Salar de Diablillos Project

Click here for the complete PEA Technical Report on the Diablillos Property, Salta, Argentina

Click here for the complete NI 43-101 report on the Diablillos Property, Salta, Argentina

Highlights

Situated in mining friendly Salta Province, Argentina
Rodinia controls the nucleus of the Salar
- Currently own >90% of the Salar
- Control 100% of the prospective producing area
- No sharing issues - no other competition on the Salar
Control enables a fast track to production
Access to required infrastructure:
- Trucking routes
- High tension power
- Water
- Skilled labor

Project Description and Location
The Diablillos property is located approximately 145km southwest of the city of Salta, a few kilometers north of the border between the Provinces of Salta and Catamarca, Argentina. The entire property is within the Province of Salta, and covers an area of 5,786ha in the Puna region of northwestern Argentina.

Rodinia's property covers the entirety of the Salar de Diablillos nucleus and a vast majority of the margin land with only approximately 600 hectares of land in hands of private individuals.

Rodinia owns the right to explore and harvest the lithium-bearing brines within the mining leases currently owned by Borax Argentina, as well as the rights to an additional three mining leases and two exploration leases on the Salar.

Brine Resource Estimate, Diablillos Lithium-Potash Project, Salta, Argentina as of March 29, 2011

On April 1, 2011, Rodinia provided and updated Brine Resource Estimate for the Salar de Diablillos Lithium-Potash Project. The updated estimate reports an inferred recoverable brine resource of 530,000 tonnes of lithium metal, 5,911,000 tonnes of potassium and 615,000 tonnes of boron, which is equivalent to 2,817,000 tonnes of lithium carbonate equivalent, 11,270,000 tonnes of potash and 3,519,000 tonnes of boric acid. This inferred recoverable brine resource is a follow up to an inferred in-situ brine resource announced on March 2, 2011. The inferred in-situ brine resource consists of 4,959,000 tonnes of lithium carbonate equivalent, 19,837,000 tonnes of potash and 6,194,000 tonnes of boric acid.

Table 1 - Brine Resource Estimate, Diablillos Lithium-Potash Project, Salta, Argentina as of March 29, 2011

Aquifer	Recoverable Brine Volume	Specific Yield	S. G.	Concentration			Recoverable Tonnage			Recoverable LCE	Recoverable PE	Recoverable BAE
	(1000m3)	(%)		Li (mg/l)	K (mg/l)	B (mg/l)	Li (Mt) (1000)	K (Mt) (1000)	B (Mt) (1000)	Li2CO3 Mt eq. (1000)	KCl Mt eq. (1000)	Boric Acid Mt eq. (1000)
I	41,470	15.00%	1.10	592	6,298	647	25	261	27	131	498	153
II	270,825	18.50%	1.07	471	5,269	540	128	1,427	146	679	2,721	836
III	640,258	18.50%	1.10	589	6,595	691	377	4,223	442	2,007	8,051	2,530
TOTAL	952,553	18.31%	1.09	556	6,206	646	530	5,911	615	2,817	11,270	3,519

Table 1 - Inferred recoverable brine resource estimate for the Salar de Diablillos. Equivalent tonnages are reported as recoverable in metric tonnes ("Mt") and were calculated using standard conversion rates as determined by the chemical composition of the final product, and are independent of price and mining processes. A 230 mg/l Li cut off was used for all resource estimations.

Notes:

Recoverable resources are determined by the specific yield which is the unit volume of fluid that will drain under gravity. The specific yield values may change when further data from the Diablillos deposit are collected. These resources do not include allowance for losses in extraction of Li, K and B from brines in a treatment plant.
The economic cut-off applied was based on analogous deposits.
Assumptions regarding thicknesses of Aquifer ll and lll may change with more detailed drilling and geophysical data.
The effective date of the estimate is March 1, 2011.

Work Programs

Rodinia began work on Diablillos in 2010. By the end of the same year, the Company had completed an extensive auger sampling program and had drilled 16 reverse circulation drill holes covering the entire basin, collecting data that included lithology, specific gravity, reverse circulation return flow rates, temperature and other field measurements. Additionally, downhole geophysical logging (porosity and density), sediment and brine sampling was conducted at regular intervals where possible. The exploration program included a property-wide gravity and topographical survey. The results were deemed adequate for an initial resource estimate.

Lithium mineralization is confined within the enclosed basin. Vulcan software wireframe solids were generated by AMEC Internacional Ingenieria y Construccion Limitada ("AMEC"), a reputable international engineering consulting firm, for the different domains, as well as the basement and topography surfaces. The Diablillos block model was created using a 250x250x6m block size with sub blocks down to 50x50x2m for aquifers II and III. For acquifer I, where auger sampling was done on a 300x300m spacing, and the parent block size was 50x50x6m with sub blocks down to 25x25x2m. Block grades were calculated using inverse distance squared grade estimation methodologies. All blocks were assigned an Inferred brine resource classification. At depth resources within the third aquifer, were limited by an interpolated surface representing 30m below the total depth of drill holes.

The independent brine resource estimate prepared by AMEC is consistent with the standards set out in Canadian Securities Administrators' National Instrument 43-101 and the Company is treating the inferred brine resource estimate as a National Instrument 43-101 Technical Report.