Neo Battery Metals Ltd (NBMFF)

[LGL8054]

Mineral Reserve Reporting Standards: There are currently multiple and conflicting standards worldwide for the reporting of mineral reserves.

Following a major stock fraud in Canada,
Canada then enacted a very restrictive law entitled NI 43-101 that essentially dismisses testing data older than 2 years. Under this standard, the Ore Reserves would be characterized as estimated or historical reserves.

Despite intensive lobbying by Canada, the US government has not adopted 43-101 standards. Under existing US law, embodied in SEC Industry Guide 7, and based on the reporting standards set forth by the US Society of Mining Engineers, the Ore Reserves would be characterized as Proven and Probable Reserves