Anson Resources : Moves Closer to First Production

14 December 2017

ASX ANNOUNCEMENT

ASX: ASN, ASNOB

Anson Moves Closer to First Production

Highlights:

• • Anson is on-track to produce first Lithium Carbonate in April 2018

• • Discussions held with battery manufactures to bench test product

• • Application to lease industrial land accepted by the Utah Government

• • Industrial lease site is the target location for Anson's LCE in-field pilot plant

• • The in-field pilot plant aims to produce further LCE for product qualification

• • Completes a further step to fast-track development at Anson's Paradox Lithium Project

Anson Resources Limited (Anson) has submitted an application to State of Utah School and Institutional Trust Lands Administration (SITLA), Government of Utah, to lease 15 acres of industrial land at Anson's Paradox Lithium Project, located in the "Lithium Four Corners" area in Utah in the USA.

Successfully securing this industrial site will enable Anson to fast track the development of an in-field pilot plant. Figure 1 contains an image of typical industrial facilities within the SITLA areas in the State of Utah.

Figure 1: Photo of a Facility on an Industrial Lease from the SITLA website.

Anson is on schedule to commence its fully funded drilling program at its Paradox Lithium Project in December 2017, during which brine will be collected for processing in a bench-top plant enabling first lithium carbonate to be produced in April 2018. This plant has been designed using the methodology successful applied by Anson to processing synthetically prepared brines with a mineral composition consistent with assays from historical samples collected from drilling in

Suite 4, Level 3, 1292 Hay Street, West Perth, WA 6005, Australia

Tel: +61 8 9226 0299 Fax: +61 8 6313 4133 ABN: 46 136 636 005www.ansonresources.com

areas in close proximity to the Paradox Lithium Project. See Anson's announcement dated 12 April 2017 for further details.

The bench-top test work program is fully funded following a placement on 30 October 2017 of 20 million shares to Zhongfan Group, a privately owned, large scale international enterprise group based in Shanghai, China that integrates resource development, mineral trading and new material technology development, and has over US$2 billion in annual turnover.

Zhongfan and Anson have a memorandum of understanding (MoU) to work towards a binding agreement for Zhongfan to fund development works at the Paradox Lithium Project.

Discussions have recently been held with a number of battery producers, including those with whom Anson has existing memoranda of understanding to enter into detailed negotiations for the supply of lithium (see Anson's announcement dated 20 September 2017 for further details), to commence product qualification testing. It is expected that Anson would be able to supply lithium from its bench-top plant to battery manufacturers for testing in April 2018.

Following the completion of processing of brine in the bench-top plant, Anson intends to progress a larger scale in-field pilot plant enabling further product qualification testing in the short to medium term.

A map showing the location of the industrial site is shown in Figure 2 below:

Figure 2: Map Showing the Location of the Industrial Land Application.

Note the industrial zone is contiguous with Anson's Paradox Lithium Project with road access.

The bench-top test work is also expected to produce other marketable minerals, which will also be offered to potential end users for qualification test work. If the quality is acceptable these other minerals, which could include Boron, Bromide, Iodine and Magnesium, would provide additional revenue for the Project.

Anson Managing Director, Bruce Richardson commented, "Identifying an industrial site on which to potentially locate an in-field pilot plant is a key step to fast-track development at Anson's Paradox Lithium Project by potentially reducing the time needed to obtain approvals. With the ongoing financial support of a strategic investor, the Zhongfan Group, Anson remains on track to create further shareholder value from the development of it's world-class lithium brine project. Each step brings this goal a little closer."

ENDS

For further information please contact:

Bruce Richardson

Managing Director

E:info@ansonresources.comPh: +61 8 9226 0299

www.ansonresources.comFollow us on Twitter @anson_ir

Forward Looking Statements: Statements regarding plans with respect to Anson's mineral projects are forward looking statements. There can be no assurance that Anson's plans for development of its projects will proceed as expected and there can be no assurance that Anson will be able to confirm the presence of mineral deposits, that mineralisation may prove to be economic or that a project will be developed.

About the Utah Lithium Project

Anson is targeting lithium rich brines in the deepest part of the Paradox Basin in close proximity to Moab, Utah. Lithium values of up to 1,700ppm have historically been recorded within 270m of Anson's claim area. The location of Anson's claims within the Paradox Basin is shown below:

Competent Person's Statement: The information in this announcement that relates to exploration results and geology is based on information compiled and/or reviewed by Mr Greg Knox, a member in good standing of the Australasian Institute of Mining and Metallurgy. Mr Knox is a geologist who has sufficient experience which is relevant to the style of mineralisation under consideration and to the activity being undertaken to qualify as a "Competent Person", as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves and consents to the inclusion in this report of the matters based on information in the form and context in which they appear. Mr Knox is a director of Anson and a consultant to Anson.

As the Project is located in the United States, the Exploration Results have not been reported in accordance with the JORC Code 2012; a Competent Person has not done sufficient work to disclose the Exploration Results in accordance with the JORC Code 2012; and it is possible that following further evaluation and/or exploration work that the confidence in the prior reported Exploration Results may be reduced when reported under the JORC Code 2012. Nothing has come to the attention of Anson that causes it to question the accuracy or reliability of the former owner's Exploration Results. Anson has not independently validated the former owner's Exploration Results and therefore is not to be regarded as reporting, adopting or endorsing those results.