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Mineral and Ore Resources

Mineral resources

Using a 0.50% Li₂O cut-off grade, the JORC 2012 compliant measured and indicated mineral resources of the company amount to 11,767 million tonnes. The Li₂O grade of the mineral resources is 1.10 %. Including the inferred mineral resources category, the mineral resources of the company amount to 14,194 million tonnes.

Mineral Resource estimate (JORC 2012)

Syväjärvi

Rapasaari

Länttä

Outovesi

Emmes

Leviäkangas

Total

Mt

Li₂O%

Mt

Li₂O%

Mt

Li₂O%

Mt

Li₂O%

Mt

Li₂O%

Mt

Li₂O%

Mt

Li₂O%

Measured

1,542

1,33

2,011

1,13

0,422

1,09

3,975

1,20

Indicated

1,167

1,07

4,172

0,97

0,906

1,02

0,281

1,43

1,076

1,22

0,190

1,14

7,792

1,05

Total

2,709

1,22

6,183

1,02

1,328

1,04

0,281

1,43

1,076

1,22

0,190

1,14

11,767

1,10

Inferred

0,118

0,79

2,031

1,00

0,278

0,90

2,427

0,98

Total

2,827

1,20

8,214

1,02

1,328

1,04

0,281

1,43

1,076

1,22

0,468

1,00

14,194

1,08

Syväjärvi and Rapasaari mineral resources have been estimated and reported by Payne Geological Services Pty Ltd. The mineral resource estimates for other deposits (Länttä, Outovesi, Emmes and Leviäkangas) have been prepared by Markku Meriläinen (MAusIMM) and Pekka Loven (MAusIMM).

Mineral resources include ore reserves.

Ore reserves

Mining will be carried out as open pit and underground mining. The company’s combined proven and probable reserves, using a 0.40% Li₂O cut-off grade for open pit ore reserves and a 0,40-0.70% Li₂O cut-off grade for underground ore reserves, amount to 9.372 million tonnes with a grade of 0.98% Li₂O.

Ore Reserves Keliber Oy (JORC 2012)

Syväjärvi

Rapasaari

Länttä

Outovesi

Emmes

Total

Open pit

Mt

Li₂O%

Mt

Li₂O%

Mt

Li₂O%

Mt

Li₂O%

Mt

Li₂O%

Mt

Li₂O%

Proven

1.433

1.18

1.440

1.07

0.168

1.09

3.041

1.12

Probable

0.491

0.97

2.730

0.90

0.096

0.93

0.222

1.06

3.539

0.92

Open pit total

1.924

1.13

4.170

0.96

0.263

1.03

0.222

1.06

6.579

1.01

Underground

Mt

Li₂O%

Mt

Li₂O%

Mt

Li₂O%

Mt

Li₂O%

Mt

Li₂O%

Mt

Li₂O%

Proven

0.340

0.89

0.243

0.83

0.583

0.86

Probable

0.770

0.86

0.583

0.85

0.856

1.01

2.209

0.92

Underground total

1.110

0.87

0.826

0.85

0.856

1.01

2.792

0.90

Ore Reserves total

Mt

Li₂O%

Mt

Li₂O%

Mt

Li₂O%

Mt

Li₂O%

Mt

Li₂O%

Mt

Li₂O%

Proven

1.433

1.18

1.780

1.04

0.411

0.94

3.624

1.08

Probable

0.491

0.97

3.500

0.89

0.679

0.86

0.222

1.06

0.856

1.01

5.748

0.92

Grand total

1.924

1.13

5.280

0.94

1.090

0.89

0.222

1.06

0.856

1.01

9.372

0.98

The ore reserve estimates have been prepared according to the guidelines of the JORC Code 2012 by Pöyry Finland Oy by competent persons under the supervision of Ville-Matti Seppä MSc (Geology), EurGeol acting as the qualified person.

All estimates have been prepared and reported in accordance with the guidelines of the Australasian Code for the Reporting of Mineral Resources and Ore Reserves (JORC Code 2012).

The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (‘the JORC Code’) is a professional code of practice that sets minimum standards for Public Reporting of minerals Exploration Results, Mineral Resources and Ore Reserves. The current edition of the JORC Code was published in 2012. More information at the website: www.jorc.org.