LAKE RESOURCES N.L. — Capital/Financing Update 2011

Mar 6, 2011

Appendix 3B New issue announcement

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003, 24/10/2005.

Name of entity

LAKE RESOURCES N.L.

ABN

49 079 471 980

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

1 +Class of +securities issued or to be issued ORDINARY SHARES 2 Number of[+] securities issued or 26,070,388 to be issued (if known) or maximum number which may be issued

3 Principal terms of the[+] securities (eg, if options, exercise price and expiry date; if partly paid NON-RENOUNCEABLE PRO-RATA ISSUE +securities, the amount -SHORTFALL PLACEMENT outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)

• See chapter 19 for defined terms.

Appendix 3B Page 1

24/10/2005

Appendix 3B New issue announcement

4 Do the+securities rank equally in all respects from the date of allotment with an existing+class of quoted+securities? If the additional securities do not rank equally, please state: • the date from which they do • the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment • the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment 5 Issue price or consideration 6 Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets) 7 Dates of entering +securities into uncertificated holdings or despatch of certificates 8 Number and +class of all +securities quoted on ASX (including the securities in clause 2 if applicable)	YES	YES
	$0.05/SHARE
	CONTINUATION OF EXPLORATION ACTIVITIES IN PAKISTAN
	7 MARCH,2011.
	Number	+Class
	70,323,026	ORDINARY SHARES, FULLY PAID

• See chapter 19 for defined terms.

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24/10/2005

Appendix 3B New issue announcement

Number +Class 9 Number and +class of all +securities not quoted on ASX N/A ( including the securities in clause 2 if applicable) 10 Dividend policy (in the case of a trust, distribution policy) on N/A the increased capital (interests)

Part 2 - Bonus issue or pro rata issue N/A

11 Is security holder approval required? 12 Is the issue renounceable or non- renounceable? 13 Ratio in which the+securities will be offered 14 +Class of+securities to which the offer relates 15 +Record date to determine entitlements 16 Will holdings on different registers (or subregisters) be aggregated for calculating entitlements? 17 Policy for deciding entitlements in relation to fractions 18 Names of countries in which the entity has+security holders who will not be sent new issue documents Note: Security holders must be told how their entitlements are to be dealt with. Cross reference: rule 7.7. 19 Closing date for receipt of acceptances or renunciations	NO
	NON-RENOUNCEABLE
	ONE FOR ONE
	ORDINARY SHARES
	25 OCTOBER, 2010
	YES
	ROUNDING UP
	PAKISTAN, INDONESIA, HONG KONG, SWITZERLAND
	7 MARCH,2011.

• See chapter 19 for defined terms.

Appendix 3B Page 3

1/1/2003

Appendix 3B New issue announcement

20 Names of any underwriters 21 Amount of any underwriting fee or commission 22 Names of any brokers to the issue 23 Fee or commission payable to the broker to the issue 24 Amount of any handling fee payable to brokers who lodge acceptances or renunciations on behalf of+security holders 25 If the issue is contingent on +security holders’ approval, the date of the meeting 26 Date entitlement and acceptance form and prospectus or Product Disclosure Statement will be sent to persons entitled 27 If the entity has issued options, and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders 28 Date rights trading will begin (if applicable) 29 Date rights trading will end (if applicable) 30 How do+security holders sell their entitlements_in full_through a broker? 31 How do+security holders sell part of their entitlements through a broker and accept for the balance?	N/A
	N/A
	N/A
	N/A
	N/A
	N/A
	29 OCTOBER ,2010
	N/A
	N/A
	N/A
	N/A
	N/A

• See chapter 19 for defined terms.

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1/1/2003

Appendix 3B New issue announcement

32 How do +security holders N/A dispose of their entitlements (except by sale through a broker)?

33 +Despatch date

7 MARCH,2011.

Part 3 - Quotation of securities

You need only complete this section if you are applying for quotation of securities

• 34 Type of securities ( tick one )

• (a) X Securities described in Part 1

• (b) All other securities

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

• 35 X If the[+] securities are[+] equity securities, the names of the 20 largest holders of the additional[+] securities, and the number and percentage of additional +securities held by those holders

• 36 X If the +securities setting out the number of holders in the categories[+] securities are[+] equity securities, a distribution schedule of the additional

1 - 1,000 1,001 - 5,000 5,001 - 10,000 10,001 - 100,000 100,001 and over

• 37 A copy of any trust deed for the additional[+] securitiesN/A

• See chapter 19 for defined terms.

