Announcement PDF ASX ANNOUNCEMENT 3 June 2025 Amendments to Resource Update Published 14 May 2025 Lake Resources N.L. (ASX: LKE; OTC: LLKKF) (the “Company”), at the request of ASX, wishes to advise of amendments to the Resource Update released on 14 May 2025 (“14 May Resource Update”). The Company advises that the 14 May Resource Update has been amended as follows: • Page 34 has been amended to clarify future drilling activities at the Kachi Project in relation to the exploration target. JORC Table 1, Section 2 – Reporting of Exploration Results, Sub-Section “Further Work” on page 59 has similarly been amended to include a cross reference to the changes made on page 34. • Page 37 has been amended to include further information regarding the basis for the cut-off grade used. • Page 40 has been amended to provide additional information regarding the Competent Person Statement specifically to include a reference to the Competent Person taking responsibility for the exploration target. • Table 8 Resource Drillhole Collars, from page 44 to page 50, has been amended to (i) include the elevation (metres above sea level) of the drillhole collars, found in the fourth column from the left and (ii) include additional information in the notes at the end of the table pertaining to the inclusion of the elevation column. • JORC Table 1, Section 3 – Estimation and Reporting of Mineral Resources, SubSections “Database integrity”, “Cut-off parameters”, “Mining factors or assumptions”, “Metallurgical factors or assumptions”, “Environmental factors or assumptions”, and “Audits or reviews”, from page 61 to page 68 have been amended to include additional detail and commentary regarding modifying factors. Please refer to the attached amended document incorporating the above amendments. Page numbers listed above reference the page numbers included on the attached amended document. This announcement has been approved for released by the Company. Should you have any questions in relation to this matter please direct your queries to the nominated Company contacts below. For investor queries, please contact: InvestorRelations@lakereources.com.au or log onto Investor Hub through Lake’s public website. For media queries, please contact: Katherine Kim at Teneo M: +61 2 9063 5119 E: Katherine.Kim@teneo.com About Lake Resources N.L. (ASX: LKE OTC: LLKKF) Lake Resources N.L. (ASX: LKE, OTC: LLKKF) is a responsible lithium developer utilising state of-the-art ion exchange extraction technology for production of sustainable, high purity lithium from its flagship Kachi Project in Catamarca Province within the Lithium Triangle in Argentina. This ion exchange extraction technology delivers a solution for two rising demands – high purity battery materials to avoid performance issues, and more sustainable, responsibly sourced materials with low carbon footprint and significant ESG benefits. ASX ANNOUNCEMENT 3 June 2025 Lake Resources JORC Update Increases Measured and Indicated Resource to 8.2 Mt LCE from 7.3 Mt LCE1 UPDATE HIGHLIGHTS  Measured Resource has grown by more than 1.1 Mt of lithium carbonate equivalent (LCE) to 4.2 Mt LCE (a more than 25% increase), defined to a depth of 600 meters over 83 square kilometres.  The Measured and Indicated Resource has grown by approximately 10% or 0.9 Mt LCE to 8.2 Mt LCE.  The updated total resource is 11.1 Mt of LCE over 275 square kilometres.  This Mineral Resource Estimate (MRE) update incorporates K25D44, which was the second drillhole in the southern sector of the salar to be advanced beyond 600 meters below ground surface (m bgs).  K25D44 sample results from the planned production interval in the 2023 Feasibility Study between 200 m bgs and 400 m bgs averaged 274 mg/L.  The results from K24D41 and K25D44, both in the southern sector of the salar, are indicative of a higher-grade lithium zone.  The updated geologic model including the lithium concentration and drainable porosity values will be used in forthcoming updates to the Ore Reserve estimate and related hydrogeologic model.  Upgrades from Lilac’s Gen3 to Gen4 media significantly increases lithium recovery rates2. These improvements will allow for fewer extraction and injection wellfields in the updated Ore Reserve. Lake Resources N.L. (ASX: LKE; OTC: LLKKF) (“Lake” or “the Company”) is pleased to provide an updated resource estimate for the Kachi lithium brine Project (“Kachi” or the “Project”) in Catamarca Province, Argentina. The updated resource estimate is based on the incorporation of previously announced K25D44 drilling and testing3 results that were received since the last Mineral Resource update in November 20234. 1 Refer to ASX announcement dated 22 November 2023. 2 Lilac Solutions Inc., 2024. Technical While Paper – Unlocking lithium brine production with ion exchange. September 2024. 3 Refer to ASX announcement dated 12 February 2024. 