Lake Resources NL Quarterly Activities Report

Sydney, Australia (ABN Newswire) - Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) is providing a clean solution to the delivery of high quality lithium into the battery materials supply chain powering the energy transition. Lake uses disruptive, direct extraction technology (DLE) from its partner, Lilac Solutions Inc in California (Lilac), who is earning into the flagship Kachi Project, for efficient production of high purity lithium with significant ESG benefits. No mining is involved in the brine processing.

Production from the flagship Kachi Lithium Brine Project is targeted to commence in 2024 at a rate of 50,000 tpa lithium carbonate. Kachi is indicatively financed into production with long dated low-cost project finance from the UK Export Finance and Canada's EDC for approximately 70% of the total finance required for Kachi's development, subject to standard project finance terms (ASX release 11 Aug 2021).

Lake's development plan uses a cost-effective DLE method that enables Lake to come to market quickly at significant scale with strong ESG benefits, a low carbon (CO2) footprint, low water and low land use.

High purity battery quality lithium carbonate (99.97% purity) has been produced (ASX release 20 Oct 2020) from pilot plant modules, which performed successfully in NMC622-based lithium-ion battery test cells (ASX release 2 March)

Lilac Demonstration Plant Delivered to Kachi Project

Lilac's demonstration plant has been delivered from California USA to the Kachi Project by Lakes' technical partner, Lilac Solutions, after extensive and successful test work. The ion exchange modules and supporting equipment were assembled for the demonstration plant in five 40 ft (12m) shipping containers. The modular design allows for a "plug and play" approach once brine feed, power and reagents are connected.

The demonstration plant is currently being assembled prior to commissioning.

The demonstration plant will operate for around 3 to 4 months to produce lithium chloride (eluate) representing 2.5 tonnes of lithium carbonate. This will be converted into high purity battery quality lithium carbonate for potential offtakers and battery qualification later in the year. Producing high purity product on site further de-risks the project for offtakers, financiers and investors. Test work in California, USA continues to produce data for the Definitive Feasibility Study and product samples for testing.

Kachi Lithium Brine Project

Appointment of Joint Coordinators for Debt Finance

Citi and JPMorgan were appointed during the quarter as join coordinators for the proposed debt finance of the Kachi project following an extensive and competitive tender process.

The investment banks will coordinate workstreams between lenders and third-party analysis on major project milestones including due diligence, JORC compliant definitive feasibility study (DFS) and the Environmental Social Impact Assessment (ESIA).

Discussions have continued with the UK Export Finance (UKEF), the Export Credit Agency (ECA) of the United Kingdom, and Export Development Canada (EDC), who have previously provided indicative support for approximately 70% of the total finance required for Lake's Kachi project at the expanded rate of 50,000 tpa LCE, subject to standard project finance terms. Project finance terms include, among others, suitable structured offtake contracts, the successful completion of Kachi's Definitive Feasibility Study (DFS), and an Environmental and Social Impact Assessment (ESIA) to Equator Principles (ASX release 11 Aug 2021).

Drilling Continues at Kachi

Drilling continues at Kachi to reinforce prior lithium assay results extending beyond the limits of the current resource. Such drilling is aimed to support planned production targets for the Kachi Project (ASX release 15 Dec 2021). A four well diamond drill programme and an additional rotary drill programme is underway with the intention to upgrade the resource to a higher category and to expand it (ASX release 7 Jul 2021).

Cauchari, Olaroz and Paso Lithium Brine Projects

Jujuy Province, Argentina

Lake owns three lithium brine projects, Cauchari, Olaroz and Paso, over 47,000 hectares in Jujuy Province in north-west Argentina. Lake aims to bring forward development of these projects to ensure multi-asset lithium expansion by drilling and testing prior to anticipated additional feasibility studies.

A second drilling rig has arrived on site to supplement the drilling program that commenced in February.

Drilling is now advancing at both Olaroz and Paso projects. Assay results are expected to become available during 3Q.

The drill wells are designed as part of an accelerated program across all projects in the area to quantify brines identified, develop aquifers, and conduct pump tests with data for initial feasibility studies. Rotary wells will be followed by diamond holes. Brines will be sampled and tested with direct lithium extraction methods, similar to previous work conducted on Kachi project lithium brines.

Lake has previously confirmed multiple high-grade lithium brine zones in drilling in 2019 at the Cauchari Project (ASX release 23 Aug 2019). The higher-grade results averaged 493 mg/L lithium over 343m (from 117m to 460m), up to 540 mg/L, which are similar to lithium brines in the adjoining Ganfeng/Lithium Americas JV production development.

