FURTHER HIGH-GRADE ASSAY RESULTS CONTINUE TO EXTEND MINERALIZATION AT THE PIEDMONT LITHIUM PROJECT

Transcription

1 ASX RELEASE Nvember 29, 2017 ASX:PLL; OTC-Nasdaq:PLLLY FURTHER HIGH-GRADE ASSAY RESULTS CONTINUE TO EXTEND MINERALIZATION AT THE PIEDMONT LITHIUM PROJECT Assay results frm a further 26 drill hles f the Phase 2 prgram have been received and cntinue t cnfirm high grade lithium mineralizatin alng the 4 kilmeters f strike within the Prject including: 24.38m f cumulative thickness f mineralizatin acrss 3 pegmatites which includes high grade intercepts f 1.01% Li2O and 1.28% Li2O in Hle 17-BD m f cumulative thickness f mineralizatin acrss 5 pegmatites which includes high grade intercepts f 1.29% Li2O, and 1.14% Li2O in Hle 17-BD m f cumulative thickness f mineralizatin acrss 4 pegmatites which includes high grade intercepts f 1.31% Li2O and 1.36% Li2O in Hle 17-BD m f cumulative thickness f mineralizatin acrss 4 pegmatites which includes high grade intercepts f 1.34% Li2O and 1.41% Li2O in Hle 17-BD m f cumulative thickness f mineralizatin acrss 3 pegmatites which includes high grade intercepts f 1.27% Li2O and 1.20% Li2O in Hle 17-BD m f cumulative thickness f mineralizatin acrss 2 pegmatites which includes a high grade intercept f 1.46% Li2O in Hle 17-BD-102 The Cmpany has nw received assays fr 76 f the 93 Phase 2 drill hles and anticipates receiving assay results fr the remaining 17 drill hles ver the next few weeks A Schematic Lng Sectin fr the B and G crridrs has been prepared based n drilling results t-date (Figure 1) and illustrates the cntinuity f mineralizatin alng strike fr 1400 meters Preliminary gelgical mdelling has, thus far, identified 38 pegmatite bdies within the 4+ kilmeters f strike n the Prject with the vast majrity being intersected at depths less than 100 meters frm surface As a result f the wrk dne t date the Cmpany is cnfident in defining a shallw, pen-pitable depsit within the Piedmnt Lithium Prject strategically lcated within the USA Keith D. Phillips, President and Chief Executive Officer, said, These additinal drill results are utstanding and cnfirm ur belief in the Piedmnt Lithium Prject. Our team has discvered a wrldclass mineral system with ver 30 pegmatite bdies ver a cmbined 4+ kilmeters f strike length, virtually all within 100 meters f surface. We lk frward t receiving the remaining Phase 2 assay results ver the cming weeks. PIEDMONT LITHIUM LIMITED New Yrk Office Registered Office E 46th Street, 3 rd Flr Level 9, 28 The Esplanade inf@piedmntlithium.cm NEW YORK NY PERTH WA 6000

2 Fr further infrmatin, cntact: Keith D. Phillips Anastasis (Tas) Arima President & CEO Executive Directr T: T: E: E: Figure 1: Piedmnt Lithium Prject Schematic Nrtheast-Suthwest Lng Sectin Piedmnt Lithium Limited (ASX: PLL, OTC: PLLLY) ( Piedmnt r Cmpany ) is pleased t reprt further high-grade mineralisatin frm the 93-hle Phase 2 drilling campaign n the Piedmnt Lithium Prject ( Prject ) lcated within the wrld-class Carlina Tin-Spdumene Belt ( TSB ). Phase 2 Results and Discussin In additin t the first 51 Phase 2 drill hles (reprted September 26, 2017 and Nvember 2, 2017), the current grup f 26 drill hles reprted in this release cntinue t define high grade mineralised trends ttalling ver 4 kilmeters in strike. The entire Pegmatite system remains pen at depth and alng strike. Drill hle details and weighted-cmpsite assay intercepts are attached as Table 1. Gelgical mdelling has begun n the results frm the Phase 2 drill campaign with initial results indicating the presence f 38 pegmatite bdies acrss the 4+ kilmetres f strike length n the Prject. Imprtantly, the vast majrity f the dykes have been intersected at shallw depths f less than 100 metres vertically. These initial results give the Cmpany cnfidence in being able t define a shallw, pen-pitable depsit which is strategically lcated within the histrical lithium mining and prcessing regin f the USA. Lgging, sampling and shipping f all Phase 2 drill cre samples has been cmpleted. All assays frm the Phase 2 prgram shuld be received frm SGS Labs by early-december. The Phase 2 drill hles reprted in this release highlight the initial high grade intercepts with significant cumulative thickness within the Star Crridr (figure 3) and further defined the mineralizatin in the B, F & G crridrs. Significant intercepts within the B, F & G crridrs cntinued t display similar high grade results as have been previusly reprted. 2

