ION Energy Limited is a Canada-based company, which is engaged in exploration and development Mongolia's lithium salars. The Company’s projects include Baavhai Uul lithium brine and Urgakh Naran lithium brine. Its flagship, approximately 81,000-hectare Baavhai Uul lithium brine project, is a lithium brine exploration project. Its average grade is approximately 426 parts per million (ppm) Lithium and maximum grade is 811 ppm Lithium. The Urgakh Naran Lithium Brine Project covers an area of approximately 20,000 hectares (+70,000 acres) of highly prospective lithium terrain. It is situated in the arid and infrastructure region of the South Gobi Desert. This site is located 150km WNW of the Company's flagship Baavhai Uul Lithium Project. The Project's program covers five salars located in the central part of the Urgakh Naran basin.