ABOUT PRISM DIVERSIFIED

(Compliant NI 43-101) 557 Million Tonne Resource (182 Million Tonnes of Iron Indicated & 2.45 Billion lb of Vanadium Indicated)

Development History

PRISM's work camp at Clear Hills

Through three diamond core drilling programs, a resource of 557 million tonnes of mineralized material has been defined (182 million tonnes contained iron and 2.45 billion pounds of contained vanadium pentoxide), with the results reported in a NI 43-101 technical resource report (July 2012) released by SRK Consulting (Canada) Inc. on behalf of Ironstone Resources.

The company has also excavated a bulk sample pit and extracted 11,000 tonnes of mineralized material for metallurgical evaluations and process development.

Lithium-rich brines in Devonian-age oil and gas reservoirs underlie PRISM's Clear Hills permits supported by several regional studies and government reports. PRISM quadrupled its permit-holdings in the Peace Region and now hold a 100% undivided interest in 450,000 acres (200,000 hectares)

The overlying overburden is comprised of bentonite-rich expandable clays for potential use in the production of light-weight expandable clay aggregates (LECA), or which can be manufactured into a variety of environmentally-friendly building and road construction products.

With development starting in 2007 under Ironstone Resources' tutelage, the Clear Hills Project will serve as the focus for the long-term production of iron, vanadium, cobalt to support the growing demand for high-purity iron powder products, and critical minerals such as vanadium and cobalt.

In early 2018, Ironstone Resources was renamed to PRISM Diversified Ltd. to mark the company's entry into its commercialization stage of development. PRISM is an acronym for "Peace Region Innovative & Sustainable Manufacturing", an homage to the pioneering people and generations of determined effort to make this one of Alberta's most dynamic and high-growth regions.

PRISM's Clear Hills asset is located in NW Alberta, Canada

Clear Hills Location

The Clear Hills Project is situated in the heart of Peace Country, 200 kms north of the city of Grande Prairie in northwestern Alberta. The region hosts a near-surface polymetallic iron-vanadium deposit that extends along the eastern flanks of the Clear Hills.

With a population base of more than 170,000 surrounding the Clear Hills, the region features well developed infrastructure including highways, major rail, airports, schools and vocational institutions, commercial businesses and government offices, and local energy production and pipelines.

With one of the strongest economies in Canada, welcoming and inclusive communities, world class health and educational facilities, and a wealth of recreational and cultural activities all year round, Alberta is truly a place of boundless opportunity and a great place to live, work and raise a family.

Summary of PRISM's Achievements to Date:

  • raised over $30 million from over 300 shareholders, including three UK-based institutional investors

  • conducted three diamond core drilling programs and detailed analytics on all cores

  • published a NI 43-101 compliance report with 557 million tonnes of indicated iron-vanadium mineralization (182 million tonnes of contained iron and 2.45 billion pounds of contained vanadium pentoxide)

  • developed a bulk sample pit and extracted 11,000 tonnes of mineralized material for process development and pilot tests

  • published a NI 43-101 compliant technical report on the Clear Hills lithium potential

  • conducted successful preliminary evaluations of the efficacy of carbonyl vapour metallurgy on its iron-vanadium resource

  • developed many key alliances with leading-edge global firms in mineral and process development

  • garnered the financial support of the provincial and federal government's R&D and economic development agencies