3 Figure 2: Piedmnt Lithium Phase 2 Drilling with Mineralized Trends Significant intercepts frm the Star Crridr include: 22.82m f cumulative thickness f mineralizatin acrss 4 pegmatites which includes high grade intercepts f 1.31% Li2O and 1.36% Li2O in Hle 17-BD m f cumulative thickness f mineralizatin acrss 4 pegmatites which includes high grade intercepts f 1.34% Li2O and 1.41% Li2O in Hle 17-BD m f cumulative thickness f mineralizatin acrss 4 pegmatites which includes high grade intercepts f 1.20% Li2O and 1.31% Li2O in Hle 17-BD m f cumulative thickness f mineralizatin acrss 3 pegmatites which includes high grade intercepts f 1.23% Li2O and 1.12% Li2O in Hle 17-BD-101 3

4 Figure 3: Piedmnt Lithium Prject - Star Crridr Crss Sectin Figure 4: Piedmnt Lithium Prject - Mineralized Trends and Drill Hle Lcatins 4

5 Abut Piedmnt Lithium Piedmnt Lithium Limited (ASX: PLL; OTC-Nasdaq: PLLLY) hlds a 100% interest in the Piedmnt Lithium Prject ( Prject ) lcated within the wrld-class Carlina Tin-Spdumene Belt ( TSB ) and alng trend t the Hallman Beam and Kings Muntain mines, histrically prviding mst f the western wrld s lithium between 1950 and The TSB is ne f the premier lcalities in the wrld t be explring fr lithium pegmatites given its histry f lithium bearing spdumene mining, favrable gelgy and ideal lcatin with easy access t infrastructure, pwer, R&D centers fr lithium and battery strage, majr high-tech ppulatin centers and dwnstream lithium prcessing facilities. Piedmnt Lithium Lcatin and Bessemer City Lithium Prcessing Plant (FMC, Tp Right) and Kings Muntain Lithium Prcessing Facility (Albemarle, Tp Left) The TSB has previusly been described as ne f the largest lithium prvinces in the wrld and is lcated apprximately 40 kilmeters west f Charltte, Nrth Carlina, United States. The TSB was the mst imprtant lithium prducing regin in the western wrld prir t the establishment f the brine peratins in Chile in the late 1990s. The TSB extends ver apprximately 60 kilmeters in length and reaches a maximum width f apprximately 1.6 kilmeters. The Prject was riginally explred by Lithium Crpratin f America which eventually was acquired by FMC Crpratin ( FMC ). FMC and Albemarle Crpratin ( Albemarle ) bth histrically mined the lithium bearing spdumene pegmatites frm the TSB with the histric Kings Muntain lithium mine being described as ne f the richest spdumene depsits in the wrld by Albemarle. These tw mines and their respective metallurgy als frmed the basis fr the design f the tw lithium prcessing facilities in the regin which were the first mdern spdumene prcessing facilities in the western wrld. Albemarle and FMC cntinue t perate these imprtant lithium prcessing facilities with FMC s Bessemer City lithium prcessing facility being apprximately 14 kilmeters frm the Prject whilst Albemarle s Kings Muntain lithium prcessing facility is apprximately 17 kilmeters frm the Prject. The Cmpany is in a unique psitin t leverage its psitin as a first mver in restarting explratin in this histric lithium prducing regin with the aim f develping a strategic, U.S. dmestic surce f lithium t supply the increasing electric vehicle and battery strage markets. 5

