Trident Royalties Plc (AIM: TRR, OTC: TDTRF), the diversified mining royalty company, is pleased to note recent positive announcements by ASX-listed Anson Resources Ltd. ("Anson", ASX: ASN) in relation to its Paradox Lithium Project ("Paradox") and its Green River Lithium Project ("Green River"). Trident holds a 2.50% net smelter return ("NSR") royalty over Anson's projects in the Paradox Basin.

Binding Offtake Term Sheet with LG Energy Solution1

· Anson Resources (via its 100% owned subsidiary A1 Lithium) and LG Energy Solution ("LG") have executed a binding offtake term sheet for the supply of battery grade lithium carbonate from Paradox.

· LG Energy Solution is a global leader in delivering advanced lithium-ion batteries for electric vehicles, mobility and IT applications and energy storage systems. They have eight facilities currently operating or under construction in North America, with stand-alone facilities in Michigan and Arizona and six joint venture facilities with major automakers.

· The offtake term sheet contemplates the purchase by LG of 4,000 dry metric tonnes per year of battery-grade lithium carbonate for an initial period of five years beginning in 2027, with the ability to extend for another five years thereafter. The offtake is subject to the satisfaction of customary conditions precedent. This would represent approximately 40% of the anticipated project start-up production capacity of circa 10,000tpa.

· Pricing for lithium carbonate delivered under the offtake term sheet is based on market prices.

· Additionally, LG and Anson have commenced discussions regarding an investment by LG into Anson.



Green River Update2

· Anson announced that it has successfully sampled the Mississippian Units after the completion of the Bosydaba #1 well at Green River, which is located on the recently purchased private property in the Paradox Basin.

· The flow of supersaturated brine confirms Anson's expectations that Green River will be the location of its second lithium project in Utah.

· Bulk samples were stored in a 400-gallon tank and IBC containers and will be used for continued process testing and metallurgical test work. Samples collected will be sent to a certified laboratory in Texas experienced in oil field brines, and will be assayed for lithium, iodine, bromine, boron and other minerals. A large volume, 400-barrel tank, was also collected and stored at the Sample Demonstration Plant ("SDP") for on-going process test work.

· The well will be left open to enable the extraction of additional brine for on-going processing at the SDP should that be required. The SDP is fully commissioned and has both the lithium extraction capability as well as downstream purification. The plant is capable of operating 24/7 and producing a high purity lithium carbonate product as samples for potential off-take partners.

Bruce Richardson, Executive Chairman and Managing Director of Anson, commented for the purposes of their announcement1:

"The Inflation Reduction Act and other US policy initiatives have resulted in significant investment in new battery manufacturing in North America to meet the continued growth in demand for electric vehicles in the US. This shift in manufacturing investment has led to an increased demand for lithium produced in the US, not only to shorten supply chains geographically but also increase US content of electric vehicle batteries and electric vehicles, to meet IRA incentive requirements. Anson identified this change, targeted its offtake marketing activities to the companies that have made these investments into North America and in particular, the US where Anson's development work in the Paradox Basin in Southern Utah is strategically positioned. We are delighted to have reached agreement with LG Energy Solution allowing us to execute our first binding Offtake Term Sheet for at least 40% of our production. This establishes the foundation for a long-term partnership and we are proud that we will be supplying US made lithium from the Paradox Basin to LG Energy Solution, a respected global leader in the lithium battery value chain, building out the largest battery manufacturing capacity in the US."

Adam Davidson, Chief Executive Officer of Trident commented:

"We congratulate the Anson team for achieving this offtake milestone for Paradox. LG is a household name in the battery world. The Paradox offtake, coupled with a potential investment from LG, demonstrates Paradox's tremendous potential as a strategic source of US lithium. We look forward to continued momentum at Paradox as the project moves to a final investment decision.

"Meanwhile, we are pleased to see continued progress at Green River. Green River has, to date, demonstrated similar potential to Paradox and highlights the optionality embedded in this royalty, providing Trident with scope for significant upside to the advanced Paradox Lithium Project."





References

1: Source: Anson Resources Ltd. news release, 1 May 2024

( https://wcsecure.weblink.com.au/pdf/ASN/02801921.pdf )



2: Source: Anson Resources Ltd. news release, 30 April 2024

( https://wcsecure.weblink.com.au/pdf/ASN/02800678.pdf )


Competent Person's Statement

The technical information contained in this disclosure has been read and approved by Mr Nick O'Reilly (MSc, DIC, MAusIMM, MIMMM, FGS), who is a qualified geologist and acts as the Competent Person under the AIM Rules - Note for Mining and Oil & Gas Companies. Mr O'Reilly is a Principal Consultant working for Mining Analyst Consulting Ltd which has been retained by Trident to provide technical support. In relation to the mineral resource estimates, the company confirms that the material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed, and it is not aware of any new information or data that materially affects the estimates.

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