June 14, 2016

Research #4Lithium in Utah, USA

The perfect brine project for someone like Albemarle Today, Voltaic Minerals Corp. outlined a first work program for its Green Energy Project in Utah. There is something that sets this lithium brine project apart from most other brine “exploration” projects. Today’s announced short work program is designed to localize precise targets for immediate deep drilling of wells that can be used for potential future production. Look at the recent share price increase of 92 Resources Corp. releasing favourable lithium grades. What do we learn from that? To better get in early, that is to say before such a success is accomplished. This may hold especially true for Voltaic having started a short but important program today. Voltaic is opined to be dirt cheap thanks to most not understanding what they have or do. More than 100 oil wells have been drilled in and around the Green Energy Property. That’s why most think Voltaic is dealing with “oil field brines”, which are considered widely as uneconomic. Others are criticizing that high magnesium grades in brines are a project killer. Time will tell who will be proven right, and that time may come faster than many may think. Voltaic is getting ready for deep drilling of production-style wells. It’s not so much about exploration but more about modelling and engineering. Multi-element metallurgy? Not a problem these days but rather a highly lucrative opportunity, especially for someone like Albemarle with lithium prices trading as high as today. The time to get into Voltaic is opined to be now as the company today started running towards well drilling and resource estimate. Voltaic is refreshingly different. The market will (eventually) understand and honour this. Maybe even today as this report includes quite an enlightning interview.

Company Details

Voltaic Minerals Corp. Suite 1450 - 789 West Pender StreetVancouver, BC, V6C 1H2 Canada Phone: +1 604 681 1568Email: djones@voltaicminerals.comWeb: www.voltaicminerals.com

Shares Issued & Outstanding: 23,434,700

Canadian Symbol: VLTCurrent Price: $0.365 CAD (June 13, 2016)Market Capitalization: $9 million CAD

German Symbol / WKN: 2P61 / A2AG5Q Current Price: €0.26 EUR (June 13, 2016)Market Capitalization: €6 million EUR

Chart Canada (TSX.V)

Chart Germany (Frankfurt)

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oltaic Minerals Corp. (for-merly Prima Diamond Corp.) acquired the Green Energy

property in February 2016 from Foster Wilson’s Mesa Exploration. Historic well drilling in the area around the Green Energy property showed extremely high lithium grades with up to 1,700 mg/L. Some brine wells reached the surface under the natural pressure of the aqui-fer (i.e. without pumps). Such a lithium grade would be 6 times more than one of Albemarle‘s best past wells in the Clayton Valley (~310 mg/L) and 17 times more than Pure Energy‘s average re-source grade (~102 mg/L).

A decrease in lithium grades and resour-ces from Nevada’s Clayton Valley brines is prompting juniors to look elsewhere in North America for exploitable resources of lithium. Moreover, the question arises of how many new lithium mines the state of Nevada would permit as water consumption may become problematic with more than one lithium mine in operation at the Clayton Valley.

Recently, Albemarle Corp., operator of North-America’s only lithium mine (in Nevada’s Clayton Valley), filed a de-tailed protest letter with Nevada’s gov-ernment, basically demanding that no further water right should be issued and that any further pumping in the Clayton Valley would destroy the entire lithium deposit at depth. Albemarle’s Silver Peak Lithium Mine is in uninterrupted pro-duction since the 1960s and as such the lithium grades have diminished from an original >400 mg/L to an estimated 100-200 mg/L today. As such, the deposit may be nearing depletion.

Rockstone opines Utah being a prime candidate to fill the emerging lithium mine supply deficit in the US as Tes-la’s Elon Musk has stated in the past to source lithium “locally”, if available.

Historic drilling in the Green Energy Prop-erty area encountered brines at 1,833 m depth and it was recorded that the ar-tesian brine flow was so strong that drill-ing had to be suspended after penetrating only 2 m of the 9 m thick pay zone. It was stated that the well could flow at a rate in excess of 30,000 barrels of brine per day.

The major advantage of a so-called “flowing artesian well”: No pumping may be required as the brine flows to surface under the natur-al pressure of the aquifer.