6 Frward Lking Statements This annuncement may include frward-lking statements. These frward-lking statements are based n Piedmnt s expectatins and beliefs cncerning future events. Frward lking statements are necessarily subject t risks, uncertainties and ther factrs, many f which are utside the cntrl f Piedmnt, which culd cause actual results t differ materially frm such statements. Piedmnt makes n undertaking t subsequently update r revise the frward-lking statements made in this annuncement, t reflect the circumstances r events after the date f that annuncement. Cmpetent Persns Statement The infrmatin in this annuncement that relates t Explratin Results is based n, and fairly represents, infrmatin cmpiled r reviewed by Mr Lamnt Leatherman, a Cmpetent Persn wh is a Registered Member f the Sciety fr Mining, Metallurgy and Explratin, a Recgnised Prfessinal Organisatin (RPO). Mr Leatherman is a cnsultant t the Cmpany. Mr Leatherman has sufficient experience that is relevant t the style f mineralizatin and type f depsit under cnsideratin and t the activity being undertaken t qualify as a Cmpetent Persn as defined in the 2012 Editin f the Australasian Cde fr Reprting f Explratin Results, Mineral Resurces and Ore Reserves. Mr Leatherman cnsents t the inclusin in the reprt f the matters based n his infrmatin in the frm and cntext in which it appears. 6

7 APPENDIX 1: SUMMARY OF CORE DRILL HOLE INTERSECTIONS Hle ID Easting Nrthing Elev. Az. ( ) Dip ( ) Depth Frm T Intercept 17-BD Li2O (%) and and including and BD and and and including including and BD including and BD including BD BD_85 17-BD-86 assays pending assays pending assays pending 17-BD and including including and BD N significant results 17-BD and including BD and and including BD and and and including BD N significant results 17-BD and and BD-94 assays pending 7

8 Hle ID Easting Nrthing Elev. Az. ( ) Dip ( ) Depth Frm T Intercept 17-BD Li2O (%) and and and including BD-96 assays pending 17-BD including and including BD including and and and BD and BD including including , BD and including and including BD including and BD including BD and 103, BD and BD and BD and including BD and including BD-109 assays pending 8

9 Hle ID Easting Nrthing Elev. Az. ( ) Dip ( ) Depth Frm T Intercept 17-BD Li2O (%) and BD including N significant results 9

