Original report on Sal De Vida

As we move towards an updated DFS for Sal De Vida now in 2016, it is interesting to look at the past
work performed there.

One of the original reports shows in some detail, the sampling performed at Sal De Vida
on behalf of Lithium One back in 2010.

TECHNICAL REPORT ON THE
SAL DE VIDA LITHIUM PROJECT
SALAR DE HOMBRE MUERTO
CATAMARCA, ARGENTINA

http://www.aimva.com.au/LiteratureRetrieve.aspx?ID=185287

Extract :-

"
21. INTERPRETATION AND CONCLUSIONS

The prospect is at an early stage of exploration. It lies in the same hydrogeological basin as the existing
successful FMC Felix lithium extraction project. The results of two surficial pitting programs have been
described and analyzed above and are not repeated here. However, it is possible to conclude that a
significant lithium prospect probably exists and the current information warrants further expenditure to
obtain enough data to move to the next stage; to establish an Inferred Resource.
Sampling to date of the near-surface aquifer(s) on the Sal de Vida Project has yielded 29 (±60%) brine
samples with lithium values greater than 500 mg l-1 and 5 (±10%) samples above 1000 mg l-1,
accompanied by 30 (±63%) samples with potassium values greater than 5000 mg l-1, and 7 (±15%)
above 10,000 mg l-1. Furthermore, the magnesium values are consistently low in the Sal de Vida brines,
averaging approximately 1.68 times the lithium content. At this early stage of investigation, these brines
appear to have many of the important characteristics of a potentially economic brine for lithium and
potash production."

From Galaxy's web-site:

"Galaxy controls 100% of the brine mineral rights over more than 385 square kilometres on the eastern half of the Salar del Hombre Muerto. The western half of the Salar is the site of Argentina’s only commercial scale lithium mining operation owned by Minera del Altiplano, a subsidiary of FMC Corporation. The Fenix operation has been producing lithium since 1997 and according to FMC’s website has a mine life of over 75 years."