15 October 2021 Red Cloud initiates research coverage; invitation to join 'Oktoberfest Mining Showcase' Highlights * Red Cloud Securities initiates research coverage on Lake Resources with 'buy' rating and A$1.25 per share target price * Invitation to join Red Cloud's 'Oktoberfest Mining Showcase' with Lake presenting at 4.45pm ET, Wednesday, October 20 (7.45am Sydney time, October 21) -RSVP via this link Clean lithium developerLake Resources NL (ASX:LKE; OTC:LLKKF) released today new research by Red Cloud Securities on the company, highlighting the upside potential for Lake with the development of its clean lithium technology to power an electrified world. Red Cloud has initiated coverage with a 'buy' rating and a share price target of A$1.25 per share. The research report is available via the link below. Lake also invites investors to attend Red Cloud's 'Oktoberfest Mining Showcase,' with Lake's Managing Director, Steve Promnitz presenting at 4.45pm ET Wednesday, October 20 (7.45am Sydney time, Thursday, October 21). The research report's highlights include: •Clean Li with ESG benefits.Traditional extraction methods take up to two years and only recover about 50% of the Li content. Lake and Lilac’s DLE process produces 99.97% Li carbonate in under three hours using less land and water, and with a reduced carbon footprint. •Kachi’s Li carbonate exceeds industry standards.Battery-grade purity is 99.5% and testing in Jan 20 confirmed Kachi’s high purity of 99.97%, making it highly sought after by Tier 1 battery makers and EV manufacturers. Further testing is underway to demonstrate its utility compared to other commercially available Tier 1 Li carbonate products. Results are expected to facilitate offtake discussions. •Green energy revolution fuelling Li demand. With a push to increase sales of EVs in the US and globally (40% to 50% of all new vehicles sold by 2030 are to be EV) demand for Li, a key component of Li-ion batteries, is expected to increase by 4x in 2025. With current supply unable to keep up with demand, projects like Kachi that are modular and scalable, will become imperative to the Li supply chain. •Significant upside potential.A PFS published in Mar 21 outlined an NPV8% of US$1.6B and IRR of 35% for Kachi, considering 25,500tpa LCE. Expansion studies are underway to support potential future production of 51,000tpa LCE. Furthermore, other projects (Cauchari) have shown very promising results similar to those observed at neighbouring mines and large projects. •A strong team to lead the way forward.Lake’s management team has global experience in the resource sector and has expertise leading companies from inception to development, and operation. The research report was by Red Cloud's mining analyst, David A. Talbot. He worked for nine years as a geologist in the gold exploration industry in northern Ontario with Placer Dome, Franco-Nevada and Newmont Capital. Talbot joined Dundee's (now Eight Capital) research department in May 2003, and in the summer of 2007, he took over the role of analysing the fast-growing uranium sector, and covered uranium, lithium, graphite and iron ore. Talbot is a member of the Prospectors and Developers Association of Canada (PDAC), the Society of Economic Geologists (SEG) and graduated with distinction from the University of Western Ontario with an Honours B.Sc. degree in geology. Click here to read the research report Steve Promnitz Managing Director Lake Resources Email: [email protected] Phone: +61 2 9188 7864 Follow us on Facebook: https://www.facebook.com/LakeResources/ Follow us on Twitter: https://twitter.com/Lake_Resources Follow us on LinkedIn: https://www.linkedin.com/company/lake-resources/