10 APPENDIX 2 JORC TABLE 1 CHECKLIST OF ASSESSMENT AND REPORTING CRITERIA Sectin 1 Sampling Techniques and Data Criteria JORC Cde explanatin Cmmentary Sampling techniques Drilling techniques Drill sample recvery Lgging > Nature and quality f sampling (e.g. cut channels, randm chips, r specific specialised industry standard measurement tls apprpriate t the minerals under investigatin, such as dwnhle gamma sndes, r handheld XRF instruments, etc.). These examples shuld nt be taken as limiting the brad meaning f sampling. > Include reference t measures taken t ensure sample representivity and the apprpriate calibratin f any measurement tls r systems used. > Aspects f the determinatin f mineralisatin that are Material t the Public Reprt. In cases where industry standard wrk has been dne this wuld be relatively simple (e.g. reverse circulatin drilling was used t btain 1 m samples frm which 3 kg was pulverised t prduce a 30 g charge fr fire assay ). In ther cases mre explanatin may be required, such as where there is carse gld that has inherent sampling prblems. Unusual cmmdities r mineralisatin types (e.g. submarine ndules) may warrant disclsure f detailed infrmatin. > Drill type (e.g. cre, reverse circulatin, penhle hammer, rtary air blast, auger, Bangka, snic, etc.) and details (e.g. cre diameter, triple r standard tube, depth f diamnd tails, face-sampling bit r ther type, whether cre is riented and if s, by what methd, etc.). > Methd f recrding and assessing cre and chip sample recveries and results assessed. > Measures taken t maximise sample recvery and ensure representative nature f the samples. > Whether a relatinship exists between sample recvery and grade and whether sample bias may have ccurred due t preferential lss/gain f fine/carse material. > Whether cre and chip samples have been gelgically and getechnically lgged t a level f detail t supprt apprpriate Mineral Resurce estimatin, mining studies and metallurgical studies. > Whether lgging is qualitative r quantitative in nature. Cre (r cstean, channel, etc.) phtgraphy. > The ttal length and percentage f the relevant intersectins lgged. All results reprted are frm diamnd cre samples. The cre was sawn at an rientatin nt influenced by the distributin f mineralizatin within the drill cre (i.e. bisecting mineralized veins, r cut perpendicular t a fabric in the rck that is independent f mineralizatin, such as fliatin). Diamnd drilling prvided cntinuus cre which allwed cntinuus sampling f mineralized znes. The cre sample intervals were a minimum f 0.35m and a maximum f 1.5m fr HQ r NQ drill cre (except in saprlitic areas f pr recvery where sample intervals may exceed 1.5m in length), and tk int accunt lithlgical bundaries (i.e. sample was t, and nt acrss, majr cntacts). Standards and blanks were inserted int the sample stream t assess the accuracy, precisin and methdlgy f the external labratries used. In additin, field duplicate samples were inserted t assess the variability f the mineralisatin., The labratries undertake their wn duplicate sampling as part f their internal QA/QC prcesses. Examinatin f the QA/QC sample data indicates satisfactry perfrmance f field sampling prtcls and assay labratries prviding acceptable levels f precisin and accuracy. All diamnd drill hles were cllared with HQ and were transitined t NQ nce nnweathered and unxidized bedrck was encuntered. Drill cre was recvered frm surface. Oriented cre was cllected n select drill hles using the REFLEX ACT III tl by a qualified gelgist at the drill rig. The rientatin data is currently being evaluated. The cre was transprted frm the drill site t the lgging facility in cvered bxes with the utmst care. Once at the lgging facility, the fllwing prcedures were carried ut n the cre: 1. Re-aligning the brken cre in its riginal psitin as clsely as pssible. 2. The length f recvered cre was measured and meter marks clearly placed n the cre t indicate depth t the nearest centimetre. 3. The length f cre recvered was used t determine the cre recvery, which is the length f cre recvered divided by the interval drilled (as indicated by the ftage marks which was cnverted t meter marks), expressed as a percentage. This data was recrded in the database. The cre was phtgraphed wet befre lgged. 4. The cre was phtgraphed again immediately befre sampling with the sample numbers visible. Sample recvery was cnsistently gd except fr znes within the xidized clay and saprlite znes. These znes were generally within the tp 20m f the hle. N relatinship is recgnized between recvery and grade. The drill hles were designed t intersect the targeted pegmatite belw the xidized zne. Gelgically, data was cllected in detail, sufficient t aid in Mineral Resurce estimatin. Cre lgging cnsisted f marking the cre, describing lithlgies, gelgic features, percentage f spdumene and structural features measured t cre axis. The cre was phtgraphed wet befre lgging and again immediately befre sampling with the sample numbers visible. All the cre frm the twenty-six hles reprted was lgged. 10