Geological strata giving rise to an artesian well. An artesian aquifer is a confined aquifer containing ground-water under positive pressure. This causes the water level in a well to rise to a point where hydro-static equilibrium has been reached. A well drilled into such an aquifer is called an artesian well. If water reaches the ground surface under the natural pressure of the aquifer, the well is called a flowing artesian well. (Source: Wikipedia)

According to Voltaic’s press-release (February 18, 2016):

“The [Green Energy] Property exists over an extensive area with historic fluid an-alysis assays ranging from 81-1,700 mg/l lithium in saturated brines. The brine was discovered in the 1960’s when over pres-surized oil exploration wells encountered blow-outs upon drilling. Approximately 20 wells have been drilled on the Green Energy Property. Of these, 5 have analytic-al data for lithium. Historic exploration of the property was conducted by Fidelity Exploration and Production Co., U.S Borax, King Oil Co. and Amerada Co. since the 1960’s. In March 2011, Mesa Exploration completed a NI 43-101 technical report which reviewed the geology and historic work performed on the property. This re-view concluded that there exists a historic resource estimate of 15 million barrels of brine containing:

• Lithium: 5,750 t (30,535 t Li-Carbonate)Grade: 1,700 mg/L

• Calcium: 157,000 t Grade: 46,700 mg/L

• Magnesium: 147,000 t (576,450 t MgCl2)Grade: 43,600 mg/L

• Potassium: 158,000 t (302,400 t KCl)Grade: 47,000 mg/L

• Sodium: 96,000 t Grade: 28,500 mg/L

Lithium occurs at the project in an oversaturated brine (40% minerals, 60% water) and was discovered during oil exploration when drill wells intercepted Bed #31 of the Paradox Formation. Bed #31 is approximately 6,000 feet deep and consists of 30 feet of shale, anhydrite and dolomite; the bed is not part of any oil reservoir.

Engineering reports from the 1960s con-clude that the brine reservoir is extensive (over 10 square miles) and is recharged from fresh in-flows as indicated by well pressure measurements, drawdown tests and oxygen-deuterium isotopes.”

Research #4 | Voltaic Minerals Corp.

The Potash Brine Ponds from Intrepid Potash Inc. in front of the Cane Creek Anticline in UtahV

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Over the last couple of weeks, Rockstone was in constant contact with Voltaic’s management team, including Foster Wilson from whom Voltaic acquired the Green Energy (“GE”) Property in Febru-ary and who is now a director of the com-pany. Earlier today, Rockstone did a short interview with Foster, copied below.

Mr. Foster Wilson has over 30 years of experience in exploration and develop-ment ranging from reserve drilling and estimation, feasibility studies, mine permitting and development. He has worked in various capacities for Pla-cer Dome, Echo Bay, American Bonan-za Gold and various junior exploration companies and is currently President & CEO of Mesa Exploration Corp. with pot-ash, gold and silver projects in Utah.

Foster, how did you come across the Green Energy Project? What can you tell us about historic work and exploration on the property?

“The Paradox Basin is a world-class pot-ash basin. A few kilometers from the GE Property is the Cane Creek Mine from Intrepid Potash Inc. (current market cap-italization: $111 million USD) which is using solution mining techniques today to mine 2 separate potash beds. They mined the first bed with an underground mine until 1975. It converted into a solu-tion mine as it’s much cheaper. Within the last 5 years or so they have done directional/horizontal drilling to the bed below the bed they are mining. So now they are mining from 2 beds. There is another 7 potash beds, so to speak mul-tiple stacks of potash beds.

In 2008, I applied for potash mining rights in the GE property area and part of my due diligence was reading everything I could find about potash, the Paradox Basin, and the GE property in particular. At the Nevada Mackay School of Mines, I ran into a book written in 1965 by the

Utah Geologic Survey regarding brines in the area. Only 2 guys before me checked out this book from the library, it wasn’t a best seller! I made a copy and later at some remote gold drilling job I finally found time to start digging into this exot-ic “brine book” as it was the last thing I wanted to read. Simply because I wasn’t interested in brine. Brine meant nothing to me. I was a gold, uranium, potash guy, but not a brine guy.

I started reading this brine book and found commentary about “blowouts” reported by oil companies, which were drilling on GE looking for oil (and oil only). The reporting on the blowouts was astounding. They recorded a flow of 1 million gallons per day, that’s a whopping 30,000 barrels. The drilled pipe however was only 3 inches (2.5 cm) in diameter. Imagine the natural force coming out of that little hole. Overpres-surized. What a beauty.

The historic assays of that brine trans-late into extremely high dollar values, vastly more valuable than oil.

Information gleaned from the Utah Div-ision of Oil, Gas & Minerals led to a 30 years old report from a person drilling a well 1 km north of GE. The fellow drilling that well was a retired oil tycoon who wanted to look for potash in that area. So he drilled a well for potash and ran into this brine. Then he drilled a new well specifically for that brine. The re-port then discusses the drilling and brine in detail. He had a Texas oil company re-serve engineer helping him out. They did pressure and temperature readings at the brine zone. They also did oxygen iso-tope analysis of the water. Because they wanted to find out if this water/brine is 200 million years old or just a million years or so.”

