Arena Minerals is led by a team with undeniable expertise in lithium processing having successfully advanced and brought several lithium projects to production. Chile became the world’s leading lithium supplier by using a Brine-Mixing Process, which Arena Minerals has adapted to the brines of Argentina. This process results in products much better suited for Battery Grade Lithium Carbonate and carries much lower production costs. It was originally developed and implemented in Chile with members of Arena’s team.
2. Legal
Disclaimers
TSX.V: AN 2
Forward Looking Disclaimer: This document may contain forward-looking information within the
meaning of applicable Canadian securities legislation. Forward-looking information includes, but
is not limited to, statements, projections and estimates relating to the future development of any
of the Company’s properties, the anticipating timing with respect to the private placement
financing, the ability of the Company to complete the private placement financing, the results of
exploration programs, future financial or operating performance of the Company, its subsidiaries
and its projects, the development of and the anticipated timing with respect to the lithium
projects or the Atacama project, and the Company’s ability to obtain financing. Generally,
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 state that certain actions, events or results "may", "could", "would",
"might" or "will be taken", "occur" or "be achieved". The statements made herein are based on
current expectations and assumptions that are subject to risks and uncertainties. Estimates
underlying the results set out in this presentation arise from work conducted by previous owners
of the Antofalla Project and the Company. 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: general business,
economic, competitive, geopolitical and social uncertainties; the actual results of current
exploration activities; other risks of the mining industry and the risks described in the annual
information form of the Company. Although the Company has attempted to identify important
factors that could cause actual results to differ materially from those contained in forward-
looking information, management discussion and analysis section of the Company’s interim and
most recent annual financial statement or other reports and filings with the TSX Venture
Exchange and applicable Canadian securities regulations, 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 statements. Accordingly, readers should not place undue reliance
on forward looking information. Arena Minerals does not undertake to update any forward-
looking information, except in accordance with applicable securities laws.
Currency Presentation: Unless otherwise indicated, all dollar figures are in Canadian dollars
Sources of Information: Data such as commodity prices, growth, volumes and well as information
related to producing assets or comparable projects were obtained from public sources such as
industry publications, technical reports, articles published by experts and press releases
TSX.V: AN 2
3. 3
What Matters
Arena Minerals is led by a team with Undeniable Experience in Lithium processing
which has successfully advanced and brought to production several lithium
projects, most recently with Lithium-X Energy Corp., which was acquired in 2018
for $265M.
The team includes Eduardo Morales, former CEO of Rockwood Litio Ltda (based in
Chile), President of Rockwood Lithium Latin America and COO of Lithium-X, a
World Leader in the Field.
Arena has adapted, to the lithium brines of Argentina, the “Brine Mixing Process”
which was developed and implemented by Eduardo Morales and the team he was
part of, and led to Chile being the world’s lowest cost producer of Lithium
Carbonate over the last few decades
Arena aims to achieve production based on this process, which results in products
much better suited for Battery Grade Lithium Carbonate while carrying
significantly lower costs of production. Arena will also seek to form Joint Ventures
and secure Royalties
Arena benefits from strong local relationships and is building on a strong
Institutional Investor Base, which includes:
4. De-Risking Example of Lithium-X
TSX.V: AN 4
Nov. 30th 2015: Debut
Trading on TSX.V
Feb 16th 2016: Hire Will Randall as
VP Project Development to help
“Finding, analyzing and
conducting due diligence on
assets”
April 21st 2016: Acquires Sal de
los Angeles (“SDLA”) Brine
Project in Argentina
June 29th 2016: Appoints Eduardo
Morales as COO
March 18th 2018:
Closing of Acquisition
23% Premium
420% over 2 years
“The Key to value creation in the lithium brine industry is to demonstrate the entire process,
from resource extraction through to a saleable, high quality end product” - Eduardo Morales
