Boron One Holdings Inc. reported that it has submitted an application to re-acquire an exploration license for the Jarandol Basin in Serbia, which was previously held by the Company from 2013 to 2018. The Jarandol License application covers 20.97 square kilometers and includes all territory directly adjacent to, and in between, both Boron One's 100% owned Piskanja boron project on the eastern edge of the Jarandol Basin, and the Serbian government owned Pobrdje Boron Mine, some 2.5 km away from Piskanja on the opposite edge of the basin. Previous exploration has shown that Jarandol has the potential to host extensions to both the Piskanja and Pobrdje boron deposits, and/or the potential to host separate, similar boron deposits.

In a previous drill program conducted by Boron One (as reported by the Company on December 22, 2015), all 8 drill holes returned occurrences of borates. Additionally, 3 of the drill holes intersected 2 borate beds of potential commercial grade and thickness. The Jarandol Basin is a well-known historical mining district in southern Serbia which hosts two known boron deposits, an operating coal mine, and a (now depleted) magnesite mine.

The Basin hosts excellent infrastructure for mining including local paved roads, rail, power, experienced miners, and sufficient support industries, located 250 km south of Belgrade by good paved roads. The Jarandol Basin is a Miocene age tertiary deposit located within the Vardar Belt of Neogene lacustrine deposits of evaporates. The Vardar Belt contains the world's richest borate deposits, including those found in Turkey, which are of similar genesis to the Serbia borate deposits.