Lake Resources NL: Expands Kachi Project with Additional Leases (2,500 HA)

Brisbane - Lake Resources NL (ASX:LKE) ("Lake" or "LKE") is pleased to advise that additional leases have been secured at the Kachi Lithium Brine Project in Catamarca province, Argentina.

- Kachi Lithium Brine Project now covers total consolidated area of ~52,000 Ha

- ~90% of project leases now approved for exploration

- Results from near-surface brine sampling expected shortly

This is the first time the area has been consolidated under one owner 100%, with the great majority of all leases being approved for exploration.

More sample results are expected soon, to be followed by geophysics and an initial drilling programme.

More Leases - Kachi Lithium Brine Project

Further mining leases have been secured (~2,500 Ha) over the Kachi Lithium Brine Project in Catamarca province. These were critical areas of mining title to consolidate the area.

This is the first time the area has been consolidated under one owner 100%. These cover a combined area of ~52,000 Ha of adjoining consolidated leases. Virtually all leases have been approved for exploration (~90% by number), an important stage of progress for the Company, as set out in the shareholder approved acquisition of LithNRG Pty Ltd last year.

Results Soon - Kachi Lithium Brine Project

Results are expected soon from the near-surface brine sampling programme over the salt lakes in the Kachi Lithium Brine Project in Catamarca province. The Company's Board and Management look forward to updating shareholders as such results become available.

The Company is also pleased to confirm its new corporate identity which better reflect the operations and commodity focus of Lake Resources. LKE has also launched a new website which provides a source of useful information and reference for investors.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/9668R6GZ

About Lake Resources NL:

Lake Resources NL (ASX:LKE) is a lithium exploration company undertaking an aggressive programme to explore prime lithium basins in Argentina, among some of the largest players in the lithium sector. Mining leases and applications are located in the Lithium Triangle which accounts for 49% of current lithium production. Lake recently completed the acquisition of an early mover in Argentina, who had secured an extensive strategic package of ~90,000 Ha, prior to a significant 'rush' to secure projects by major companies in the sector. This is one of the largest lithium tenement packages in Argentina, controlled 100% by Lake. The option agreement over lithium pegmatites in Catamarca, if exercised, would increase this to ~160,000 Ha.

Lake has three key areas that have similar settings to major world class projects being developed – Olaroz/Cauchari, Paso and Kachi in the highly prospective Jujuy and Catamarca Provinces. The Kachi Lithium Brine Project is located in Catamarca province, approximately 100km south of FMC's Hombre Muerto Lithium brine production operation. The Kachi Project overlies an area of almost 50,000 Ha of leases and lease applications, centred around a salt lake within a large basin almost 100km long with initial results up to 322 mg/L Li at surface and more results expected, followed by geophysics and drilling. Upcoming exploration in lithium brine basins, one which is adjacent to some of the leading lithium producers/developers, including Orocobre and SQM, may provide several catalysts for growth as the areas are assessed for major discoveries.

Significant corporate transactions continue in adjacent leases with development of Lithium Americas Olaroz/Cauchari project with a 36% equity investment of US$286 million, from Gangfeng, an important Chinese producer, and Bangchak Petroleum. Both Chinese investors will also provide US$205 million debt facility with offtake commitments, sufficient to develop Lithium Americas



Contact:

Steve Promnitz Managing Director
Lake Resources NL
T: +61-2-9188-7864
E: steve@lakeresources.com.au