Cash Position and Finance

Lake held cash of A$175 million (US$120m) as at 30 June 2022 (in AUD, USD and Argentine Pesos) with no debt.

The Company is financed through to the Final Investment Decision (FID) and construction finance phase, including the Definitive Feasibility Study (DFS) for the Kachi project.

Payments to related parties of the entity and their associates:

Amounts paid to related parties of the entity and their associates during the quarter were $569,000. These amounts related to normal Directors fees including the salary of the former Managing Director, the fees for the Executive Technical Director for the Definitive Feasibility Study and fees for the Executive Chairman for ongoing marketing and fundraising activities.

*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/561A01RW

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

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Lake Resources NL Half Yearly Report and Accounts

Sydney, Australia (ABN Newswire) - Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) is transitioning from the evaluation and exploration phase to the next stage of development. Good progress was made during the period at the Demonstration Plant and the recent updates of the Kachi Mineral Resource Estimate.

With the ongoing recruitment of talented experts, the realignment and new focus of the organization and the enrichment of the Lake Board, Lake is well positioned to complete the development of Kachi, while pursuing the development of Cauchari, Olaroz and Paso.

Lake looks forward to continuing this progress towards the production of high-quality, sustainable lithium for its customers and delivering value to all stakeholders.

*To view the half yearly report, please visit:
https://abnnewswire.net/lnk/N4SEA297

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.

News Provided by ABN Newswire via QuoteMedia

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Lake Resources NL to Present at the 32nd BMO Critical Minerals Conference

Sydney, Australia (ABN Newswire) - Clean lithium developer Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) Chief Executive Officer David Dickson will be presenting at the sector leading BMO Metals, Mining & Critical Minerals Conference in Hollywood, Florida on February 28 at 9:15 a.m. ET.

A live webcast will be available at the time of the presentation in the Investor Relations section of the company's website. A replay will be accessible in the same location immediately following the conclusion of the live event for approximately 30 days.

Decarbonization in metals and mining, ESG, and the global economic recovery are key themes at the conference. More than 1,100 Industry leaders representing 500 organizations from 36 countries and six continents are participating.

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.

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Lake Resources NL Appoints Gentry Brann as Chief People and Admin Officer

Sydney, Australia (ABN Newswire) - Clean lithium developer Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) today announced the appointment of Gentry Brann as its first Chief People and Administration Officer, effective immediately.

Ms. Brann will lead the Company's Human Resources functions, as well as advancing diversity and inclusion as the company expands.

"I am delighted to have Gentry join as our first Chief People and Administration Officer, which is a crucial role as Lake scales our organization globally and broadens the capabilities of the management team" Lake Resources Managing Director and CEO David Dickson said.

"Lake is immensely proud of the talent we have attracted in a variety of fields to support our lithium production projects, and Gentry will be instrumental in ensuring we have a strong talent development focus and a company culture that supports the delivery of our growth and mission."

Ms. Brann has over 25 years of experience leading HR and Communications functions.

Ms. Brann joins Lake from McDermott, where she led the company's strategic focus on inclusion and diversity, as well as human resources, communications and marketing, real estate and facilities, and global travel.

Ms. Brann joined McDermott from CB&I in 2018, where she served as Senior Vice President of Communications and Brand Management. Prior to CB&I's acquisition of The Shaw Group, she served as Vice President of Investor Relations and Corporate Communications for Shaw. Ms. Brann also held various roles at ICF International, ALSAC/St. Jude Children's Research Hospital and Archer Malmo Advertising and Public Relations Agency.

Ms. Brann holds an MBA from Duke University's Fuqua School of Business and a bachelor's degree from Louisiana State University. She is also a graduate of the Advanced Leadership Program at Rice University's Jones School of Business.

Ms. Brann's appointment adds to other key appointments, including Howard Atkins, Cheemin BoLinn and Ana Gomez Chapman to the board, and, most recently, Amalia Saenz as Vice President, Argentina Corporate Affairs.

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.

News Provided by ABN Newswire via QuoteMedia

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Lake Resources NL Appointment Sra. A Saenz to Lead Argentina Corporate Affairs

Sydney, Australia (ABN Newswire) - Clean lithium developer Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) today announced the appointment of Sra. Amalia Saenz as Vice President, Argentina Corporate Affairs.

Sra. Saenz is stepping down from Lake's board of directors, effective February 1, 2023, to lead Lake's government relations team, oversee corporate social responsibility programs, and steer community and stakeholder engagement in Argentina.

"I am thrilled to welcome Amalia to this critical executive role as the company advances its work in Argentina," Lake Resources Managing Director and CEO David Dickson said.

