Anson Resources Limited announced that it has signed a sub-lease agreement with Green River Companies LLC which was approved by the Wayne County Water Conservancy Board, State of Utah in January 2023 (Agreement). The Agreement will provide the supply of water required for the operation of the Company's
proposed lithium producing operation at the Paradox Lithium Project in Utah, USA (Project). The Agreement is for an initial period of 23 years with an option to extend the Agreement for up to additional 20 years. The agreement with Green River Companies LLC was signed in October, 2022 and conditions precedent required the approval by the Wayne County Water Conservancy Board, State of Utah and the payment of $1 by A1 Lithium Inc. These conditions have been met.
The amount of water sub-leased to Anson exceeds the expected water consumption of its planned 13,000tpa LCE plant at the Project and allows the Company to apply for points of diversion of the water from the Colorado or Green rivers in Utah, subject To Approve the location of the diversions, and can be used for industrial purposes. The Agreement also allows for Anson to apply for additional water rights should there be a change in production requirements. The water was originally leased by the Wayne County Conservancy District, State of Utah, in 2005 and subsequently transferred to Green River Companies LLC in 2012. The agreement to sub-lease the water rights to Anson has received the consent of the Wayne County Water Conservancy
Board, State of Utah.