Desert Lion Energy is developing Namibia's first large-scale lithium mine located within a 301km2 land package. The company has a three-phase production plan to produce lithium concentrate from stockpiled material (Phase 1), in situ ore (Phase 2), and eventually lithium carbonate (Phase 3). Desert Lion has an experienced management team with significant lithium and mining experience. Key milestones include commencing lithium concentrate production in December 2017 and delivering the first shipment to an offtake partner in April 2018.

1. INVESTOR PRESENTATION
December 2017
Private and Confidential
Building Namibia’s First Large-Scale Lithium Mine
Building Namibia’s
First Large-Scale
Lithium Mine
Investor Presentation
August 2018

2. Forward-Looking Information
2
This 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 and expectations regarding the initial targeted resource tonnage and grade
for the Desert Lion lithium project in Namibia (the “Project”); timing and structure for the proposed going public transaction of Desert Lion Energy Corp. (the
“Company” or “Desert Lion”); the Company’s applications for additional licenses; 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; and the
Company’s anticipated budget.
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, assumptions 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,
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 lack of historical operations; the estimation of labour and operating costs; general global markets
and economic conditions; risks associated with exploration, development and operations of mineral deposits; the estimation of initial targeted mineral
resource tonnage and grade for the Project; 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; risks associated with changes in the mining regulatory regime governing the Company and the Project; 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 issuance of additional common shares of the
Company; the risk of litigation. Although 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 forward-looking 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. Forward-looking information is made as
of the date of this presentation and the Company does not undertake to update or revise any forward-looking information that is included herein, except in
accordance with applicable securities laws.
Please consult the Company's website at www.desertlionenergy.com for disclaimers on: third party information, confidentiality, cautionary note regarding
historical technical data, cautionary note regarding potential quantity and grade for targets, quality control and assurance, statutory rights of action and resale
restrictions. Also, please consult the Company's website for information on risk factors related to: the offering of securities generally and the Company's
business.
TSX-V: DLI

3. Desert Lion Energy – Who We Are
3
Building Namibia’s first large-scale lithium mine
1
2 Li
Legend
Project
Airport
Port
Highway
Railway
Li
Mine and concentrator: located 30-km south-
east of Karabib, Erongo
Conversion plant: located in Walvis Bay. Will
transform concentrate to lithium carbonate for
export
1
2
Desert Lion Energy is a lithium developer and producer of lithium concentrate
focused on building Namibia’s first large-scale lithium mine. The company’s lithium project is
located within a 301km2 land package, and is currently in Phase 1 production, processing
stockpiled material and exporting lithium concentrate. The project site is accessible year round
by road and has access to power, water, rail and port infrastructure.
TSX-V: DLI
Windhoek
Walvis Bay

4. Proximity to Existing Infrastructure
4
Helikon Mine
Exclusive
Prospecting
License (EPL)
301 km2
Rubicon Mine
Access to water, power, road and rail
TSX-V: DLI
220KM to
port in
Walvis Bay
Production water
borehole
New EPL
553km2
Existing Power Grid
DLI powerline connection
(under construction)
NamWater
pipeline
Mine access
road
Karabib National highway
Rail load out facility

5. Executive Team
5
Significant lithium project, geology and capital market experience
Tim Johnston
President & CEO
Johan Coetzee
Chief Operating Officer
Rowan Jackson
Chief Technical Officer
Thomas Mushimba
Namibian Management
Mike Venter
VP Exploration
10+ years of experience
Former Senior Lithium
Consultant, Hatch
20+ year of Namibian
operational mining
experience
7+ years of experience
Former Process Design
Engineer and
Consultant, Hatch
20+ years of experience
Namibian expertise and
relationships
24 years of exploration
and project evaluation
experience
▪ 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
▪ Executed operational
growth plans, plant
expansion, stake-
holder mgmt and
permitting for large
scale operations in
Namibia
▪ Held senior roles with
Navachab Gold Mine,
Rössing Uranium
Mine, Ghana Manga-
nese Company
▪ Past President of the
Namibian Chamber of
Mines
▪ Worked at Hatch as a
consultant and
process design
engineer in numerous
metals industries,
including lithium,
nickel, copper,
ferroalloys and gold
▪ Technical experience
spans process design,
commissioning, plant
optimization and
techno-economic
analysis
▪ Oversees logistics
and manages
Namibian
government and
social relations
▪ Depth of logistics
expertise gained
within Namibia
through clearing and
forwarding roles at
Kuehne & Nagel
▪ Has significant work
experience in critical
metal LCT type
pegmatites
▪ Worked extensively
on projects in Sub
Saharan Africa and
Brazil
▪ Provided advisory
and consulting
services to identifying
and evaluation of
LCT pegmatite
projectsTSX-V: DLI