11 Criteria JORC Cde explanatin Cmmentary Sub-sampling techniques and sample preparatin Quality f assay data and labratry tests > If cre, whether cut r sawn and whether quarter, half r all cre taken. > If nn-cre, whether riffled, tube sampled, rtary split, etc. and whether sampled wet r dry. > Fr all sample types, the nature, quality and apprpriateness f the sample preparatin technique. > Quality cntrl prcedures adpted fr all subsampling stages t maximise representivity f samples. > Measures taken t ensure that the sampling is representative f the in situ material cllected, including fr instance results fr field duplicate/secnd-half sampling. > Whether sample sizes are apprpriate t the grain size f the material being sampled. > The nature, quality and apprpriateness f the assaying and labratry prcedures used and whether the technique is cnsidered partial r ttal. > Fr gephysical tls, spectrmeters, handheld XRF instruments, etc., the parameters used in determining the analysis including instrument make and mdel, reading times, calibratins factrs applied and their derivatin, etc. > Nature f quality cntrl prcedures adpted (e.g. standards, blanks, duplicates, external labratry checks) and whether acceptable levels f accuracy (i.e. lack f bias) and precisin have been established. Cre was cut in half with a diamnd saw. Standard sample intervals were a minimum f 0.35m and a maximum f 1.5m fr HQ r NQ drill cre, taking int accunt lithlgical bundaries (i.e. sample t, and nt acrss, majr cntacts). The preparatin cde is CRU21 (crush t 75% f sample <2mm) and PUL45 (pulverize 250g t 85% <75 micrns). A CRM r carse blank was included at the rate f ne fr every 20 drill cre samples (i.e. 5%). Sampling precisin is mnitred by selecting a sample interval likely t be mineralized and splitting the sample int tw ¼ cre duplicate samples ver the same sample interval. These samples are cnsecutively numbered after the primary sample and recrded in the sample database as field duplicates and the primary sample number recrded. Field duplicates were cllected at the rate f 1 in 20 samples when sampling mineralized drill cre intervals Samples were numbered sequentially with n duplicates and n missing numbers. Triple tag bks using 9-digit numbers were used, with ne tag inserted int the sample bag and ne tag stapled r therwise affixed int the cre tray at the interval the sample was cllected. Samples were placed inside pre-numbered sample bags with numbers cinciding t the sample tag. Quality cntrl (QC) samples, cnsisting f certified reference materials (CRMs), were given sample numbers within the sample stream s that they are masked frm the labratry after sample preparatin and t avid any duplicatin f sample numbers. All samples frm the Phase II drilling were shipped t the SGS labratry in Lakefield, Ontari. The preparatin cde was CRU21 (crush t 75% f sample <2mm) and PUL45 (pulverize 250g t 85% <75 micrns). The analyses cde was GE ICM40B (multi-acid digestin with either an ICP-ES r ICP- MS finish), which has a range fr Li f 1 t 10,000 (1%) ppm Li. The ver-range methd cde fr Li >5,000 ppm is GE ICP90A, which uses a perxide fusin with an ICP finish, and has lwer and upper detectin limits f and 5% respectively. Starting in August, samples were switched t being analysed using GE ICP90A Li nly and then t GE ICP91A Li nly. Bulk Densities are cllected frm each drill hle (ne hst rck and ne mineralized rck) using analyses cde GPHY04V. Phase I samples were shipped t the Bureau Veritas minerals labratry in Ren, Nevada. The preparatin cde was PRP (crush t 70% f sample <2mm, pulverize 250g t 85% <75 micrns). The analysis cde was MA270 (multi-acid digestin with either an ICP-ES r ICP-MS finish), which has a range fr Li f 0.5 t 10,000 ppm (1%) Li. This digestin prvides nly partial analyses fr many elements in refractry minerals, including Ta and Nb. It des nt include analyses fr Cs. The ver-range methd cde fr Li>10,000 ppm is PF370, which uses a perxide fusin with an ICP-ES finish, and has lwer and upper detectin limits f and 50%, respectively. The labratry was instructed t implement the ver-range methd in all samples that exceed 5,000 ppm Li t allw fr pr data precisin near the upper limit f detectin using MA270. Histrical samples (hles 09-BD-01 thrugh 10-BD-19) were submitted t ALS Vancuver fr analysis. Accuracy mnitring was achieved thrugh submissin and mnitring f certified reference materials (CRMs). Sample numbering and the inclusin f CRMs was the respnsibility f the prject gelgist submitting the samples. A CRM r carse blank was included at the rate f ne fr every 20 drill cre samples (i.e. 5%). The CRMs used fr this prgram were supplied by Gestats Pty Ltd f Perth, Western Australia. Details f the CRMs are prvided belw. A sequence f these CRMs cvering a range in Li values and, including blanks, were submitted t the labratry alng with all dispatched samples s as t ensure each run f 100 samples cntains the full range f cntrl materials. The CRMs were submitted as blind cntrl samples nt identifiable by the labratry. Details f CRMs used in the drill prgram (all values ppm): CRM Manufacturer Lithium 1 Std Dev GTA-01 Gestats GTA-02 Gestats GTA-03 Gestats GTA-04 Gestats GTA-06 Gestats