Feb. 21st 2017: LIX achieves 5% Li concentrate on site
demonstrating viability of process; permit for construction of
Initial Ponding Facility of 2,500t/yr of LCE
Dec 18th 2017: Lithium X acquisition by
Chinese consortium led by NextView for
$265M; $2.61/share
5. Key Expertise Reunited
Will Randall, President and CEO
TSX.V: AN 5
Daniel Bruno, Executive Chairman
• Co-founder of Arena Minerals with over
15 years of Capital Markets experience
• Former Partner and Director with GMP
Securities
• Born in Uruguay; fluent in Spanish
Paul Kania, Chief Financial Officer
• Financial Professional providing CFO, controller,
financial reporting and consulting services
• Significant experience in the mining sector
• Certified Public Accountant (CPA)
• HBA, Economics and Philosophy, University of Toronto
Vernon Arsenault, VP Exploration
• Geologist with over 30 years of
experience, more than 15 years in South
America
• Senior Manager at Noranda in Chile,
Peru and Argentina
• Fluent in Spanish
Simon Marcotte, Director Corporate Development
• Over 20 years of Capital Market experience with CIBC World
Markets, Sprott and Cormark Securities
• Corporate experience with Belo Sun Mining, Alderon Iron Ore
and Mason Graphite with a focus on battery materials
• Holds a Business Degree from Sherbrooke University and the
CFA designation
Nicolas Vázquez, Board Member
• 10 years of experience in representing mining
companies in Argentina
• Current a Partner at Vasquez & Meroni
Abogados, a law firm in Argentina
• Graduate from Universidad Católica Argentina
Additionally, the Salta Based Technical Team of Lithium-X is available to Arena and is Being Reassembled
• Founder of Arena Minerals
• Recently VP Project Development for Lithium-X Energy Corp.
advancing the Sal de los Angeles (“SDLA”) lithium brine
project in Argentina.
• Lithium-X was acquired for $265M in 2018 by a consortium
led by Nextview New Energy Lion Honk Kong Limited.
• Identified, acquired and advanced the SDLA Project since
2009 before and after the acquisition by Lithium-X Energy
Corp. in 2016.
• 20 years of experience in project development with a focus
on Lithium in the last 10 years.
• Professional geologist and qualified person (“QP”) with 20
years of extensive exploration experience.
• Mr. Randall was raised in Argentina, educated in Canada and
is fluent in both English and Spanish.
• Mr. Morales is a chemical engineer with nearly 40 years of experience in the lithium
industry, with a focus on project engineering, construction and start-up.
• The world’s first Battery Grade Lithium Carbonate was achieved under his leadership.
• Mr. Morales formerly built and operated one of the world’s largest lithium brine
operations. As President of Rockwood Lithium Latin America, he successfully led the
development, commissioning and operation of Rockwood’s Salar de Atacama project.
His tenure with Rockwood Lithium ended with the company’s sale to Albemarle
Corporation for US$6.2 billion in 2014.
• Mr. Morales was appointed Chief Operating Officer of Lithium-X Energy Corp. in 2016.
Lithium-X was acquired less than 2 years later.
• Mr. Morales previously served as General Manager overseeing construction and
operations of both the ponding facilities at Salar de Atacama and lithium carbonate and
lithium chloride plants in Antofagasta, Chile. He holds a Chemical Engineering degree
from the University of Santiago, Chile.
Eduardo Morales, Board Member and key shareholder.
World Renown Expert in Lithium Brine Processing
6. 6
New energy sources become
more and more competitive,
dislodging traditional energy
sources, and require energy
storage
Lithium-ion batteries are reaching
levels where electric vehicles and
traditional vehicles will have the
same price at the dealership,
setting aside the gas savings
Evolution of current technologies and new lithium-ion battery technologies are
about to experience a tipping point and all require more lithium per battery
Please see the MACRO SECTION for more on these topics
Lithium Demand Accelerating
Multiplied by:
Plus:
“Lithium demand from lithium-ion batteries is forecast to grow
by 26% per year in the years to 2028, increasing from 136.7kt
lithium carbonate equivalent (LCE) to in excess of 1.4Mt LCE”*
*https://roskill.com/market-report/lithium-ion-batteries/
7. The World NEEDS Argentina
7
Arena Minerals will help the lithium
brine Industry in Argentina become a
Global Low Cost Leader
Lithium Triangle: Chile, Argentina and Bolivia
• Chile has been the main producer, but now
faces challenges due to stringent
environmental and legal frameworks; it is now
very difficult to obtain social licenses to
operate or even expand.
• Bolivia has yet to experience any meaningful
influx of capital or international companies.
