The mineralised pegmatites are thought to be concurrent and cross-cutting dike swarms extending from the Cherryville granite. As the dikes progressed further from their sources, they became increasingly enriched in incompatible elements such as lithium (Li) and tin (Sn). The dikes are considered to be unzoned.

Within the Project, spodumene pegmatites are hosted in a fine to medium grained, weakly to moderately foliated, biotite, hornblende, quartz feldspar gneiss or commonly referred to as amphibolite. The spodumene pegmatites range from fine grained (aplite) to very coarse-grained pegmatite with primary mineralogy consisting of spodumene, quartz, plagioclase, potassium-feldspar and muscovite.

Three main zones of mineralisation have been extensively drilled leading to Indicated and Inferred Mineral Resource classifications. The largest is in the western portion of the property, known as the B-G Corridor, where close spaced drilling has identified mineralisation for 1,400 metres along strike and to a depth of 150 to 200 metres below surface. This corridor accounts for 54% of the total resource reported.

The F Corridor is the second largest area of mineralisation and accounts for 30% of the total resource reported. This corridor is located along the eastern portion of the property and also consists of multiple pegmatite dikes, these dikes have been drilled for 750 metres along strike and 150 to 200 metres below surface.

The third area, known as the S Corridor, is divided into two zones of mineralisation and accounts for the remaining 16% of the total resource reported.

Independent consultants Marshall Miller and Associates used SimSched™ software to generate a series of economic pit shells using the updated Mineral Resource block model and input parameters as agreed by Piedmont. Overall slope angles in rock were estimated following a preliminary geotechnical analysis that utilized fracture orientation data from oriented core and downhole geophysics (Acoustic Televiewer), as well as laboratory analysis of intact rock strength. The preliminary geotechnical assessment involved both kinematic and overall slope analyses utilizing Rocscience™ modeling software.

Overall slope angles of 45 degrees were assumed for overburden and oxide material. Overall slope angles of 53 degrees were estimated for fresh material which includes a ramp width of 30 meters. Production schedules were prepared for the Project based on the following parameters:

- A targeted run-of-mine production of 1.95 Mt/y targeting concentrator output of about 248,000 t/y of SC6
- Mining dilution of 10%
- Mine recovery of 100%
- Concentrator processing recovery of 80%
- Mine sequence targets maximized utilization of Indicated Mineral Resources at the front end of the schedule.

The results reported are based upon a scenario which maximizes extraction of Indicated Resources in the early years of production. Indicated resources represent 100% of the tonnes processed in years 1-3 of operations. The results reported assume that the Core property is mined from year 1-17 with the Central property mined in years 17-19 and the Huffstetler property mined in years 19-20.

Piedmont engaged SGS Canada Inc. in Lakefield, Ontario to undertake testwork on variability and composite samples. Dense Medium Separation (“DMS”) and locked-cycle flotation tests produced high-quality spodumene concentrate with a grade above 6.0% Li 2 O, iron oxide below 1.0%, and low impurities from composite samples. The feed grade of the composite sample was 1.11% Li 2 O.

This Study assumes a spodumene recovery of 80% when targeting a 6.0% Li 2 O spodumene concentrate product. The Company is currently undertaking additional variability sample testing concurrent with ongoing Definitive Feasibility Study (“DFS”) activities.

The production of bulk quartz and feldspar concentrates as by-products from the spodumene locked-cycle flotation tailings was investigated. Six individual batch tests were conducted with the quartz and feldspar concentrates being composited. Additional by-product testwork in conjunction with DFS is ongoing.

The concentrator proces ........