12 Criteria JORC Cde explanatin Cmmentary Sampling precisin was mnitred by selecting a sample interval likely t be mineralized and splitting the sample int tw ¼ cre duplicate samples ver the same sample interval. These samples were cnsecutively numbered after the primary sample and recrded in the sample database as field duplicates and the primary sample number recrded. Field duplicates were cllected at the rate f 1 in 20 samples when sampling mineralized drill cre intervals. Randm sampling precisin was mnitred by splitting samples at the sample crushing stage (carse crush duplicate) and at the final sub-sampling stage fr analysis (pulp duplicates). The carse, jaw-crushed, reject material was split int tw preparatin duplicates, smetimes referred t as secnd cuts, crusher r preparatin duplicates, which were then pulverized and analysed separately. These duplicate samples were selected randmly by the labratry. Analytical precisin was als mnitred using pulp duplicates, smetimes referred t as replicates r repeats. Data frm all three types f duplicate analyses was used t cnstrain sampling variance at different stages f the sampling and preparatin prcess. Examinatin f the QA/QC sample data indicates satisfactry perfrmance f field sampling prtcls and assay labratries prviding acceptable levels f precisin and accuracy. Verificatin f sampling and assaying Lcatin f data pints Data spacing and distributin Orientatin f data in relatin t gelgical structure Sample security > The verificatin f significant intersectins by either independent r alternative cmpany persnnel. > The use f twinned hles. > Dcumentatin f primary data, data entry prcedures, data verificatin, data strage (physical and electrnic) prtcls. > Discuss any adjustment t assay data. > Accuracy and quality f surveys used t lcate drill hles (cllar and dwn-hle surveys), trenches, mine wrkings and ther lcatins used in Mineral Resurce estimatin. > Specificatin f the grid system used. > Quality and adequacy f tpgraphic cntrl. > Data spacing fr reprting f Explratin Results. > Whether the data spacing and distributin is sufficient t establish the degree f gelgical and grade cntinuity apprpriate fr the Mineral Resurce and Ore Reserve estimatin prcedure(s) and classificatins applied. > Whether sample cmpsiting has been applied. > Whether the rientatin f sampling achieves unbiased sampling f pssible structures and the extent t which this is knwn, cnsidering the depsit type. > If the relatinship between the drilling rientatin and the rientatin f key mineralised structures is cnsidered t have intrduced a sampling bias, this shuld be assessed and reprted if material. > The measures taken t ensure sample security. Multiple representatives f Piedmnt Lithium, Inc. have inspected and verified the results. CSA has cnducted tw site visits. Dennis Arne (Managing Directr -Principal Cnsultant) tured the site, facilities and reviewed cre lgging and sampling wrkflw as well as Len McGarry (Senir Resurce Gelgist). Each prvided cmments n hw t imprve ur methds and have been addressed. Verificatin cre samples were cllected by Len McGarry with assays pending. N hles were twinned. Ten-ft rds and cre barrels were used, the cre was cnverted frm feet t meters. Li% was cnverted t Li2O by multiplying Li% by Drill cllars were lcated with the Trimble Ge 7 which resulted in accuracies <1m. All crdinates were cllected in State Plane and re-prjected t Nad83 zne17 in which they are reprted. Drill hle surveying was perfrmed n each hle using a REFLEX EZ-Trac multi-sht instrument. Readings were taken apprx. every 15 meters (50 feet) and recrded depth, azimuth, and inclinatin. Fr selected areas, the drill spacing is apprximately 40 t 80 m alng strike and dwn dip. This spacing is sufficient t establish cntinuity in gelgy and grade fr this pegmatite system. Cmpsite samples are reprted in Li2O%, this is calculated by multiplying drill length by Li2O fr each sample; then the weighted averages fr multiple samples are ttalled and divided by the ttal drill length fr the selected samples The pegmatite dikes targeted trend nrtheast and dip t the sutheast, drillhles were designed, riented t the nrthwest with inclinatins ranging frm -45 t -80 degrees, t best intersect the tabular pegmatite bdies as clse t perpendicularly as pssible. Drill cre samples were shipped directly frm the field by the prject gelgist in sealed rice bags r similar cntainers using a reputable transprt cmpany with shipment tracking capability s that a chain f custdy can be maintained. Each bag was sealed with a security strap with a unique security number. The cntainers were lcked in a shed if they were stred vernight at any pint during transit, including at the drill site prir t shipping. The labratry cnfirmed the integrity f the rice bag seals upn receipt Audits r reviews > The results f any audits r reviews f sampling techniques and data. CSA Glbal develped a Standard Operating Prcedures manual in preparatin fr the drilling prgram. CSA glbal reviews all lgging and assay data, as well as merges all data in t database that is held ff site. CSA has cnducted tw site visits. Dennis Arne (Managing Directr -Principal Cnsultant) tured the site and facilities as well as Len McGarry (Senir Resurce Gelgist). Each prvided cmments n hw t imprve ur methds and have been addressed. Verificatin cre samples were cllected by Len McGarry with assays pending. 12