6. Three-Phase Production Plan
6
Strategy focused on de-risking production and generating cash flow
Phase 1
•Lithium concentrate
production from stockpiled
material
•Produce 150kt - 160kt of
lithium concentrate; expect
to generate US$15-20MM
in EBITDA
December 2017
Phase 2
•Lithium concentrate
production from in situ ore
•Produce 220kt-250kt of
lithium concentrate
December 2019
Phase 3
•Lithium carbonate
production
•Produce 20,000t of lithium
carbonate (LCE)
December 2020
Reduce need
for external
financing,
lower cost of
future
debt/equity
Project Highlights
▪ Company holds 80% of the
Desert Lion Lithium Project,
which includes three past producing
lithium mines
▪ Substantial historical resource
data from mining activities between
1930 and 1994.
▪ Maiden mineral resource target of
5-7 Mt @0.7%-1.0% Li2O(1)
— Long-term resource target of
10-15 Mt @0.7-1.0% Li2O(1) – by
end Q4 2018
▪ Near-term production from
stockpiles.
— Signed off-take agreement
with Chinese lepidolite
converter; first shipment
delivered April 2018
(1) Refer to “Cautionary Note Regarding Historical Technical Data” and “Cautionary Note Regarding Quantity and Grade for Targets”.
TSX-V: DLI

7. Corporate and Operational Review
7
2017-2018 Milestones
Acquired Namibian
lithium project
January 2017
Completed
Phases 1 & 2
exploration drilling
(19,000 m);
Phase 3 underway
January 2018
Signed off-take
agreement for
Phase 1 production
November 2017
Listed on the TSX
Venture Exchange
February 2018
Signed definitive
agreement to expand
land package from
301km2 to 1,054km2
March 2018
Announced delivery
of first concentrate
shipment to
Chinese offtake
partners
April 2018
2017 2018
Commenced lithium
concentrate
production
December 2017
Received
environmental
clearance certificate
for Phase 1 and
Phase 2 production
August 2017
TSX-V: DLI

8. 8
Newly installed water storage facility Phase 1 sorting operation
On-site independent labProduct stockpiles

9. Lepidolite Processing
9
Straightforward process with high recoveries
By the Numbers
Preliminary tests indicate:
96%Recovery through leach
✓ High lithium recovery achieved with preliminary floatation
testwork
▪ Preliminary testwork achieved up to 97%(1) lithium recovery through
froth floatation
✓ High lithium recovery achieved with preliminary leaching testwork
▪ Preliminary testwork achieved 96%(1) lithium recovery through to
leach (Typical spodumene recovery is 90-92%)
✓ Mineralogy is well suited for upgrading using beneficiation
▪ Very coarse crystal structure with few inclusions allowing for simple
upgrading
✓ Straightforward concentrate processing method
▪ Crush → sort → mill → spirals → float
(1)
(1) Refer to “Cautionary Note Regarding Historical Technical Data” and “Cautionary Note Regarding Quantity and Grade for Targets”.
50%
Of the worlds’ lithium
carbonate production is
from hard rock resources
10%
Of the worlds’ lithium
carbonate production is
from lepidolite
TSX-V: DLI
Over 6,000 hours
of engineering
work completed

10. Off-take Agreement Signed with Chinese Lithium Converter
10
Offtake Agreement Highlights:
• Signed off-take agreement with Chinese lepidolite converter Jiangxi Jinhui Lithium Co.
Limited for sale of Phase 1 lithium concentrate
• Producing approx. 150,000t - 160,000t of concentrate for sale in 12 to 18 month period;
received US$4.5MM prepayment in Q4 2017 for Phase 1 production
• Delivered first 30,000t shipment of lithium concentrate to Walvis Bay port on April 24, 2018
• Jinhui has option to acquire 15% of the common shares of Desert Lion Energy for C$13MM
Desert Lion Energy / Jinhui Walvis Bay Port Tour
• Parent company is Nanshi
• Existing capacity of 20,000t of LCE, building an
additional 40,000t of LCE by H2 2018
− Total investment to date of RMB 2.0B
• Feedstock obtained from Desert Lion Energy, Mine
414 (China) and other small local mines (China)
• Customers (cathode material producers) include:
Hunan Shan Shan (a binding off take), Ningbo Jinhe
(they have an MOU in place, but no formal deal),
Henan Kelong and Xinxiang Tianli
Our Partner – Jiangxi Jinhui Lithium Co. Limited
TSX-V: DLI

