The deposit is a pegmatite hosted spodumene lithium deposit. The pegmatites are hosted entirely within granitic rocks.

The Project is located within broadly north-south trending belts of Birimian (Paleoproterozoic) metavolcanic and metasedimentary rocks which are intruded by syn- and post-orogenic granitoids which host an array of spodumene bearing pegmatite dykes and sills. Outcrop is limited and geology is interpreted from mapping, drilling, and geophysics. Northeast striking metapelite and metagreywacke rocks in the north and east of the property are intruded by granodiorites and pegmatite dykes and sills in the south. Regolith is up to 10 metres thick and comprises a surficial transported gravel horizon overlying a thin laterite weathering profile. Weathering varies from less than a metre to up to 70 metres depth.

The Goulamina deposit consists of a swarm of sub-parallel spodumene bearing pegmatite dykes which intrude the granodiorite. They strike NE-NNE, dip between 50 and 70 degrees to the east, are between 1 and 2 kilometres in length and between 5 metres and 100 metres thick. From east to west the major pegmatite dykes are named; Main, West, Sangar I, Sangar II and Danaya. At Danaya, the pegmatites are variously oriented.

Pegmatite contains between 0.5% and 25% of the lithium bearing pyroxene mineral spodumene, resulting in grades between 0.1% Li2O and 6% Li2O. The major minerals are quartz and feldspar (albite and microcline) with minor muscovite. The pegmatites are comprised of both coarse-grained pegmatite (up to >10cm spodumene blades) and white fine-grained (<1mm) aplite or albitite. The logged ratio of coarse grained to fine-grained material is about 3:1. Albitite contains only minor spodumene.

The Goulamina Mineral Resource has an overall strike extent of 2.9km N-S, and 1.5km E-W. Mineralisation is exposed at surface in the central portion of the Main Zone. The remaining mineralisation domains are buried below laterite and weathered saprolite, and saprock. Weathering and laterisation processes have removed most of the Li2O from the pegmatites between the surface and the base of oxidation (BOCO). No resources have been defined in the weathered part of the resource as this clay rich material is deleterious to the process and cannot be economically beneficiated.

The deepest drilling extends to 230m below surface and the deepest known mineralisation is at 220m below surface. The Inferred Mineral Resource extends to 300m below surface. The interpreted mineralisation has not been closed off at depth, although in a few areas, deep watercourses appear to have preferentially eroded spodumene (and Li2O ) from the pegmatite host.

Mineralised zones in the north-eastern domains are interpreted to dip moderately to the northeast. Drilling is generally oriented - 60 degrees due west. Intersection angles on the mineralised zone are between 35 and 65 degrees depending on the local strike of themineralised pegmatite. True widths of mineralisation are between about 75% and 40% of downhole widths.

Mineralised zones in the Danaya resource area are hosted within intersecting dykes and sills that are shown to be variously oriented.

A standard open-pit mining operation of drill, blast, excavation, and truck haulage will be employed for the Project. Contractors will be employed for mining operations. Given the nature of the deposit, the pegmatites will be mined from footwall to hanging wall, rather than selectively using a cutoff grade.

The shape and geometry of the final and internal designs allowed the main pit to be mined in four successive stages A starter pit will be developed on each of the Main and Sangar domains followed by a cutback to fully exploit Sangar and then a further cutback of the sangar pit to exploit the Main and West domains. A satellite pit at Danaya forms an independent fifth stage.

Mining will create flat, 5 metre height working benches to allow geological mapping and grade control via RC and blast hole drilling. Where possible, waste will be blasted separately from ore. Blasting primarily 5 metre bench heights using bulk emulsion explosives and non-electric initiation. There will be some bulk waste areas where higher 10 metre benches will be employed.

Excavation of the ore and waste will be undertaken with 2 x 120 – 150 tonne excavators. Haulage of ore and waste will be undertaken using up to 10 x 90 tonne dump trucks operating on two-way haul roads with a maximum gradient of 10%. The ore will be hauled to the ROM pad and tipped onto finger stockpiles of low, medium, and high-grade ore. A front-end loader will feed a blend of ore into the primary crusher to keep the feed grade consistent with the mine production schedule, which seeks to optimise bothrecovery and concentrate grade.

Open pit wall slope angles were based on a geotechnical assessment. A ramp width of 25m based on the selected truck size. The resulting overall slope angles on the final pit approximate 46° in fresh rock and 36° in weathered material, depending on ramp location.

The dry crushing and screening circuit consists of a conventional open circuit primary jaw crusher and cone crusher in closed circuit with dry screening. A crushed ore bin, with 6 hours live capacity and a dedicated emergency loading facility, allows surge between crushing and screening and the wet processing plant. The final crush size of 6mm will be achieved with the HPGR in closed circuit with wet screening. In preparation for flotation, a 6MW ball mill, designed to grind to P80<106-150 µm, will be used in close circuit with conventional cyclone classification for final comminution.

The metallurgical process selected for Goulamina is a proven contemporary process for the beneficiation of spodumene-containing ores to saleable spodumene concentrates.

The process is standard practice and involves crushing, grinding, desliming, magnetic separation, multi stage flotation, concentrate filtration and bulk transport to consumer.

The process plant is designed to treat ore at the rate of 2.3 million tonnes per annum. Ore hauled from the open pits will be stockpiled on a ROM pad and loaded into the crushing circuit via front end loader. Blending of ore from different areas in the pit will be possible by simultaneous loading from numerous ROM stockpiles with different grades recorded.

The milled ore is deslimed, iron bearing minerals removed with magnetic separators and mica removed prior to spodumene flotation. The multi-stage flotation circuit design includes rougher, cleaner and scavenger tank cells.

Concentrate will be dewatered via conventional vacuum belt filters for thickening and filtration. The dewatered product will be stockpiled in covered sheds, ready for loading onto road transport. All tailings from the processing plant will be dewatered in a thickener and pumped to the nearby tailings storage facility. Reagent storage and mixing facilities will be provided to support operations. The plant layout design was optimised to reduce footprint, pipe racks and conveyor lengths.