Why is that so important?

“If it was 200 million years old water, then it would just be formational water, which was trapped in the formation when it was deposited. If that was the case, it would have been of limited quantity. So if the water was more re-cent, then it would likely be a recharging aquifer (i.e. potentially huge).”

Research #4 | Voltaic Minerals Corp.

The melodious sound of lithium metal shineRinging the door bell of opportunity

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So how old is it?

“It turned out it was more recent water, like a million years old. So their determin-ation was that it’s a recharging aquifer, practically “unlimited” as they noted.”

What happened with the project thereafter?

“The oil tycoon passed away and his widow somewhat continued this brine project until the 1980s, when she also passed away. And then it just got lost.”

Oil field brines tend to have a diffi-cult chemistry and metallurgy, right?

“Interestingly, the GE project has always been tagged as an “oil field brine”, and everyone in the business knew that oil field brines were never found to have large enough volumes of brines, as his-torically seen it was never economic. Certainly, such attitudes change auto-matically with highly elevated market prices as being the case with lithium these past few years. It’s an unique opportunity that others have tagged the GE project (wrongfully) as an oil field brine. The truth and reality is about to get uncovered with Voltaic’s work pro-gram starting as of today.

Yes, there is some lithium in the oil field brine zone beneath GE, but there is also another “brine-only zone”, the zone Vol-taic is targeting. And it’s a couple thousand feet higher than the oil field brine zone.

During the time of drilling hundreds of wells on and around GE, the area be-came known as an oil field brine, so no one really paid attention or even inter-est. The lithium prices were simply not high enough in the past to look at that stuff seriously, which also explains why many of the other wells were not even analyzed for lithium.”

What’s the implication of Voltaic’s targeted brine NOT being an oil field brine?

“The direct implications are volume. The lithium zone that Voltaic is targeting has not much to do with oil. Hence, it’s likely not going to be a little reservoir.”

What about metallurgy and the issue with the high levels of mag-nesium in your brine-only zone?

“Some 5 years ago, I looked more into the metallurgy of that brine and sent my compiled assay data to some metallur-gical specialists. The first one said “your magnesium is high so you will face some problems”. However, 2 other metallur-gists said “yes it’s an issue but not in-surmountable”. Remember, this was 5 years ago when lithium was trading at $2,000/t.

Today lithium is selling for $20,000/t, and companies like POSCO or Teno-va-Bateman have been developing tech-nologies now nearing commercial viabil-ity, including for brines with elevated concentrations of other elements, such as bromine, boron, magnesium, po-tassium, sodium, rare earths, rubidium; elements present at the GE project.

I took the brine assays to an engineer-ing consulting company which produced their own artificial brine with the same chemistry. They concluded that the lith-ium is extractable and they could do it with some sort of resin they called “spi-der web resin”, which selectively extracts the stuff you want when lithium goes by. “

Is there another way to get the magnesium out?

“Of course there is. Even a quite simple method. Just take lime or soda ash and it will take your magnesium out of the brine. Unfortunately, most South-American brine projects don’t have access to those kinds of products, and as such the word “magnesium”, in connection with brines, has manifested itself negatively in the minds of many. Fortunately, that part of Utah, where GE is located, has tons of that material readily and cheaply available.” Thanks a lot for this informative interview, Foster. So if the multi-ele-ment and magnesium issue is “not insurmountable”, especially now-adays with higher prices and new technologies on the forefront, then it’s not really Voltaic’s problem, es-pecially at this stage of the project, as Voltaic just wants to prove some really astonishing values. And once such numbers are out, someone may be interested in taking the pro-ject, or company, to their own next level, respectively when they think the time is strategically ripe, right?

“That’s correct, Stephan, thanks for the interview.”

Research #4 | Voltaic Minerals Corp.

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Bottom-line: The multi-element and magnesium “issue” is not always prob-lematic but can be highly advantageous and lucrative. If lithium prices stay at levels like today, those “issues“ can be solved, when the time is right to do so. Right now it’s time to localize precise targets on GE for the deep drilling of a few wells, which are expected to qualify for the immediate delineation of a NI43-101 resource estimate at PEA level. The wells could later be used for a potential production.

Now where we at?

GE is different. Here, we are not looking for basin lows as you would do at salars like Clayton Valley. It’s a different world for Voltaic. With Nevada-type brines, you want to own a property in the basin low.

Out here in Utah, GE is not about basin lows but about a syncline and an anti-cline. The areas surrounding the GE property lie down at the flank of the syn-cline or even at the bottom of the syn-cline. However in order to get the pres-sures and flow volumes, you want to be on the top of the anticline and not at the bottom of it, i.e. the GE property is per-fectly situated whereas the surrounding areas may turn out problematic.

