The first large-scale Lithium mine in NamibiaFebruary 2017

Caution Regarding

Forward – Looking StatementsThis presentation contains “forward-looking information” within the meaning of applicable securities laws. Generally, any statements that are not historical facts may contain forward-looking information, and forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or indicates that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, “occur” or “be achieved”. Forward-looking information includes, but is not limited to: statements regarding the details regarding the proposed acquisition by Desert Lion Energy Inc. (the “Company” or “DLE”) of HUNI-/URIB Investments (Pty) Ltd. and the Rubikon lithium project in Namibia (the “Project”) and the expectation that the Company will consummate such acquisition generally upon the terms and in accordance with the timeline as currently contemplated; expectations regarding the initial targeted resource tonnage and grade for the Project; timing and structure for the Company’s proposed going public transaction; the Company’s planned work program for the Project and its exploration and development schedule and timetable; the rate at which electric vehicle penetration will increase and the resultant effect on global lithium demand.

Forward-looking information is based on certain factors and assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, lithium and other metal prices, the estimation of initial and sustaining capital requirements, the estimation of labour and production costs, the estimation of mineral reserves and resources, the assumption with respect to currency fluctuations, the timing and amount of future exploration and development expenditures, receipt of required regulatory approvals, the availability of necessary financing for the Project, the completion of the proposed acquisition of HUNI and the Project, permitting and such other assumptions and factors as set out herein. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks related to changes in lithium prices; sources and cost of power and water for the Project; the estimation of initial capital requirements; the estimation of labour and operating costs; the general global markets and economic conditions; the risk associated with exploration, development and operations of mineral deposits; the estimation of mineral resource tonnage and grade; the risks associated with uninsurable risks arising during the course of exploration, development and production; risks associated with currency fluctuations; environmental risks; competition faced in securing experienced personnel; access to adequate infrastructure to support exploration activities; the risks associated with changes in the mining regulatory regime governing the Company; completion of the environmental assessment process; risks related to regulatory and permitting delays; risks related to potential conflicts of interest; the reliance on key personnel; financing, capitalization and liquidity risks including the risk that the financing necessary to fund continued exploration and development activities at the Project may not be available on satisfactory terms, or at all; the risk of potential dilution through the issue of additional common shares; the risk of litigation.

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Caution Regarding

Forward – Looking StatementsAlthough the Company has attempted to identify important factors that could cause actual results to differ materially from the forward-looking information set out in this presentation, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update or revise any forward-looking information that is included herein, except in accordance with applicable securities laws.

THIRD PARTY INFORMATION

This presentation includes market, industry and economic data which was obtained from various publicly available sources and other sources believed by Imperus to be true. Although DLE believes it to be reliable, DLE has not independently verified any of the data from third party sources referred to in this presentation, or analyzed or verified the underlying reports relied upon or referred to by such sources, or ascertained the underlying economic and other assumptions relied upon by such sources. DLE believes that its market, industry and economic data is accurate and that its estimates and assumptions are reasonable, but there can be no assurance as to the accuracy or completeness thereof. The accuracy and completeness of the market, industry and economic data used throughout this presentation are not guaranteed and DLE does not make any representation as to the accuracy of such information.

CAUTIONARY NOTE REGARDING HISTORICAL TECHNICAL DATA

The reader is cautioned that the above noted technical data is considered historical in nature as it is based on prior data and reports prepared by previous owners of the property. The Company was not able to verify the quality assurance and quality control processes and methods used in compiling this historical technical data. While there can be no certainty that the historical technical data is accurate, the Company believes that the historical technical data is relevant to the overall potential of the Project as it may indicate the presence of lithium mineralization. As sufficient work to complete the classification of the mineralization on the property as current mineral resources or mineral reserves has not been completed, the Company is not treating the historical technical data as current and does not have a current mineral resource or mineral reserve in respect of the Project. This technical data cannot, therefore, be treated as NI 43-101 compliant and should not be relied upon.

CAUTIONARY NOTE REGARDING RESOURCE ESTIMATES

The potential quantity and grade of the Project outlined above is conceptual in nature, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource. Estimates provided are based on the initial prospecting works carried out by Benzu Minerals, three targets areas have been delineated which could deliver sizeable, high grade (2.5% Li2O) resources through further systematic exploration.

