Boron One Holdings Inc. announced the following progress report regarding the mineral exploitation licensing process for its wholly owned Piskanja Boron Project, located in Serbia: At the Company's request and as anticipated, the Company has been notified that the Ministry of Environmental Protection has reached a decision that an environmental impact assessment study ("EIA") will be required for the Piskanja Project, as well as having determined the scope of the required EIA. In preparation for this decision, the Company had previously retained the services of the Mining Institute of Belgrade to prepare an EIA. This decision by the Ministry has been publicly posted as is required under the law, after which the Company expects to imminently be issued the final documentation which details the required scope and content of the EIA.

While a summary of the EIA accompanies the submission for Approval for the Exploitation Field, the full EIA is not required for submission until 2025. Boron One is prepared to submit for "Approval for the Exploitation field, the next step in the licensing process, upon receipt of the documentation from the Environment Ministry.