For example, the area north of the GE property is made up almost complete-ly of steep cliffs. It’s more a helicopter terrain. All past drill holes in this hos-tile area were situated on little ridges perched upon very steep cliffs. Explora-tion will be expensive and difficult, not to speak of production challenges.

Conclusion

There’s a lot of mineral wealth in the area of the GE property. There was an oil and gas company with a project close to the GE property, which had the largest producing oil well on the continental US for like a year long in 2014 or so. They were producing a heck of a lot of oil out here and same success is expected with the brine zone from Voltaic. The dollar values are remarkably high. It’s not just a lithium play, it’s a multi-element project. That’s quite fortunate.

In 2013, Albemarle came out with a little blurp saying that they found a way to get the lithium out of their brine in Arkan-sas, which is rich in bromine and likely other elements like magnesium, sodium

and salt. So Albemarle figured out a way to do it, and their number one prod-uct from this brine is bromine. The GE property also hosts a lot of bromine and boron.

Research #4 | Voltaic Minerals Corp.

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Since quite some time, investors are cheering on salars, like the ones in South-America or in the Clayton Valley, which are basically the end-product of a whole bunch of chemical weathering of a big basin and in their case had rhyolite rocks elevated in lithium.

Lithium is not like iron or copper etc. and as such does not like to turn into an oxide. Lithium doesn’t like to do anything with anybody else but with chlorine. So as it weathers down and out of the rhyolite, it turns into clay, especially hectorite and different kinds of mica minerals. However ultimate-ly, as it keeps weathering, it turns into a liquid chlorine, which in turn gets washed down into those salars where it gets concentrated. The salt that comes with it, gets precipitated and deposited along as salt (same happens with the potash getting deposited along). How-ever the magnesium and the lithium, and others like rare earths, don’t like to deposit, so they just stay in the liquid.

The GE property is within the Paradox Basin. Some 250 million years ago, it was a big basin approximately 160 km long and 130 km wide. This basin represents several phases of oceans forming and thereafter drying up. Underneath GE, there are 18 layers of repeating salt and shale units, and within them are 9 differ-ent potash zones.

So Voltaic is right there where the pro-ductive brine zone is expected, at the contact of a fault which hits the top of the potash and the bottom of the shale unit. The shale is the host unit for this brine, and is about 10-15 feet (3-5 m) thick.

Foster Wilson’s concept is that the GE property intercept represents a fossil-ized salar. Some 200 million years ago, that ocean dried up completely, so the billion dollar question nowadays is: Where did the lithium go? Where did the rare earths go?

It got stuck there. And then the next ocean came along, shale and dolomite was added on top, and it started to dry up again. So you can find repeating lay-ers of salt, potash, shale, etc. over and over again, at least 18 of them.

The Paradox Basin Formation can be up to 3,350 m (11,000 feet) thick consisting of those repeating shale, salt and potash units. The Paradox Basin formation be-neath the GE property is estimated to be 1,200 m (4,000 feet) thick.

Thus, the GE project has great potential for several stacked fossilized salars, that is to say at the top of every one of these potash beds and at the bottom of those shales you will likely find lithium brine concentrations because those lithium products had to go somewhere. They didn’t just evaporate into the sky.

They are still stuck there. Preserved. And that’s what Voltaic is dealing with here. Fortunately. However, the best part of it is that no one really knows (yet) what the next horizon has. The potential of the GE project is really eyewatering to say the least.

So with a property like GE, you just have to make sure that you are close to those faults because it’s them providing the water.

From a mining perspective, you just have to go along those zones, potential-ly for miles. Once that’s mined out, you go down to the next potential zone. Oil companies are successfully using hori-zontal and directional drilling techniques these days. Same could be done with this shale-dolomite host rock, which is about 3 m thick.

However you may not even have to do that horizontal drilling because that for-mation is really porous. In order to get that much volume and pressurized flow-rates as reported in the past, it may not be necessary to go horizontally.

The historically reported blowouts oc-curred up in the anticline area where the GE property is. This doesn’t mean that there is no lithium north of the GE prop-erty but it will be much more difficult to get it to surface, including pumping.

The GE project is quite the opposite of what for example the Clayton Valley is.

What you want to do at Clayton Valley type salars is to get a property situated on top of the deepest part of the basin where a soft-rock/brine situation exists. With projects like GE you don’t want to be in the low spot but at the high of an

Research #4 | Voltaic Minerals Corp.

Directional / horizontal drilling

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anticline (a sequence of domed up rock formations). That’s why this area was drilled up extensively for oil back in the 1950s and 1960s, and even today.

