Bonnie Claire Lithium property hosts Inferred resource of 11.8 Billion pounds of lithium carbonate equivalent

Potential to be the largest lithium resource globally

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Message: Questions 4

25) Other extraction techniques

Has any other / additional technology company approched Iconic Minerals over the months (or years) to assist in the development of a suitable extraction technique for the Bonnie Claire project and if so, what were the outcome of these discussions?

26) Technical advisors

Has the company recently been approched by any „technical advisor“ / „consultant“ or has the company any specific plans to add some additional expertise in the near future? Is Dr. Ian Hutcheon still part of the advisory board and if so is he the „driving force“ to further look into lithium brines?

27) Royalty Agreement

Do you think that this royalty agreement with St-Georges Eco-Mining could become an issue with regards to any Joint Venture or possible Buyout discussions once the project is further de-risked? „The Parties will establish a royalty stream on the commercial output of the Property for the entire mine life, which will be opposable to any successors of Iconic as a lien on the mining assets. St-Georges and Iconic will negotiate a right of first refusal in favor of Iconic. The royalty, to be negotiated within the guidelines of the “Royalty Formula”, will take the form of a 5% Net Revenue Interest or Net Revenue Return.“

28) Stage 3 Benchmark

As part of the agreement St-Georges has agreed to provide engineering and technical services on all licensed production sites. Stage 3 Benchmark is defined by the reception of a Preliminary Economic Assesement Report (or commercialization decision). Will St-Georges bear all costs involved to complete the PEA for the Bonnie Claire project and therefore can also decide which engineering firm will be contracted or is Iconic Minerals in charge and has to pay for the Preliminary Economic Assesment Report? What is the expected completetion date for this important milestone?

„1,500,000 shares upon Stage 3 Benchmark completion: which is defined by the reception of a Preliminary Economical Assessment Report (PEA) or at commercialization decision or the third (3rd) year anniversary mark of this Agreement assuming other issuance have been completed.“

29) Incorporation of Lithium Brine

In a press release from January 9, 2018 Iconic Minerals stated that „If significant lithium brines are discovered they will be incorporated into St-George’s ongoing lithium recovery testing program.“ However, Frank mentioned in a recent video interview ( released on April 4, 2019 - https://insidexploration.com/st-georges-eco-mining-frank-dumas-and-enrico-di-cesare-talk-extraction-technologies/ approx. minute 18:00) that they won’t handle / touching lithium brines at all. Could you please elaborate on this topic?

30) Conflict of Interest

From you point of view what are the implications that St-Georges Eco-Mining applies this unique and proprietory extraction process not only to alternative sources like lithium in clay/sediment as previously intended but also to conventional hardrock sources like spodumene? „A break through to achieve over 99% at atmospheric pressure and low temperature was achieved reducing capex and simplifying the current assumptions that the industry has for hard rock leaching.“

Thanks,

regards phobieeee

 

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