Announcement • Sep 09

Boron One Holdings Inc. Subsidiary Balkan Gold D.O.O. Commences Implementation Of Jarandol Basin Exploration Program

Boron One Holdings Inc. reported that its wholly owned operating subsidiary, Balkan Gold d.o.o., has commenced the implementation of this season’s field exploration works on its Jarandol Basin license area in Serbia. The Jarandol Basin License, a 21 km2 area, is directly adjacent to the Company’s Piskanja borate deposit. This season’s exploration at Jarandol is planned to include: Geological mapping at a scale of 1:2,500, 75 soil samples, 3 trenches, with 33 trench samples, 4 drill holes (totaling approx. 1,400 m), 120 core samples, 65 petro samples. The purpose of this season’s field work is to test high value drill targets within the basin for potential boron content, which were identified as a result of previous field works. Previous exploration by Balkan Gold has shown that the Jarandol Basin has the potential to host extensions to the Company’s Piskanja boron deposit and/or to the Pobrdje boron mine (located 2.5 km away on the other extremity of the basin), as both of these deposits remain unbounded towards the center of the Basin. In addition, the Basin holds the potential to host additional, unrelated boron deposits. The Jarandol Exploration License (received in April of 2024 and valid for 3 years) covers 21.03 km2, and is extendable up to a total of 8 years, subject to Serbian mining regulations. The Jarandol Basin License contains all the land within the basin which is prospective for boron, including the territory directly adjacent to, and in between, the Company’s 100% owned Piskanja Boron Project on the eastern edge of the basin, and the government owned Pobrdje Boron Mine, located 2.5 km away from Piskanja on the opposite edge of the basin. The Jarandol Basin is a well-known, historical mining district in southern Serbia which hosts two known boron deposits, and an operating coal mine. The Basin contains excellent infrastructure for mining (having hosted mining operations continuously for more than 100 years) including paved roads, rail, power, experienced miners, and sufficient support industries, located 250 km south of Belgrade by all season, paved roads. In a previous drill program conducted by Balkan Gold, at a location in the Basin approximately midway between the Piskanja and Pobrdje deposits, 6 exploratory drill holes returned occurrences of borates. Three of the six drill holes intersected occurrences of borates that exceed the Company’s economic criteria for grade and thickness. Two of the six drill holes intersected one boron layer of potential economic grade and thickness, while a third drill hole intersected two distinct prospective boron layers. Mineralized intervals included one intersection of 1.88 meters averaging 41.33% B2O3, a second intersection of 1.3 meters averaging 41.88% B2O3, and a third intersection of 1.75 meters averaging 39.71% B2O3.

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