It’s because oil has the tendency to mi-grate up to those anticlinal domes. And that’s what the brine does too.

North of the GE property is situated down in the syncline. Lithium brines be-have a lot like oil and tend to migrate up to the top of the anticlinal dome. That’s why the GE property has been acquired as it is (no other parts near-by are of interest to Voltaic as the property size covers more than the entire dome of the anticline).

With Clayton Valley type deposits, they do gravity surveys to figure out the con-tours of the basin in order to target for wells to be drilled into this formation.

Voltaic is now using a 3D mining soft-ware in order to model the formation tops, structures, etc. The seismic data will help to pinpoint and prioritize drill-ing targets, which will all help to define where to best drill for the sole purpose to calculate a resource/reservoir esti-mate. Furthermore, the localized drill targets should be positioned in an opti-mal way for potential future production.

Lithium investor’s insecurities have been on the rise lately. The Clayton Valley is in trouble because they are having issues with water rights as Clayton Valley is already “overappropriated”. Albemarle filed a detailed protest letter with the Nevada Division of Water Resources, a governmental agency, demanding that no further water rights should be granted in the Clayton Valley as any further pump-ing will destroy the entire aquifer and lithium deposit. It may appear that Albe-marle does not want to allow any com-petition in the Clayton Valley, however for a good reason. Anyone active there may experience strong resistance from Albemarle and the Nevada government.

Albemarle said that they would have to cease operations as the biggest employ-er in Esmeralda County if the aquifer gets destroyed by others active in the same formation.

Albemarle spent $6 billion in early 2015 to acquire Rockwood Holdings, amongst others operator of the Silver Peak Lithium Mine in the Clayton Valley, North-America’s only active brine based lithium operation. Silver Peak has been mining lithium since the 1960s and as such the Clayton Valley lithium deposit is increasingly depleting (average lithium grades have deteriorated from originally >400 mg/L in the 1960s to an estimated 100-200 mg/L today; Pure Energy’s latest resource estimate averages 102 mg/L lithium and is located only a few hundred meters next to Albemarle’s pro-duction wells).

The GE project area has abundant natur-ally flowing water from the ground.

Moreover, the potential for more than just 1 of those lithium horizons beneath GE is extremely high. Repeat: 18 poten-tial layers (the Paradox Basin Formation is the host rock in which 18 cycles of salt, potash and the lithium host unit occur). Beneath GE there are at least 9 potash beds. A potash bed basically represents the very last “dying” phase of an ancient ocean being dried up.

What Voltaic is likely to have under GE are multiple fossilized salars. These an-cient seas had all kinds of minerals dis-solved in their sea water and most of them precipitated out, so the final end-

stage would be your lithium brine just like the modern salar.

Quite uniquely, Voltaic’s salar was en-tombed by the next successful layer of shale, dolomite, and then a new ocean came along, and that repeated at least 9 times for potash and about 18 times for salt.

Voltaic envisions to have multiple tar-gets at all of these fossilized salars. The only thing you really need is water to flush it all out. Luckily, there is an east-west structure that runs through the GE property and that’s exactly what the old geologist from back in the days thought was providing the plumbing system. Any parts north of the GE property misses this east-west structure by large.

Rockstone opines the GE property to be the best undeveloped ground in the US outside of the Clayton Valley, which in turn has a limited potential today and any new projects there will likely face severe resistance from Albemarle, which US-based and NYSE-listed company enjoys a quite powerful market capital-ization exceeding $9 billion USD.

The best part of the GE brines: The min-erals are already in solution (+40% dis-solved solids). That’s a lot further than many other projects would ever get.

Research #4 | Voltaic Minerals Corp.

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he Green Energy Property – which covers 1,684 hectares with close proximity to rail

head, power and paved roads – is locat-ed in the Paradox Basin, in which area where more than 100 oil and gas wells have been drilled in a 80 km wide ra-dius from the property. Oil and gas wells in the area have shown to be capable of flowing in excess of 30,000 barrels of brine per day. Historic wells on the Green Energy Property were reported to be “flowing artesian wells”, i.e. no pumping may be required as the super-satured brines (up to 1,700 mg/L lithium with over 40% dissolved solids close to the property) flow to the surface under the natural pressure of the aquifer. During historic oil and gas exploration, several blowouts occurred when inter-secting brines under pressure within the Paradox Formation.

