Wolfsberg lithium project

In April 2017, SRK completed a scoping study on the mining and geotechnical aspects of the Wolfsberg lithium project in Austria, including the initial mine design and schedule for European Lithium Limited ("ECM"). This scoping study demonstrated the technical and economic feasibility of the project, and after additional resource drilling ECM has now commenced the pre-feasibility study (PFS) which is to be completed in Q1 2018.

DRA Global (“DRA”) will lead the PFS and integrate the work of all consultants and undertake the engineering and capital and operating cost estimates for the processing and infrastructure. SRK UK will develop mine design to PFS level and design the drilling programme to upgrade Inferred resources to Indicated category so they can be included in a future definitive feasibility study.