Climate Change Data

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• Negative operating cash flow and potential inability to continue as a going concern.
• Future capital requirements and uncertainty of securing financing.
• Limited operating history and lack of mineral production history.
• Undemonstrated economic feasibility of the Blawn Mountain Project.
• Dependence on the Blawn Mountain Project.
• Uncertainty regarding inferred and estimated mineral resources and historical information.
• Uncertainties related to technologies and processes.
• Potential delays or failure to obtain necessary approvals, licenses, and permits.
• Need to secure water rights and water sources.
• Potential adverse impacts from governmental and regulatory requirements.
• Uncertainty regarding title to mineral properties.
• Undetermined infrastructure and logistic requirements.
• Inherent risks in resource exploration and development.
• Potential for uneconomical mineral extraction.
• Impact of commodity price fluctuations.
• Difficulty in recruiting and retaining key employees.
• Environmental risks and hazards.
• Potential for litigation.
• Potential for construction schedule delays.
• Potential for delays and cost overruns due to climate conditions.
• Inadequate insurance coverage.
• Potential conflicts of interest among directors and officers.
• Potential adverse effects from global financial conditions.
• Risks associated with a foreign subsidiary.
• Difficulties in serving process on non-Canadian directors, officers, and experts.
• Inherent risks and hazards in the mining industry.
• Competitive pressures in the mining industry.
• Cyclical nature of potash demand.
• Impact of weather patterns and natural disasters on demand.
• Lack of existing market for Common Shares.

Mitigation Strategies

• Intention to use proceeds from the offering to fund exploration and development.
• Seeking additional financing through equity issuances or other means.
• Developing strong relationships with project stakeholders.
• Implementing a policy of operating in compliance with environmental regulations.
• Developing a marketing plan for SOP and sulphuric acid.
• Pursuing offtake and partnership arrangements.
• Pursuing project and other financing as required.
• Investigating enhancements to the SOP production process.
• Maintaining adequate cash balances to meet liabilities.
• Deferring discretionary expenditures to conserve cash.
• Developing a permitting plan and schedule.
• Conducting additional exploration and drilling.
• Conducting confirmatory bench and pilot-scale testing.
• Working with Norwest to complete pre-feasibility and feasibility studies.
• Securing construction and operating permits and water rights.
• Developing a comprehensive risk management plan.

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks

• Adverse weather conditions

Reporting Standards

Frameworks Used: NI 43-101

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Water conservation measures implemented in the processing plant design to create a zero-discharge facility.
• Dry grinding selected as part of ore processing to further aid in water conservation efforts.

Social Achievements

• Representatives of Beaver County have expressed strong support for the project.
• The project will assist SITLA in meeting its objectives of optimizing trust land revenues and increasing the value of trust land holdings.

Governance Achievements

• Large Mining Permit secured from the Utah Division of Oil, Gas and Mining.

Climate Goals & Targets

Environmental Challenges

• Securing project financing due to challenges in commodities markets.
• Meeting regulatory requirements for mining and processing operations in Utah.

Mitigation Strategies

• Reduced annual production rate to 3.4Mtpy to improve project value and secure financing.
• Obtained Large Mining Permit and other major permits to address regulatory requirements.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: NI 43-101

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• Securing adequate capital to fund its activities
• Operational risks inherent in the mining and fertilizer industries
• Global economic and commodity price volatility
• Challenging capital market conditions for junior resource issuers

Mitigation Strategies

• Implemented various cost reduction initiatives (reduction in headcount, salary reductions for senior management, elimination of non-critical expenditures)

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Not disclosed

Environmental Achievements

• Not disclosed

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Securing adequate capital to fund activities
• Operational risks inherent in mining and fertilizer industries
• Global economic and commodity price volatility
• Securing necessary permits and financing for project development
• Ensuring profitable production from mineral properties

Mitigation Strategies

• Seeking and evaluating various financing alternatives
• Focusing on key milestones for advancing projects (Valleyfield and Blawn)
• Prudent management of existing cash resources

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: IFRS

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed