Ann: Anson Signs Paradox Bromine MOU with TETRA Technologies, Inc, page-3

Highlights:
• Anson and TETRA Technologies, Inc sign a non-binding Memorandum of
Understanding (MOU) for collaboration in the development of the Paradox Brine
Project
• The MOU has been established to facilitate collaborative discussion including:
o Off-take of elemental bromine as bromide derivative products
o Possible investment in the Paradox Brine Project by TETRA
o Supply of TETRA’s patented bromine derivative processes and brine
technologies to the Project
o Management of plant operations
• The Parties will use reasonable efforts to negotiate the definitive agreements within
six months
Anson Resources Limited (“Anson” or the “Company”) is pleased to announce that it has entered
into a non-binding Memorandum of Understanding (“MOU”) with TETRA Technologies, Inc.
(NYSE: TTI) (“TETRA”) as a framework for discussing options to work together to jointly develop
Anson’s Paradox Brine Project located in Utah, USA (the “Project”). The framework allows Anson
and TETRA to discuss and negotiate an off-take agreement, the licensing of TETRA’s patented
process technology to the Project, and managing the operation of the planned Bromine production
facility.
Anson’s Paradox Brine Project consists of 1,080 USA Federal government, Bureau of Land
Management (BLM) placer claims and two Utah government, Schools Institutional Trust Lands
Administration (SITLA) minerals leases and two SITLA Special Use Surface Agreements (SULA)
for industrial use. The BLM placer claims and the SITLA mineral leases include rights to lithium,
bromine, boron and iodine. Anson is developing plans to extract lithium and bromine at a production
facility located on one of the SULA leases and is currently finalising a Pre-feasibility Study initially
for the production of bromine and then lithium in the next stage of the development of this project.
TETRA is a global leader in the production of bromine derivative products such as Zinc Bromide
(ZnBr), Calcium Bromide (CaBr) and Sodium Bromide (NaBr), which are used in a number of
applications including oilfield completion services and zinc-bromide energy storage batteries.
TETRA is a market leader in the bromine-based clear brine fluids used in the off-shore oil and gas
industry. As announced earlier this year TETRA is pursuing to leverage its global chemical network,
technology, and mineral resources to enable its growth into low carbon energy markets including
its PureFlow™ high purity zinc bromide for energy storage.
Anson’s Executive Chairman and CEO, Bruce Richardson, commented: “This is a significant
step forward in the development of the Paradox Brine Project and serves as a tremendous
validation of the quality and potential of Paradox. We are delighted that our discussions with
TETRA have formalised into this MOU and our ability to collaborate freely provides a clear
opportunity to accelerate the development of Paradox towards production.
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TETRA is a well-established and highly credentialed partner in brominated completion fluids with
significant chemical R&D and manufacturing experience, and this will allow them to provide the
best solutions to ensure maximum value is extracted from the mineral rich brines of Paradox.
Importantly, partnering with TETRA will allow the first stage of the Project to be developed while
Anson continues to increase the size of the Project by exploring the areas identified in its
Exploration Target. Our team will also continue to assess the potential to extract additional products
from Paradox.
This is an exciting time in the development of Paradox and we are continuing to gather
considerable momentum on the pathway towards production. With a considerable pipeline of work
underway, I look forward to providing updates on key developments in due course.”
TETRA’s President and CEO, Brady Murphy, commented: “We are pleased to enter this MOU
with Anson Resources to fully evaluate the potential partnership including the opportunity to
leverage TETRA’s brine expertise and mineral extraction and manufacturing technologies for this
attractive U.S. lithium and bromine resource. With a recovering Oil and Gas market and significant
future energy storage requirements, we will need new sources of bromine supply and the proximity
of this resource to the West Coast market is beneficial. We look forward to advancing our
partnership with Anson in the coming months and years ahead.”
Any definitive agreement will be subject to customary terms with regard to termination,
representations, warranties, covenants, indemnification, confidentiality and other provisions for
similar agreements. Further the definitive agreement will be subject to required approvals, including
the Parties’ respective Board of Directors, governmental consents, or other regulatory
requirements.
This announcement has been jointly authorised for release by the Executive Chairman and CEO
of Anson and the CEO of TETRA.