PROPOSED JOINT VENTURE

The Proposed Joint Venture The Parties to the Proposed Joint Venture is between Essential Resources Investment Limited and four individuals: David Olorunmola Kolade, Muhammed Dahiru Salihu, Emmanuel Chika Nwazue, and Olufikayo Moyosore Olusola. The Nature of the Merger is a Proposed Joint Venture between the above-named Parties to engage in various mining activities.

The Area of activity of the Parties is the Mining Sector and the Markets on which the Merger will have an Impact is Lithium The nature of the Proposed Joint Venture involves one of the Parties Essential Resources Investment Limited (the investor) providing financial and technical support for the Proposed Joint Venture, and shall in total acquire 65% shareholding in the Proposed Joint Venture vehicle/entity MacRae Resources Limited.

The other group of individuals are the Nigerian party who are providing the land and license tenements required for the mining investment in the Proposed Joint Venture vehicle/entity. As part of their long term plans, the Parties plan to establish a plant for the excavation and refinement of the mined raw material/resources to be refined.