Lake Resources NL Investor Webinar Invitation

Sydney, Australia (ABN Newswire) - Responsible lithium developer Lake Resources (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) announces that two company executives will be speaking at the Fastmarkets European Battery Raw Materials conference in Amsterdam on 18-20 September, 2023. The conference will provide access to insights and analysis of the battery raw materials market from numerous leaders and innovators across the industry.

On Tuesday, September 19, Scott Munro, Senior Vice President of Technology, Strategy, and Risk for Lake, will participate in a panel discussion on direct lithium extraction and its potential impact on lithium production.

David Dickson, Managing Director and Chief Executive Officer at Lake will share his perspectives on "Mining Meets Oil and Gas: Bringing Lessons Learned to Lithium Production", on Wednesday, 20 September. He will be speaking on the highly transferrable skills of the oil and gas industry to lithium production, and the importance of collaboration across industries and governments to drive the fulfilment of future lithium supply requirements, and ultimately, long term sustainability.

Details of the conference, including agenda and speakers, can be found here:
https://www.abnnewswire.net/lnk/E876I78V

About Lake Resources NL:

Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising state-of-the-art ion exchange extraction technology for production of sustainable, high purity lithium from its flagship Kachi Project in Catamarca Province within the Lithium Triangle in Argentina among three other projects covering 220,000 ha.

This ion exchange extraction technology delivers a solution for two rising demands - high purity battery materials to avoid performance issues, and more sustainable, responsibly sourced materials with low carbon footprint and significant ESG benefits.

Source:
Lake Resources NL

Sydney, Australia (ABN Newswire) - Clean lithium developer Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) confirms that it is on track to complete the Definitive Feasibility Study (DFS) for its flagship Kachi project ("Kachi") by December 2023, as previously announced.

"We have drilled deeper for better grades and improved our drilling performance by 40 percent this year," Lake CEO David Dickson said.

"Grades from recent extraction tests are 20 percent higher than exploration samples and we can expect further JORC updates prior to submitting the DFS."

Dickson said the process plant had been relocated closer to the resource extraction area.

The revised plant Plot Plan has been drafted, for this new location, with a model review now scheduled.

He said Lake had now demonstrated the viability of extraction and injection in its core resource area.

In the attached ASX presentation and in an investor webinar today Lake also gives details on the power solution for the project. The base case for the project includes an off-grid solution for train 1 commissioning and start-up with connection to the grid for full Phase 1 capacity. Lake continues to review alternatives including a full off-grid solution for Phase 1 built around solar and battery storage with technical reviews ongoing at this time.

"We have revised our design to include capability for off-grid commissioning and early production of Lithium Carbonate," Dickson said.

"We are pleased to now have the optionality for a power solution, and we are also considering aspects of grid connection and the needs of local communities."

Mr. Dickson said he had visited Argentina recently and had productive meetings with mining regulators and federal, state, and local governments.

"We continue working with United States and Argentina authorities on strengthening the lithium supply chain."

He said he was also having regular updates with Export Credit Agencies in the United Kingdom and Canada and with offtake partners while working with strategic advisors on capital management.

The webinar can be accessed here:
https://app.webinar.net/nm8qZ6bZbda

*To view the webinar presentation, please visit:
https://abnnewswire.net/lnk/8208707F

About Lake Resources NL:

Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising state-of-the-art ion exchange extraction technology for production of sustainable, high purity lithium from its flagship Kachi Project in Catamarca Province within the Lithium Triangle in Argentina among three other projects covering 220,000 ha.

This ion exchange extraction technology delivers a solution for two rising demands - high purity battery materials to avoid performance issues, and more sustainable, responsibly sourced materials with low carbon footprint and significant ESG benefits.

Source:
Lake Resources NL

Sydney, Australia (ABN Newswire) - Clean lithium developer Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) reports that deeper drilling at the Kachi lithium brine Project ("Kachi" or the "Project") in Catamarca Province, Argentina indicates significantly larger horizontal and vertical extents of the lithium-bearing brine than previously understood.

