Official Statement by Balkan Gold – Clarification Regarding Media Reporting

Regarding the article “State to let Canadians have Pobrdje boron mine – Letter of Intent signed with Boron One” that was published on the eKapija portal on May 6, 2025, the company Balkan Gold doo has sent the Official Statement – Clarification Regarding Media Reporting, the integral version of which is as follows:

“We want to clarify the recent media interpretations regarding our intentions and cooperation with the Government of the Republic of Serbia and the public enterprise JP PEU Resavica, as the recently published article on the eKapija portal featured certain incorrect and misleading claims.

Boron One remains fully dedicated to building a strong and constructive partnership with the Government of the Republic of Serbia, which we believe will bring considerable benefits to all sides, including primarily the local community, the Republic of Serbia, as well as Boron One.

The recently signed Letter of Intent (LOI) is a non-binding document, the purpose of which is exclusively to serve as a basis for considering potential future cooperation.

It does not entail any kind of final decision on the closing of the mine, nor does it represent any kind of official agreement regarding the operations in the Pobrdje location. We appreciate the constant dialogue with the competent institutions of the Republic of Serbia and we are dedicated to transparent and responsible operations, in line with the local laws and the best interests of all parties.

We are kindly asking the public to disregard speculative or wrongly interpreted titles and we are available for all additional clarifications or official inquests.”

Balkan Gold doo Beograd,

Biljana Rankic, Director

Balkan gold doo Beograd

JP PEU Resavica

Vlada Republike Srbije

Balkan Gold doo

Boron One

Government of Serbia

JP PEU Resavica

Pobrđe mine

Letter of Intent

rebuttal