*  70/30 JV in favor of Lanxess AG with an option for Standard Lithium to achieve 40% subject to attaining certain milestones, Standard Lithium Ltd. Standard Lithium signed a term sheet with Lanxess AG for a JV in the commercial production of battery grade lithium from brine extracted from the Smackover Formation in south Arkansas. The Smackover Formation brines are one of the largest source of bromine in the world, but the brine also contains significantly elevated levels of lithium – typically ranging from 150 to 500 mg/L. The resource underlies a total of 807 separate brine leases and eight brine mineral deeds which form a patchwork across Columbia and. Standard Lithium CEO Robert Mintak said, “Firstly, I would like to acknowledge the impressive efforts made both by our Arkansas and Canadian engineering teams … Bromine production followed oil production in Union County in 1957 and has continued ever since. The property consists of 11,033 net hectares (27,262 net acres) leased by TETRA, and the resource estimate was only modeled for that footprint. The process can reduce the time required for Li extraction from months (with the evaporation ponds) to hours and is capable of producing a high-purity LiCl solution for further processing in the battery industry. The Company’s flagship project, the 150,000+ acre “Lanxess Project”, is located in the prolific and productive Smackover brine region of southern Arkansas. Combine this with a pro-business environment, a region with more than five decades for commercial brine production, the associated infrastructure; pipelines, well fields, low-cost power, road, rail and a highly skilled work force. Once minerals have been extracted the waste brine (tail brine) is re-injected back into the  Smackover Formation aquifer. The company’s flagship project is located in southern Arkansas, where it is engaged in the testing and Lanxess operates three, TETRA Technologies operates a processing plant in, the area,  Albemarle Corporation (formerly Ethyl Corporation) operates two bromine processing plants in, 70/30 JV in favor of Lanxess AG with an option for, Lithium to achieve 40% subject to attaining certain milestones, - Subject to proof of concept & positive feasibility study, Top: Map of Lanxess Project South Central Arkansas, Bottom: Lanxess Southern Brine Plant, approximately 40km west of the Lanxess project. [3] The resource estimate was completed and reported using a cut-off of 50 mg/L lithium. [5] In order to describe the resource in terms of ‘industry standard’ lithium carbonate equivalent, a conversion factor of 5.323 was used to convert elemental lithium to LCE, Top: Simplified Flowsheet, Bottom: LiSTR Demonstration Plant at Zeton fabrication facility May 2019, Highly porous aquifer stores & moves brine easily, Annual production: 20,900 tonnes lithium carbonate, Total capital expenditures estimate of US$437 Million, Non-optimised reagent cost per tonne lithium carbonate of US$3,107, All-in operating costs, including all direct and indirect costs, reagent, sustaining capital, insurance and mine-closure costs of US$4,319 per tonne of lithium carbonate, Average selling price $13,550 USD per tonne battery quality lithium carbonate, Pre-tax US$1.3 Billion NPV at 8% discount rate and IRR of 42%, Post-tax US$ 989 Million NPV an 8% discount rate and IRR of 36%, Resource upgraded to 3,140,000 tonnes Lithium Carbonate Equivalent (LCE) at the Indicated Category. Preliminary Feasibility Study etc.) It is then chemically treated to create the final product of lithium carbonate, or further processed to lithium hydroxide. info@standardlithium.com. There is no guarantee that all or any part of the mineral resource will be converted into a mineral reserve. Standard Lithium’s patent-pending direct lithium extraction process is the key to unlocking this strategic domestic critical mineral resource. [4] The resource estimate was developed and classified in accordance with guidelines established by the Canadian Institute of Mining and Metallurgy. The three bromine extraction plants currently employ approximately 500 people, have been in production for nearly five decades, and produce roughly 5.3 billion gallons of brine annually. This means that no additional energy is required, and the reaction kinetics for the adsorption are suitable. Then, chemists from the Arkansas Geological Commission (now the, ) discovered that the Smackover Formation brines had high bromine content—seventy times greater than that of ocean water. The ceramic adsorbent materials are mounted in stirred-tank reactors that contain the tail brine. High Porosity is present throughout the project area. Average annual brine production between 2010 and 2016 is estimated at 42.6 million m3 (9.4 Billion US Gallons) from Arkansas Oil and Gas Commission data. About Standard Lithium Ltd. Standard Lithium (TSXV: SLL) is an innovative technology and lithium development company. Notes:[1] Mineral resources are not mineral reserves and do not have demonstrated economic viability. Standard Lithium : Marks Commencement of Operations at Arkansas Plant with a Virtual Ribbon Cutting Ceremony | MarketScreener The Li-extraction process (diagram) takes advantage of the fact that the brine leaves the bromine process heated to approximately 70°C. 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