Anson Resources Limited announced that its current drilling program at the Company's Paradox Lithium Project (the Project) in Utah, USA, has delivered major increases in flow rates, of up to 165%. Anson's ongoing resource expansion drilling program at Paradox is currently focused on the targeted Mississippian units at the priority Cane Creek 32-1 well. On re-entry at Cane Creek 32-1, Clastic Zone 31 horizon delivered a flow rate of 66 barrels/hour, an increase of 147% on the original recorded flow rate at this target.

Brine flow at Cane Creek 32-1 from the recent drilling program. Similarly, an increase in flow rate of 165% was delivered from Anson's recently completed drilling at the Long Canyon No. 2 well.

These results indicate that salts that have previously precipitated are breaking down over time due to the influx of brine ­ as a result of the positive attributes of high pressure, porosity, and permeability at the Paradox Project area. A key positive outcome of the significantly improved flow rates is that it is anticipated they will push the brine to surface without the need for pumping. This would in turn deliver substantial benefits to the economics of extraction and the longevity of Anson's proposed lithium producing operation at Paradox.

The flow rates from the Clastic 31 horizon at both the Long Canyon Unit 2 and Cane Creek 32-1 wells re-entered in the current drilling program to sample the Mississippian units, have increased markedly since the original sampling program completed in 2018 and 2019. The higher flow rate from Long Canyon No. 2 is due to the "Robert's Rupture" geological feature, which has resulted in higher pressure and vertical porosity.

Anson has located its two extractions well pads - Long Canyon West 1 (LCW1) and Long Canyon West 2 (LCW2) - in the immediate vicinity of Long Canyon No.2 and Robert's Rupture to take advantage of this unique geological structure. The flow rate of the well is affected by the condition and the degree of connectivity between the well and the brine reservoir. Salt precipitation in the clastic can result in poor connection, which was consistent with the flow rates measured during the original drilling program.

It is now considered that the brine flow generated in Anson's current re-entry programs has resulted in the precipitated salt dissolving, which in turn has increased the flow rate into the well. Anson advised that further test work on the Long Canyon No. 2 and Cane Creek 32-1 wells has confirmed continued high pressure and increased high flow rates.

This is a highly positive outcome that will positively impact the economics of Anson's proposed Paradox Lithium Project. Anson is in a unique, and ideal location for brine extraction at the intersection of Robert's Rupture and the Cane Creek Anticline, at the Paradox Lithium Project. Robert's Rupture provides vertical porosity, and the Cane Creek Anticline results in a shallower depth to the target extraction horizon.

The three factors; high pressure, porosity (both horizontal and vertical) and shallow depth are key attributes of the Paradox Lithium Project and are not present anywhere else in the area. In combination, they provide strong indicators of low extraction costs and beneficial ESG outcomes. The wells Anson has re-entered in its current drilling program have delivered artesian flow (that is; natural flow without the need for pumping) from the Clastic Zone 31 horizon due to the constant higher pressures and the porosities of this clastic zone.

The Clastic Zone units consist of dolomite, anhydrite and black shale layers. The dolomite is quite porous and permeable, whereas the anhydrite and black shale is crushed and broken. When the zones containing brine are intersected during drilling, artesian flow begins which indicates vertical porosity, permeability and that communication exists between the layers.

The fractured clastic zones form an excellent reservoir for supersaturated brines. At the extraction point, when brine is removed, salt will flow into the voids from where the brine has been removed, due to these parameters. This would help maintain high reservoir pressure and assist in a high ultimate recovery of brine.

Based on the regional structures and the resultant high pressures, porosity and permeability Anson has located the extraction well sites in the ideal position which will result in artesian flow of the brine to the surface with no pumping required.