Global

ASX ANNOUNCEMENT ASX: GSC

15 June 2016 Geoscience

Global Announces High-Grade Rock Chip Results from Nevada Lithium-Boron Project

Highlights

• High-grade lithium in rock chip samples from outcropping mineralisation 100-250m west of area of previous drilling and outside Exploration Target area

• Samples contain 1000-3000ppm Li (0.5 to 1.6% Lithium Carbonate Equivalent)

• Previous drill hole located 250m east of highest grade rock chip sample intersected the same mineralised unit at depth (down-dip)

  o 48.8m at 2021ppm Li (1.07% LCE) and 0.7% B from 108.2m in hole SBH9

• This zone of shallow, high-grade mineralisation has not been previously drilled

• Results highlight potential for additional high-grade, near-surface mineralisation and indicate possible upgrading through low-cost crushing and screening

  Summary

  Global Geoscience Limited ("Global" or the "Company") is pleased to announce the results of rock chip samples collected as part of its due diligence investigation at the Rhyolite Ridge Lithium-Boron project in Nevada. Five samples collected from the upper mineralised unit at the south basin contain 1000 to 3000ppm Lithium (0.5 to 1.6% Lithium Carbonate Equivalent). The results are consistent with previously reported RC drill results and confirm the potential for high-grade, near surface lithium mineralisation. Boron analysis is still in progress.

  The results also indicate that the mineralisation may be amenable to upgrading via low-cost crushing and screening. In two samples, the grade of the mineralisation increased by a factor of 2 when the -35 mesh (-0.5mm) fraction was separated and analysed.

  Lithium content expressed in ppm is converted into Lithium Carbonate Equivalent (LCE) by multiplying by 5.32. 2000ppm Li is equivalent to 1.06% LCE

  Global Geoscience Ltd	Tel: Fax:	+61 (2) 9922-5800 +61 (2) 9922-4004
  ABN 76 098 564 606
  Suite 203, 161 Walker Street	e-mail:	[email protected]
  NORTH SYDNEY NSW 2060	Web:	www.globalgeo.com.au
  AUSTRALIA

  Location

  The Project is located 60km southwest of Tonopah and 340km by road from Reno and Tesla's Gigafactory in Nevada, USA. The Project is 30km west of Albemarle Corporation's Lithium Brine Operation at Clayton Valley, the only operating lithium mine in the USA. The tenements straddle an all weather gravel road that extends 15km from a paved highway and powerlines.

  Figure 1. Location map

  Rock Chip Sampling

  Global recently collected five surface rock chip samples as part of its due diligence investigation at the Rhyolite Ridge Lithium-Boron Project in Nevada. The five samples were collected from the upper mineralised unit at the south basin and returned results of 1000 to 3000ppm lithium (0.5 to 1.6% Lithium Carbonate Equivalent). The samples were collected up-dip of the area drilled during 2010-2011 (36 holes) and outside of the Exploration Target area. The results are consistent with previously reported RC drill and surface rock chip results.

  A subset of the each sample was obtained by screening at -35 mesh (-0.5mm). The -35 mesh fraction was then processed and analysed separately using the same methods. The two samples collected from in-situ outcrop (LBR01 and LBR02) show a significant increase in grade (x2) for the -35 mesh fraction when compared to the total sample results (see Table 1). In these two samples, approximately 20% of the sample reported to the -35 mesh fraction. This

  indicates that the mineralisation may be amenable to upgrading via low-cost crushing and screening.

  Rock chip samples of approximately 5kg were collected from outcrop as grab or semi- continuous channel samples perpendicular to the mineralisation. Samples were collected, bagged and given a unique number on site. Samples were submitted to American Assay Laboratories in Sparks, Nevada for preparation and analysis. Industry standard methods were used for the collection, preparation and analysis of the samples.

  Total Sample 2-acid digest		-35 Mesh Fraction 2-acid digest
  SampleID	East	North	Li (ppm)	Li2CO3 (%)	Li (ppm)	Li2CO3 (%)	Comment
  LBR01	424702	4185736	975	0.52	2421	1.29	Outcrop in pit wall
  LBR02	424748	4185751	1016	0.54	2270	1.21	Outcrop in pit wall
  LBR04	424153	4184277	2915	1.55	2744	1.46	Loose material from trench
  LBR05	424209	4184179	1380	0.73	1358	0.72	Loose material from trench
  LBR06	424293	4185233	1277	0.68	1448	0.77	Mine dump material

  Table 1. Rock chip results; coordinates in UTM Zone 11, NAD27

  Exploration Target

  Global has previously announced (8 June, 2016) an Exploration Target of 200 to 300 million tonnes of 1200 to 2000ppm Lithium (Li) (0.64 to 1.06% Lithium Carbonate Equivalent) and 0.6 to 1.2% Boron (B) for the Rhyolite Ridge Lithium-Boron project. The Exploration Target is based on actual exploration results including surface geological mapping, rock chip sampling and 15 Reverse Circulation (RC) drill holes. The potential quantity and grade of the Exploration Target is conceptual in nature and there has been insufficient exploration to estimate a Mineral Resource. It is uncertain if further exploration will result in the estimation of a Mineral Resource.

  Future Work

  Upon completion of due diligence the Company intends to undertake an exploration program to test the Exploration Target described in this report. Work that will be undertaken over the next three to six months will include:

• RC and Core drilling (confirmation, infill and extension) leading to estimation of a Mineral Resource

• Preliminary metallurgical and process studies

• Surface sampling (outcrop and trench) over areas outside of the zone of drilling

Terms

Global has been granted an option to acquire a 100% interest in the Rhyolite Ridge Lithium- Boron Project in Nevada. The option agreement entitles the Company to an exclusivity period

expiring on 3 July 2016 in which to conduct due diligence on the Project, and a 12 month option period in which it may exercise the option. Due diligence, including check assaying and compilation and assessment of available drill hole data, is in progress. For further information regarding terms, refer to Company Announcement dated 3 June 2016.

Bernard Rowe Managing Director Global Geoscience Ltd

Contacts

Bernard Rowe Darien Jagger

Managing Director Executive Director

Global Geoscience Ltd Cygnet Capital Pty Limited T: (02) 9922 5800 T: (08) 9226 5511

E: [email protected] E: [email protected]

References

American Lithium Minerals Inc. Report dated Oct 7, 2010 American Lithium Minerals Inc. Report dated Feb 8, 2011 American Lithium Minerals Inc. Report dated Mar 18, 2011

Global Geoscience Ltd, 2016. Company Report titled "Global to Acquire Advanced Nevada Lithium-Boron Project" dated 3 June, 2016.

Global Geoscience Ltd, 2016. Company Report titled "Global Announces Exploration Target at Nevada Lithium-Boron Project" dated 8 June, 2016

Competent Persons Statement

The information in this report that relates to Exploration Results and Exploration Targets is based on information compiled by Bernard Rowe, a Competent Person who is a Member of the Australian Institute of Geoscientists. Bernard Rowe is an employee and Managing Director of Global Geoscience Ltd. Bernard has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Bernard Rowe consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.