Process Technology is lagging in order to
address magnesium content
• Argentina has attracted the 3 major lithium
producers and new developers and
experienced a dramatic increase in reserves
over the last decade.
Lithium Triangle
8. TSX.V: AN 8
• Producing facilities in Atacama, Chile have
been mixing using brine based reagents
for many years and has become the
world’s lowest cost producer of Battery
Grade Lithium Carbonate
• The reagent is developed by concentrating
brine from specific areas in Atacama that
possess a unique chemistry
• This process was developed in the 70’s by
a team Eduardo Morales was part of and,
since the early 80’s, Mr. Morales was the
fundamental person deploying this
technology in Chile
• Mr. Morales is a key member of Arena
Minerals’ team and still works today with
the same group of technical personnel
9. A Different Kind of Company
TSX.V: AN 9
Atacama, Chile
Argentina
• This brine replaces conventional lime based reagents
used in processing and is not only better suited for
Battery Grade* but also reduces production costs by
40% to 70%1
• After working for more than two years in Argentina, Mr.
Morales and his team were able to adapt the process used
in Chile to the brines of Argentina. The know-how related to
this process is proprietary to Arena
• A unique brine chemistry is required and not
commonly found in Argentina. The Antofalla Project
carries the adequate chemical composition
• *Lime based processes have been
proven to result in concentrates
challenging to use as a feed for Battery
Grade Lithium Carbonate production
• Arena has several Joint Venture discussions
underway and will look to acquire traditional
assets to deploy the strategy independently
1: This range of Operating Expenditures (“Opex”) savings is based on the best estimates of the management and the technical teams of Arena Minerals and takes into account, over and above the respective PEA of Feasibility published Opex, the specific chemical characteristics of the
brines underlying the various projects being active in Argentina and suitable for this particular processing alternative. Although these estimates have not been verified by an independent firm, the management team as well as the technical team have extensive expertise in the field,
and in this process in particular, which was accumulated over several decades in the region. It is also common knowledge that such a brine-mixing process is being used in the neighbouring country of Chile and results in significantly lower Opex than the projections established here.
10. is a saleable product, reaching prices equivalent to , but requires a lower CAPEX and
OPEX. The equivalent step in the liming process is not currently a saleable product.
Simply Put: Lower Capex & Opex Resulting in a Product
Better Suited for Battery Grade Lithium Carbonate
TSX.V: AN 10
Antofalla-Mixing process
Early treatment of
brine with Antofalla
based reagent
Concentration in
evaporation ponds
to >5% Li
Feed to carbonate
plant (prior B
removal)
Battery grade
product produced
consistently
OPEX
Typical Liming process
Early treatment of
brine with lime
Concentration in
evaporation ponds
to <1% Li
Feed to carbonate
plant (prior B
removal)
Production of
mostly technical
grade lithium
carbonate
Carbonate upgraded
to battery grade via
purification circuit
OPEX
✓ Lower OPEX (40% - 70%1)
✓ Product flexibility
✓ Consistent battery grade
production with fewer
process steps
✓ Lower CAPEX (no
purification circuit)
X
B
X
A
B
A
1: See disclosure on previous slide
11. The Neighborhood
TSX.V: AN 11
The Argentine Puna
region hosts the
world’s third largest
lithium reserves, after
Chile and China
13. Salar de Antofalla
TSX.V: AN 13
Arena owns 100% of 3 claims totaling 4,000* hectares (40 km2)
immediately South of Albemarle’s resource.
50% of the claim area sitting directly on the Salar
* An additional 1,800 hectares (18 km2) in the center of the Salar are currently disputed and could be secured. The matter is currently in court and expected to be resolved by mid 2019
Salar de Antofalla is located 60 km from the municipality of
Antofalla, Argentina at 3,300 meters; the slightly lower
elevation coupled with dry conditions lends itself to higher
evaporation rates
Historical work conducted by Vale (prior to the project being
acquired by Albemarle) suggests a halite dominant Salar
hosting a shallow lithium resource, with average lithium
concentrations of 350 mg/l and effective porosity of 15%.
The Antofalla salar covers approximately 706 square
kilometers, making it one of the largest lithium bearing salars
in the world.
It is the only asset acquired by Albemarle in Argentina.
