Anson Resources Signs Lithium Supply Agreement with LG Energy Solution - Seite 2

The Paradox Basin is a globally significant lithium asset, on which the Company is conducting exploration and test work of the brine known to exist across multiple zones in the Paradox Basin. This work is on-going and if successful will support the Company's theory that the Paradox Basin contains one of the largest lithium resources in North America.

Based on a definitive feasibility study (DFS) announced on September 8, 2022, phase one of the Company's Project is forecast to produce 10,000 tonnes per year of battery-grade lithium carbonate. The Project also has world-class ESG credentials, thanks in part to the natural overpressure of the brine, meaning it is pushed to the surface without the need to pump.

Further, the Company employs the use of cutting-edge lithium extraction technology which use a fraction of the water needed for traditional hard rock or evaporation extraction methods.

Anson Resources CEO Bruce Richardson commented:

"Anson has recognized the unstoppable paradigm shift in the expanding US supply chain for electric vehicle battery materials, and the key role that Korean and Japanese battery manufacturers are playing*. The Inflation Reduction Act (IRA) along with other US policy initiatives have resulted in significant investment in new battery manufacturing capacity in North America to meet growth in demand for electric vehicles and the continued momentum toward the electrification of the economy in the US. This shift in investment has led to an increased demand for lithium produced in the US, not only to shorten supply chains geographically but also increase US content in li-ion batteries and electric vehicles, to meet IRA incentive requirements. Anson's assets in the Paradox Basin in southern Utah are strategically positioned to benefit from these momentous trends. We are delighted to have reached agreement with LG Energy Solution allowing us to execute our first binding offtake term sheet for at least 40% of our production. This establishes the foundation for a long-term partnership and we are proud that we will be supplying US made lithium from the Paradox Basin to LG Energy Solution, a respected global leader in the lithium battery value chain, building out the largest battery manufacturing capacity in the US."