Orocobre Limited – Cauchari Drilling Update

Orocobre Limited (ASX: ORE, TSX: ORL) (“Orocobre” or “the Company”) provides the following general update on activities at the Cauchari JV property located in Jujuy Province, Argentina.

The exploration program is being managed by JV partner Advantage Lithium Corp. (“Advantage Lithium”) (TSX Venture: AAL) (OTCQX: AVLIF) who hold 75% of Cauchari. Orocobre owns 33.5% of Advantage Lithium’s issued capital and 25% directly in the joint venture.


— The Phase III infill drilling and resource conversion program is close

to completion in the NW Sector and continues in the deep sand unit in

the SE Sector. The program is currently on track to upgrade the current

Inferred Resource to Measured and Indicated Resources by early 2019

— Drilling of holes CAU22, CAU25, CAU27 and CAU19 recently completed in

the SE Sector

— Drilling of holes CAU28 and CAU29 completed to extend the NW Sector

resource area further south, increasing it by ~20%. Drilling identified

the presence of an extensive (>300 m thick) sequence of sand and gravel

in the southern continuation of the NW Sector

— Constant-rate pumping test completed in CAU11 to simulate long-term

production; CAU07 pumping test to begin within 2 weeks.

Managing Director & CEO Richard Seville

/Public Release.