In Lake's resource update on June 15, 2023, the Company reported that future drilling was targeting additional step out holes and exploring the deeper resource beyond 400 metres below ground surface. This update provides highlights from drillhole K23D40 which is the first hole at the Project drilled beyond 430 metres below ground surface to a total depth of 610 metres below ground surface.

The data from this drillhole will be used to support planned resource updates and the hydrogeologic models being developed to simulate the extraction and injection wellfields as part of the Project's Definitive Feasibility Study (DFS) for Phase 1.

"The latest drilling intercept results indicate that this resource is much larger than initially anticipated as the known lithium brine extent continues to expand laterally and vertically," commented Michael Gabora, Director of Geology and Hydrogeology of Lake Resources.

"The K23D40 hole represents the first time Lake has drilled significantly beyond 400 metres to over 600 metres.

Even more exciting is that average lithium grades in all brine samples collected between 400 and 600 metres are above 209 mg/L, proving that the brine extends at depth to over 600 metres at K23. This has big implications for what may be present in the central resource area at these depths."

Lake CEO David Dickson commented, "In drilling 180 metres deeper than we have before, we are excited to find lithium-bearing brine the whole way down, increasing the extent of known brine in the vertical dimension by 30%."

"These findings could have a major impact on the resource if it is also present at these depths in the remainder of the brine footprint. This work will contribute to further resource updates, which we expect to provide in September, in support of the completion of our Phase 1 DFS."

The Kachi Project has shown continual increases in mineral resource estimates since the maiden estimate of 4.4 Mt of contained battery grade Lithium Carbonate Equivalent (LCE) in Inferred and Indicated categories was announced in November 2018. The resource was significantly upgraded in January 2023 with a Measured and Indicated resource of 2.2 Mt of LCE and approximately 3.1 Mt of LCE of Inferred mineral resources. The total resource was again increased in June of 2023 with more than 2.9 Mt LCE in Measured and Indicated and approximately 5.3 Mt of LCE in the Inferred category for a total resource estimate of more than 8.1 Mt of LCE. As reported in the the Company's June 15, 2023 ASX announcement, the lithium grade of the Measured Resource (0-400 metres) across the salar is 210 mg/L lithium, the Indicated Resource immediately south-east is 174 mg/L lithium, and the surrounding Inferred Resource (0-400m) has a concentration of 199 mg/L lithium.

Recent extraction and injection testing has built on the existing knowledge around the large lithium brine resource and demonstrated that the reservoir in the resource area is permeable and that productive wells can be drilled and constructed. The additional drilling and testing results from K23D40 provided in this announcement demonstrate that the resource is present significantly further west and north of the core resource area and extends to more than 600 metres, which is significantly deeper than previously defined.

Step out hole K23D40 (K23 Platform), drilled about 3.5 kilometres northwest of K22D39 (K22 Platform; Figure 1*), has an average lithium grade of 232 mg/L from twelve (12) samples collected between 288 and 610 meters below ground surface. All samples were collected with single packer configurations generally with a test interval of about 10 metres, although this varied depending on hole conditions. Standard operating procedures are followed with significant development of the test interval, at least 3 borehole volumes (measured from surface to hole bottom), and sampling only occurs once brine is clear and field chemistry parameters are stable and indicative of reservoir fluids.

A standpipe piezometer was installed and screened between 372 to 384 metres below ground surface and was developed and sampled via air-lifting and a measured lithium concentration of 224 mg/L (Alex Stewart Laboratory, Jujuy, Argentina), which is consistent with the packer test sample from 360 metres to 390 metres below ground surface which measured 230 mg/L (Table 1*).