Readers should not rely on the Green Energy Project’s historic resource of 15 million barrels (>2 billion liters) of brine containing 5,750 t lithium (30,535 t Li2CO3 / lithium carbonate), 157,000 t calcium, 576,450 t magnesium chlor-ide and 96,000 t sodium. Instead, Vol-taic’s mission to create sharholder value is to re-sample the brines, by either re-entering existing shut-in wells on the property and/or to drill new wells, and subsequently to upgrade the historic re-source estimate to NI43-101-compliant standards. This will include metallurgical work, baseline and scoping work and en-gineering studies.

Management and insiders control over 40% of the issued and outstanding shares.

Management & Directors

Dave Hodge (President) Mr. David Hodge, President and Dir-ector of Zimtu Capital Corp. has an ex-tensive background in business that in-cludes over 20 years of experience in the management and financing of public-ly-traded companies. He has been a dir-ector of mineral exploration companies since 1996, and serves on the boards of Commerce Resources Corp. and Equitas Resources Corp.

Foster Wilson (Director)Mr. Wilson has over 30 years of experi-ence in exploration and development ranging from reserve drilling and esti-mation, feasibility studies, mine permit-ting and development. He has worked in various capacities for Placer Dome Inc., Echo Bay Mines Ltd., American Bonanza Gold Corp. and various other junior exploration companies. Also cur-rently serving as President of Mesa Ex-ploration Corp.

Darryl Jones (VP Corp. Development)Mr. Jones has over 15 years of capital market experience and an established financial network. He was an Investment Advisor with PI Financial Corp. Canada and Raymond James Ltd. Canada. Jones was responsible for raising significant risk capital for growth companies in all sectors, with a particular focus on nat-ural resources. He brings a network of contacts within the financial community from across North America and Europe.

Sean Charland (Director)Mr. Sean Charland is a seasoned com-munications professional with experi-ence in raising capital and marketing resource exploration companies. His network of contacts within the financial community extends across North Amer-ica and Europe. Mr. Charland also serves as a Director of Arctic Star Exploration Corp. and Zimtu Capital Corp.

Research #4 | Voltaic Minerals Corp.

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Dušan Berka (P.Eng., Director)Mr. Berka has over 40 years of inter-national business experience spanning Europe and the Americas with extensive experience in the finance, marketing and administration of public companies, hav-ing served as a Director and Officer of various public companies traded on the TSX, TSX Venture and NASDAQ exchan-ges. A graduate engineer with a M.Sc. (Dipl. Ing.) degree from Slovak Technical University, Bratislava, Slovakia (1968), Mr. Berka has been a member of the As-sociation of Professional Engineers and Geoscientists of British Columbia since 1977. Mr. Berka currently also serves as a Director of 92 Resources Corp., Bel-mont Resources Inc. and Megastar De-velopment Corp.

Read Rockstone’s previous reports on the Green Energy Lithium Project:

Research #3: “Prima Diamond becomes Voltaic Minerals with focus on energy metals” (April 14, 2016)

Research #2: “Early Warning Report on Prima Diamond” (March 18, 2016)

Research #1: “Prima Diamond Acquires the Green Energy Project in Utah with Historic Lithium Grades of 1700 mg/L” (February 18, 2016)

Research #4 | Voltaic Minerals Corp.

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About “Voltaic“

Wikipedia on the term “voltaic/battery electricity“:

Alessandro Volta built and described the first electrochemical battery, the voltaic pile, in 1800 (see picture in the middle, where Volta is demonstrating his pile to French emperor Napoleon Bonaparte).

The voltaic pile then enabled a rapid series of discoveries including the electrical decomposition (electrolysis) of water into oxygen and hydrogen by William Nicholson and Anthony Carlisle (1800) and the discovery or isolation of the chemical elements sodium (1807), potassium (1807), calcium (1808), boron (1808), barium (1808), strontium (1808), and magnesium (1808) by Humphry Davy.

The entire 19th century electrical industry was powered by batteries related to Volta‘s (e.g. the Daniell cell and Grove cell) until the advent of the dynamo (the electrical generator) in the 1870s.

Alessandro Giuseppe Antonio Anastasio Volta (18 February 1745 – 5 March 1827) was an Italian physicist, chemist, and a pioneer of electricity and power, who is credited as the inventor of the electrical battery and the discoverer of methane.

He invented the Voltaic pile in 1799 and the results of which he reported in 1800 in a two-part letter to the President of the Royal Society.

With this invention, Volta proved that electricity could be generated chemically and debased the prevalent theory that electricity was generated solely by living beings.

Volta‘s invention sparked a great amount of scientific excitement and led others to conduct similar experiments which eventually led to the development of the field of electrochemistry.

Alessandro Volta also drew admiration from Napoleon Bonaparte for his invention, and was invited to the Institute of France to demonstrate his invention to the members of the Institute. Volta enjoyed a certain amount of closeness with the Emperor throughout his life and he was conferred numerous honours by him.