"Amalia's expertise has been invaluable to Lake in her capacity on our board, and this newly created position will enable us to further benefit from her extensive professional experience and in-country relationships as we continue our projects in Argentina to meet rising global demand for high-quality lithium."

Sra. Saenz has been a non-executive director on Lake Resources' board since July 2021. She joins the company from law firm Zang, Bergel & Vines in Buenos Aires, where she led the firm's energy and natural resources practice.

Sra. Saenz has more than 30 years of experience in energy and resources advising multinational companies. Her practice covered the full scope of natural resources, including mining, energy and oil and gas for merger and acquisition, financing, joint venture and operating agreements in Argentina.

She previously was a partner at Brons and Salas, a law firm in Buenes Aires where she led the Oil and Gas and Energy Practice. Ms. Saenz has worked in Central Asia, Turkmenistan, and the United Kingdom in exploration and production development across international borders and cultures.

Sra. Saenz was an active member of the Association of International Petroleum Negotiators (currently Association of International Energy Negotiators) serving as Regional Director, representing the Latin American Chapter.

Sra. Saenz's appointment follows several recent additions to Lake Resources' board and operating teams. Earlier this month the Lake Board strengthened governance and oversight as Howard Atkins, Cheemin Bo-Linn and Ana Gomez Chapman joined, bringing additional expertise in strategy, operations, financing, and ESG.

The Operating Team also has been expanded and reorganized to better align with the technical needs of Kachi Project development. Lake has expanded the company's technical, procurement, project, hydrogeology, drilling and engineering expertise to better position the company as it moves into the development stage of the Kachi expanded project and ongoing exploration of the Cauchari, Olaroz and Paso projects.

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.

News Provided by ABN Newswire via QuoteMedia

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Lake Resources NL Quarterly Activities Report

Sydney, Australia (ABN Newswire) - Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) is providing a clean solution to the delivery of high quality lithium into the battery materials supply chain powering the energy transition. Lake uses disruptive, ion exchange extraction technology, from Lilac Solutions Inc in California (Lilac), who is earning into the flagship Kachi Project, for efficient production of high purity lithium with significant ESG benefits. No mining is involved in the brine processing.

Lake is transitioning from the evaluation and exploration phase to the next stage of development. Good progress was made during the quarter at the Demonstration Plant and the recent updates of the Kachi Mineral Resource Estimate.

With the ongoing recruitment of talented experts, the realignment and new focus of the organization and the enrichment of the Lake Board, Lake is well positioned to complete the development of Kachi, while pursuing the development of Cauchari, Olaroz and Paso.

Lake looks forward to continuing this progress towards the production of high-quality, sustainable lithium for its customers and delivering value to all stakeholders.

Key Highlights

Strengthened the Lake Resources Executive team, with the appointments of: Scott Munro appointed as Senior Vice President of Technology, Strategy and Risk; Karen Greene was appointed as Senior Vice President of Investor Relations and Communications and John Freeman as Chief Legal Officer and General Counsel.

Added sector-leading industry, capital markets and governance expertise to the Board in recent months with the appointment of three new U.S.- based board members. The additions of Howard Atkins, Cheemin Bo-Linn and Ana Gomez Chapman, bring strong pillars of strategic, operational, financial, and ESG oversight.

Offtake and Strategic Investment Conditional Framework Agreements were signed with WMC Energy and SK On for up to 50,000 tpa lithium carbonate from Kachi project. Conversations with these parties are ongoing.

After an extensive drilling program Lake reported to the ASX a 100 percent increase in the mineral resource estimate of Kachi, to 2.2 million tonnes of lithium carbonate equivalent of Measured and Indicated, and 3.1 million tonnes of Inferred resources.

Lilac Solutions successfully operated the Demonstration Plant for 1,000 consecutive hours and produced 40,000 litres of lithium chloride eluate before December 31, 2022, meeting all key testing milestones in accordance with the agreed timeline.

Definitive Feasibility Study (DFS) and Environmental Social Impact Assessment (ESIA) studies continue with demonstration plant validation required prior to completion of the DFS. Completion of DFS is expected in mid-2023.

Lake is well funded with a cash balance of $A133 million and no debt at 31 December 2022.

*To view the full quarterly report, please visit:
https://abnnewswire.net/lnk/GC7D0I6T

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.

News Provided by ABN Newswire via QuoteMedia

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Juniper Networks Announces Date of First Quarter Preliminary Financial Results Conference Call

Juniper Networks (NYSE: JNPR), a leader in secure, AI-driven networks, today announced it will release preliminary financial results for the quarter ended March 31, 2023 on Tuesday, April 25, 2023 after the close of the market. The Company's senior management will host a conference call that day at 2:00 pm PT.

