Lithium Brine Explorer Pantera Minerals confirms World-Class Potential of Smackover Lithium Brine Project

HIGHLIGHTS

• Pantera has contracted SLB to perform a detailed 3D Static Geological Model of the Upper Smackover Formation within the Pantera Area of Interest (AOI) covering all the leased acres driving Pantera into its drilling and resource definition phase.

• The 3D Static Geological Model uses data from 38 wells that penetrate the Upper Smackover Formation, 13.34-line miles of 2D seismic and 481 gravity stations.

• Subsurface model confirms that the Company’s Project has the potential to host a large and world-class lithium brine resource, analogous to neighbouring Arkansas super majors Exxon Mobil and Equinor/Standard Lithium, both with advanced lithium brine projects.

• The 3D Static Geological Model estimates Upper Smackover Formation thickness and porosity over the Pantera AOI as well as the location of faults and the depth to basement.

• The 3D Static Geological Model will be updated to a resource estimation once lithium brine geochemistry and permeability data is obtained from well re-entry in late October.

• Leasing to the north and west of the Pantera acreage position sees new and aggressive push from multiple parties
  Commenting on the 3D Static Geological Model development, Executive Chairman Barnaby Egerton-Warburton said: “the 3D sub surface model provides Pantera with the required data to take the Company from a leasing focus to a development and resource definition focus. The location of the upcoming re-entry well allows for a closed loop pilot plant operation with both supply and disposal well on site utilising the geological model to identify specific production zones in the upper-Smackover formation. Pantera’s land team has also noted the increased leasing competition outside its exclusive abstract area to the west and north further demonstrating the validity of the Smackover as a legitimate lithium brine play”

Forward Focus