Ann: SO4: Initial Results Confirm Lake Way Potential, page-3

INITIAL RESULTS CONFIRM LAKE WAY POTENTIAL Salt Lake Potash Limited (SLP or the Company) is pleased to provide an update on the Company’s Lake Way project since entering into an MOU with Blackham Resources Limited’s (Blackham) for potential development of a Sulphate of Potash (SOP) operation. Highlights of work completed include: Surface Sampling Program  A preliminary surface sampling program on Blackham’s tenements confirms the average SOP grade of over 14kg/m3, making Lake Way one of Australia’s highest grade SOP brine sources. Geotechnical Investigations  An initial geological and geotechnical investigation by the Company and Knight Piesold confirmed the availability of in-situ clays amendable for on-lake evaporation pond construction. A total of 24 auger holes were excavated across Blackham’s tenements and laboratory tested. Surface Aquifer Exploration  Review and modelling of the large volume of historical exploration data for Lake Way confirms the likelihood of a large hypersaline brine pool on both Blackham and SLP’s tenements.  The Company is in the process of mobilising a drill rig and an amphibious excavator on the Lake to complete an initial surface aquifer exploration program.  The surface aquifer program will include the construction of test pits and trenches for long-term pump testing. Process Testwork  The Company has commenced a range of process development testwork including process pathway modelling by international experts, a bulk sample evaporation trial and site-based evaporation trial at Lake Way. CEO Matt Syme said “These initial results are very pleasing and support the Company’s view that Lake Way is an ideal site for our SOP Demonstration Plant and subsequent expansions. It appears to have the best combination in Australia of scale, brine chemistry, playa surface, shallow clays for pond construction, permitting pathway and infrastructure access, which should result in substantial time and cost advantages.” Enquiries: Matthew Syme (Perth) Telephone: +61 (8) 9322 6322 Jo Battershill (London) Telephone: +44 207 478 3900