4 Refer to ASX announcement dated 22 November 2023. This resource update defines the Mineral Resources to be used in the updated hydrogeologic modelling analysis for the update to the Phase 1 Project Definitive Feasibility Study (DFS) capital and operating expenditure estimates currently underway. K24D41 has grades of 180-348 mg/L lithium over 445 m (166 – 610 m), with an average of 267 mg/L5. Over the planned DFS production interval (i.e., 200 m bgs to 400 m bgs), the samples averaged 292 mg/L lithium. K25D44 has grades of 40 mg/L to 302 mg/L over 582 m (40 m to 622 m bgs) with an average of 219 mg/L. However, all samples beyond 200 m depth are well above the average and sample results from the planned production interval in the 2023 Feasibility Study between 200 m bgs and 400 m bgs averaged 274 mg/L. The results from these two drillholes within planned production interval averages of 274 mg/L and 292 mg/L reveal the emergence of a higher-grade lithium zone in the southern portion of the salar. The continuity of the hydrostratigraphy and brine chemistry between these two drillholes between 400 m and 600 m depth is the main driving factor to the increase in Measured Resource since November 2023. The Kachi Project has shown continual increases in mineral resource estimates (Figure 1) since the maiden resource estimate of 4.4 Mt of contained LCE in Inferred and Indicated categories was announced in November 20186:  The resource was significantly upgraded in January 2023 with a Measured and Indicated Resource of 2.2 Mt of LCE and approximately 3.1 Mt of LCE as Inferred mineral resources7.  The total resource was again increased in June 2023 with more than 2.9 Mt of LCE in Measured and Indicated Resource and approximately 5.2 Mt of LCE in the Inferred Resource category for a total resource estimate of more than 8.2 Mt of LCE8.  The Measured and Indicated Resource expanded again in November 2023 to 7.3 Mt LCE with 3.3 Mt LCE of Inferred Resource for a total resource estimate of over 10.6 Mt LCE9.  The current Measured and Indicated Resource (“M&I”) increased to approximately 8.2 Mt LCE (Figure 1 and Table 1), as Inferred and, to a lesser extent, Indicated Resources were classified as Measured (Figure 2 and Figure 3 present resource areas).  Pumping and Injection testing detailed in August 202310 demonstrated that the lithium reservoir in the resource area is permeable and that productive wells can be drilled and constructed for extraction and injection.  The pumping and injection test data were used to calibrate a hydrogeological model used to simulate the planned extraction and injection wellfields inclusive of lithium concentrations and flow rates through time, which formed the basis of the Ore Reserve Estimate11.  Project engineering, mine plan and financial modelling results were summarized in the DFS12 completed in December 2023. 5 Refer to ASX announcement dated 4 October 2023. 6 Refer to ASX announcement dated 27 November 2018. 7 Refer to ASX announcement dated 11 January 2023. 8 Refer to ASX announcement dated 15 June 2023. 9 Refer to ASX announcement dated 22 November 2023. 10 Refer to ASX announcement dated 16 August 2023. 11 Refer to ASX announcement dated 19 December 2023 (“Maiden Ore Reserve Defined”). 12 Refer to ASX announcement dated 19 December 2023 (“Kachi Project Phase One Definitive Feasibility Study”). 2 Figure 1. Change in M&I and Inferred Lithium Resource since 2018 Figure 2. Change in M&I and Inferred Lithium Resource since 2018 Table 1. Updated Resource Summary13 Resource Category Lithium (Tonnes) LCE (Tonnes) Measured (M) 788,000 4,191,000 Indicated (I) 751,000 3,998,000 M&I 1,539,000 8,189,000 Inferred 542,000 2,885,000 Total Resource 2,082,000 11,074,000 Jonah Smith, Vice President of Operations, noted: “The increase in Measured and Indicated Resources further derisks the Project and demonstrates the high level of confidence in the chemistry and continuity of the brine in the subsurface over an expansive area.” 13 See Table 3 below for additional detail on the resource breakdown by category and unit. 3 Figure 3. Diagram showing the Measured (purple) and Indicated Resources (pink), with the surrounding area of Inferred Resource (orange) for 0 to 400m. 4 Figure 4. Plan view map of the Indicated Resources (red), with the surrounding area of Inferred Resource (orange) at a depth of 400 – 600m A summary of the assessment is provided in the subsequent sections. 