Anson’s Green River Lithium Project Faces Key Test with Historic Well Re-entry Ahead

Maiden Lithium Resource Marks a Milestone

Anson Resources Limited has taken a significant step forward in its lithium ambitions with the announcement of a maiden JORC Mineral Resource estimate of 103,000 tonnes of lithium carbonate equivalent (LCE) at its Green River Lithium Project in Utah, USA. This initial resource is based solely on data from the Bosydaba #1 well, underscoring the project's promising potential in a globally strategic lithium basin.

The Green River Project's resource estimate is just the beginning. Anson has secured approvals from the Utah Division of Oil, Gas and Mining and the US Bureau of Land Management to re-enter the historic Mt Fuel-Skyline Geyser 1-25 well. This re-entry, planned for the third quarter of 2025, aims to deepen the well and potentially increase the lithium-rich reservoir thickness, which could significantly expand the resource base.

Strategic Expansion and Enhanced Brine Quality

In addition to drilling plans, Anson has bolstered its land holdings by acquiring 100 new placer claims, expanding the Green River land package by 10%. Nearly a third of these claims lie within the project's Area of Influence, positioning them for inclusion in future resource upgrades. Complementing this, recent swabbing programs at the Bosydaba #1 well have yielded higher lithium assay values averaging 135 mg/l, a 44% increase over previous estimates, which will be factored into upcoming resource revisions.

Collaboration with POSCO and Technological Innovation

Highlighting the project's commercial momentum, Anson has entered a non-binding Memorandum of Understanding with POSCO Holdings to collaborate on constructing a demonstration plant employing Direct Lithium Extraction (DLE) technology. This partnership, contingent on POSCO's due diligence, could accelerate the project's development timeline and validate innovative extraction methods that promise greater efficiency and environmental benefits.

As part of this collaboration, Anson has shipped a bulk sample of iron-free lithium-rich brine to POSCO in South Korea, produced through Anson's proprietary chemical-free process. The upcoming test work will inform engineering design and cost estimates for the demonstration plant, marking a critical step toward commercialisation.

Regulatory and Community Engagement Advances

Recognising the importance of sustainable development, Anson has worked with Utah state authorities to establish a new variable royalty rate for lithium production, ranging from 1% to 5% based on market conditions. This flexible framework replaces the previous flat 5% rate, reflecting the evolving lithium market dynamics and supporting project viability.

Further cementing its local commitment, Anson signed a Community Benefits Agreement with Green River City Council. The agreement aims to create 50 to 100 well-paying jobs prioritising local residents, supported by training programs and infrastructure investments. The city has pledged to expedite permitting and infrastructure upgrades, fostering a collaborative environment for project advancement.

Broader Portfolio and Financial Position

Beyond Green River, Anson continues to advance exploration and development across its diversified portfolio, including the Paradox Lithium Project, Ajana zinc-lead-silver project, Hooley Well cobalt-nickel laterite project, Yellow Cat uranium-vanadium project, and the Bull nickel-copper-PGE project in Western Australia and Utah.

Financially, the company maintains a solid footing with $2.5 million in cash at quarter-end and access to a $30 million equity placement facility, providing ample runway for ongoing exploration and development activities.