Alessandro Volta held the chair of experimental physics at the University of Pavia for nearly 40 years and was widely idolised by his students.

Despite his professional success, Volta tended to be a person inclined towards domestic life and this was more apparent in his later years.

The SI unit of electric potential is named in his honour as the volt.

The volt (symbol V) is the derived unit for electric potential, electric potential difference (voltage), and electromotive force.

A voltaic pile, the first battery

Batteries convert chemical energy direc-tly to electrical energy. A battery consists of some number of voltaic cells. Each cell consists of two half-cells connected in series by a conductive electrolyte con-taining anions and cations. One half-cell includes electrolyte and the negative electrode, the electrode to which anions (negatively charged ions) migrate; the other half-cell includes electrolyte and the positive electrode to which cations (positively charged ions) migrate. Redox reactions power the battery. Cations are reduced (electrons are added) at the ca-thode during charging, while anions are oxidized (electrons are removed) at the anode during charging. During dischar-ge, the process is reversed. The elec-trodes do not touch each other, but are electrically connected by the electrolyte. Some cells use different electrolytes for each half-cell. A separator allows ions to flow between half-cells, but prevents mixing of the electrolytes.

Research #4 | Voltaic Minerals Corp.

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Exhibitors:

92 Resources Corp. (TSX.V: NTY; Frankfurt: R9G2)ALX Uranium Corp. (TSX.V: AL; Frankfurt: 6LLN)Arctic Star Exploration Corp. (TSX.V: ADD; Frankfurt: 82A)Aurvista Gold Corp. (TSX.V: AVA; Frankfurt: AVA2)Belmont Resources Inc. (TSX.V: BEA; Frankfurt: L3L1)Canadian Zeolite Corp. (TSX.V: CNZ ; Frankfurt: ZEON)Commerce Resources Corp. (TSX.V: CCE; Frankfurt: D7H)Copper North Mining Corp. (TSX.V: COL; Frankfurt: 79M)Dunnedin Ventures Inc. (TSX.V: DVI; Frankfurt: 5DD)Electra Stone Ltd. (TSX.V: ELT; Frankfurt: 44E1)Equitas Resources Corp. (TSX.V: EQT; Frankfurt: T6UN)Group Ten Metals Inc. (TSX.V: PGE; Frankfurt: 5D31)MGX Minerals Inc. (CSE: XMG; Frankfurt: 1MG)Nevada Clean Magnesium Inc. (TSX.V: NVM; Frankfurt: M1V)Nickel One Resources Inc. (TSX.V: NNN; Frankfurt: 7N1)NRG Metals Inc. (TSX.V: NGZ; Frankfurt: OGPN)Scandium Int. Mining Corp. (TSX.V: SCY; Frankfurt: 0E6)True Leaf Medicine Int. Ltd. (CSE: MJ; Frankfurt: TLA)Umbral Energy Corp. (CSE: UMB; Frankfurt: 2UE)Vatic Ventures Corp. (TSX.V: VCV.H)Voltaic Minerals Corp. (TSX.V: VLT; Frankfurt: 2P61)Zimtu Capital Corp. (TSX.V: ZC; Frankfurt: ZCT1)

Program:

12:00 pm: Exhibitor floor opens

1:00 pm: Welcome from Dave Hodge, President of Zimtu Capital Corp.

1:10 pm: Participant company introductions by Dave Hodge and Sven Olsson

1:30 pm: Joe Martin (Cambridge House International): The difference between exploration and mining, and the importance of Vancouver

1:40 pm: John Kaiser (Kaiser Researcb Online): “Criticality of Supply” and how it effects world prices, demand, and the ability to use that to your advantage in the market place

2:10 pm: BREAK - Networking with refreshments

3:00 pm: Stephan Bogner (Rockstone Research): How European markets impact Canadian markets

3:20 pm: John Hykawy (Stormcrow Capital): Demand & Pricing for lithium, cobalt and other battery materials

3:50 pm: Gerry McCarvill (Aurvista): Hedging the metals mar-kets - How to contain the large down drafts of the last 5 years 4:00 pm: Chris Berry (Disruptive Discoveries Journal): The future of lithium