5 PROJECT BACKGROUND The Kachi Project is located on the Carachi Pampa basin at the south end of the Puna geographical region, Argentina (Figure 4). The modern-day Puna Region is the southern continuation of the Bolivian Altiplano with an average elevation of 4,400 meters above mean sea level (amsl) although Project elevations are considerably lower, about 3010 amsl, which provides considerable advantages from a climate and operations perspective. Figure 4. Kachi Project Location and Layout PROPERTY HOLDINGS Lake Resources holds 53 mineral leases (Minas) in the Basin covering the surface of the salar and surrounding areas (Figure 5). The mineral leases are summarized in Table 7 below (following the text), with the property names, file numbers, and details of the approvals related to each of the concessions. All information regarding the legal status of the properties was provided by the members of the Legal Department of Morena del Valle Minerals S.A. (MVM), Lake Resources’ local subsidiary in the Province 6 of Catamarca. The status of properties has not been independently verified by the Competent Person, who takes no responsibility for the legal status of the properties. Figure 5. Kachi Project Mineral Concessions GEOLOGY AND GEOLOGICAL INTERPRETATION The Carachi Pampa basin is an arid, closed basin comprised of interbedded lacustrine and alluvial sediments of gravels, sands, silts, and clays, with episodic volcanic deposits of ignimbrites, tuffs, and basalts (Figure 6). The basin is bounded to the east and west by north-south trending mountain ranges formed by thrust faulting exposing basement sequences in outcrops that rise to an elevation of about 5,100 m amsl. The Cerro Blanco pyroclastic complex is located on the south of the basin and is the primary source of the pyroclastic flows that deposited the ignimbrites and tuffs, while the Antofagasta de la Sierra and the Cerro Galan volcanic complex form the highlands in the north and northeast borders of the basin. The ranges to the east are composed of crystalline pre-Cambrian basement that gently slopes down to the basin floor. Red bedded sandstone and claystone sequences of the Geste and Patqia de la Cuesta Formations outcrop in the Los Colorados Range along the western edge of the basin. Extensive alluvial fan deposits form to the north, south, east and west of the central salar as 7 coarse-grain, high energy sediments were shed from the nearby steep terrains. Altogether the basin drains a watershed area of 9,494 km2. Figure 6 Geology of the Kachi Project Area The centre of the basin is dominated by the Quaternary basalt flows and the cider-cone of the Carachi Pampa Volcano. The volcano penetrates basin sediments to the east of the salar, with flow and air fall basalts creating a veneer over the lacustrine sediments. The volcano has a northwest-southeast striking fissure vent that is interpreted to be underlain by a northwest-southeast aligned intrusive dyke or plug of much smaller dimensions than the basalt cone has at the surface. Salars occur in closed basins with no external drainage in dry desert regions where evaporation rates exceed surface and groundwater recharge rates. Evapo-concentration of surface water and groundwater in these basins results in the concentration of dissolved salts that eventually develop saline brines. Two types of salars are classified by Houston et al. (2011)14: 1) mature, halite dominant and 2) immature, clastic dominant. Kachi appears to be transitioning from an immature, clastic dominated salar, to a more mature system with the beginning formation of a surficial salt layer with halite that extends to several meters depth. The salar sediments are predominantly intercalated sands and clayey silts (Figure 7), which constitute a leaky aquifer, with the entire sequence of sediments potentially contributing brine flow to wells. Higher brine flows are obtained from intervals with high sand content and higher permeability, with the brine grades generally comparable between geological units. The salar is surrounded by alluvial and aeolian fans of varying dimensions and significance. Most important are the Western Fan Complex and South Fan (see West Fan on Figure 7) which have intercepted coarse-grained lithium bearing brines. The North Fan is also important as coarse-grained lithium bearing brines have also been intercepted in this 14 Houston, J., Butcher, A., Ehren, P., Evans, K., and L. Godfrey. The Evaluation of Brine Prospects and the Requirement for Modifications to Filing Standards. Economic Geology, v. 106, pp. 1225–1239 8 sector and the sector is host to a substantial freshwater aquifer or wedge, that overlies the lithium bearing brines. Older sediments Basin Bounding Fault Figure 7. Conceptual hydrogeologic section through the Kachi Project, looking towards the northeast. Pumping and injection tests completed in August 202315 on two different test wells indicate that the finegrained sand reservoir of the central resource area is permeable, with measured hydraulic conductivity values in the range of 2 to 4 m/d. The testing indicates that appropriately designed production wells with 200-m well screens could produce more than 65 litres per second (L/s). The testing also provides a proof-of-concept for the operation of injection wells in the central resource area. The wellfield development plan in the DFS consists of 16 extraction wells and 21 injection wells (Figure 8). The wellfield is designed to:  Maintain the pressure in the subsurface as close as possible to baseline conditions in the laguna and springs east of the extraction area.  