• Firm commitments to raise up to A$12 million via placement to sophisticated and professional investors
• Funds will be used to progress activities for the Kachi Project including final environmental approvals and power solutions
• Existing shareholders to receive Bonus Loyalty Options

Lake Resources N.L. (ASX:LKE; OTC:LLKKF) has received firm commitments to raise up to A$12 million (before costs) via a placement to sophisticated and professional investors. The placement has received strong support from domestic and international institutional and sophisticated investors, leading to the introduction of new high-quality investors to Lake's register. The placement follows recently announced material improvements in the resource and economics of Lake's Kachi Project. Funds raised from the placement will be used for operating and general expenditures to progress multiple activities for Kachi including final environmental approvals and the optimisation of commercial power solutions. Lake intends to reward existing shareholders with the issue of Bonus Loyalty Options based on one (1) option for every ten (10) shares held at a soon to be set record date. Investors participating in the placement will also be offered one (1) option for every two (2) shares acquired. The placement will be conducted in two tranches, with the first tranche seeking to raise approximately A$9.5 million through an issue of new shares using the company's available placement capacity, and the second tranche (subject to shareholder approval) seeking to raise an additional approximate A$2.5 million. All options are proposed to be quoted on the ASX and the issue of all options (other than the Bonus Loyalty Options) will be subject to shareholder approval and meeting ASX's minimum listing requirements. Lake will have a strong 30 June 2025 pro-forma cash balance of up to approximately A$28 million (before costs).