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Lake Resources Raise upsized to $2.7m to accelerate Cauchari drilling

  • New funds raised deliver the financial flexibility to aggressively accelerate drilling at Cauchari and continue immediately to the equally prospective Olaroz.
  • High fluid flows of conductive brines recently intercepted with results due next week at Cauchari Lithium Brine Project - follows results with strong lithium values of 480 mg/L.
  • The target in the current hole at Cauchari is a ~350-450m deep sand horizon which has recorded higher lithium values and fluid flows in the adjoining project.

Lake Resources NL (ASX: LKE) is pleased to announce that it has secured commitments for $2.4 million before costs through the placement of approximately 27 million ordinary shares at $0.09 per share in a private placement to offshore and local sophisticated and professional investors. Every two new shares have one attaching option exercisable at $0.10 cents per share expiring in July 2021.

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