13 Sectin 2 Reprting f Explratin Results Criteria JORC Cde explanatin Cmmentary Mineral tenement and land tenure status Explratin dne by ther parties > Type, reference name/number, lcatin and wnership including agreements r material issues with third parties such as jint ventures, partnerships, verriding ryalties, native title interests, histrical sites, wilderness r natinal park and envirnmental settings. > The security f the tenure held at the time f reprting alng with any knwn impediments t btaining a licence t perate in the area. > Acknwledgment and appraisal f explratin by ther parties. Piedmnt, thrugh its 100% wned subsidiary, Piedmnt Lithium, Inc., has entered int exclusive ptin agreements with lcal landwners, which upn exercise, allws the Cmpany t purchase (r lng term lease) apprximately 715 acres f surface prperty and the assciated mineral rights frm the lcal landwners. There are n knwn histrical sites, wilderness r natinal parks lcated within the Prject area and there are n knwn impediments t btaining a licence t perate in this area. The Prject is fcused ver an area that has been explred fr lithium dating back t the 1950 s where it was riginally explred by Lithium Crpratin f America which was subsequently acquired by FMC Crpratin. Mst recently, Nrth Arrw explred the Prject in 2009 and Nrth Arrw cnducted surface sampling, field mapping, a grund magnetic survey and tw diamnd drilling prgrams fr a ttal f 19 hles. Piedmnt Lithium, Inc. has btained Nrth Arrw s explratin data. Gelgy > Depsit type, gelgical setting and style f mineralisatin. Spdumene pegmatites, lcated near the lith tectnic bundary between the inner Piedmnt and Kings Muntain belt. The mineralizatin is thught t be cncurrent and crss-cutting dike swarms extending frm the Cherryville granite, as the dikes prgressed further frm their surces, they became increasingly enriched in incmpatible elements such as Li, tin (Sn). The dikes are cnsidered t be unzned. Drill hle Infrmatin Data aggregatin methds Relatinship between mineralisatin widths and intercept lengths > A summary f all infrmatin material t the understanding f the explratin results including a tabulatin f the fllwing infrmatin fr all Material drill hles: > easting and nrthing f the drill hle cllar > elevatin r RL (Reduced Level elevatin abve sea level in metres) f the drill hle cllar > dip and azimuth f the hle > dwn hle length and interceptin depth > hle length. > If the exclusin f this infrmatin is justified n the basis that the infrmatin is nt Material and this exclusin des nt detract frm the understanding f the reprt, the Cmpetent Persn shuld clearly explain why this is the case. > In reprting Explratin Results, weighting averaging techniques, maximum and/r minimum grade truncatins (e.g. cutting f high grades) and cut-ff grades are usually Material and shuld be stated. > Where aggregate intercepts incrprate shrt lengths f high grade results and lnger lengths f lw grade results, the prcedure used fr such aggregatin shuld be stated and sme typical examples f such aggregatins shuld be shwn in detail. > The assumptins used fr any reprting f metal equivalent values shuld be clearly stated. > These relatinships are particularly imprtant in the reprting f Explratin Results. > If the gemetry f the mineralisatin with respect t the drill hle angle is knwn, its nature shuld be reprted. > If it is nt knwn and nly the dwn hle lengths are reprted, there shuld be a clear statement t this effect (e.g. dwn hle length, true width nt knwn ). Details f all reprted drill hles are prvided in Appendix 1 f this reprt. Weighted averaging was used in preparing the drill cmpsites reprted. Cmpsites were reprted fr entire pegmatites, with additinal high grade sub intervals reprted frm the same pegmatite. In the case where thin wall rck intervals were included, a value f 0% Li2O was used in the weighted averaging. Li% was cnverted t Li2O% by multiplying Li% by Drill intercepts are reprted as Li2O% ver the drill length, nt true thickness. The pegmatites targeted strike nrtheast-suthwest and dip mderately t the sutheast. All hles were drilled t the nrthwest and with inclinatins ranging between -45 and - 80 Diagrams > Apprpriate maps and sectins (with scales) and tabulatins f intercepts shuld be included fr any significant discvery being reprted These shuld include, but nt be limited t a plan view f drill hle cllar lcatins and apprpriate sectinal views. Apprpriate diagrams, including a drill plan map and crss-sectin, are included in the main bdy f this reprt. 13

