Anson Resources Limited announced a major upgrade to its JORC Code 2012 Mineral Resource estimate (Mineral Resource) at its Paradox Lithium Project (Project) in Utah, USA. The delivery of the Mineral Resource upgrade represents another significant achievement in the development pathway of the Project. It will be incorporated into the Detailed Feasibility Study (DFS) completed by global engineering group.

The new, upgraded Mineral Resource was estimated from Anson's recently completed drilling and sampling at the Cane Creek 32-1 well, and has been added to its recent Mineral Resource upgrade confirmed from drilling and sampling at the Long Canyon Unit 2 well. The new, upgraded Mineral Resource represents a: 24% increase on the previously reported Lithium Mineral Resource; including; 31% increase in the Indicated Resource on the previously reported Lithium Mineral Resource; and 33% increase on the previously reported Bromine Mineral Resource. A summary of the JORC 2012 Mineral Resource Estimate is presented in Table 1. Significant amounts of other minerals including Bromine (Br2), Boron (Boric Acid, H3BO3) and Iodine (I2) have also been estimated.

A breakdown of the Mineral Resources by aquifer is shown in Table 2. The Resource does not take into account potential replenishment of the brine zones. The combined Total Indicated Resource for Clastic Zone 31 and the Mississippian is 367,100 tonnes of lithium carbonate at an average grade of 144ppm, see Table 2. The additional tonnages from these two zones - without any future upgrades - would be used to support future mine life extension. Lithium extraction test work on the Project's lithium brine has previously been completed successfully at these lithium grades.

New Discovery: The new Mississippian units in the western extent of the Project area represent a new discovery by Anson. This presents the opportunity to drill and sample these new zones, beyond the Company's core strategy of re-entering existing wells in the Project area to sample and define Mineral Resources. The proposed drilling and sampling of the new discovery area has the potential to deliver further new Mineral Resources at the Project.