Boron One Holdings Inc. reported that it has received a mineral exploration license covering 21 square kilometers within the Jarandol Basin in Serbia. The Jarandol Basin License contains all the land within the basin, which is prospective for boron, including the territory directly adjacent to, and in between, the Company's 100% owned Piskanja Boron Project on the eastern edge of the basin, and the government owned Pobrdje Boron Mine, located 2.5 km away from Piskanja on the opposite edge of the basin. Previous exploration in the Jarandol Basin by the Company has shown that Jarandol has the potential to host extensions to both the Piskanja and Pobrdje boron deposits, as well as the potential to host unrelated boron deposits.

In a previous drill program conducted by Boron One, 6 exploratory drill holes returned occurrences of borates, conducted at a location approximately midway between the Piskanja and Pobrdje deposits. Two of the six drill holes intersected one boron layer of potential economic grade and thickness, while a third hole intersected two distinct boron layers. Mineralized intervals included one intersection of 1.88 meters averaging 41.33% B2O3, a second intersection of 1.3 meters averaging 41.88% B2O3, and a third intersection of 1.75 meters averaging 39.71% B2O3.

The Jarandol Exploration License is valid for 3 years, covers 21.03 km2, and is extendable by the Company up to a total of 8 years, subject to Serbian mining regulations.