Anson Delivers 25% Increase in Lithium Grades in Drilling of Mississippian Units at Cane Creek 32-1 Well

Anson Resources Limited (ASX: ASN, ASNOC) (“Anson” or the “Company”) is pleased to announce results from its recently completed drilling of the Mississippian units at the Cane Creek 32-1 well at its Paradox Lithium Project (the Project) in Utah, USA, and that the results have returned lithium grades 25% higher than historical assay results from the Mississippian Units at Cane Creek.

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Highlights:

• Anson delivers assay results of 101ppm lithium and 3,294ppm bromine through the entire drilled zone in the Mississippian Units at Cane Creek 32-1 well at the Paradox Lithium Project
  
• Li grades 25% higher than previously reported historic results and confirm the massive, supersaturated brine aquifer in the Mississippian Units are lithium and bromine rich
• Average grade from the Eastern Strategy resource expansion drilling – Cane Creek and Long Canyon wells – is approximately 145ppm Li and 3,544ppm Br
• Grades in the Mississippian Units are similar to that of the Clastic Zones and indicate a possible connectivity between the Mississippian Units and Clastic Zones
• The brines are similar to those of the previously sampled Clastic Zones where an Indicated and Inferred JORC Resource has already been estimated
• Results from the resource expansion program at the Cane Creek well are expected to deliver a significant JORC Resource upgrade in the near-term
• Western Strategy to expand the resource in the western area of the project has also commenced and this is expected to deliver further Resource upgrade once complete

Nine samples were collected through the large aquifer within the 398 feet thick Mississippian units at Cane Creek, see Figure 1.

Assay values of 101ppm lithium and 3,294ppm bromine were returned from the entire drilled zone in the Mississippian Units. The results confirm that the massive, supersaturated brine aquifer in the Mississippian Units is lithium and bromine-rich.

In combination with the previously reported assay results from the Mississippian units drilled at the Long Canyon Unit 2 well, the Mississippian units at Cane Creek and Long Canyon have returned average grades of approximately 145ppm Li and 3,544ppm Br.

The results from Anson's Resource expansion drilling at Long Canyon formed the basis of the recent major Resource upgrade at Paradox (ASX announcement, 22 August 2022). The Cane Creek drilling was not included in this upgraded Resource, and will be included a new Resource upgrade in the near future.

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