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Lake Resources Announces Drilling Confirms Large Scale Lithium Brine Basin - Kachi Lithium Project, Argentina

• Initial drilling confirms the Kachi Lithium Project is a maiden discovery of a very large deep lithium brine-bearing basin being a similar size to producing globally significant lithium projects.

• Lithium brines intersected in numerous horizons from surface to 400metres in drill holes spaced 11 kilometres apart at Lake’s 100%-owned Kachi Lithium Brine Project in Catamarca Province, Argentina.

• Seven rotary and diamond drill holes completed in lithium brine-bearing sediments in the Kachi salt lake. Results reported for four of the seven new resource drill-holes, with variable depths up to 402 metres.

• Highlights include drill-hole PP2-DV-003, which averaged 308mg/l lithium after 27 hours of airlifting, with low impurities and low average Mg/Li ratio of 4.3.

• Results are pending from a number of samples from depths below 200 metres with promising conductivities.

• Six of the seven holes ended in sandy material, and remain open at depth. The extensive sands encountered have relatively high drainable porosity based on initial site observations, and are expected to have relatively high permeability, positive for future brine extraction requirements and resource estimation.

• Lake considers the Kachi project to be a covered salt lake over 25 x 15 kilometres hosting a very large lithium brine body in sandy sediments with high permeability and low impurities.

• A seismic survey and drilling data suggests the Kachi basin is over 400 metres deep with potential to host a very significant volume of brine. This vindicates the exploration approach, despite slow drilling and delays in results.

• Deeper horizons are being targeted to locate higher grades and assess flow rates and extend the potential. The implied size of the brine reservoir has made the Company contemplate further drilling rigs to accelerate the resource assessment.

Argentine-focused lithium exploration and project development company Lake Resources NL (ASX:LKE) is pleased to report initial drill results and ongoing exploration activities at its 100%-owned Kachi Lithium Brine Project in Catamarca Province.

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