26 November 2020

LAKE’S HIGH PURITY LITHIUM CARBONATE TO PRODUCE FIRST LITHIUM

BATTERIES AT NOVONIX

• First samples of Lake’s high 99.97% purity lithium carbonate sent to Novonix in Canada to produce

high-performance lithium-ion batteries.

• Novonix (ASX:NVX) provides high technology battery testing equipment to Tier 1 battery makers

giving Lake global exposure.

• Hazen continues to produce high purity 5kg-6kg carbonate samples using a simple flowsheet from

lithium chloride produced at the Lilac Solutions pilot plant module from Lake’s Kachi brines.

• Novonix program will be undertaken over four months with first results anticipated in February.

Clean lithium developer Lake Resources NL (ASX:LKE; OTC:LLKKF) is pleased to confirm that Hazen Research

Inc (Hazen), has dispatched the first samples of Lake’s high purity 99.97% lithium carbonate, produced from

Kachi brines, to Novonix Battery Technology Solutions in Nova Scotia, Canada for the production of NMC622-

based lithium-ion battery test cells.

Novonix Limited (ASX:NVX; OTCQX:NVNXF) provides high precision battery testing equipment to Tier 1 battery

makers including Panasonic, CATL, Samsung, SK Innovation, LG Chem, Bosch, Honda and Dyson. Novonix is

preparing to begin the testing of Lake’s lithium carbonate with the the preliminary cathode precursor lithiation

followed by full pilot scale evaluation.

Using Novonix’s pilot cell line, Lake’s high purity, responsibly sourced lithium carbonate samples will be used

together with commercial battery cathode precursor materials to form a NMC622 cathode that will then be

processed into NMC622 lithium-ion batteries for testing. This will enable Lake and its potential partners and

customers to make direct and relevant comparisons of Lake’s lithium product’s performance in familiar battery

chemistries.

Novonix anticipates this testing process to take a minimum of four months, with the first results expected

approximately two months after the cathode material is produced. Lake will update the market once results

become available.

Hazen will continue to produce lithium carbonate, targeting 5kg to 6kg of samples in this round derived from

the first 20,000 litres of Kachi brines (refer ASX announcement 20 October 2020). A further 20,000 litres of

brine is stored with Lilac whilst additional brines are currently being prepared for transport from site to

produce more samples to meet increased demand, given recent successful results (refer same ASX

announcement 20 Oct 2020).

High purity lithium carbonate results have been obtained via a simple flowsheet without any anticipated

changes to the operating costs previously forecast in Kachi’s Pre-Feasibility Study (refer ASX announcement 28

April 2020), which is a great result for the Company and the sector. Low impurities are a key factor in

determining battery quality and the pricing and acceptance of lithium products. Lake’s high purity carbonate

offers the potential for premium prices.

https://backend.otcmarkets.com/otcapi/company/dns/news/document/45471/content

Directors

Mr Stuart Crow Non Exec. Chairman

Mr Stephen Promnitz Executive Director

Dr Nick Lindsay Non Exec. Director

Dr Robert Trzebski Non Exec. Director

Mr Garry Gill CFO

Secretaries

Ms Sinead Teague Company Secretary

Mr Garry Gill Joint Co. Secretary

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