Far Resources drills 23 m of 1.1% Li2O and gets ready for 6 additional pegmatites

January 9, 2017

Report #3Lithium in Manitoba, Canada, Gold in New Mexico, USA

Far Resources drills 23 m of 1.1% Li2O and gets ready for 6 additional pegmatitesToday, Far Resources Ltd. reported assay results from its phase-1 drill program on the Zoro Lithium Project near Snow Lake in mining-friendly Manitoba, Canada.

The initial 7 holes successfully confirmed historic drilling on Dyke #1. Each hole intersected lithium-bearing spodumene mineralization over intervals of up to 28 m, with 2 holes terminated in mineralization.

Based on today’s results, it appears that lithium grades and pegmatite widths are

strongest in the northwest portions of Dyke #1, as shown by the wide and high-grade intersection in hole #7 (1.1% Li2O over 23 m). Further exploration, including additional drilling, will focus in this area of the dyke. At the south end, hole #1 intersected multiple thin pegmatite intervals, possibly due to faulting, returning 1.49% Li2O over 2 m.

With a total of 1,140 m completed, the initial 7 holes were only drilled to shallow depths of 163 m on average. Phase-2 drilling is expected to test for mineralization extending at depth.

Company Details

Far Resources Ltd.Unit 114B – 8988 Fraserton CourtBurnaby, BC V5J 5H8 CanadaPhone: +1 604 805 5035Email: [email protected]

Shares Issued & Outstanding: 57,191,556

Canadian Symbol (CSE): FATCurrent Price: $0.09 CAD (01/09/2017)Market Capitalization: $5 million CAD

German Symbol / WKN: F0R / A2AH8W Current Price: €0.062 EUR (01/09/2017)Market Capitalization: €4 million EUR

Chart Canada (CSE)

Chart Germany (Frankfurt)

Looking southwest from Zoro‘s Dyke #1 towards the lake that serves as water source for drilling

2

The average Li2O grade of all 7 holes exceeds 1%, which can be considered a “world-class” when comparing with other hard-rock lithium projects worldwide; e.g. the Mt. Cattlin Project in Australia (Galaxy Resources) with an average resource grade of 1.08% LiO2 (currently being developed into a mine).

As being the case with most hard-rock lithium projects, one single lithium-bearing pegmatite is rarely sufficient to warrant a mining operation. However, pegmatites typically occur in clusters or dyke swarms. To date, an additional 6 pegmatites, outcropping at surface, are known to exist in proximity to Dyke #1 on the Zoro Property. Additional (hidden) pegmatites may get discovered under a shallow cover during the upcoming exploration programs.

According to today’s news, a crew is im-mediately being mobilized to undertake a field assessment of these 6 known dykes. The upcoming phase-2 drill program is expected to test several of these (in addi-tion to follow-up drilling at Dyke #1).

Keith Anderson, President and CEO, commented today:

“We are pleased that the results from our first drill program on the Zoro lithium property compare favorably with historic data. We have identified higher-grade portions of Dyke #1 which will be the focus of further exploration. Additionally, upcoming field work will assess six other known lithium-bearing pegmatite dykes on the property, where reconnaissance sampling over the summer returned values of up to 6.35% Li2O”.

Report #3 | Far Resources Ltd.

Drill Hole # Best IntervalDDHFAR16-1 1.49% Li2O over 2 mDDHFAR16-2 1.07% Li2O over 7 m*DDHFAR16-3 1.12% Li2O over 9 mDDHFAR16-4 Maximum 0.55% Li2ODDHFAR16-5 Maximum 1.30% Li2O

0.77% Li2O over 8 m1.31% Li2O over 1.42 m*1.1% Li2O over 23.39 m1.18% Li2O over 4.11 m

DDHFAR16-6

DDHFAR16-7

*Hole terminated in mineralization

Weighted averages for Li2O from first 7 drill holes at Zoro Lithium Property

“As global lithium demand increases over coming years, hard-rock operations will be able to respond to market conditions much

faster than their brine counterparts... With the recent lithium feedstock shortage

in China, a number of low-grade, high cost deposits have been restarted to sell to downstream processors.“ (Deutsche Bank

“Welcome to the Lithium-ion Age“; May 2016)

3

In July 2016, Far Resources reported assays from a rock chip sampling program of 3 separate pegmatites/dykes on its Zoro Property (515 hectares):

• Dyke 2 averaged 3.12% Li2O (2 samples)• Dyke 4 averaged 2.41% Li2O (1 sample) • Dyke 5 averaged 3.93% Li2O (4 samples; 2 exceeded 6% Li2O)

Average of all 7 samples: 3.48% Li2O

In 1956/1957, when lithium prices and demand were very low, a total of 78 shallow holes were drilled at Zoro by Green Bay Uranium Ltd., identifying 7 pegmatites. About 60% of these holes were drilled into Dyke 1, delineating a (historical) “reserve estimate” of 1.8 million t averaging 1.4 Li2O.

Historic drilling was shallow to only test for near-surface mineralization, however it was noted that the pegmatites thicken at depth and remain largely untested below 200 m from surface.

Criteria facilitating Zoro to quickly advance to a world-class lithium project with the recently completed and upcoming drill programs:

• Highly favourable metallurgy expected due to low impurities, such as iron, and a coarse-grained spodumene mineralization (white to light-greenish colour, similar to Whabouchi).

• Nearby infrastructure (power line: 4 km; road: 11 km; airport: 12 km; rail: 34 km).

• 7 known pegmatites provide significant resource definition potential in 2017. Sampling may identify new anomalies; stripping and trenching of anomalies may discover hidden pegmatites.