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1/1/2003

Appendix 3B New issue announcement

Entities that have ticked box 34(b) 38 Number of securities for which +quotation is sought 39 Class of +securities for which quotation is sought 40 Do the+securities rank equally in all respects from the date of allotment with an existing+class of quoted+securities? If the additional securities do not rank equally, please state: • the date from which they do • the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment • the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment 41 Reason for request for quotation now Example: In the case of restricted securities, end of restriction period (if issued upon conversion of another security, clearly identify that other security)	N/A

Number +Class 42 Number and +class of all +securities quoted on ASX ( including the securities in clause 38)

• See chapter 19 for defined terms.

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1/1/2003

Appendix 3B New issue announcement

Quotation agreement

• 1 +Quotation of our additional +securities is in ASX’s absolute discretion. ASX may quote the[+] securities on any conditions it decides.

• 2 We warrant the following to ASX.

• The issue of the[+] securities to be quoted complies with the law and is not for an illegal purpose.

• There is no reason why those[+] securities should not be granted +quotation.

• An offer of the[+] securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any[+] securities to be quoted and that no-one has any right to return any[+] securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the[+] securities be quoted.

• If we are a trust, we warrant that no person has the right to return the[+] securities to be quoted under section 1019B of the Corporations Act at the time that we request that the[+] securities be quoted.

• 3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.

• 4 We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before +quotation of the +securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

Sign here: Date:7 March 2011..

(Director/Company secretary) Print name: ..PETER JOHN GILCHRIST.......................................................

== == == == ==

• See chapter 19 for defined terms.

Appendix 3B Page 7

24/10/2005

PAGE NUMBER : 1 REPORT DATE : 07/03/2011 REPORT TIME : 13.13.42

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LAKE RESOURCES NL

FIRST 20 INVESTORS REPORT

FIRST 20 INVESTORS REPORT
MONDAY 7 MARCH 2011 Current Rank Investor Balance Security: LKE - ORDINARY FULLY PAID SHARES 1 HSBC CUSTODY NOMINEES 14,002,000 (AUSTRALIA) LIMITED 2 KHATTAR CAPITAL INTERNATIONAL 5,000,000 PTE LTD 3 KEMKAY PTY LTD 3,841,920 4 BUSHFLY AIR CHARTER PTY LTD 3,290,020 5 LAWNBET PTY LIMITED 2,400,000 6 INVIA CUSTODIAN PTY LIMITED 2,346,705 7 TRENLIN PTY LIMITED 2,092,222 8 ROBERT TAN KAH BOH 2,000,000 9 CHNG SENG CHYE 2,000,000 10 MR JAMES CLAVARINO 1,549,400 11 RONSON INVESTMENTS PTY LTD 1,440,000 12 QUEENSLAND ENERGY PTY LTD 1,268,508 13 BENSONS OF BRISBANE PTY LTD 1,020,000 14 JAN MUHAMMAD 1,000,000 15 MRS LILIANA TEOFILOVA 1,000,000 16 CALAMA HOLDINGS PTY LTD 835,608 17 MR PAUL RAYMOND FROST 800,000 18 DR ALEXANDRA CLAVARINO 750,000 19 ASSET CUSTODIAN NOMINEES 675,000 (AUST) PTY LTD	% Issued Capital
	19.91% 7.11% 5.46% 4.68% 3.41% 3.34% 2.98% 2.84% 2.84% 2.20% 2.05% 1.80% 1.45% 1.42% 1.42% 1.19% 1.14% 1.07% .96%

PAGE NUMBER : 2 REPORT DATE : 07/03/2011 REPORT TIME : 13.13.42

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LAKE RESOURCES NL

FIRST 20 INVESTORS REPORT

MONDAY 7 MARCH 2011

		FIRST 20 INVESTORS REPORT MONDAY 7 MARCH 2011
	Rank 20	Investor PARCENT HOLDINGS PTY LTD	Current Balance 672,388	% Issued Capital
				.96%
		Investors TOTAL FOR TOP 20: 47,983,771 20		68.23%
		Investors TOTAL IN THIS REPORT: 47,983,771 20 TOTAL OTHER INVESTORS: 22,339,255 560 GRAND TOTAL: 70,323,026 580		68.23% 31.77% 100.00%

end of report

PAGE NUMBER : 1 REPORT DATE : 07/03/2011 REPORT TIME : 13.11.36

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LAKE RESOURCES NL

INVESTOR RANGES MONDAY 7 MARCH 2011

Ranges Investors Securities % Issued Capital

Security Code : LKE ORDINARY FULLY PAID SHARES

Totals for Security Code LKE

1 to 1000	9	3,577	.01
1001 to 5000	81	253,879	.36
5001 to 10000	151	1,328,105	1.89
10001 to 100000	274	8,366,478	11.90
100001 and Over	65	60,370,987	85.85
Total	580	70,323,026	100.00

The number of security investors holding less than a marketable parcel of 7937 securities ($.063 on 09/02/2011) is 139 and they hold 588080 securities.

end of report