Expert Comments:

	Matthew O'Keefe, Cantor Fitzgerald (9/18/18) "Advantage Lithium Corp. reported results from its phase 3 infill drilling and resource conversion program at its 75%-owned Cauchari project. . .systematic brine sampling completed in holes CAU20 and CAU21 in the north of the northwest sector, respectively, averaged 629 mg/l lithium from 113–318m depth and 607 mg/l lithium from 125–265m."
Matthew O'Keefe, Cantor Fitzgerald (7/27/18) "Advantage Lithium Corp. announced that it has closed its previously announced financing and has issued 15,585,956 common shares at a price of $0.77/common share for aggregate gross proceeds of $12,001,186. . .the capital raise should be sufficient to allow the company to fund its portion of the joint venture at Cauchari through feasibility, which is expected to be completed in H1/19."
MacMurray Whale, Cormark Securities (5/30/18) "We are initiating coverage on Advantage Lithium Corp. with a Buy recommendation and a CA$1.85 price target. . .the company released an updated resource estimate of 3 Mt lithium carbonate equivalent (LCE), growing from the smaller Inferred resource of 470 Kt LCE, established solely on the southeast sector. . .rigs have been mobilized to explore beyond 400m, suggesting that Cauchari could host a much larger resource."
	David Talbot, Eight Capital (5/29/18) "Acquisition of a third-party lithium brine project in Argentina by an end user has a direct and positive valuation read-through for Advantage Lithium Corp.'s Cauchari joint venture. Galaxy Resources announced a nonbinding agreement with POSCO of South Korea today to sell noncore assets in Salar del Hombre Muerto hosting 2.54 Mt lithium carbonate equivalent for $280M. . .we believe this news has potential to directly impact the value given by investors to Advantage."
David Talbot, Eight Capital (5/23/18) "A sixfold resource estimate update was provided overnight at Advantage Lithium Corp.'s Cauchari joint venture. . .a 3 Mt lithium carbonate equivalent Inferred estimate is split between the northwest and southeast sectors and easily surpassed our 2.2 Mt size forecast. Grades were an expected 18% improvement over the previous estimate."
	Matthew O'Keefe, Cantor Fitzgerald (5/22/18) "Last week we visited Advantage Lithium Corp.'s 75%-owned Cauchari project. . .the site visit highlighted the high level of activity in the district, the speed with which the company is progressing and the overall size and potential of the project."

More Expert Comments

Matthew O'Keefe, Cantor Fitzgerald (5/11/18) "We are initiating coverage of Advantage Lithium Corp. with a Buy rating and $2/share target price. . .with a strong partner in an established district and key catalysts in the near term, we see a good opportunity for a significant rerating of the stock."
	David Talbot, Eight Capital (4/18/18) "Advantage Lithium Corp. reported positive brine samples overnight for diamond drill hole CAU17 in the northwest sector of the Cauchari joint venture. . .CAU17 was the largest stepout in the northwest sector, roughly 2.6 km west of previously drilled CAU18. . .both CAU18 and CAU17 have reaffirmed the presence of an economic brine in the northwest, with grades well above the company's historic resource of 380 mg/l Li."
	Rupert Merer, National Bank of Canada (3/26/18) "We are initiating coverage on Advantage Lithium Corp. with an Outperform rating and a CA$1.90 target price. . .an updated resource estimate could come in Q2/18E, and we believe it could grow to between 2.1 and 3.5 Mt lithium carbonate equivalent."
	David Talbot, Eight Capital (3/5/18) "Today's pump test results from Advantage Lithium Corp. demonstrate high flow rates over longer periods due to the favorable sequences of sand and gravel found within the hole. . .the maximum flow rate achieved was 36 l/sec. A longer term test was able to pump 17 l/sec over 48 hours, and flow was limited by equipment used for the test."
Tom Gallo, Canaccord Genuity (2/15/18) "Advantage Lithium Corp. is moving very quickly trying to identify a resource in the Cauchari-Olaroz basin. . .the company has recently released a series of compelling drill results with comparable grades to their neighbors in the 600 mg/l range."
	David Talbot, Eight Capital (2/6/18) "Advantage Lithium Corp. reported very good drilling and pump tests from the Cauchari lithium brine joint venture in Argentina. This includes discovery of a new sandy unit at depth in the southern reaches of the Southeast zone resource area."

Experts Following This Company

	Jorge Ganoza Durant, President, CEO and Director – Fortuna Silver Mines Inc.
	Rupert Merer – National Bank Financial
	Matthew O'Keefe, Senior Research Analyst, Metals and Mining – Cantor Fitzgerald
	David Talbot, Vice President, Senior Analyst – Eight Capital
MacMurray Whale, Analyst – Cormark Securities

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