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Lithium demand, 2013-2025 tonnes lithium carbonate equivalent/LCE

4SOURCE: Deutsche Bank – Lithium Report

Substantial Market Opportunity: Lithium

2/8/2017BACKGROUND IMAGE: Past-producing Rubicon mine site, with clear pegmatite outcrops.

High estimated avg. lithium grades of +2.5% Li2O (1)

Substantial historical resource intelligence from mining activities between 1930 and 1994

Close proximity to existing infrastructure in Karabib, Walvis Bay and Windhoek

Rubicon: hard-rock lithium asset with world-class lithium grades

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The Dawn of the Lithium Era in Africa…

(1) Refer to Forward Looking Statement – Cautionary Note Regarding Historical Technical Data and Cautionary Note Regarding Resource Estimates

Project Location

Airport

Highway

Railway

Legend

Port

Desert Lion Energy will operate two sites:

1. Mine and concentrator: located 30-km south-east of Karabib, Erongo

2. Conversion plant: located in Walvis Bay. Will transform concentrate to lithium carbonate for export

Conversion Plant

Li

Li

2

Mine and Concentrator1

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Rubicon Lithium Project Scope

8 historic lithium mineral claims covering 1.5 km2

Within 301 km2 with known lithium bearing pegmatitic mineralization

RUBICON

Potential Pegmatites to Field

Check

Zoned Pegmatites with Lepidolite

Potential Pegmatites to Field

Check

Zoned Pegmatites with Lepidolite

Zoned Pegmatites with Li-Ta Bearing

Potential

LegendRubicon ClaimsPegmatite OutcropsPast-Producing MinesExclusive Prospecting LicenseKey Target Zones, Known Lithium OccurrencesSecondary Targets, Known Lithium Occurrences (Future)

Potential to expand land package by >350 km2 with additional pending EPL applications 7

Rubicon Land Package

Site Layout and Existing Infrastructure

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Mineral Claims Map

2 existing pits (former mining sites), adits and 1 shaft. Operational, well-maintained camp

Initial Resource Target of 10 MT @ 2.5% Li2O(1).

Substantial historical resource intelligence

(1) Refer to Forward Looking Statement – Cautionary Note Regarding Historical Technical Data and Cautionary Note Regarding Resource Estimates9

Geology and Current Targets

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Rubicon Lithium Project Geology• Cambrian Karibib Pegmatite Field with

pegmatite intrusions hosted in Damaran System

• Considered one of the most extensive pegmatite fields in the world (Baldwin, 1989)

• Pegmatites belong to a group of internally well-zoned Li-Cs-Be-Rb pegmatites

• Historic mining of two ellipsoidal ore bodies‒ 1st body is 320m long and 25-35m wide and dips

45°to the NE, but flattens to 18°-25°at depth‒ 2nd ore body dips 30°to the NE and flattens to 8°-

12°at a depth of 20m

• Structurally, the lithium bearing pegmatite is an antiform, with several recurring folds (significant volume potential) within exploration area

• Lithium mineralization consists in lepidolite, petalite and amblygonite

Pegmatite and Lepidolite

Massive Lepidolite Mineralization

Whabouchi - Nemaska

Pilgangoora - Altura

RB Energy - Quebec Lithium

Pilgangoora - Pilbara Minerals

James Bay -Galaxy

Mt Marion -Neometals

Rose - Critical Elements

Jadar - Rio Tinto

Kings Valley - LAC

GreenbushesInitial Target

Future Exploration Target

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%

0 20 40 60 80 100 120 140

Ore

Gra

de (L

i 2O)

Resource Size (Mt)

(1)

(1)

Considered best in class

(1) Refer to Forward Looking Statement – Cautionary Note Regarding Historical Technical Data and Cautionary Note Regarding Resource Estimates

Reserve and Resource Comparison for Global Lithium Projects (Size of Bubble = Contained LCE)

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Rubicon Project is a World Class Target

Cesare Morelli – Vice President, Exploration

Tim Johnston – President & CEO10+ years of experienceFormer Senior Lithium Consultant, Hatch

29+ years of experienceFormer Exploration Manager across Africa, De Beers

Evaluated hundreds of lithium projects globally Managed lithium projects for Rio Tinto, Bacanora, AMG-NV, and many others Co-authored 7 technical publications in the lithium sector