14. Competitive Advantage
TSX.V: AN 14
Not only is transportation cost a competitive advantage, but Arena
Minerals doesn’t require an overly large resource at this stage; the
value proposition is in the proprietary process
• No other producer is in a position
to deliver such an integrated
solution. Arena benefits from a first
mover advantage, and is evaluating
the availability of patent protection
for its proprietary know-how.
• The brine will be concentrated at
site and transported to other brine
operations in Argentina
• The transportation costs of this
reagent are reduced as typical
reagents (lime) are sourced from
San Juan province, Argentina,
approximately 800km away
• A reduced quantity of Antofalla
brine is required as a reagent
• Antofalla based reagents will also
carry lithium800 km
15. Business Alternatives
Arena expects to secure Royalties by
forming partnerships with other brine
projects in the country, where it would
help adapt the process and also
provide the lithium-rich reagent
Joint Venture discussions underway
Arena Minerals also contemplates the
acquisition of more typical brine assets
and proceed with the entire strategy
on its own 15
What’s Next?
TSX.V: AN 15
16. Argentina Lithium Projects
TSX.V: AN 16
Company Salar Location Stage Market Cap
Millennial Lithium Corp. (TSX.V: ML) Pastos Grande Salta, Argentina PEA C$158M
LSC Lithium Corp.* (TSX.V: LSC) Pozuelos Salta, Argentina Resource C$105M
Lithium America Corp. (TSX: LAC) Coucharí-Olaroz Jujuy, Argentina
Feasibility
Construction
C$372M
Neo Lithium Corp (TSX.V: NLC) Tres quebradas Catamarca, Argentina PEA C$89M
Advantage Lithium Corp. (TSX.V: AAL) Caucharí Jujuy, Argentina PEA C$107M
Galaxy Resources Ltd (ASX: GXY) Sal de Vida Salta, Argentina Feasibility A$815M
Lithium X Energy Corp (Acquired) Sal de los Angeles Salta, Argentina
Acquired at Feasibility stage
(before publication)
C$265M
(Acquired)
Catamarca, Argentina
Exploration &
Resource Definition
$6M
Arena Minerals’ Salar de Antofalla demonstrates a
unique chemistry leading to lower production costs
and major strategic advantages
*: LSC Lithium Corp. is in the process of being acquired by Pluspetrol Resources
Corp B.V. in an all cash transaction announced on January 15th 2019
Antofalla
17. Argentina
17
• Over 10 mines put into production in recent
years. over 500,000 workers employed by the
mining industry
• Holds some of the world’s foremost lithium
deposits in the NW Puna region, where high
altitude arid climates lend themselves to
conventional brine processing
• Argentine brines has been the source of ALL of
the new brine production since the 1990’s
• Influx of large multinational companies,
including the Big Three lithium producers,
Livent (formerly FMC Lithium), SQM* and
Albemarle, which are now developing projects
or operating mines in the country
• President Macri has gone on record supporting
the mining sector with an emphasis on the
lithium sector in particular
• Most members of Arena’s management team
are from Argentina and have an extensive
professional experience in the country
Investments are flowing into Argentina, not only from basic lithium
salts producers, but also from downstream lithium producers
*: SQM sold its participation in Lithium-America to Hong Kong based Ganfeng Lithium
18. TSX.V: AN 18
Typical Brine AcquisitionTechnical Team Re-AssembledSeed Round Financing
Antofalla Acquisition
1st Round of Drilling Pump Tests
Geophysics Work
1st Strategic PartnershipKey Board and Management Additions
Demonstration of Process with Partner
Note: please refer to the Forward Looking Statements on slide 2
Resource Estimate
19. Key Shareholders
• Management, Board and Insiders: 15%
• Institutional and High Net Worth
Shareholders own approximatively
35%, including:
• Fidelity Investments
• One of the world’s largest asset managers
• Hydra Capital Partners
• Seasoned investments-industry professionals offering
funding and capital market services
• Mr. Fahad Al-Tamimi*
• International businessman whose area of expertise involves
infrastructure in energy, mining and transportation
• Ross Beaty and team
• One of Canada’s most successful entrepreneurs with over
