Progress report

Baikal Nedra Geo LLC received the license UDE 01842 TR for the subsoil area "Kalyumnoye", 41.11 sq.km. for 25 years with the right to prospect, explore and extract minerals, sonnyrite (mineral raw materials for chemical and fertilizer production, code 14309). The license is valid until 02.02.2042. Exploration project has been drawn up and a positive expert opinion has been received.

Baikal Nedra Geo Ltd. successfully conducted the field season, the first mining operations were carried out, construction of a year-round technological access to the site and construction of the Taborny shift camp began.

Baikal Nedra Geo LLC carried out the bulk of mining works (exploration trenches), the bulk of drilling works, topographic and geophysical surveying, and analytical studies.

Baikal Nedra Geo LLC spent its final season completing all planned mining and drilling activities required for successful reserve estimation and Feasibility Study defense. The bulk of analytical studies have been completed.

Baikal Nedra Geo LLC has successfully defended the report with reserves calculation, Feasibility Study of Temporary Conditions, in the State Commission on Reserves (FGBU GKZ RF). More than 2 billion tons of Synnyrite ore were put on the balance sheet.

Baikal Nedra Geo LLC. Rreceived a positive expert opinion on the exploration project at the Kalyumnoye field. The company started to carry out works according to the calendar plan.