• By-product potential (e.g. tantalum, caesium, rubidium) remains unknown. The Tanco Mine (Cabot Corp.) in southeast Manitoba used to produce lithium-bearing spodumene, and tantalum; currently producing only caesium (the world’s largest known pollucite deposit, accounting for 2/3 of known global resources).

• Mining-friendly community (Snow Lake) and province (Manitoba) in a safe and stable mining jurisdiction.

• First Nation consultation and engage-ment not required in the Flin Flon-Snow Lake greenstone belt where the Zoro Property is located.

“Although lithium metal prices were first reported in trade publications in 1952, demand was very low. From 1952 to 1974, lithium prices remained flat in terms of current dollars; in terms of constant dollars, however, prices decreased. The

potential use of lithium in batteries for electric vehicles was first discussed in the Minerals Yearbook in 1972. The downward trend in lithium metal prices reversed in 1974.“ (Joyce A. Ober in USGS 1999)

Previous Coverage

Report #2: Far Resources gains momentum with drill results pending from its Zoro Lithium Project in Manitoba

Report #1: Drill Results Pending From a Potentially World-Class Hard-Rock Lithium Project

Report #3 | Far Resources Ltd.

4

Disclaimer and Information on Forward Looking Statements:All statements in this report, other than statements of historical fact should be con-sidered forward-looking statements. Much of this report is comprised of statements of projection. Statements in this report that are forward looking include that Far Resources Ltd. or any other company or market will perform as expected; that Far Resources Ltd. will complete the recently announced drilling; that the company will confirm historic results; that Far Resources Ltd. or its partner(s) can and will continue exploring; that the company can raise sufficient funds for a transaction, exploration and corporate matters; that any of the mentioned plans, comparisons with other companies, regions or numbers are valid or economic. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in these forward-looking statements. Risks and uncertainties respecting gold and resource companies are generally disclosed in the annual financial or other filing documents of Far Resources Ltd. and similar companies as filed with the relevant securities commis-sions, and should be reviewed by any reader of this report. In addition, with respect to Far Resources Ltd., a number of risks relate to any statement of projection or forward state-ments, including among other risks: the re-ceipt of all necessary approvals and permits; the ability to conclude a transaction to start or continue exploration; uncertainty of future market regulations, capital expenditures and other costs; financings and additional capital requirements for exploration, development, construction, and operating of a facility; the receipt in a timely fashion of further permitting for its legislative, political, social or economic developments in the jurisdic-tions in which Far Resources Ltd. carries on business; operating or technical difficulties in connection with production or development activities; the ability to keep key employees, joint-venture partner(s), and operations financed. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Rockstone and the author of this report do not undertake any obligation to update any statements made in this report.

Disclosure of Interest and Advisory Cautions: Nothing in this report should be construed as a solicitation to buy or sell any securities mentioned. Rockstone, its owners and the author of this report are not registered broker-dealers or financial advisors. Before investing in any securities, you should consult with your financial advisor and a registered broker-dealer. Never make an investment based solely on what you read in an online or printed report, including Rockstone’s report, especially if the investment involves a small, thinly-traded company that isn’t well known. The author of this report is paid by Zimtu Capital Corp., a TSX Venture Exchange listed investment company. Part of the author’s responsibilities at Zimtu Capital Corp. is to research and report on companies in which Zimtu Capital Corp. has an investment. So while the author of this report is not paid directly by Far Resources Ltd., the author’s employer Zimtu Capital Corp. will benefit from appreciation of Far Resources Ltd.’s stock price. The author also owns securities of Far Resources Ltd., as well as shares of Zimtu Capital Corp., and thus would also benefit from volume and price appreciation of its stocks. Hence, multiple conflicts of interests exist. Therefore, the information provided herewithin should not be construed as a financial analysis or recommendation but as advertisement. The author’s views and opinions regarding the companies featured in reports are his own views and are based on information that he has researched independently and has received, which the author assumes to be reliable. Rockstone and the author of this report do not guarantee the accuracy, completeness, or usefulness of any content of this report, nor its fitness for any particular purpose. Far Resources Ltd. has not reviewed all of the content of this report prior to publication. Lastly, the author does not guarantee that any of the companies mentioned in the reports will perform as expected, and any comparisons made to other companies may not be valid or come into effect. Please read the entire Disclaimer carefully. If you do not agree to all of the Disclaimer, do not access this website or any of its pages including this report in form of a PDF. By using this website and/or report, and whether or not you actually read the Disclaimer, you are deemed to have accepted it. Information provided is educational and general in nature.

Analyst Profile & Contact

Stephan Bogner (Dipl. Kfm. FH)Mining Analyst Rockstone Research 8050 Zurich, [email protected]

Stephan Bogner studied at the International School of Management (Dortmund, Germany), the European Business School (London)

and the University of Queensland (Brisbane, Australia). Under supervision of Prof. Dr. Hans J. Bocker, Stephan completed his diploma thesis (“Gold In A Macroeconomic Context With Special Consideration Of The Price Formation Process”) in 2002. A year later, he marketed and translated into German Ferdinand Lips‘ bestseller („Gold Wars“). After working in Dubai for 5 years, he now lives in Switzerland and is the CEO of Elementum International AG specialized in duty-free storage of gold and silver bullion in a high-security vaulting facility within the St. Gotthard Mountain Massif in central Switzerland.

Rockstone is a research house specialized in capital markets and publicly listed companies. The focus is set on exploration, development, and production of resource deposits. Through the publication of general geological basic knowledge, the individual research reports receive a background in order for the reader to be inspired to conduct further due diligence. All research from our house is being made accessible to private and institutional investors free of charge, whereas it is always to be construed as non-binding educational research and is addressed solely to a readership that is knowledgeable about the risks, experienced with stock markets, and acting on one’s own responsibility.

For more information and sign-up for free newsletter, please visit: www.rockstone-research.com

Report #3 | Far Resources Ltd.