Anson Stakes Major New Strategic Lithium Brine Project in Paradox Basin in Utah

Anson Resources Limited (ASX: ASN, ASNOC) (Anson or the Company) is pleased to announce that it has staked a significant, new lithium brine project, the Green River Lithium Project (Project), in the Paradox Basin in Utah, USA.

Highlights:

• Anson has pegged the Green River Lithium Project in Utah, USA – new Project represents a significant, strategic addition to its US lithium-brine asset portfolio
• The project consists of 1,251 placer claims over an area of 10,620 hectares (106.2 km²) and is located just 50km from Anson’s flagship Paradox Lithium Project
• Anson plans to leverage its experience and expertise in the region to fast-track exploration and Mineral Resource delineation at Green River
• Historical drilling at Green River has confirmed similar geology and features to the Paradox Project including porosity, pressure, depth, and structures;
• Previous drilling has identified brine in Clastic 31 and the Mississippian Units that contain supersaturated brine
• Anson will deploy the same highly successful strategy used at the Paradox Project 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
• Major infrastructure and utilities – road, rail, power and water – already in place in the project area
• Surveys underway ahead of a planned Resource drilling program in the near future, on receipt of requisite approvals - results expected to further increase Anson’s global JORC Resource in Utah

The Project represents a strategic addition to Anson’s North American lithium asset portfolio, and hosts geological, metallurgical and structural similarities with Paradox. The Company plans to leverage its knowledge-base and learnings in the region to fast-track exploration and Mineral Resource delineation, and then development and production at the Project.

Subject to exploration successes, the Project is expected to further increase Anson’s “global” JORC Resource in the USA and support future increases in lithium production and other minerals from the Company’s proposed lithium producing operation.

The Project already has major infrastructure in place, including proximity to major road and rail networks, and power. The Project is located close to Paradox, providing access to water requirements (see ASX announcement 23 January 2023).

Anson plans to adopt a similar exploration strategy at the Project as it successfully utilised at Paradox; to re-enter existing oil wells to define lithium brine resources.

It is currently carrying out environmental, archaeological and land surveys for a Notice of Intent (NOI) to re-enter three oil wells in the new project area for submission to the USA, Department of Interior Bureau of Land Management (BLM). Due to previous drilling, the pad locations are already level and will require very little earthworks to re-establish the drill pad area.

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