Ann: Anson Application to Drill for Lithium Brine Approved, page-9

Anson Application to Drill for Lithium Brine Approved Highlights:
• Notice of Intent (NOI) to drill Long Canyon A1 site approved by BLM
• Long Canyon A1 site 1.3 km from Long Canyon No 1 and White Cloud Wells and 800m from Robert’s Rupture Anson Resources Limited (Anson) is pleased to announce
that A1 Lithium, a wholly owned Utah based subsidiary, has had its NOI application granted by the Bureau of Land Management (BLM) to drill at Long Canyon A1 site (LC A1 drill site), in the Paradox Lithium Project in Utah, (the Project), see Figure 1.
The drilling of this well is one option that the Company is considering to prove a JORC compliant resource by the end of 2018 and is also being considered as a potential production well.
The LC A1 drill site is located 800m south east of Robert’s Rupture, a geological feature that is considered to demonstrate the extensive fracturing resulting in the formation of brine traps concentrating minerals, including lithium. The feature is also considered a contributor to the artesian flow of the lithium rich brine to surface. In addition, the LC A1 drill site is located approximately 1.3km from the Long Canyon No 1 well, located northwest of Robert’s Rupture, where historical assays indicate lithium content of 500ppm,

Archaeological, environmental and site surveys were conducted over the proposed area in May 2018 and these reports were provided to the BLM as part of the approval process. The LC A1 well has been approved to drill to a depth of 7,050 feet to sample the lithium and other mineral concentrations, artesian flow, pressure and temperature that were recorded on Clastic Zone 31 when the Long Canyon No.1 and White Cloud No.2 wells were drilled. In addition, should Anson elect to drill the well, brines from other Clastic levels will be assayed for lithium and other minerals as it drills down to Clastic Zone 31. If the assay results are positive the Company could consider this well for production of brine at a later date. Proposed Hole Northing (ft) Easting (ft) RL (ft) Azim ( 0 ) Dip ( 0 ) Proposed Depth (ft) LC A1 2,010,016.2 1,400,036.74 5,830 0 -90 7,050 Table 1: Proposed LC A1 drill hole co-ordinates. It should be noted that since the NOI was lodged the Company has acquired additional claims which provide the opportunity for re-entry, joint venture drilling and drilling in a new location that may assist in the Company achieving its objective of a JORC resource by the end of 2018. All of these options are under consideration by the Company. Anson’s Managing Director, Bruce Richardson, commented, “The approval of the LC A1 application by the BLM provides the Company with an opportunity to drill an exploration well to confirm the historical assay for Long Canyon No.1 of 500ppm as well as providing a location for a future production well and is a further step forward in the development of the Paradox Lithium Project. The Company remains on track to defining a JORC compliant resource by the end of 2018.” ENDS