14 Criteria JORC Cde explanatin Cmmentary Balanced reprting > Where cmprehensive reprting f all Explratin Results is nt practicable, representative reprting f bth lw and high grades and/r widths shuld be practiced t avid misleading reprting f Explratin Results. All f the relevant explratin data fr the Explratin Results and available at this time has been prvided in this reprt. Other substantive explratin data > Other explratin data, if meaningful and material, shuld be reprted including (but nt limited t): gelgical bservatins; gephysical survey results; gechemical survey results; bulk samples size and methd f treatment; metallurgical test results; bulk density, grundwater, getechnical and rck characteristics; ptential deleterius r cntaminating substances. Further wrk > The nature and scale f planned further wrk (e.g. tests fr lateral extensins r depth extensins r large-scale step-ut drilling). > Diagrams clearly highlighting the areas f pssible extensins, including the main gelgical interpretatins and future drilling areas, prvided this infrmatin is nt cmmercially sensitive. Eleven thin sectin samples were cllected and submitted t Vancuver Petrgraphic fr preparatin, mineral identificatin and descriptin. The Petrgraphic reprt identifies the primary mineralgy as quartz, plagiclase (albite), clinpyrxene (spdumene), K-spar and white mica. Variable amunts f alteratin were identified in the pegmatite samples. One sample f the hst rck was submitted and identified as a metadirite. Thirteen samples frm the Phase 1 drilling have been analysed by Semi Quantitative XRD (ME-LR-MIN-MET-MN-DO3) by SGS Mineral Services. Within all thirteen samples, spdumene was identified. Spdumene ranged between 5 and 38.6 wt%. The primary mineralgy f the pegmatite was identified as quartz, albite, spdumene, micrcline and muscvite. Bulk Densities are cllected frm each f the Phase II drill hles (ne hst rck and ne mineralized rck) using analyses cde GPHY04V. Cmpsite samples f re intercepts frm the Phase 1 drilling have been submitted t Nrth Carlina State Minerals Research Lab fr bench scale spdumene cncentrate testing. Results pending. The Phase 2 drilling prgram f 93 hles ttalling 12,262m has been cmpleted. After evaluatin f all f the Phase 2 data Piedmnt may decide t cnduct additinal drilling t define the Cmpany s maiden Mineral Resurce estimate in early