sampling Method and Approach ....................................................................................................... 78 11.1 Surface Brine and Stream Methods ........................................................................................ 78 11.2 Subsurface Brine Sampling .................................................................................................... 80 11.3 Pumping Tests ........................................................................................................................ 81 12. Sample Preparation, Analyses and Security ..................................................................................... 83 12.1 Overview ................................................................................................................................. 83 12.2 Sample Preparation ................................................................................................................ 83 12.3 Brine Analysis ......................................................................................................................... 83 12.4 QA/QC Program ...................................................................................................................... 83 12.5 Laboratory Duplicate Analysis ................................................................................................ 90 12.6 Sample Security ...................................................................................................................... 91 13. Data Verification ................................................................................................................................ 92 13.1 Independent QA/QC Program ................................................................................................ 92 14. Adjacent Properties ..........................................................................................................................
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