Minimize the potential for dilution of the lithium brine resource during operations, and as much as possible potential future operations.  Create hydraulic gradients that facilitate the flow of lithium rich brine to the extraction wells.  Maintain pressure in the extraction horizon to maintain high flow rates, minimize drawdown and minimize subsidence and consolidation risks. The improved lithium recovery rates associated with the Gen4 Lilac media in combination with higher concentrations of lithium from the last two holes of the 2023 drilling program at the K24 and K25 platforms present an opportunity to further optimize the wellfield designs in forthcoming hydrogeologic modelling for the Ore Reserve update. 15 Refer to ASX announcement dated 16 August 2023. 9 Figure 8. Wellfield Layout and Hydrogeologic Model Grid Used in Previous Reserve Modelling16 16 Refer to ASX announcement dated 19 December 2023 (“Maiden Ore Reserve Defined”). 10 DRILLING AND SAMPLING TECHNIQUES Brine samples from the characterization program have been collected with a variety of sampling methods including:  Packer (single and double);  Test well development and long-term pumping tests;  Installed piezometer screens (airlifting);  Spearpoint; and,  Bailer. Conventional mud rotary drilling was used to drill the larger diameter pumping test wells installed in 2022/2023 and in some of the earlier drilling programs for piezometers. During the 2022/2023 resource characterization program the packer sampling and piezometers have been in holes drilled using a diamond drill rig, generally with PQ casing and packer assemblies to 400 m bgs and HQ casing and packer assemblies from 400 to 600 m bgs. Packer sampling from diamond drillholes and sampling from installed piezometers and wells have been the principal methods used to acquire geochemical brine samples. Since May 2023, the packer sampling has been entirely single packer configurations, as these have been found to yield the most reliable samples. Additionally, lugeon tests have not been performed since that time to improve hole stability. Standard operating procedures for packer sampling are followed, with significant development of the test interval, extraction of at least three (3) borehole volumes (measured from surface to hole bottom). Sampling only occurs once brine is clear and field chemistry parameters are stable and indicative of reservoir fluids. Samples are collected in 1 Litre plastic bottles with field geochemistry parameters recorded. Samples are stored in the sample storage area (climate-controlled container) until shipped to the laboratory. The type of drillhole and sample approach is included in Section 1 of JORC Table 1. Drillhole collars with key analytical laboratory results are presented in Table 8. Additionally, downhole geophysical logs have been collected since May 2019 on most drillholes where conditions are suitable to do so. There are an extensive set of logs including gamma logs, resistivity, acoustic televiewer, inclination, calliper, temperature, and Borehole Magnetic Resonance (BMR). Wells K03R12, K04R15 and K08R14 were retrospectively logged, with installed PVC casing facilitating use of the BMR tool and a total of 16 drillhole have been logged with BMR. BMR logs have been highly useful for identifying zones of movable, capillary and immobile water, specific yield estimates, and relative assessments of hydraulic conductivity. The geophysical logs were limited to 400 m and therefore deeper holes also only have geophysical logs to 400 m. MINERAL RESOURCE CLASSIFICATION CRITERIA Preparation of this resource estimate has been led by Andrew Fulton, Competent Person (CP) and Principal Hydrogeologist at Groundwater Exploration Science (GES), with support from Murray Booker (Hydrominex) and Lake’s technical team. The resource estimate is prepared in accordance with JORC 2012 standards and although JORC 2012 does not address lithium brines specifically in the guidance documents, the CP has taken into account the Australian Association of Mining and Exploration Companies (AMEC) Guidelines for Resource and Reserve Estimation for Brines and the NI 43-101 guidelines for lithium brines, set forth by the Canadian Institute of Mining, Metallurgy and Petroleum (CIM 2014). The CP considered these guidelines, the intent of the JORC 2012, and experiences from other salars and projects for resource estimation at the lithium brine deposit in the Carachi Pampa Basin. As with all Projects, the Kachi resource was explored initially with limited drillhole data and an uncertain understanding of the basin complexity. Subsequent drilling programs focused on the central area, with a relatively tight drillhole pattern, robust maiden resource. The 2022/2023 characterization program