11. 11
Ship transporting first shipment
of lithium concentrate
Loading of first shipment of lithium
concentrate at Walvis Bay
First shipment ceremony with government officials at Walvis Bay
Media tour and Q&A
TSX-V: DLI

12. 12
Product bagging
Final lithium carbonate product
Lithium carbonate processing plant
Lithium carbonate processing buildings
TSX-V: DLI

13. Highly Prospective Geology Near Past-Producing Mines
13
Expanding land package to acquire two contiguous EPLs
▪ Pegmatites belong to
the Karibib Pegmatite
Field, associated with
the Pan African Age
(500Ma) granites that
intrude Damaran rocks
of central Namibia
▪ Pegmatites belong to
the Li-Cs-Ta (“LCT”)
group of pegmatites that
are hosted proximal to
and within source
granites
▪ Lithium bearing minerals
comprising lepidolite,
petalite and rare
amblygonite, with
tantalite and pollucite
potential
▪ High resolution magnetic
and radiometric survey
completed Q4 2017
▪ Structural study under-
way to detail source –
transport – trap for follow
up validation in 2018
TSX-V: DLI

14. 14
Highlights from Phase 1 and Phase 2 drilling
Rubicon and Helikon Mines
Rubicon
▪ Phase 1 and 2 drilling completed and confirms
downdip and strike extents of mineralization.
— ~ 8,200m of DD and RC
— ~ 2,700m RC Stockpile Drilling
— Extensive channel, trench and pitting
sampling
— Ground magnetic survey
— Mineralogical studies (XRD)
▪ Phases 1 and 2 drilling highlights:
— 9.00m of 2.25% Li2O
— 5.30m of 1.30% Li2O
— 5.23m of 1.15% Li2O
— 1.96m of 2.60% Li2O
— 3.95m of 1.17% Li2O
— 2.00m of 1.59% Li2O
Helikon
▪ Helikon 2-5 cumulative strike length of 1,500m
▪ Contain lepidolite, petalite and tantalite
mineralization – all have been previously
mined
▪ Phases 1 and 2 completed over Helikon 1 – 5,
with scout drilling completed over Helikon 6
and 7:
— 6,750m DD and RC Drilling
— 1,203m RC Dump Drilling
— Channel and trench sampling
— Ground magnetic survey over Helikon 1
▪ Phases 1 and 2 drilling highlights:
— 2.76m of 2.66% Li2O
— 6.07m of 2.30% Li2O
— 5.25m of 1.79% Li2O
— 7.78m of 1.03% Li2O
— 15.10m of 652ppm Ta2O5
TSX-V: DLI

15. 15
Q4
2017
✓ Commenced stockpile operation
✓ Closed RTO financing
Q1/Q2
2018
✓ Closed the Helikon Project acquisition
✓ Listed on TSX Venture Exchange under the
ticker “DLI”
✓ Begin export of Phase 1 lithium concentrate
Q3
2018
❑ Receive Phase 2 mining license
❑ Publish maiden mineral resource estimate
❑ Publish preliminary economic assessment
Share Structure and Upcoming Catalysts
TSXV: DLI MM
Share price as at July 18, 2018 $0.77
Shares outstanding (basic) 47.2
Options (Exercise price: $0.20 - $1.82) 4.4
Warrants (Exercise price: $0.05 - $2.28) 8.7
Shares outstanding (fully diluted) 60.3
Market capitalization C$36.4
Cash on hand <C$1.0
Debt Nil
Basic Ownership %
Management and directors 15.0%
Institutional/high net worth investors 85.0%
Total 100%
Share Structure
▪ Approximately C$24MM in capital raised in 2017
▪ Last private placement completed at C$1.82 per unit
in December 2017
TSX-V: DLI
Q4
2018
❑ Complete Phase 1 floatation plant

16. 16
Thank You
Investor Relations
Salisha Ilyas
VP, Investor Relations
Tel: (416) 309-2953
Email: silyas@desertlionenergy.com