North Atlantic Potash Inc.

Holds nine mining leases and one exploration permit to develop the world’s largest potash deposit in Canada

North Atlantic Potash Inc. (NAP, a subsidiary of Acron Group) and CanPacific Potash Inc. (a joint venture between NAP and Rio Tinto, represented by Rio Tinto Potash Management Inc.) hold nine mining leases and one exploration permit for mining property covering approximately 1,960 km2 at a potash deposit in Saskatchewan, Canada. Acron Group considers these holdings to be a long-term investment in its potash resource base. The area is divided into two promising clusters, including the Albany project (six parcels in the south of Saskatchewan) and the Foam Lake project (four parcels in the northern part of the exploration and mining area in the province).

CanPacific Potash Inc. (Albany Project)

The Albany project covers approximately 1,350 km2. The recoverable reserves total 793.4 mn t of KCl, including 77.6 mn t in proved and 715.9 mn t in probable reserves (NI 43-101 report), which is sufficient to support more than 200 years of steady mine operation at a potential rate of 3.25 mtpa. The volume of reserves, KCL concentration, formation temperature and location make this project one of the world’s best solution mining prospects.

Albany Project Reserves under the NI 43-101 Technical Report dated April 2019

* Material tonnages contained within cavern designs

** Recoverable KCl after application of recovery factors

Foam Lake Project

The Foam Lake project covers about 600 km2. The indicated and inferred resources at a depth of 1,000 to 1,100 m with average KCl grade of 30% total 942 mn t of potash salts under NI 43-101 standards. Recoverable resources are estimated at 89 mn t of KCl. The project is suitable for constructing a conventional potash mining facility.

Foam Lake Resources under the NI 43-101 Technical Report dated December 2012

* Recoverable KCl after application of recovery factors

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