has 11 focused on expanding the spatial and vertical delineations as well as testing the hydraulic properties of the reservoir materials. These studies in combination with the related hydrogeological conceptual and numerical model development, have led to a significantly improved understanding of the hydrogeology and hydrogeochemistry of the basin as well as the continuity and extent of the brine in the subsurface. With respect to what is a reasonable distance for data to be extrapolated beyond the drilling area, as a fluid, brine resources are likely to be rather more uniform than a hard rock mineral resource. This is the rationale used by Houston et al. (2011) when suggesting guidelines for interpolated sampling in an immature salar should be 7-10 km between wells for an Inferred Resource, 5 km for an Indicated Resource and 2.5 km for a Measured Resource. Where the resource is open, and in the absence of any potential hydrogeological boundaries, it was considered reasonable to use the same distances for extrapolation distances beyond measurement locations. However, where there was more uncertainty, the extrapolation distance was reduced further. The current “measured” resource was defined using a protocol of a 2.5 km radial influence around each drillhole. MEASURED MINERAL RESOURCES A ‘Measured Mineral Resource’ is that part of a Mineral Resource for which quantity, grade (or quality), densities, shape, and physical characteristics are estimated with confidence sufficient to allow the application of Modifying Factors to support detailed mine planning and final evaluation of the economic viability of the deposit. Geological evidence is derived from detailed and reliable exploration, sampling and testing gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drillholes, and is sufficient to confirm geological and grade (or quality) continuity between points of observation where data and samples are gathered. A Measured Mineral Resource has a higher level of confidence than that applying to either an Indicated Mineral Resource or an Inferred Mineral Resource. It may be converted to a Proven Ore Reserve or under certain circumstances to a Probable Ore Reserve. The Measured Resources (Figures 9 and 10) are within the centre of the resource area, over where the stratigraphy is continuous and well correlated, brine chemistry and grades are consistent and as a result there is a high degree of confidence. There are three components of the Measured Resource, the salar deposits, the West Alluvial Fan Complex and a newly defined deep Measured Resource from 400-600 m bgs, where drilling has defined lithium concentrations and stratigraphy. The drill spacing in the Measured Resource area ranges from 1.1 to 1.9 km and averages approximately 1.5 km. The average is less than guidance for an appropriate drill spacing for Measured Resources in clastic salars16. Furthermore, three long-term pumping tests (12 to 30 days) have extracted more than 50 million litres of brine that demonstrated remarkably consistent lithium concentration17, further confirming grade continuity with a high degree of confidence indicative of a Measured Resource designation. The geometry for the Measured Resource was generated using the location of the existing wells in the project area, each well forming the centre of a 2.5 radius. Once the circles were generated, the circles were unified, obtaining irregular polygons. The measured area takes in the area within 2.5 km of drillholes in the salar area and immediately to the west over the alluvial fan. For the limit of the Measured Resource, data from wells K20, K18, K19, K2D13, K14, K08, K03, K15, K16, K02, K11, K12, K04 and more recent holes K20, K18, K19 (Figure 2) were used. To the west the limit of the overall resource estimate, including the Measured Resource, is truncated by the Permian outcrops and basin bounding faults which form the Los Colorados Range west of the salar. To the east the Carachi Pampa volcano forms the limit of the Measured and Indicated Resources. The eastern portion of the Measured Resource over the in the salar has a specific yield based on the drillholes on the salar. The updated Measured Resource is presented in Figures 9 and 10. 12 Figure 9. Updated Measured Resource area between 0 and 400 m, based around 2.5 km from individual drillholes, so that data points in the model are no more than 2.5 km from a drillhole. The alluvial fan portions of the Measured Resource (darker pink) is truncated on the western margin by the basin margin. The Measured Resource over the salar area, comprising Units A, B and C is truncated on the east by the surface expression of the Kachi volcano. Alluvial fan 0-400 m Deeper Measured 400-~600 m Unit A Unit B Unit C Figure 10. Updated Measured Resource model (with 3 x vertical exaggeration), with Units A, B and C in the salar area from 0 to 400 m bgs, and 0 to 400 m bgs in the alluvial fan to the west. From 400 m to the basement (approximately 600 m depth) there is a lower area of Measured Resource (new in this estimate, and previously part of Indicated Resources) 13 Key points for the Measured Resource include:  The western part of the Measured Resource over the alluvial fan has a specific yield based on drillholes at platforms K18, K19 and K20.  