Anson Targets New Zones in Resource Expansion Drilling at Paradox Lithium Project

Anson Resources Limited (ASX: ASN, ASNOC, ASNOD) (Anson or the Company) is pleased to announce that it has successfully drilled additional new zones at the priority Cane Creek 32-1 well in its ongoing Resource expansion drilling program at its Paradox Lithium Project in Utah, USA (the Project).

Highlights:

• Anson has targeted four additional Clastic Zones at the priority Cane Creek 32-1 well in its ongoing Resource expansion drilling program at the Paradox Lithium Project
• The zones sampled contain supersaturated brines similar to the previously sampled Clastic Zones where a JORC Indicated and Inferred Resource has been confirmed
• Samples have been sent for quick turn-around laboratory analysis
• Results from the sampling of these additional Clastic Zones are to be included in future JORC Resource upgrades

Drilling has sampled additional Clastic Zones 41, 43, 45 and 47 after drilling through the old casing of the Cane Creek 32-1 well while drilling down to the Mississippian unit targets, see results in Table 1.

These additional sampled Clastic Zones have the potential to contribute to the upcoming Resource upgrade at Paradox and deliver new Indicated and Inferred Resources in these horizons which are not previously included in the Project’s existing JORC Resource or Exploration Target.

Table 1: The depths and thicknesses of the newly sampled clastic zones.

The assay results, if favourable, will confirm that multiple additional clastic zones contain lithium- rich supersaturated brines, see Table 2, in addition to the five previously sampled in Anson’s drilling programs (see previous ASX Announcements).

This assay data and rock chip samples from these new horizons will also provide additional geological information on the brine horizons in the Project area, which can be sampled in future exploration programs.

The brine samples have been sent to a nearby laboratory for a quick assay turnaround and have also been sent to SGS North America (Oil, Gas and Chemical Division) in Texas, where all samples from Anson’s previous drilling at the Project had been sent. The SGS laboratory specialises in brines which can be associated with the oil industry. The brine sample is fast-tracked so it can be determined what additional work should be carried out.

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