Multiple exploration targets for injection of spent brine, locations north and south of the Project (K21, K22, and K23; Figure 1*), have all encountered lithium-bearing brine above 200 mg/L. The results for K21 and K22 have been reported previously by Lake Resources with average lithium grades of 219 and 283 mg/L lithium, respectively. Results from K23, approximately 3.5 km northwest of K22, indicate that brine is also present beneath the present-day surface expression of the alluvial fan west of the salar (Table 1, Figure 1*). Results reaffirm Lake's conceptual model of the presence of lithium brine within the alluvial fan deposits west of the central resource area. A highlight from the results is that the lithium brine occurs within coarser grained materials such as gravelly sands, sandy gravels, and clean sands (Figure 2 and Figure 3*).

As a result of the significant spatial expansion of the known lithium-bearing brine intercepted to both the north and south of the central resource area, additional exploration drilling and testing for suitable injection locations will be necessary. As injection targets are located further outside the central resource area, coarser-grained, more permeable sediments have been encountered (e.g. K22 and K23). Permeable coarse-grained stratigraphy would provide conditions even more favorable for injection than that demonstrated with the positive results from the injection trials at KB and KC (see Lake's 16 August 2023 ASX announcement - Lake Resources Completes Intermediate Milestone to Achieve DFS with Successful Extraction and Injection Tests at its Flagship Kachi Project). Results from K23D40 confirm that the basin consists of coarse-grained sediments west and northwest of the central resource area.

Additional infill drilling in the southern region of the Project area is ongoing at K24D41 (K24 Platform) and K25D42 (K25 Platform) (Figure 1*). The objective of drilling and testing at these locations is to improve understanding of the hydrogeologic system in addition to collecting brine samples, which could potentially allow for the upgrade of resource areas from inferred to indicated and indicated to measured, subject to additional testing (Figure 1 and Table 2*).

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/9U3297CH

About Lake Resources NL:

Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising state-of-the-art ion exchange extraction technology for production of sustainable, high purity lithium from its flagship Kachi Project in Catamarca Province within the Lithium Triangle in Argentina among three other projects covering 220,000 ha.

This ion exchange extraction technology delivers a solution for two rising demands - high purity battery materials to avoid performance issues, and more sustainable, responsibly sourced materials with low carbon footprint and significant ESG benefits.

Source:
Lake Resources NL

Sydney, Australia (ABN Newswire) - Clean lithium developer Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) announces successful testing that has proved the concept of extraction and injection to support the production of high purity battery grade lithium carbonate at the Kachi lithium brine Project ("Kachi" or the "Project") in Catamarca Province, Argentina.

"The extraction and injection testing confirms highly favourable reservoir hydraulic properties and allows us to optimise the future wellfield," Lake CEO David Dickson said.

"The tests represent a significant milestone for the Project, as they provide important data and higher confidence for our modelling, which is essential for the completion of our DFS for Phase 1.

The results are indicative of high-yield, production-scale, extraction wells in the core resource area." "Partners, offtakers and future buyers will demand sustainable lithium supply and Kachi is essential to meet this need."

Lake last updated its resource with a 53 percent increase in resources at Kachi with Measured, Indicated and Inferred increasing from 5.29 Million Tons (Mt) to more than 8.1 Mt Lithium Carbonate Equivalent (LCE). The mineral resources last reported on June 15, 2023 have not materially changed since that date.

Michael Gabora, Director of Geology and Hydrogeology for Lake Resources, said "the injection tests demonstrated the suitability of the reservoir for injection and bulk brine samples indicated that exploration sampling results were conservative."

"The positive results of this testing now allow for design of scaled up production and injection wells for the next stage of testing and production wellfield design".

The Kachi Project has shown continual increases in mineral resource estimates since the maiden estimate of 4.4 Mt of contained LCE in Inferred and Indicated categories was announced in November 20182 . The resource was significantly upgraded in January 2023 with a Measured and Indicated resource of 2.2 Mt and 3.1 Mt of Inferred mineral resources. The total resource was again increased in June of 2023 with more than 2.9 Mt LCE in Measured and Indicated and 5.3 Mt in the Inferred category for a total resource estimate of more than 8.1 Mt . The testing detailed in this announcement provides positive results related to the recoverability of these extensive lithium brine resources.

