• Placement Options Offer of up to 166,666,000 New Options
• Broker Options Offer of up to 30,000,000 New Options
• Director Options Offer of up to 75,000,000 New Options

Lake Resources N.L. is issuing a prospectus for the offer of up to 166,666,000 New Options to participants in a recent placement, up to 30,000,000 New Options to Evolution Capital, and up to 75,000,000 New Options to the Directors of the Company. All New Options will be offered on the terms set out in Section 5.2, exercisable at $0.05 per Share and expiring on the date that is 3 years from issue. Completion of each Offer is conditional upon the satisfaction of the Offer Conditions set out in Section 2.3, including the receipt of Shareholder approval for the issue of New Options. The Offers are not underwritten, and no proceeds will be made from the issue of the New Options as the Offer is being made for nil consideration. However, proceeds will be raised from the exercise of each New Option, if and when such New Option is exercised by the acquirer.