AUXICO has executed a Memorandum of Understanding to acquire 85% equity interest in Empresa Minera El Benton S.R.L. which that holds the mining title and rights to the El Benton Mine and adjacent Monte Verde concessions. El Benton is a past producing mine in Bolivia which has previously exported high-grade 22.25% tantalum*, 48.97% niobium*, and has indicated samples with grades up to 1.31% lithium*, and concentrates with grades in excess of 54% total rare earth oxide content*, and other critical minerals confirmed such as scandium and rubidium. The El Benton Mine and Monte Verde properties, combined, represent approximately 739 hectares located ~200 km from the city of Santa Cruz. A visit conducted by the Company’s qualified geologists to the El Benton Mine resulted in 14 surface samples and the discovery of pegmatite structures which contained lithium over a 1km strike length. Some of the lithium contained in lepidolite boulders also indicated extremely high values of other critical minerals; a 1-tonne rock mass fallen from wall structure contained massive Li-Rb bearing lepidolite with grades of 1.92-2.02 kg/tonne of lithium, 8.3-9.6 kg/tonne of rubidium, 0.45 kg/tonne gallium, 0.89 kg/tonne cesium and 0.59 kg/tonne neodymium (Sample: S00357812, S00357813), and a tourmaline pegmatite with 0.16 kg/tonne scandium (Sample: S00357805). ICP analysis conducted by Impact Global Solutions in Canada, of outcrop samples taken from the El Benton Mine include grades of 1.31% lithium, 6.76% yttrium, 11.73% molybdenum, 0.16% dysprosium, 0.31% neodymium, 0.36% samarium, 0.11% terbium, 0.59% ytterbium. *The technical information that is historic in nature relating to previous exports and sampling from El Benton and Monte Verde have not been independently verified by the Company or the Qualified Person.

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