Completion of high-volume tests

The primary objectives of the extraction and injection tests were three-fold:

1) quantify hydraulic properties of the reservoir controlling well production / injection rates;

2) test the viability of injecting into the core resource area reservoir; and,

3) develop a robust dataset to support hydrogeologic modelling that will be used for wellfield design and reserve estimation.

Pumping and re-injection tests have successfully been completed in two test wells, KB and KC, located in the central portion of the resource area (Figure 1*). These pumping tests provide key data for hydrogeological models which are used to model the extraction and injection wellfields for the commercial operation.

The KB and KC pumping tests resulted in high transmissivity (the hydraulic conductivity x reservoir thickness) estimates of 145 m2/d and 156 m2/d, respectively.

These transmissivities extrapolate to high projected flow rates in larger diameter production scale wells, with longer intervals of screens, through which brine can be extracted, or in different locations where spent brine can be injected outside the production area.

Brine extracted from KC was injected into KB. The pumping extraction and reinjection order was then reversed, as this minimised requirements for tanks and brine storage at surface when pumping from the extraction to injection wells (Figure 1*). Minimal interaction was interpreted in the subsurface at the wells from the pumping and reinjection (i.e., minimal well interference) during the test periods.

Testing resulted in more than 14-million litres injected at KC and over 19 million litres injected at KB for a total of over 33 million litres of water successfully injected during the testing period.

The successful injection demonstrates the viability of injection in the core resource area and confidence that injection is also possible in geologically more favourable areas outside of the salar core.

The tests represent the first successful salar injection test in Catamarca known to the Company.

The data collected during these tests are being used in the development of the hydrogeologic model that will be applied to simulate and optimise the extraction and injection wellfields.

Of the twenty-five samples collected from the two test wells, the average lithium concentration was 263 milligrams per litre (mg/L).

Extraction testing indicates the reservoir is highly productive.

Injecting into the core resource area provided a mechanism to evaluate brine disposal, utilising the same wells from which brine pumping tests were conducted. This provided a cost-effective way of defining hydraulic parameters related to both pumping extraction and injection and also allowed Lake to prove out the concepts around injection and provided additional data for ongoing technical design.

Subsequent injection testing will be undertaken in the primary areas targeted for injection, south of the core resource area.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/OZS702JQ

About Lake Resources NL:

Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising state-of-the-art ion exchange extraction technology for production of sustainable, high purity lithium from its flagship Kachi Project in Catamarca Province within the Lithium Triangle in Argentina among three other projects covering 220,000 ha.

This ion exchange extraction technology delivers a solution for two rising demands - high purity battery materials to avoid performance issues, and more sustainable, responsibly sourced materials with low carbon footprint and significant ESG benefits.

Source:
Lake Resources NL

Sydney, Australia (ABN Newswire) - Following the quarterly report, a Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) Investor webinar will be held on 23 August 2023.

The briefing will commence at 11.00am AEST following the release of presentation material to the ASX.

The webinar will be hosted by CEO, David Dickson, Senior Vice President Field Development & Evaluation, Sean MiIler, and Senior Vice President Technology, Strategy & Risk, Scott Munro. They will be speaking on the drilling program and resources and reserves at the Kachi Project, along with other updates since the company's last webinar on 19 June 2023.

Investors are encouraged to register ahead of the event, please visit:
https://www.abnnewswire.net/lnk/271K939D

Investors are also encouraged to submit questions in advance of the webinar, either directly on the registration form or to Karen Greene, Senior Vice President of Investor Relations and Communications.

About Lake Resources NL:

Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising state-of-the-art ion exchange extraction technology for production of sustainable, high purity lithium from its flagship Kachi Project in Catamarca Province within the Lithium Triangle in Argentina among three other projects covering 220,000 ha.

This ion exchange extraction technology delivers a solution for two rising demands - high purity battery materials to avoid performance issues, and more sustainable, responsibly sourced materials with low carbon footprint and significant ESG benefits.

Source:
Lake Resources NL