Anson Resources Seeks 17 Additional SITLA Blocks to Boost Green River Lithium Project and Facilitate JORC Resource Upgrade

Anson Resources Advances SITLA Tenure Application to Expand Footprint in Utah’s Lithium-Rich Paradox Basin

Through its wholly owned subsidiary Blackstone Minerals NV LLC, Anson Resources Limited has applied for 17 SITLA blocks under a consolidated Other Business Administration (OBA) application submitted to Utah’s School and Institutional Trust Land Administration. The OBA process facilitates special consideration for significant mineral projects aiming for production, enabling Anson to broaden its Green River Lithium Project tenure without fragmenting land holdings. This strategic application consolidates exploration and development efforts in a region recognized for its lithium-rich brine potential.

The proposed blocks directly adjoin Anson’s existing private land parcels and the planned processing plant site, creating a contiguous development zone. This arrangement is designed to optimize future extraction and processing operations by leveraging existing infrastructure and geological insights. The timing aligns with Anson’s broader strategy to advance the Green River project toward production efficiently, avoiding substantial new drilling expenses or project delays.

Land Package Expansion Adds 18.4% More Acreage, Enhancing Resource Potential

The 17 SITLA blocks cover 3,958 acres (16.02 km b2) of lithium prospective terrain, expanding the Green River Lithium Project’s total land area by 18.4%. This significant increase enhances the company’s resource base without immediate capital raising or debt financing. These blocks fall within the Area of Influence (AOI) of the recently updated JORC resource, completed by an independent US-based resource modelling firm in May 2026, ensuring seamless integration into upcoming resource estimates.

This expanded contiguous tenure offers Anson greater flexibility in resource modelling and extraction planning. It strengthens the company’s position in negotiations with potential joint venture partners, lenders, and investors assessing the project’s long-term production capacity. Overall, the enlarged land package reduces execution risks and marks tangible progress toward advancing Green River from exploration to pre-feasibility and feasibility stages.

JORC Resource Upgrade to Leverage Existing Geological and Assay Data Without Additional Drilling

Anson aims to upgrade its JORC resource estimate without further drilling, conserving capital and accelerating feasibility study timelines. Upon SITLA Board approval expected in August 2026, the company plans to engage an independent consultant to review and update the resource estimate, targeting completion in Q3 2026. This upgrade will underpin the Definitive Feasibility Study referenced in the company’s 9 July 2026 announcement.

The upgrade is supported by prior exploration drilling at Green River, including the Bosydaba #1 and Mt Fuel-Skyline Geyser wells, where brine samples showed lithium grades exceeding 120 ppm. Historical oil and gas wells in the vicinity also confirm consistent geological characteristics, validating resource modelling across the expanded tenure. This multi-source data foundation enables resource expansion through reinterpretation and modelling rather than costly new drilling.

Exploration Target of 235–240 Million Tons Highlights Upside Potential of OBA Ground

Anson has defined an exploration target for the OBA ground ranging from 235 to 240 million tons of brine with lithium grades between 100 and 130 ppm. This equates to 23,500 to 31,200 tonnes of contained lithium metal or 125,086 to 166,072 tonnes of lithium carbonate equivalent (Li CO ). The company clarifies this target is conceptual and not a mineral resource, representing potential tonnage and grade subject to future confirmation.

The target is derived from volumetric parameters validated through laboratory testing, incorporating the lease area, an assumed 700-foot formation thickness, 6% specific yield, and brine density of 1.13 g/cm . Lithium grades are based on assays from Bosydaba and Mt Fuel-Skyline Geyser wells since 2024, with historical data up to 139 ppm lithium, providing conservative grade assumptions.

Leadville Limestone Formation Confirms Extensive Brine Reservoir Across Paradox Basin

The Green River project focuses on the Leadville Limestone Formation, a regional geological unit known for lithium-bearing brines. Assay results from key wells confirm lithium grades above 120 ppm, affirming economic viability. Historical oil and gas wells north and west of the project area have intersected supersaturated brines within this formation, indicating the brine reservoir extends beyond current leases and continues northward across the Paradox Basin.

