Lake Resources NL: Quarterly Activities Report

Sydney, Australia - Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) is providing a clean solution to the delivery of high quality lithium into the tight supply chain of battery materials powering the energy transition. Lake uses disruptive, direct extraction technology from its partner, Lilac Solutions Inc in California (Lilac), for efficient production of high purity lithium with significant ESG benefits. No mining is involved in the brine processing.

Production from the flagship Kachi Lithium Brine Project is targeted to commence in 2024 at a rate of 50,000 tpa lithium carbonate. Kachi is indicatively financed into production with long dated low cost project finance from the UK Export Finance and Canada's EDC for approximately 70% of the total finance required for Kachi's development, subject to standard project finance terms.

Lake's development plan uses an efficient direct lithium extraction method (DLE) from our technology partner, Lilac, who is earning into the Kachi Project. This enables Lake Resources to be a cost competitive supplier of high-purity lithium carbonate that is able to come to market quickly at significant scale. The process generates strong ESG benefits, a low carbon (CO2) footprint, low water and low land use.

High purity battery quality lithium carbonate (99.97% purity) has been produced (refer ASX announcement 20 Oct 2020) from product from pilot plant modules. This product performed successfully in NMC622-based lithium-ion battery test cells (refer ASX announcement 2 Mar 2020).

Lake aims to expand the number of development projects by drilling at Lake's Olaroz, Cauchari and Paso projects.

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About Lake Resources NL:

Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising clean, direct extraction technology for the development of sustainable, high purity lithium from its flagship Kachi Project, as well as three other lithium brine projects in Argentina. The projects are in a prime location within the Lithium Triangle, where 40% of the world's lithium is produced at the lowest cost.

This method will enable Lake Resources to be an efficient, responsibly-sourced, environmentally friendly and cost competitive supplier of high-purity lithium, which is readily scalable, and in demand from Tier 1 electric vehicle makers and battery makers.

Source:
Lake Resources NL

Contact:

Steve Promnitz Managing Director T: +61-2-9188-7864 steve@lakeresources.com.au For media queries, please contact: Nigel Kassulke at Teneo M: +61-407-904-874 E: Nigel.Kassulke@teneo.com