Anson Resources Limited announced results from its recently completed drilling of the Mississippian units at the Cane Creek 32-1 well at its Paradox Lithium Project (the Project) in Utah, USA, and that the results have returned lithium grades 25% higher than historical assay results from the Mississippian Units at Cane Creek. Anson completed its Resource expansion drilling program at the Cane Creek well last month. Drilling successfully targeted multiple clastic zones and the deeper Mississippian units approximately 500m below the clastic zones.

Nine samples were collected through the large aquifer within the 398 feet thick Mississippian units at Cane Creek. Assay values of 101ppm lithium and 3,294ppm bromine were returned from the entire drilled zone in the Mississippian Units. The results confirm that the massive, supersaturated brine aquifer in the Mississippian Units is lithium and bromine-rich.

In combination with the previously reported assay results from the Mississippian units drilled at the Long Canyon Unit 2 well, the Mississippian units at Cane Creek and Long Canyon have returned average grades of approximately 145ppm Li and 3,544ppm Br. The results from Anson's Resource expansion drilling at Long Canyon formed the basis of the recent major Resource upgrade at Paradox. The Cane Creek drilling was not included in this upgraded Resource, and will be included a new Resource upgrade in the near future.

The drilling at Cane Creek and Long Canyon constituted Anson's Eastern Expansion strategy. The Company has now received approvals to commence its Western Expansion strategy, which will see it target the Sunburst 1 and Mineral Canyon Fed 1-3 wells within the Project area. The results from these two wells are then proposed to be included in a further Resource upgrade.

This massive brine aquifer in the Mississippian Units throughout the Project has a thickness between 70 to 170m and is approximately 500m below the clastic zones used to calculate the Indicated and Inferred JORC Resource estimate. The supersaturated brine samples from the drilled zone at the Mississippian Units were sent to SGS North America (Oil, Gas and Chemical Division) in Texas where all the samples in previous drilling programs had been sent. The laboratory specialises in brines associated with the oil industry.

A new Exploration Target for the Mississippian supersaturated brines solely for the Western Expansion Strategy consists of 2.10Bt ­ 2.56Bt of brine grading 108 ­ 200ppm Li and 2,000 ­ 3,000ppm Br. The assay results may indicate a connectivity between the Mississippian and Paradox Formation Clastic zones due to the geological feature, Robert's Rupture, which has resulted in the Mississippian rocks being faulted against the Paradox salt beds near to the Long Canyon Unit 2 well. The supersaturated brines in the Mississippian Units have a similar minerals composition to those previously assayed brines of the Paradox Formation clastic zones used in the Anson's JORC estimates.

The brines from the Mississippian have previously been tested for salt minerals during historical oil exploration programs. The limestones and dolomites in south-eastern Utah are noted for vuggy (a small cavity in a rock) and intracrystalline porosity. It has been noted in some of the well files that drilling tools have dropped in apparent cavernous porous zones resulting in a loss of circulation in the Mississippian Units. This is a positive indication of high porosity zones.

Diamond core recently discovered shows fracturing and "vuggs" throughout the limestone and dolomite units demonstrating the high porosity required for the storage of brine. This confirms the geophysical logs and porosity calculation.