This geological continuity supports long-term resource expansion and mine life extension. It reduces the risk of isolated resource pockets and suggests substantial additional tonnage within the Inferred Resource Area of Interest. The increasing formation thickness toward the north, shown by isopach mapping, indicates potentially greater brine volumes in northern extensions, providing a framework for future resource upgrades beyond the current application.

ASX Regulatory Compliance and JORC 2012 Clarification Following Board Discussions

Following discussions with the ASX, Anson issued a clarification on 23 July 2026 addressing amendments to a prior announcement under JORC 2012 clause 17. This update provides additional details on the exploration target released on 16 July 2026 for the SITLA OBA blocks, ensuring full compliance with JORC Code 2012 reporting standards. This reflects the company’s commitment to transparent and compliant disclosures as the project advances toward feasibility and financing.

Compliance with JORC 2012 is vital for investor confidence and regulatory standing. Anson is dual-listed on the Australian Securities Exchange (ASX:ASN) and the US OTC market (OTC:ANSNF). Adhering to JORC standards maintains credibility with institutional investors, lenders, and equity markets that depend on standardized mineral resource reporting. The clarification demonstrates proactive regulatory engagement and strong governance as Anson prepares for capital market activities supporting Green River.

JORC Resource Estimation and Independent Validation Enhance Investor Assurance

The Green River Lithium Project represents an early-stage lithium brine resource assessment in Utah, with no prior recorded lithium assays before Anson’s drilling programs. The May 2026 upgraded JORC resource was completed by an independent US-based resource modelling firm, providing unbiased validation of geological models and resource estimates. This third-party involvement aligns with best practices and reassures investors of objective resource reporting.

Brine volume calculations incorporate formation thickness, specific yield, and brine density, applying hydrogeological and petroleum engineering principles adapted for lithium brines. Combining historical oil and gas well data with Anson’s drilling results creates a robust geological framework for resource estimation across the expanded tenure. As the company progresses toward a Definitive Feasibility Study, the quality and independence of resource estimates will be critical to financiers and partners evaluating capital deployment.

SITLA Board Review and Pathway to Definitive Feasibility Study in 2026–2027

The SITLA Board is expected to review the OBA application in August 2026. Upon approval, Anson plans to commission an independent consultant to update the JORC resource estimate, targeting completion in Q3 2026. This schedule supports the next key milestone: the Definitive Feasibility Study (DFS), as announced on 9 July 2026. The DFS will validate the technical and economic viability of Green River as a production asset, covering resource estimates, mine planning, processing design, infrastructure, and financial analysis.

Sequencing the JORC upgrade before the DFS ensures a solid geological foundation for feasibility assumptions. Following DFS completion, Anson anticipates initiating project financing in 2027. The expanded SITLA tenure and upgraded resource will form the core technical and legal basis for financing discussions with institutional debt providers and equity investors. This timeline positions Anson to enter 2027 with critical technical milestones achieved and ready for capital market engagement.

Operational Synergies From Integrating SITLA Blocks with Existing Land and Processing Facilities

The applied SITLA blocks’ strategic location adjacent to Anson’s private land and proposed processing plant enhances operational efficiencies and reduces infrastructure costs. Consolidating tenure around the processing site minimizes brine transport distances, lowers power and water handling expenses, and streamlines workforce logistics and site management.

This contiguous development model strengthens Anson’s ability to secure joint venture and offtake agreements with lithium chemical producers and battery manufacturers, who value a unified project area supporting reliable long-term production. The combined state-owned and private land parcels, pending application approval, create a consolidated asset block reflecting industry best practices in lithium brine development. This configuration bolsters Anson’s competitive position among North American lithium projects and supports its transition from exploration to development and production phases.