4:30-6:00 pm: Networking Session with refreshments

12

Disclaimer and Information on Forward Looking Statements:All statements in this report, other than statements of historical fact should be con-sidered forward-looking statements. Much of this report is comprised of statements of projection. Statements in this report that are forward looking include that Voltaic Min-erals Corp. or any other company or market will perform as expected; that Voltaic Min-erals Corp. will start or complete today’s announced work program; that Voltaic Min-erals Corp. or its partner(s) can and will start producing and selling any kinds of products; that the company can raise sufficient funds for exploration and corporate matters; that any of the mentioned plans, comparisons with other companies, regions or numbers are valid or economic. Such statements in-volve known and unknown risks, uncertain-ties and other factors that may cause actual results or events to differ materially from those anticipated in these forward-look-ing statements. Risks and uncertainties re-specting lithium companies are generally disclosed in the annual financial or other filing documents of Voltaic Minerals Corp. and similar companies as filed with the rel-evant securities commissions, and should be reviewed by any reader of this report. In addition, with respect to Voltaic Minerals Corp., a number of risks relate to any state-ment of projection or forward statements, including among other risks: the receipt of all necessary approvals and permits; the ability to conclude a transaction to start or continue exploration; uncertainty of future market regulations, capital expenditures and other costs; financings and additional capital requirements for exploration, development, construction, and operating of a facility; the receipt in a timely fashion of further permit-ting for its legislative, political, social or eco-nomic developments in the jurisdictions in which Voltaic Minerals Corp. carries on busi-ness; operating or technical difficulties in connection with production or development activities; the ability to keep key employees, joint-venture partner(s), and operations financed. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking in-formation. Rockstone and the author of this report do not undertake any obligation to update any statements made in this report.

Disclosure of Interest and Advisory Cautions: Nothing in this report should be construed as a solicitation to buy or sell any securities mentioned. Rockstone, its owners and the author of this report are not registered broker-dealers or financial advisors. Before investing in any securities, you should consult with your financial advisor and a registered broker-dealer. Never make an investment based solely on what you read in an online or printed report, including Rockstone’s report, especially if the investment involves a small, thinly-traded company that isn’t well known. The author of this report is paid by Zimtu Capital Corp., a TSX Venture Exchange listed investment company. Part of the author’s responsibilities at Zimtu is to research and report on companies in which Zimtu has an investment. So while the author of this report is not paid directly by Voltaic Minerals Corp., the author’s employer Zimtu will benefit from appreciation of Voltaic Minerals Corp.’s stock price. In addition, the author owns shares of Voltaic Minerals Corp. and Zimtu Capital Corp. and thus would also benefit from volume and price appreciation of its stocks. In this case, Voltaic Minerals Corp. has one or more common directors with Zimtu Capital Corp. Thus, multiple conflicts of interests exist. Therefore, the information provided herewithin should not be construed as a financial analysis or recommendation but strictly as an advertisement. The author’s views and opinions regarding the companies featured in reports are his own views and are based on information that he has researched independently and has received, which the author assumes to be reliable. Rockstone and the author of this report do not guarantee the accuracy, completeness, or usefulness of any content of this report, nor its fitness for any particular purpose. Voltaic Minerals Corp. has not reviewed this report prior to publication. Lastly, the author does not guarantee that any of the companies mentioned in the reports will perform as expected, and any comparisons made to other companies may not be valid or come into effect. Please read the entire Disclaimer carefully. If you do not agree to all of the Disclaimer, do not access this website or any of its pages including this report in form of a PDF. By using this website and/or report, and whether or not you actually read the Disclaimer, you are deemed to have accepted it. Information provided is educational and general in nature.

Analyst Profile and Contact

Stephan Bogner (Dipl. Kfm. FH)Mining Analyst Rockstone Research 8050 Zurich, Switzerland+41-44-5862323sb@rockstone-research.com

Stephan Bogner studied at the International School of Management (Dortmund, Germany), the European Business School (London)

and the University of Queensland (Brisbane, Australia). Under supervision of Prof. Dr. Hans J. Bocker, Stephan completed his diploma thesis (“Gold In A Macroeconomic Context With Special Consideration Of The Price Formation Process”) in 2002. A year later, he marketed and translated into German Ferdinand Lips‘ bestseller („Gold Wars“). After working in Dubai for 5 years, he now lives in Switzerland and is the CEO of Elementum International AG specialized in duty-free storage of gold and silver bullion in a high-security vaulting facility within the St. Gotthard Mountain Massif in central Switzerland.

Rockstone is a research house specialized in the analysis and valuation of capital markets and publicly listed companies. The focus is set on exploration, development, and production of resource deposits. Through the publication of general geological basic knowledge, the individual research reports receive a background in order for the reader to be inspired to conduct further due diligence. All research from our house is being made accessible to private and institutional investors free of charge, whereas it is always to be construed as non-binding educational research and is addressed solely to a readership that is knowledgeable about the risks, experienced with stock markets, and acting on one’s own responsibility.

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Research #4 | Voltaic Minerals Corp.