In 1984 Asia Pacific Potash Corporation Limited. (APPC) signed the Udon Thani Potash Concession Agreement with the Government of the Kingdom of
Thailand with the objective of exploring, developing and marketing a commercial deposit of sylvinite-type potash rock. The initial Potash Concession covered
2,330 square kilometers. Subsequently, in 1993 an extensive exploration program commenced that resulted in the discovery and delineation of two adjacent
deposits of sylvinite-type potash in the Province of Udon Thani, Northeastern Thailand. The two deposits referred to as Udon South and Udon North are proven
to contain what are considered to be amongst the highest-grade potash deposits in the world.

Between 1993 and 1998 APPC conducted an exploration and resource delineation program that included drilling a total 169 boreholes and 500 line-km of 2D-
seismic. Geology modeling and stratigraphic/structural interpretation was conducted in-house by NI 43-101 compliant and Qualified Persons. The geotechnical
work was subsequently followed by three feasibility-level studies and application for a mining license for Udon South.

APPC was acquired by Italian-Thai in 2006. A Bankable Feasibility Study (BFS) for the Udon South Potash Deposit was commissioned by APPC in 2011. A mine
design based on room and pillar layout with backfill applied resulted in ‘Proven and Probable Extractable Reserves of Sylvinite of 108.48 Mt with average ore
grade of 23.62% K2O. This ore tonnage is equivalent to 36.37 Mt MOP (KCl product).

The Udon South Potash project will be located approximately 15-kilometers southeast of Udon Thani. The mining lease covers an area 42.3 km2 in Muang and
Prajak Silapakom Districts. Sufficient reserves for a life-of-mine expectancy of 21-years are proven with planned production of 2 Mt per year of MOP (KCl product).

A Canadian NI 43-101 compliant resource study for Udon North was conducted in 2013.The resource estimation study outlined an Inferred, Indicated and Measured Sylvinite Resource of 558.2 Mt with average grade 17.8% K2O. This is equivalent to an in situ tonnage of 157.25 Mt KCl. As well, carnallitite mineral resource of 616.53 million tones with 12.55% K2O was estimated. This is equivalent to an in situ tonnage of 122.5 Mt KCl.