Figure 3: Indigo’s Fox Creek Lithium Brine Project (in purple) relative to LithiumBank resource areas

Fox Creek Project

The Fox Creek Project covers an area of 114,522 hectares (see Figure 2) and is comprised of the Fox Creek East (45,568 hectares), Fox Creek West (59,738 hectares) and Fox Creek Central (9,216 hectares) areas. These areas are targeting the Devonian Reef Complex, which is both a prolific formation for the production of hydrocarbons but also has the highest consistent lithium concentrations according to sampling data from the Alberta Geological Survey, between 72-130mg/L Li. This area is also being actively explored by Lithium Bank (TSXV:LBNK), who is expected to table a resource for its Fox Creek area in Q2/2023, and by Highwood Asset Management (TSXV:HAM).