Lithium Assets

Iron Forge

Iron Forge is a private British Columbia mineral exploration company which holds an exploration property comprised of 46 placer leases, covering a total area of 947 acres (383 hectares) located in portions of Sections 11 and 23 of Township 5 North – Range 35 East, Mount Diablo Meridian, Mineral County, west-central Nevada, called the Rhodes Marsh property (the “Rhodes Marsh Property”). The Rhodes Marsh Property is located approximately 65 km by road south of Hawthorne, Nevada and approximately 350 kilometers northwest of Las Vegas, Nevada. Surrounding the Rhodes Marsh Property are the Pilot Mountains to the east and the Excelsior Mountains to the west. Historically the Rhodes Marsh area was a source of salt and boron production in the late 1800s. Iron Forge intends to explore the Rhodes Marsh property searching for a lithium brine resource.

Accelerating Lithium Demand

Lithium is a critical mineral in today’s rapidly growing battery and clean energy technologies. Lithium demand is expected to quadruple this decade, driven by lithium’s growing diversity and effectiveness in high capacity rechargeable battery applications, especially electric vehicles (EVS). Lithium is also used extensively for consumer electronics and renewable resources such as solar panels and wind turbines, which require high-capacity stable electricity storage.

Lithium Macroeconomic Trends

“Excluding U.S. production, worldwide lithium production in 2021 increased by 21% to approximately 100,000 tons from 82,500 tons in 2020 in response to strong demand from the lithium-ion battery market and increased prices of lithium. Global consumption of lithium in 2021 was estimated to be 93,000 tons, a 33% increase from 70,000 tons in 2020.- USGS Mineral Commodity Summaries 2022 – Lithium

Lithium Demand Driven by Electric Vehicles

Global Lithium Supply Shortage

A global lithium supply shortage is expected by 2030. With shortage of critical materials and vulnerable supply chains, production of lithium and lithium batteries could fall short of demand.

Skyrocketing Lithium Prices

Lithium Prices Skyrocketing to All-Time Highs, with Lithium carbonate prices have increased to over US $70,000/t

Domestic
Production

Critical Need for
Domestic Production

Geopolitical Risk: Reliance on Overseas Supply

North America heavily relies on lithium supply from overseas countries, which dominate lithium production and processing, resulting in exposure to geopolitical risk.

Lacking Domestic Lithium Supply

The U.S. is extremely lacking in production of lithium and lithium batteries, and a critical supply gap exists for lithium in North America.

Critical Need for Domestic Production

North America Independence

North America needs a significant increase in lithium production for America’s clean energy future – we urgently need to build up the domestic capacity to source and produce lithium in North America.

Regulators and Manufacturers Driving Change

Biden’s $3B investment into U.S. Battery Supply Chain Feb 2022 (Bipartisan Infrastructure Law), and up to 40X demand for lithium over the coming decades (Made in America Supply Chain for Critical Minerals)