Currently Technical Director of Rainbow Rare Earths Ltd. & Benzu Minerals Managed exploration projects across Africa with De Beers Previously Exploration Manager for Africa with BHP Billiton

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Rob Chalmers – Head of Corporate Development & Capital Markets18+ years of experienceIn-depth Investment Banking experience with Sprott Securities, Canaccord Capital Over 18 years experience advising companies on capital raising and M&A Investment banking experience with Sprott Securities, Canaccord Capital, and

Macquarie Capital Markets

Proven Management Team

Execution PlanningPhase 1 - PEA Phase 2 – Feasibility Phase 3 - Execution

2017 2018 2019 2020

Activities Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

Phase 1

Indicated and Measured Resource Definition

Environmental

Baseline Environmental Studies

EIA and Environmental Approvals

Feasibility Study

Beneficiation

Conversion Plant

Execution

EPCM – Beneficiation

First Concentrate

EPCM - Conversion Plant

First Lithium Carbonate/ Hydroxide

Planned IPO/ RTO13

Development Schedule

Phase 1 Activities:

Inferred Resource Definition

Market studies

Metallurgical Testwork Program

Environmental Permitting Analysis

Social and Community Engagement

Preliminary Economic Analysis

Key Deliverables Geological and

structural mapping of packages within the EPL, and delineation of inferred resource.

Preliminary economic analysis report

14BACKGROUND IMAGE: Panoramic view of the Rubicon Project site.

Current Status – Phase 1

BACKGROUND IMAGE: View towards the North of the Rubicon site. 15

Summary – Desert Lion Energy

Seeking partners to collaborate with in the development of the world class Rubicon Lithium Project

Desert Lion Energy is focused on providing a long term sustainable solution for low-cost supply of quality lithium chemicals1

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3 Planning IPO/RTO and next capital raise for Q2 2017

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Rob ChalmersHead of Corporate Development and Capital Markets

rchalmers@desertlionenergy.com

Contact Details

BACKGROUND IMAGE: Area within the historic mining claims.

Appendices

BACKGROUND IMAGE: Area within the historic mining claims. 17

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Category Salt Lake Brines Hard Rock Deposits

Number of Processing Steps ~10 ~12

Number of Reagents ~7 ~7

Chemistry Cl SO4

Li Recovery 30-40% 70-80%

General Infrastructure Requirements High Low

Development Timeline 5+ years 3-4 years

Weather Dependent Yes No

Capital Intensity $13,000-16,000/ a. tonne LCE $8,000-10,000/ a. tonne LCE

Operating Costs $3,500-$4,500/ tonne LC $3,800-$5,000/ tonne LC

Hard Rock vs. Brine: Direct Comparison

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* Lepidolite exists in many forms including K2(LiAl)5-6Si6-7Al1-2O20(F,OH)4 and K2Li2Al4Si7O21(F,OH)3

Parameter Units Spodumene Lepidolite

Chemical Formula - LiAlSi2O6 KLiAl2Si3O10(F,OH)3 *

Theoretical max Li content %Li 3.8% 1.7-4.6%

Concentrate target % Li2O 5-7% 5-7%

Calcination temperature - ~1150oC ~800oC

Processing methodology - Concentrate + acid

roast leach

Concentrate + acid roast leach or sulphate

roast

Processing Lepidolite vs. Spodumene

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• The Desert Lion Lithium Project and the applicable mining claims were mined intermittently between 1930 and 1994

• Past production of approximately 17,000 tonnes of lithium mineral concentrate via small scale open pit and underground mining methods for ceramics and glass industry

• Reported head grades varied between 1.70% and 3.75% Li2O(1)

• Most recently held by LiCore Mining (Pty) Ltd., who completed rock sampling, mapping, and ground geophysics

(1) Refer to Forward Looking Statement – Cautionary Note Regarding Historical Technical Data

~1930: KloechnerGerman mining company mined

lithium and talc

1968: Anglo American

1998: Awemde Holdings

Mining (5-10ktpa) from 1970 to 1998

Namibia Lithium Mining

Mining and minimal underground drilling

Black Fire MineralsRock sampling and 12

diamond drill holes

Property History