Lake Resources NL confirmed that the production base case will be increased to 50,000 tons per annum lithium carbonate equivalent (LCE) in the Definitive Feasibility Study (DFS) and the final investment decision (FID) for the Kachi Lithium Project. The DFS will be expanded from 25,500 tpa LCE to 50,000 tpa LCE, underpinned by an anticipated increased resource estimate from drilling results. The formal decision has been driven by: 1. the increasing demand by prospective offtake partners for a secure supply chain of environmentally friendly high purity lithium carbonate; 2. the indicative support to fund the project by Export Credit Agencies and the international bank panel.

The UK and Canada Export Credit Agencies have already indicated a willingness to project debt finance around 70% of the project's capital requirements; 3. the supportive investment policies of the Argentine Government who have announced a process to lower export taxes as part of the Strategic Plan for Mining Development; 4. the confidence of technology partner Lilac Solutions that its modular direct lithium extraction technology is scalable and cost effective.