Resource World Magazine

48 www.resourceworld.com D E C E M B E R / J A N U A R Y 2 0 1 7 V ancouver-based, Advantage Lithium Corp. [AAL-TSXV] has been putting together an impressive international lithium project portfolio that includes prop- erties in Nevada, Mexico and Argentina. In the latest development, Advantage Lithium has signed a letter of intent with Australia-based Orocobre Limited [ORL- TSX; ORE-ASX] – one of Argentina's leading lithium producers – to acquire up to 75% of Orocobre's Cauchari Project and a 100% interest in five other lithium brine projects. The projects, covering 85,543 hectares, are located in the northern prov- inces of Jujuy, Salta and Catamarca in Argentina's Lithium Triangle and include Cauchari, Antofalla, Incahuasi, plus two projects under application. When final- ized, Orocobre will own 40,622,200 Advantage Lithium shares for a minimum ownership of 31.12% on a fully-diluted basis, post capital raising. Advantage Lithium will be operator of the projects. The partners will form a joint venture for the Cauchari Project, which hosts an inferred resource of 470,000 tonnes of lithium carbonate equivalent and 1.62 million tonnes of potash from the combined northern and southern resource as well as a large exploration target of 5.6 Mt to 0.25 Mt of LCE and 19 Mt to 0.9 of KCL. The Cauchari Project is only 20 km south of Orocobre's flagship Olaroz Lithium Facility. Advantage may increase its initial 50% interest in Cauchari to 75% interest by spending US $5 million on explora- tion over three years or completing a NI 43-101 feasibility study. In a related mat- ter, Advantage Lithium will carry out an equity financing to raise between US $15,000,000 and US $25,000,000 to main- tain and advance the projects. Orocobre will retain a 1% royalty on the Cauchari properties, and will have a right of first refusal on brine production (and may enter into an offtake agreement in respect of such production). Nevada: In August 2016, Advantage Lithium signed an option to acquire up to a 70% interest in three Nevada lithium projects, 50% in two Nevada lithium proj- ects and 100% of certain water rights in the Clayton Valley from Nevada Sunrise Gold Corp. [NEV-TSXV]. All five projects are in or near Clayton Valley and four are drill-ready. The most interesting at this stage is the Clayton NE Project, next to Albemarle's Silver Peak lithium mine, the only lithium producer in North America, Advantage Lithium and Orocobre to partner in Argentina Drilling at advantage Lithium's Clayton Ne project in Nevada. photo courtesy of advantage Lithium Corp. miNiN g www.playfairmining.com Vancouver, BC 604.687.7178 1.888.244.6644

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