40 years of experience in minerals and renewable energy
• Several Lithium-X key shareholders,
including Mr. Paul Matysek:
• a proven company builder having founded, advanced
and sold 5 companies in the past 10 years
Fidelity: https://fidelity.ca/fidca/en/products/gc# TSX.V: AN 19
http://www.fahadaltamimi.com/
*
20. Additional Assets
296 hectares in Salar del Hombre Muerto adjacent to the property currently proposed
to be acquired by POSCO from Galaxy for US$300M. POSCO is expected to consolidate
the surrounding properties once the transaction is completed. Livent (FMC) has been
producing from the Salar for 20 years
TSX.V: AN 20
2-year Option on a property at Pocitos Salar. No maintenance fee and requires only a
US$30,000 payment if Arena whishes to exercise the option at maturity. Therefore it is a
free option on exploration done by others at Pocitos Salar, which has been active for
over 2 years by:
• Projects located near Antofagasta, Chile, and world class operating mines: Lomas Bayas, Mantos Blancos, Spence, Sierra Gorda, Tesoro
and El Peñon
• Agreement earned an 80% interest in the Atacama Copper Property, consisting of 6,910 hectares in world’s foremost copper district
• Arena’s land package has been held by single owner with focus on industrial minerals for over 70 years, with claims dating back to
1876
• 2 Copper porphyry and one Au-Ag epithermal prospects discovered by Arena during early stage prospecting are currently
available for option or joint venture agreements; please see the “Atacama” Corporate Presentation for details
21. Capital Structure
TSX.V: AN 21
Trading Symbols
TSX.V: AN
US OTC: AMRZF
Capital Structure
Shares Outstanding 142,621,090
Warrants (Strike price: $0.10; May 2021) 46,000,000
Options (Average strike price: $0.16) 8,205,000
Fully Diluted 196,826,090
Recent Financings
Non Brokered Private Placement
• Seed Round mainly undertaken by insiders and
key institutions
• September 2018; $0.05/unit
$2.3 M
23. 23
Lithium Facts
According to Microsoft, as
soon as 2023, EV will
reach parity; being the
same price out of the
dealership
The Li-ion Battery Market Growth
is Imminent and will Bring a
Dramatic Shock to the Industry
The EV Revolution was not triggered by Elon Musk
making cool cars. Elon Musk began making cool
cars because he foresaw the cost of the Li-ion
battery falling sufficiently to be competitive.
2018 was an inflection point for a steep drop in
prices almost reaching parity.
24. 24
Lithium Facts
The new technologies expected to
further decrease the cost and
improve performances require
more and more lithium
Those new technologies
are about to experience
a tipping point
Li-ion Advanced Li-ion Solid Sate
An electric car requires SIGNIFICANTLY more
batteries than a mobile phone or any portable
electronics explaining why the growth in adoption
in EV is so much more relevant to lithium demand
25. 25
Lithium Facts
During the First Tour of the Gigafactory, Elon Musk Said: “The World Will Need 100 of those Gigafactories.” Less
Than THREE Years later, 51 Megafactories Have Been Announced and the USA has Yet to Be a Relevant Player
26. TSX.V: AN 26
Lithium Facts
Rise of the lithium-ion battery megafactories – rapid and relentless
2015
2018
Automakers Are
Also Committing Capital
28. 28
Lithium Facts
What makes a REAL difference for
lithium demand is the sales of
“EVs”, i.e. cars you can plug in.
Hybrid widely succeeded but now
EV are taking the lead.
The battery production capacity
represents the ACTUAL demand
and is the strongest testament of
where the industry is heading
2018
29. 29
Lithium Facts
Lithium Carbonate will remain the
largest market, with 56% market
share in 2028
Lithium Hydroxide can be produced
from Lithium Carbonate and it is
cheaper to do so than producing
Lithium Hydroxide directly. Lithium
Carbonate can’t be produced from
Lithium Hydroxide.
56%
and 56% of materials will require lithium carbonate
32. 32
Head Office
120 Adelaide Street West, Suite 1410
Toronto, Ontario, M5H 1T1
TSX.V: AN
OTCQX: AMRZF
www.arenaminerals.com
For information, contact:
Simon Marcotte, CFA, Director Corporate Development
+1-647-801-7273
info@arenaminerals.com