Anson Resources Limited announced continued high pressure along with higher flow rates than initially tested at the Long Canyon Unit 2 well within the priority Mississippian Units, at the Company's Paradox Lithium Project in Utah, USA. Anson is currently drilling the Long Canyon Unit 2 well and is targeting the large Mississippian supersaturated brine aquifer which hosts a substantial lithium-rich zone of ~100m-250m thickness. Drilling aims to convert the existing Exploration Target into an Indicated and Inferred Resource. This phase of the Company's resource expansion drilling program has made excellent progress, with drilling reaching the target depth of 2,334 metres (7,670 feet) at the top of the Mississippian units and achieving first brine flow, with samples being collected for assaying. Commentary - High-Pressure and Flow Rates at Shallow Depth; Anson to advise that further test work on the Long Canyon Unit 2 well has confirmed continued high pressure and high flow rates. This is a highly positive outcome and is of significant importance. One of the key considerations in Anson's resource expansion drilling program is to monitor and test the well pressure over distance and time. Strong and consistent pressure would have a positive impact on brine extraction economics. The Company's test work has confirmed that over-pressure extends for more than 12 km from the Long Canyon Unit 2 well, and will likely take many years to exhaust. Anson is in a unique, and ideal, location for brine extraction at the intersection of Robert's Rupture and the Cane Creek Anticline (raised area, at the Paradox Project. Robert's Rupture provides vertical porosity, and the Cane Creek Anticline provides a shallower depth to the target extraction horizon. These three factors; high pressure, vertical porosity and shallow depth are key attributes of the Paradox Project area 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 have delivered artesian flow from the Clastic Zone 31 horizon due to the constant higher pressures and the porosities of this clastic zone. Strategic Location of Production Pads to Deliver Optimal Outcomes; The pressures recorded across the project area in the Clastic Zone 31 horizon are shown to be uniformly high, which should result in continuous artesian flow once the extraction process begins. To date, artesian flow has been recorded from Clastic Zone 31 over a distance 12km east-west and 8km north-south. This uniform pressure across the project area indicates that pressure will be maintained throughout the life of the project, and support continuous extraction without the need to pump. Anson has strategically located the production pads where the two major geological structures in
the area - Roberts Rupture and the Cane Creek Anticline - intersect.