Regarding the allegations stated in the article, that Lykos Balkan Metals is planning to extract nickel ore, it is important to emphasize that Lykos is a company performing only geological exploration, and as such is not registered to perform extraction and mining operations.

Hence, our company is only performing detailed geological exploration activities, which do not guarantee confirmation of mineralization in the amount required for mining. As for allegations concerning the opening of a mine in a three year period, in geolog ical and mining practice, this is simply not possible. Detailed geological exploration to be complete takes 8 years on average, according to the Law. If, in the final phase certain mineral resources have been confirmed, and if the amount and quality are sa tisfactory, the next phase is the feasibility study. After this phase is complete, the final elaboration on the classification, categorization, and calculation of reserves of mineral resources in the exploration field is filed to the Ministry of Energy and Mining of the Republic of Srpska.

Experience from the mining sector shows that for a mine to be open, the process lasts additional 15 years, and requires approximately 50 permits.

Lykos performs all its activities according to the laws and regulations of the Republic of Srpska, Bosnia and Herzegovina. As for allegations that activities of our company have caused environmental damage, there has not been a single environmental inciden t caused by geological exploration in the past.

To prove no environmental damage has been done, Lykos and its subsidiary Medeni Brijeg, following the regulations, have performed zero states of water and water flow, analyzing water samples in the accredited laboratories...

Furthermore, Lykos has been in constant communication with the landlords of the land parcels that are located within the planned exploration area and has obtained written consent from each, prior to any exploration activity.

Platforms and access roads aimed for geological exploration have been adjusted only after the consent has been signed...

The only exploration activity performed in the mentioned region of Sockovac was geological soil sampling, which by its nature does not include heavy machinery or drilling.

All results of the exploration works have been published on the Australian Stock Market...

The Municipal Assembly of Doboj has granted Lykos its approval in 2023. Since there has been a change of Law on geological exploration, our company hasn’t been performing geological exploration in Sockovac in the last two years period. Nevertheless, the me dia and so called activists keep publishing incorrect information about our activity.