Lake Resources NL Appoints Executive Chairman

Sydney, Australia (ABN Newswire) - Clean lithium developer Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) advises that as part of the transition to serve critical North American and Asian supply chains Chairman Stu Crow will be appointed executive chairman to oversee the transition for a period of six months.

"Lake's aspirational target is to reach capacity of 100,000 tpa by 2030 which will underpin Lake's ambition to become a leading global producer of sustainable high purity lithium" Mr Crow said.

"We are now establishing a North American presence to serve our off-take customers, continue to work with our US-based technology partner, and engage capital markets."

"We are aligning project delivery, extraction technology, and operations. We are interviewing candidates with exceptional experience for the CEO and Managing Director role, and also candidates for the board to reflect growth of the company in the US markets."

Lake Resources is now developing four lithium brine projects in Argentina and has more than 150 people working across all four lithium brine projects.

As part of this transition to North America current Managing Director Steve Promnitz will depart after establishing Lake's dominant position in Argentina.

Mr Crow said the company has one of the largest lithium lease holdings in Argentina amounting to more than 2,200km2 with the majority of leases owned 100%. Lilac Solutions has the right to earn up to 25% of the Kachi project upon achieving certain milestones.

"In this regard we are exceptionally grateful for Steve's pioneering efforts in project generation to establish Lake's presence in Argentina."

About Lake Resources NL:

Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising clean, direct extraction technology for the development of sustainable, high purity lithium from its flagship Kachi Project, as well as three other lithium brine projects in Argentina. The projects are in a prime location within the Lithium Triangle, where 40% of the world's lithium is produced at the lowest cost.

This method will enable Lake Resources to be an efficient, responsibly-sourced, environmentally friendly and cost competitive supplier of high-purity lithium, which is readily scalable, and in demand from Tier 1 electric vehicle makers and battery makers.

Source:
Lake Resources NL

Contact:
Steve Promnitz
Managing Director
T: +61-2-9188-7864
steve@lakeresources.com.au

For media queries, please contact:
Nigel Kassulke at Teneo
M: +61-407-904-874
E: Nigel.Kassulke@teneo.com