Acquisition

On December 14, 2017, Vision Lithium announced the signing of a definitive asset purchase agreement for a 100% undivided interest in the Sirmac Lithium Property from Nemaska Lithium Inc. Vision Lithium issued $250,000 cash payment and 15,000,000 common shares of Vision Lithium to Nemaska Lithium. Vision Lithium also assumed a pre-existing 1% NSR on certain claims comprising the Sirmac Property.

Claims and Location

• Vision Lithium has drilled and channel sampled the #5 Zone as well as discovered the East Zone
• Numerous other large dikes on the property represent other exploration targets and growth potential at Sirmac
• Vision will submit a bulk sample permit application for Sirmac

Excellent Infrastructure

• Lodging, Hydro Nearby, Road Access, Etc.

Geology

The Sirmac property is located in the North-East part of the Superior geological province, in the Frotet-Evans volcano-sedimentary belt. Four types of rocks outcrop on the Sirmac property: quartz-biotite-hornblende schists, amphibolitized flows or mafic sills, syenite pluton, and pegmatites, some of which are spodumene-bearing. The main foliation strikes E-W and has a steep dip. More than twelve granitic pegmatite dikes, whose thickness ranges from 1 to 100 m, have been identified. All of these cut the host schists and generally strike NNW-SSE (315°/350°), with an apparent sub-vertical dip and steep contacts with host rocks.

Mineralization

The type of deposit associated with the lithium mineralization of the Sirmac property is a granitic, rare element-bearing pegmatite due to the presence of spodumene. In dike #5—the known deposit—spodumene crystals are euhedral, with color and size varying from white to greenish- or grayish-white and from 1 to 30 cm in size, with an average size of 10 cm. The amount of spodumene found in the pegmatite ranges from 5 to 30% in volume. In general, the crystals are slightly altered and frequently contain rounded inclusions of quartz. A historical resource estimate was performed on the deposit by Wrightbar Mines Ltd. in 1994, with results indicating a total of 314,328 tonnes grading 2.04% Li2O.

Dike #5

Drill Program (Dike#5)

See Vision Lithium Inc., Press Release (July 19, 2018) for further information on the nature and context of the results.

Dike #5 – Bulk Sample

• Dike #5 is an excellent target for up to a 50,000 tonne bulk sample, application to be submitted asap
• A “mountain of lithium” which would be amenable to bulk sample in a quarry operation
• Bulk sample will provide ample material for testing mining methods and lithium concentrate processing, additional metallurgy and customer evaluation
• Looking to sign multiple off take agreements with end users
• Will significantly de-risk project for future mining at full scale operations

Historical Resource Estimate

In 2012, Nemaska Lithium conducted a successful exploration campaign. In total, 9 sites were mechanically stripped for a surface area of approximately 13,000 m2. There were 29 channels completed over 739 metres for a total of 506 samples (selected results below, for full results see the Nemaska Lithium news release dated November 5, 2012).

Also as part of the same exploration program, Nemaska Lithium completed a diamond drill campaign of 72 shallow drill holes (3,414.5 m). A total of 1,953 samples, including quality control samples (13%), were sent to the lab for assay (selected results below, for full results see the Nemaska Lithium news release dated November 13, 2012).

Drill results from this program reported multiple intersections over 2% Li2O. More specifically, Nemaska Lithium intersected mineralization of up to 2.98% Li2O. This grade approaches the grade found at the Greenbushes deposit, which is the highest grade hard rock lithium deposit in the world.

From this work a mineral resources estimate was produced:

Historical Estimates

The existing Technical Report includes the following historical estimates for the Sirmac Property with 0.50% Li2O Cut-Off Grade:

Notes:

(1) Effective date of December 2013.

(2) The historical estimates were calculated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definitions Standards for mineral resources in accordance with NI 43-101. Mineral resources which are not mineral reserves do not have demonstrated economic viability. Inferred mineral resources are exclusive of the measured and indicated resources.

(3) Bulk density of 2.70 t/m3 is used. Rounded to the nearest thousand.

(4) Ta2O5 mineralization has yet to demonstrate recoverability and potential for economic extraction.

While the Company considers these historical estimates to be relevant to investors, as they may indicate the presence of mineralization, a qualified person has not done sufficient work for Vision Lithium to classify the historical estimates as current “mineral resources” or “mineral reserves” (as defined in NI 43-101) and the Company is not treating these historical estimates as current “mineral resources” or “mineral reserves”.

All block modelling, 3D solid generation and geological interpretation was conducted by SGS Geostat. Modelling and block interpolation was done using Genesis © software. As of December 2013, no other deposit in the Sirmac Property has mineral resources stated or estimated. In order to limit the mineral resources representing “a reasonable prospect of economic extraction”, a Whittle © Pit optimization was completed using the Lerchs-Grossman 3D algorithm. Considering the blocks limited to the optimized pit shell and a cut-off grade of 0.50% Li2O, the Sirmac Property comprises 185kt of measured resources at 1.40% Li2O, 79kt of indicated resources at 1.40% Li2O, and 40kt of inferred resources at 1.10% Li2O (see Table 1 above). These historical estimates of mineral resources do not represent mining reserves since they have not shown economic viability.

The existing Technical Report confirms that all sample assay results were independently monitored through a QA/QC program including the insertion of blind standards, blanks and the reanalysis of duplicate samples at a second umpire laboratory. The results of the QA/QC program and the resampling program indicate that the sample database is of sufficient accuracy and precision to be used for the generation of the historical estimates.

Vision Lithium Makes 99.99% Pure Lithium Carbonate

Diagram of lithium carbonate production

Outcrop samples and drill core samples from the 2012 and 2018 drilling programs on the main #5 dike were sent to the Lakefield laboratory of SGS Canada Inc. for a Preliminary Economic Assessment (PEA) level metallurgical test work program. The samples were combined into one Main Composite, one High Grade Composite, and three variability samples, based on instructions provided by the Company. The metallurgical test work program included sample preparation, mineralogical analysis, grindability, magnetic separation, heavy liquid separation (HLS), dense media separation (DMS), and flotation testing.

High-grade lithium carbonate production methodology

To produce high-grade lithium carbonate, the combined pregnant leach solution (PLS) from the water leach tests (WL-1 to WL-5) was first purified by primary and secondary impurity removal steps. Further purification to >99.5% was performed by ion-exchange (IX) followed by lithium carbonate precipitation. Finally, bicarbonate polishing was conducted to achieve battery-grade purity of >99.9%.

Source: Spodumene Beneficiation And Lithium Extraction From A Sample Taken From The Sirmac Lithium Property, by bylina, M. Gladkovas, J. Brown, *M. Aghamirian and S. Ali SGS canada inc. 185 concession street, lakefield, ON, canada K0L 2H0

Lithium Carbonate Final Grade Specifications