Boron One Holdings Inc. announced the following update regarding the next step in the mineral exploitation licensing process for its wholly owned Piskanja Boron Project: As reported by the Company, Boron One has been granted a Certificate of Reserves (?CoR?) for its Piskanja Boron Project, by the Serbian Mining Ministry. The CoR is a requisite step in the mineral exploitation licensing process, and permits the Company to proceed to the next step in the approval process, which is the ?Approval for the Exploitation Field?. The documentation and permits which the Company is obligated to submit to the Mining Ministry in order to receive an ?Approval for the Exploitation Field?

include the CoR, a Serbian-compliant Feasibility Study, a synopsis of an Environmental Impact Assessment (?EIA?) which details the scope and proposed content of the EIA, along with various permits that are granted by a number of government ministries, other than the Mining Ministry. All the noted documentation has been completed and is ready for submission, and all ministerial permits have been granted, apart from the permit to be issued by the Environment Ministry. Boron One anticipated that this final permit would take the longest to receive, as there are several steps in this process, including the drafting of the EIA synopsis which itself required some 60 days to complete by an independent environmental consulting group.

The process with the Environment Ministry is now nearing its completion, and Boron One anticipates it will receive this last requisite permit shortly. Boron One is prepared to submit for ?Approval for the Exploitation Field? immediately upon receipt of the permit from the Environment Ministry.