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Standard Lithium Ltd.

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Summary

Project:

Smackover

Deposit:Smackover
Location:United States
Commodities:Lithium
Date:11/14/2018
Report Code:NI43-101
Report Type:Resource Estimation
Project Stage:Pursuing Resource Increase/Upgrade
Report details:14-11-2018: Standard Lithium Ltd. announces a Resource Estimation report for its Smackover deposit at the Smackover project. Initial mineral resource estimate at Smackover. Vancouver, BC November 14, 2018 – Standard Lithium Ltd. (“Standard Lithium” or the
Resources:(Resource, Inf.): 3086000t LCE contained
CP/QP:[Resources]: Roy Eccles (APEX Geoscience Ltd.)
ABSTRACT:Vancouver, BC November 14, 2018 – Standard Lithium Ltd. (“Standard Lithium” or the “Company”) (TSXV: SLL) (OTCQX: STLHF) (FRA: S5L), is pleased to report a maiden lithium resource statement for its 150,000 acre Project in the south-central region of Arkansas, USA (the “Property”; see Company news release 9th May 2018). The maiden resource report, detailed in Table 1 below, includes 3,086,000 metric tonnes of lithium carbonate equivalent (LCE) at the Inferred Resource category (see notes [4] and [5] below). The lithium brine Inferred Resource, as reported, is contained within the Reynolds Member of the Smackover Formation, a Late Jurassic oolitic limestone aquifer that underlies the entire Property. This brine resource is in current commercial production for the purpose of recovering bromine from the brine. The bulk of the numerical data used to model the resource were gathered from a network of existing production and disposal wells distributed across the Property. Abundant data demonstrate that the Reynolds Member is present across the entirety of the Property, and that it is not affected by faulting. The resource is defined across a total footprint of approximately 150,000 acres, or 775 km2 , which is comprised of over 10,000 separate brine leases. The total lease area is separated into three specific areas, or ‘Units’, that each function as standalone brine production, processing and reinjection operations. The commercial extraction of bromine from brines sourced from the Reynolds Member aquifer commenced in the late 1950’s and is currently ongoing. The depth, shape, thickness and lateral extent of the Reynolds Member was mapped out using data from 699 wells that penetrated the top of the aquifer; 198 wells that penetrated the base of the aquifer; and 620 km of proprietary 2D seismic data. Thirty-one of the wells had full downhole geophysical logs, including detailed density and/or porosity data throughout the Reynolds Member. Detailed porosity and permeability data were gathered from core-plug samples taken from 17 active brine supply and reinjection wells distributed across the Property. In total, data from 2,329 core plugs, as well as 14,314 measurements from downhole geophysical logs were used to define the effective porosity distribution throughout the Reynolds Member aquifer.

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