Canmax's Shengyuan Lithium Industry Wins Bid for Yichun Lithium-Containing Ceramic Clay Mine at RMB 2.51 Billion

[Canmax's wholly-owned subsidiary Shengyuan Lithium Industry won the bid for Yichun ceramic clay (containing lithium) mine at 2.51 billion yuan]

On the afternoon of November 28, Yichun Shengyuan Lithium Industry Co., Ltd. won the mining rights for the ceramic clay (containing lithium) mine in the Jinzifeng area of Fengxin County and Zuojiali area of Yifeng County at 2.51 billion yuan. The resource development and utilization capacity is 10,000,000 mt/year, with a mining period of 22.9 years (excluding a 1-year construction period). Within the open-pit mining boundary (minimum mining elevation verified by industrial indicators +320 meters), the ceramic clay (containing lithium) ore reserves are 206.257 million mt, with an associated Li2O content of 638,769 mt and an average grade of 0.31%.