Anson Initiates Testing of Direct Lithium Extraction at Green River Site

Anson Resources Limited (ASX: ASN) ("Anson Resources" or "the Company") is delighted to announce its partnership with Koch Technology Solutions ("KTS"), a subsidiary of Koch Engineered Solutions ("KES"), to commission the Li-Pro™ process pilot unit for lithium extraction at the Company's Green River Lithium Project ("Project") in Utah, USA. The pilot program will receive joint funding from Anson Resources and an investment from KTS through a convertible note, as both companies aim to develop a more extensive commercial relationship.

In May 2024, KTS finished an extensive treatability study utilizing brine sourced from Anson Resources’ Green River Lithium Project. The testing demonstrated exceptional lithium recovery and element rejection rates, showing results superior to those in Anson Resources’ Definitive Feasibility Study. The Company is currently assessing potential revisions to CAPEX and OPEX based on these promising outcomes.

On June 21, 2024, the companies finalized an agreement to collaborate on accelerating the commissioning of the pilot unit. Successful results from the pilot unit will furnish comprehensive feasibility engineering and cost data for implementing the full-scale Li-Pro™ process at the lithium extraction facility of the Green River Lithium Project.

The pilot unit is scheduled to commence operations in July 2024 on Anson Resources’ private land in Green River, Utah, operating continuously 24/7 for the next two to four months. It will process fresh brine sourced from the Company’s Bosydaba#1 well into lithium chloride, mimicking conditions found in commercial production. This pilot unit supplements Anson Resources’ operational Sample Demonstration Plant (SDP) at Green River, which follows the existing flow sheet as announced on April 15, 2024. Both direct lithium extraction (DLE) technologies will be simultaneously tested using brine obtained during the drilling program at Bosydaba#1. Test results from brine sourced from the Leadville Formation, Mississippian Units indicated lower contaminant levels, higher porosity, and greater pressure compared to the Paradox Lithium Project, as per the announcement on May 20, 2024.

Anson Resources and KTS have entered a commercial agreement in which KTS will fund the piloting, testing, and detailed feasibility engineering costs for the Li-Pro™ pilot unit at Green River through a convertible note investment.

If the initial pilot proves successful and both Anson Resources and KTS decide to proceed with a commercial Li-Pro™ unit, additional funding could be provided by KTS. KTS utilizes its Li-Pro™ process in operational pilot facilities across North America. Recently, KTS announced the commencement of its commercial-scale lithium extraction demonstration plant near El Dorado, Arkansas, commissioned in April 2024, touted as the largest continuously operating DLE facility in North America.