Standard Lithium Signs MoU to Expand California Project With Permitted Brine Producer in Bristol Dry Lake, Adds Additional Project at Cadiz Dry Lake - Seite 2

Dr. Andy Robinson, President and COO of Standard Lithium said, "Three initial grab samples of brine from wells at Cadiz show lithium concentrations in pumped brine ranging between 112 to 139 mg/L.  These concentrations from relatively shallow wells suggests that there is a potentially significant lithium brine deposit present in the Cadiz Dry Lake basin.  Our technical team is currently performing due-diligence on all available data for the Cadiz Dry Lake basin and will be laying out a plan for new data collection over the coming months.  Additional investigation of  TETRA's properties in both Bristol Dry Lake and Cadiz Dry Lake will be performed concurrently with our existing resource definition program, and as such, we should be able to significantly expand our resource base as we move towards producing maiden lithium resource estimates for the Mojave projects."

Transaction Terms - Option Agreement

Under the terms of the MoU, the parties have agree to negotiate a definitive option agreement (the "Option Agreement") which will provide Standard Lithium with a period of six (6) years to conduct brine exploration activities (the "Option Period") on the Bristol Dry Lake Property and/or the Cadiz Dry Lake Property.  If during the Option Period, Standard Lithium elects to conduct exploration activities on both Properties, the Company will be required to make a series of cash payments and share issuances to TETRA which will be set forth in the Option Agreement.  Any such payments or share issuances will be adjusted in the event the Option Agreement includes only one of the Properties.

Lease Agreement & Royalty

In accordance with the terms of the MoU, at any time during the Option Period, Standard Lithium has the right to exercise the Option, following which the Company and TETRA would negotiate and enter into a lease granting Standard Lithium a period of thirty (30) years of commercial production of lithium from brine produced by the Properties and subject to an annual royalty on the gross revenue derived by Standard Lithium from the sale of lithium resulting from the brine produced from the Properties.

Definitive Documentation

Standard Lithium's right to conduct exploration activities on the Properties remains subject to the negotiation and finalization of a definitive Option Agreement.  Any share issuances contemplated by such an Option Agreement will be subject to the approval of the TSX Venture Exchange and would be subject to statutory restrictions on resale.