• Largest independent lithium development project in Argentina's Lithium Triangle
• Completed Phase One Definitive Feasibility Study with high lithium recovery and purity
• Kachi project near shovel-ready with environmental approvals expected mid-2025
• Strategic review to address potential value gap between Kachi's intrinsic value and market valuation

Lake Resources N.L. (ASX: LKE; OTC: LLKKF), a responsible lithium developer, announced that its Board of Directors will form a Special Committee to evaluate a full range of strategic alternatives aimed at maximizing value for all stakeholders in the company. Lake's tier one flagship Kachi Lithium Brine Project in Argentina is significantly progressed and ranks as one of the largest lithium assets in the Lithium Triangle. Highlights of Kachi include a total resource exceeding 10.6 million tonnes of lithium carbonate equivalent, a completed Phase One Definitive Feasibility Study in December 2023 with a demonstration plant achieving 99.9% impurity rejection and 80% lithium recovery, and the project being near shovel-ready with the Exploitation Environmental Impact Assessment well advanced and approvals expected mid-2025. The decision to pursue a review of strategic alternatives is driven by the company's view that Kachi's intrinsic value and strategic significance is materially undervalued by the market, supported by recent announcements from companies with Argentine lithium projects receiving proposals that far exceed their current market capitalisations. The Special Committee will consider and assess a range of potential strategic alternatives, which may include a potential sale of all or a part of Lake's interest in Kachi, a potential sale or merger of the company, restructuring initiatives, or partnership or joint venture structures.

While lithium prices are currently depressed and weighing on company valuations across the sector, the long-term fundamentals for lithium remain robust with 17% per annum demand growth through 2030. As the largest independent lithium development project in Argentina, Kachi will play an important role in supplying battery-grade lithium carbonate to the automotive and energy storage sectors.