Boron One Holdings Inc. reported that an independently authored Feasibility Study for the Company's Piskanja Boron Project (the "Feasibility Study") has been completed, and is ready for submission to the Serbian Mining Ministry in compliance with the terms of the Company's exploration license. Submission of the Feasibility Study, which has been drafted in accordance with Serbian mining regulations, will fulfill the Company's second and final obligation in the mineral exploitation license approval process. The Company is awaiting completion of the vetting process of its Geological Elaborate by the Serbian Mining Ministry's independent Mining Commission, as the mandatory first step in the exploitation license approval process.

As previously reported by the Company, approval of a Geological Elaborate results in the issuance of a Certificate of Reserves by the Mining Ministry. Upon receipt of the Certificate of Reserves, it is included with the Feasibility Study as a requisite part of the Feasibility Study submission process. A Serbian compliant feasibility study is of similar scope, scale and confidence level as a CIM (Canadian Institute of Mining, Metallurgy and Petroleum Standards on Mineral Resources and Reserves) compliant pre-feasibility study.

The Piskanja Boron Feasibility Study defines the optimal development scenario for an underground mine, product beneficiation circuits, plant site, infrastructure, environmental safety, and a closure plan. The Feasibility Study includes an analysis of all aspects of the project, and incorporates data from several external studies, including the Company's Geological Elaborate, metallurgical testing, 3D resource modeling, and others. The Feasibility Study was authored by an independent, experienced mining engineering institute, located in Serbia.