Lake Resources NL: Appoints Corporate Development Officer

Sydney, Australia - Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) has appointed an experienced mining company commercial executive Mr Sean Miller to the newly created position of Corporate Development Officer to fast-track development activity across Lake's three brine projects in the Jujuy Province of Argentina - Cauchari, Olaroz and Paso.

This is part of Lake's aspirational target to reach capacity of 100,000 tpa LCE; underpinning Lake's position as a leading lithium producer globally.

Mr Miller has significant experience and skills in project execution, supply chains, contracts and procurement, and project optimisation.

Lake has created a Corporate Development division to rapidly advance all three projects toward production in order meet the growth in global demand for high purity lithium.

Lake has committed US$15m to these projects and will increase this amount as they move into more advanced stages of development.

Additional drilling rigs and personnel will be secured this year. Test work is under way on initial samples of recovered brines to maximise the rate of lithium recovery and final product quality, utilising sustainable methods of extraction.

Mr Miller has overseen the successful delivery of multibillion dollar projects in both Australia and international markets.

He has broad experience including general management, strategic planning, supply chain, finance, legal, information technology, sustainable development and human resources in both greenfield projects and brownfield sites.

His prior roles include being head of commercial operations for The Carmichael Rail Project in Queensland; Commercial Development Director at the Kamoto Copper Company Copper and Cobalt mine in Katanga province of the Democratic Republic of Congo; Manager - Contracts & Procurement for Glencore's North Queensland Metals; and Superintendent Metal Handling at Rio Tinto's Boyne Smelters Ltd.

The Corporate Development division at Lake has been created to fast track Cauchari, Olaroz and Paso and allow full scope for the advancement of the Kachi project in Catamarca which is being led Lake COO Mr Gautam Parimoo and his team.

Mr Miller's appointment is the first of several new appointments by Lake as the company builds out its senior management team and board while moving toward FID on the Kachi project.

As announced recently, the company will appoint a new US based CEO. That selection process is nearing completion following final interviews with the board.

Lake will strengthen and broaden the experience of its board ahead of completion of project financing and is finalising the selection of new board members.

Lake intends to make these appointments over the coming months following the appointment of the CEO as part of the transition to a US-based corporate office.

"Lake is entering an exciting phase of the company's history as we transition the company toward development and production of our first project at Kachi," Lake Executive Chairman Mr Stuart Crow said.

"The addition of new skills and experience across the company will enable Lake to become a key supplier as the lithium sector comes to terms with a scarcity of supply and a limited number of projects coming online.

"Supply is needed to meet rapidly growing demand for lithium as EV sales and penetration hits the inflection point of adoption across all major markets globally.

"This constrained supply dynamic provides an enormous opportunity for Lake as one of the few companies with multiple, highly prospective projects to meet this growing demand," Mr Crow said.

About Lake Resources NL:

Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising clean, direct extraction technology for the development of sustainable, high purity lithium from its flagship Kachi Project, as well as three other lithium brine projects in Argentina. The projects are in a prime location within the Lithium Triangle, where 40% of the world's lithium is produced at the lowest cost.

This method will enable Lake Resources to be an efficient, responsibly-sourced, environmentally friendly and cost competitive supplier of high-purity lithium, which is readily scalable, and in demand from Tier 1 electric vehicle makers and battery makers.

Source:
Lake Resources NL

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