Anson Resources December 2022 Quarterly Activities Report

Diversified minerals development company Anson Resources Limited (ASX: ASN) (Anson, the Company) is pleased to provide the following update on its activities for the period ended 31 December 2022.

• Major Mineral Resource upgrade confirmed at Paradox Lithium Project;
  • 1,037,900t of Lithium Carbonate Equivalent (LCE) and 5.27Mt of Bromine, including;
    • Indicated Resource of 346,109t of LCE and 1.84Mt of Bromine; and
    • Inferred Resource of 691,800t of LCE and 3.43Mt of Bromine
• A new Exploration Target for the Mississippian supersaturated brines solely for the Western Expansion Strategy consists of 2.10Bt – 2.56Bt of brine grading 108 – 200ppm Li and 2,000 – 3,000ppm Br.

The Exploration Target figure is conceptual in nature as there has been insufficient exploration undertaken on the Project to define a mineral resource for the Mississippian Units. It is uncertain that future exploration will result in a mineral resource

 
• 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.
• Approval for re-entry of the Mineral Canyon Fed 1-3 and Sunburst 1 wells granted by the USA, Department of Interior Bureau of Land Management (BLM). Approval allows Anson to commence its Western Strategy Resource expansion program at the Paradox Lithium Project.

Green River Lithium Project

• Anson staked the new Green River Lithium Project comprising a total of 1,251 placer claims for an area of 10,620 hectares at Green River, Utah. Green River Lithium Project is located just 50 kilometres northwest of the Company’s flagship Paradox Lithium Project (Paradox), with similar geology as the Paradox.
• Anson will deploy the same highly successful strategy used at Paradox to time-and-cost effectively define new lithium-brine JORC Resources at Green River via re-entering existing oil wells to define new lithium-brine resources

Yellow Cat Uranium Vanadium Project

• Anson included in the Global X Uranium ETF (NYSE:URA), the largest Exchange Trade Fund (STF) in the uranium and nuclear industry with net assets of approximately USD1.716 billion as of 25 January 2023.

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