Drillholes at the K24 and K25 drill platforms provide information between 400 and 600 m and are the major addition to the resource, with this newly defined deeper portion of the Measured Resource shown in Figures 10.  This newly defined Measured Resource (Figure 11 and 12) was previously part of the Indicated Resource below the Measured Resource (0-400 m) defined in the November 2023 MRE.  The updated Measured Resource is comprised of Layer A, B and C (up to 400 meters) within the salar and the unit based on K24-K25 from 400 m depth to basement.  Measured Resource is also defined from 0 to 400 m bgs in the alluvial fan domain, to the west of the salar.  The Measured Resource is the sum of these volumes. Extension of Measured resource to depth (400 to basement ~600 m) and further to the SW & Figure 11. Updated Measured Resource area, based around 2.5 km from individual drillholes, so that data points in the model are no more than 2.5 km from a drillhole. 14 Figure 12. Updated Measured Resource from 400 m bgs (pink unit) to basement (brown, generally about 600 m bgs). This resource volume is overlain by a more laterally extensive Measured Resource zone between 0 and 400 m depth (see Figure 9). INDICATED MINERAL RESOURCE An ‘Indicated Mineral Resource’ is that part of a Mineral Resource for which quantity, grade (or quality), densities, shape and physical characteristics are estimated with sufficient confidence to allow the application of Modifying Factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit. Geological evidence is derived from adequately detailed and reliable exploration, sampling and testing gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drillholes, and is sufficient to assume geological and grade (or quality) continuity between points of observation where data and samples are gathered. An Indicated Mineral Resource has a lower level of confidence than that applying to a Measured Mineral Resource and may only be converted to a Probable Ore Reserve. The Indicated Resource covers four areas:  Underneath Measured Resource footprint from 400 m to 600 m bgs in the main salar footprint (Figures 13 to 16).  The area around K21D38 in the southern portion of the project area.  The area in the southeast, centred around hole K06 (Figures 13 to 16) and extending west to join the Measured Resource from 0 to 400 m bgs (termed Southeast-K06).  The area around K23D40 in the northern sector of the project area from 0 to 600 m bgs. The approach to classification of these four areas is described below. Salar from 400m to 600 m Between 400 and 600 m beneath the Measured resource (adjacent to the new 400 m to basement depth Measured resource) the volume is classified as Indicated Resource (Figure 13). This is based on: Information from more recent drillhole K24D41 in the south of the Measured Resource, extending to 600 m and information from K22, in the 0 to 600 m Indicated Resource north of the 400 to 600 m 15 Indicated and Measured Resource zone also provides information confirming continuity of the lithium concentrations through the area. The specific yield data for this Indicated zone is based on the interpretation of a lateral continuation of the greater than 400 m BMR data, from K24D41 below 400 m, as the Indicated Resource one has broadly similar characteristics to that of the 400 to 600 m deep Measured Resource zone K21 Area Based on the drilling information from platforms K24 and K25, and drilling results from K21D38, the area around K21 was upgraded from Inferred Resource to Indicated Resource. A 5 km circular polygon centred on the K21D38 well was used to define the resource extent and truncated by Measured Resource to the north and bedrock outcrops to the west (Figure 13 and Figure 14). The vertical constraints of the resource were defined using the elevation of the conductive layer in the TEM survey and a depth of 400 m bgs. Southeast – K06 For the Indicated Resource around well K06 2.5 km radii was used for the depth interval 0 to 400 m (Figure 14). The area was classified as Indicated because the hole is isolated from the other holes, so as to not fall within the Measured Resource area, but to have a higher degree of confidence than Inferred Resources, due to the nearby drilling and extensive geophysics. This unit has a radius of 2.5 km around the hole. The model estimate continues to the edge of the volcano. The TEM data shows the conductive brine body extends under the basaltic flow of the Carachi Pampa volcano, however, this is included separately as Inferred Resources K23 Area Drill