Commentary by Ken Miller, chief financial officer, reviewing the Company's first quarter financial results, as well as the second quarter 2023 financial outlook, will be published on the Company's website at http://investor.juniper.net . Analysts and investors are encouraged to review this commentary prior to participating in the conference call.

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Marvel Commences Final Study Required Prior to Initiating Human Trials

Marvel Biosciences Corp. (TSXV: MRVL) and its wholly owned subsidiary, Marvel Biotechnology Inc. (collectively the "Company" or "Marvel"), is pleased to announce that it has initiated the 4-week good laboratory practice (GLP) FDA investigational new drug (IND) enabling dose-ranging dog studies for its lead drug candidate MB-204.

"This dog study is the last of the two key primary animal studies we need to complete before entering phase 1 human clinical testing of our lead asset - MB-204," said Dr. Mark Williams, Chief Science Officer of Marvel Biosciences. "We are now planning our Phase 1 human trials, likely to be conducted in Australia upon the successful conclusion of this study and the previously commenced 4-week rat GLP study."

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Montfort Capital Reports Strong Preliminary Unaudited Results Within Consumer Lending Segment for FY2022

Montfort Capital Corp. ("Montfort" or the "Company") (TSXV: MONT) (OTCQB: MONTF) a leading alternative lender utilizing focused strategies, experienced management teams and advanced technology, is pleased to report selected preliminary unaudited results related to its consumer lending segment, which alone has established a significant investment base of over $365 million in Assets Under Management and Administration ("AUMA") as at December 31, 2022 . For comparison, as at December 31, 2021 the Company had $nil AUMA in its consumer lending segment and $125 million in Total Assets. This consumer lending business' growth was driven exponentially through the acquisitions of Brightpath Capital Corporation ("Brightpath") in August 2022 and 78% of Langhaus Financial Partners Inc. ("Langhaus") in October 2022 .

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Montfort Capital Announces Quarterly Cash Dividend on Series A Class A Preferred Shares

Monfort to pay cash dividend payment to Series A Class A Preferred Shareholders of record on March 24th

Montfort Capital Corp. ("Montfort" or the "Company") (TSXV: MONT) (OTCQB: MONTF), a leading alternative lender utilizing focused strategies, experienced management teams and advanced technology, today announced that the Company's board of directors has declared a quarterly cash dividend (the "Quarterly Dividend") of $0.02 per Series A Class A Preferred Shares (each, a "Preferred Shares"), payable on March 31, 2023 to holders of Preferred Shares of record as at March 24, 2023 . The Quarterly Dividend qualifies as an 'eligible dividend' for Canadian income tax purposes.

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Three months Dec 31, 2022					Three months Dec 31, 2021			Year ended Dec 31, 2022			Year ended Dec 31, 2021
Revenue	$	8,734,471		$	5,730,978		$	26,892,249		$	18,732,335
Gross margin	$	4,157,875	48%	$	2,120,460	37%	$	10,879,928	40%	$	6,631,818		35%
Adjusted gross margin⁽¹⁾⁽²⁾	$	4,157,875	48%	$	2,091,874	37%	$	10,879,928	40%	$	4,982,731		27%
Adjusted EBITDA⁽¹⁾⁽²⁾	$	3,283,612	37%	$	1,547,549	27%	$	8,149,223	30%	$	2,962,020		16%
Net income (loss) and comprehensive income (loss)	$	1,788,428		$	126,582		$	2,275,495		$	(2,375,818	)
Income (loss) per share – Basic and diluted	$	0.03		$	0.00		$	0.05		$	(0.05	)

Lake Resources NL Quarterly Activities Report

Overview

Company Highlights

Key Projects

Kachi Lithium Brine Project

Direct extraction Demonstration plant

Pre-feasibility Study

Upcoming Milestones:

Cauchari-Olaroz-Paso Lithium Brine Projects

Exploration

Management Team

David Dickson - CEO and Managing Director

Stuart Crow - Non-executive Chairman

Dr. Robert Trzebski - Non-executive Director

Amalia Sáenz - Vice-president, Argentina Corporate Affairs

Karen Greene – Senior Vice President of Investor Relations and Communications

Scott Munro - Senior Vice-president, Technology, Strategy and Risk

Peter Neilsen - Chief Financial Officer

John Freeman - Chief Legal Officer and General Counsel

Gentry Brann - Chief People and Administration Officer

Mark Anning - Head of Legal, Australia, and Company Secretary

Sean Miller - Corporate Development Officer

Howard Atkins - Non-executive Director

Dr. Cheemin Bo-Linn - Non-executive Director

Ana Gomez Chapman - Non-executive Director

Latest Press Releases

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