Positive Federal State from Site Inspection of Western Strategy Drill Sites

Anson Resources Limited (ASX: ASN, ASNOC, ASNOD) (Anson or the Company) is pleased to announce that it has received positive approval from a site works inspection of the drill locations from the federal and state government departments in preparation for its Western Strategy Mineral Resource drilling program at the Paradox Lithium Project (Project) in south-eastern Utah, USA, see Figure 1.

Highlights:

• Federal and State Departments conduct positive site inspection of both Western Strategy drill sites at Paradox Lithium Project in Utah, USA
• Earthworks program underway to re-instate drill pads ahead of commencement of Western Strategy Resource expansion drilling at the Project
• Western Expansion drilling designed to increase the existing lithium JORC Mineral Resource at Project

Figure 1: Federal and State personnel inspect the re-instatement works on the Mineral Canyon pad.

Anson and USA, Department of the Interior, Bureau of Land Management (BLM) personal, plus representatives of the Utah State Division of Oil, Gas and Mining (UDOGM) have visited both drill sites for its Western Strategy drilling program; the Mineral Canyon well and Sunburst well (Figure 1).

The site inspection identified that the well locations are clearly marked and that the drill pads required for the re-entry program can be readily re-established (ASX announcement, 5 October 2022).

Factors covered by UDOGM in site their inspection included.

• Public safety: temporary fencing installed.
• Drainage protection.
• Deleterious material: none on site.
• Road maintenance: access road to be established.
• Topsoil stockpiled: topsoil stockpiled on western side of drill pad for future reclamation; and
• Permits and bonds.

The above factors were all evaluated, and no issues were identified during the visit.

Background to Western Strategy Resource Expansion Drilling

Anson plans to re-enter two wells in the Western Strategy drilling; the Mineral Canyon well and Sunburst well.

The program is designed to sample the thick Mississippian units and the Pennsylvanian clastic horizons, to further increase the Project’s existing JORC Mineral Resource of; 1.04Mt of Lithium Carbonate Equivalent (LCE) and 5.27Mt of Bromine (ASX announcement, 2 November 2022).

This program forms part of Anson’s wider Mineral Resource expansion strategy in the Paradox Basin, where drilling is also planned to commence at the Green River Lithium Project, located 50 kilometres to the north-west (ASX announcement, 13 March 2023).

The Western Strategy drilling at the Project will aim to increase the existing JORC Mineral Resource estimate, both vertically and horizontally. This drilling is expected to generate a large amount of additional data that will be utilised to upgrade the Mineral Resource.

It is anticipated that the assay results and flow testing of the brines will result in the areas surrounding the wells being included in an upgraded JORC Mineral Resource at the Project.

ESG Focus

The Western Strategy drill program is designed to have as little impact on the environment, social and recreational activities as possible within the drill location areas. There will be minimal new ground disturbance as the drill pads are already established and are just required to be re-instated, not excavated from scratch.

The use of areas where there has already been ground disturbance is consistent with Anson’s aim of developing a sustainable project and minimising environmental impact.

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