LAKE RESOURCES N.L. — Capital/Financing Update 2018

Jan 30, 2018

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LAKE RESOURCES N.L. (ASX:LKE)

ASX Market Announcements Office 31 January 2018

LAKE RESOURCES N.L. COMPLETES ISSUE OF UNSECURED NOTES

Further to Lake Resources N.L. (ASX:LKE, “Lake” or “the Company”) announcement of 3 November 2017, the Company is pleased to confirm that it has completed the issue of 1,665,000 unsecured notes ( Notes ) to sophisticated and professional investors, raising a total of $1.665 million for the Company.

As previously announced, the funds raised through the issue of these Notes will be used by Lake for exploration expenditure, including the costs of advancing drilling and working capital.

For further information please contact:

Steve Promnitz Managing Director +61 2 9188 7864 steve@lakeresources.com.au

http://www.lakeresources.com.au

Released through: Henry Jordan, Six Degrees Investor Relations: +61 (0) 431 271 538

Follow Lake Resources on Twitter:

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https://twitter.com/Lake_Resources

Background on Lake Resources NL (ASX:LKE)

Lake Resources NL (ASX:LKE, Lake) is undertaking an aggressive exploration programme to explore and develop prime lithium projects in Argentina, owned 100%, among some of the largest players in the lithium sector. Lake holds one of the largest lithium tenement packages in Argentina (~170,000Ha) secured prior to a significant ‘rush’ by major companies with three key lithium brine projects located in the Lithium Triangle which produces half of the world’s lithium. Lake also holds one large package of lithium pegmatite properties which were an unappreciated source of lithium in Argentina until recently.

The three key brine projects, Olaroz/Cauchari, Paso and Kachi, have similar settings to major world class brine projects being developed in the highly prospective Jujuy and Catamarca Provinces. One project is located next to Orocobre’s Olaroz lithium production and SQM/Lithium Americas Cauchari project. The Kachi project covers ~52,000 Ha over a salt lake south of FMC’s lithium operation and near Albemarle’s Antofalla project. Exploration and permitting will provide several catalysts for the company’s growth as these areas are assessed for major discoveries.

Significant corporate transactions continue in adjacent leases with development of SQM/Lithium Americas Olaroz/Cauchari project with an equity/debt investment over $300 million and Advantage Lithium’s equity transaction in some of Orocobre’s leases. LSC Lithium has also raised over $60 million on a large lease package in similar areas as Lake’s properties.

Lake Resources N.L. (ABN 49 079 471 980) ASX:LKE Suite 2, Level 10, 70 Phillip St, Sydney NSW 2000, Australia T: +61 2 9188 7864 E: lakeresources@lakeresources.com.au